The Truth about Black Banks and the Racial Wealth Gap

[@Amberabove]

I don’t know how but you’ve managed to package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thank you for your efforts to be the signal and not the noise. I understand that the economy is currently in a downturn and that we must wait for things to get better

[@wmwoods-l4f]

As hard as it may sound you can plan for the recession. If you are working, find extra work and get an Invest--advisor. Protect your deposits by having enough cash in short term fixed income. Then cut your expenses. Minimal insurance, cut utilities.

[@Derekhoffman312]

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[@SteveEstrada-js9nu]

Even if you have a humongous income you still need to draw up futuristic plans because anything can happen. One could lose one's job or whatever. Investment cannot be overemphasized. About your advisor, how does one reach pls

[@Derekhoffman312]

My CFA Annette Christine Conte , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@SteveEstrada-js9nu]

She appears to be a true authority in her profession with over two decades of experience. I looked her up on the internet and skimmed through her site, very professional. already sent her an inquiry hoping for a response soon.

[@Entre1099]

The crazy thing is, you can show this to, and inform certain people, and they will still say it’s always been “equal opportunity.”

[@myredeyelife7010]

People who want to be successful, Are.They don’t make excuses.

[@myredeyelife7010]

Why do you give white people so much control of you? You can’t defeat them? That’s weak.

[@anfdelarosa]

@@myredeyelife7010you’re right, doesn’t mean it wasn’t easier for others than it was for the person not making excuses. The point is, it’s unequal. No one is complaining that it’s not possible.

[@Entre1099]

@@anfdelarosa Exactly.

[@MOGULAMAZING]

That's called systematic racism

[@leanavision4738]

My grandfather was also one of the founding partners of Penny Savings Bank. ❤

[@martind1636]

My grandmother was also part of the black bank reserve most notably not ever mentioned.

[@Micnify]

Interesting ❤!! Thank you!! Mic'2024 😊!!

[@Sharuhen.Buhen.Shalfak]

And before that your ancestors were owned and had there land commandeered by the Romans, we’re taught to speak Latin, brought out of savagery and turned into more competent people, they didn’t even know what currency or banking was until the Romans introduced the concept of a treasury… your people were illiterate savages that lived in the forest of Gaul and Germania… Therefore you need to be quiet…

[@Sharuhen.Buhen.Shalfak]

*were taught…

[@jdotnic]

​@@charlottewhite5905Cringe troll with no life pretending to be a girl. Stay anonymous u weasel

[@leoscheibelhut940]

Black GI's being denied access to the benefits of the GI Bill such as assistance with college and first mortgages, was also a factor. Thank you for this excellent presentation. The graphics explaining how black banks kept the money in the black community and helped it grow financially made me realize that the same thing [although just greedy and not motivated by racism] is happening everyday all across America. Banks, fast food franchises, chain stores, dollar stores, etc. extract wealth from small communities and poor areas of metros and "export" it to the rich without investing it in the community. Even the most conscientious banks and franchises that work hard to reinvest in their communities "export" at least their profits to corporate headquarters.

[@Ghe608]

American didn’t allow Black people to even really be citizens that other white immigrants could come in and get securities like Social Security and welfare that Black people were the last people allowed to have those things white people have always opposed black success violently.

[@Jommybutler1234]

Wasn’t that generations ago? Why would that be holding Blacks down now?

[@leonhenry4861]

@@Jommybutler1234always one in the bunch, here they are 😂😂😂😂

[@leoscheibelhut940]

@Jommybutler1234 Because the #1 predictor of wealth is whether your parents had wealth. The GI Bill is one of the things that developed the American middle-class. Blacks were deliberately excluded by law for participation.

[@Jommybutler1234]

@@leoscheibelhut940 Walmarts HQ is in Bentonville, Arkansas. Space X is on the gulf coast of Texas. Which corporations specifically are you speaking of ? Don’t these evil corporations provide jobs? Why do you assume a Privately Owned Business has some higher responsibility to “reinvest in their communities”? Money is Mobile and they should invest where it brings the largest return (ROI)

[@everythingunderthesun7803]

"Access" is not enough. We have access now, but that doesn't mean we actually RECIEVE. We have access to loan applications, but are rarely approved for the loan or its at inflated interest rates. We have access to higher education but, we can't afford it without absurdly expensive student loans because we AREN'T hired for high paying jobs we have access to apply for even when we're qualified!

[@MikeBNumba6]

That's why NOTHING changed. Black Americans didn't own any wealth during slavery and they don't own it now. Before people comment that we have blk celebrities or whatever, well you had blk freeman during slavery too.

[@richardwilson9085]

Preach it

[@comediccommentator4663]

DEI says otherwise

[@jalenwesley755]

I think he mean access to the loan not the application

[@willharriman1881-z9b]

@@jalenwesley755 What good is "access" without the actual loan in reality?

[@jso6790]

This was great. I too often take for granted that these forces are understood by a large enough chunk of society to make a difference, but then I listen to our elected officials and realize just how profoundly we have forgotten our history.

[@alfonsom8286]

The American people/politicians haven't forgotten this history, they just choose to deny it.

[@WillN2Go1]

One reason the United States grew so wealthy so quickly was the Federal banking system set up by Alexander Hamilton. The way this worked is farmers didn't have to save up for a lifetime to buy their own farm, instead if they could save up enough for a down payment; they could get a mortgage for the rest. But instead of borrowing the 'real' money of other depositors, (which is what African American were only able to do) the bank would go to the Fed, pay a small fee 1.5%, and the Fed would 'invent' the money for the mortgage. This would pay off the seller, who could then buy more property or spend the money. In 20 to 30 years when the farmer paid off the mortgage, that invented money was fully realized. The trick here is that so long as loans were made to people who were good credit risks, the U.S. economy could rapidly grow by using money that didn't yet exist. So in a generation one white farmer sells a farm, gets $1000, another white farmer buys it by paying that $1000 ($250 down payment) and in 20 years the United States would be wealthier by $1000, plus the interest and increase in the property value. Over in the African American community a similar $750 loan to the buyer would be money other African Americans couldn't use. So African American borrowers had a more than just getting a loan against them, they were forced to borrow 'real' money. If you took the majority community and the African American community and placed them side by side, there is no way the African American community could build equity as quickly. It was like white people were living in the United States and African Americans were living in some perpetually poor part of the world. It looks like W. R. Pettiford by working with a white bank might've been able to use Hamilton's system. The bottom line of all of this is racism is just about the stupidest thing anyone or any society can practice. Not doing everything possible to overcome it is also stupid. The United States grew even faster because of immigration, and yet internally we kept up an idiotic practice that undermined 12% of our population and 12% of our economic growth. (And I've left out the harm of the violence.) To what gain? Be interesting if someone who understands this better than I do could calculate how much richer the U.S. economy would be if there were no racism, and also if there had been no slavery. (it's very profitable to have people working for you for free, but the broader impact is negative.) And calculate the true positive value of equality. (Reparations? I don't want the U.S. to write one set of checks, we should be paying for education, opportunity and anything else that is needed for as long as it takes to fully make us all equal. )

[@jso6790]

@@alfonsom8286 I agree with you in regards to the people in power, but our schools don't teach this, so I think people literally have no idea these things happened (and, to your point, really don't want to know either because it is uncomfortable. Willful ignorance)

[@Chernobylii]

When schools do try to teach students about topics like lending discrimination, housing discrimination, mass incarceration, and other impacts of economic segregation, politicians and state governments move to ban the curriculum and subject matter from schools.

[@directorchris2]

Getting Seggs & Not Job....

[@kendi1417]

Why is there a racial wealth gap? It was built in to the system from the start.

[@EmeraldsQuartzLight]

What system does there need to be when people teach their kids to not care about that stuff?

[@justicia_azul]

​@EmeraldsQuartzLight My parents taught me to care, despite them having grown up poor.

[@bnwo]

@@EmeraldsQuartzLight How can you care about something that's been systemically denied to you? 🤔

[@twilajohnson2313]

🎯

[@gordonmccracken1209]

Yes however a lot of my peers are afraid to invest in the stock market beyond 401K contributions.

[@777Sol7]

We gotta touch on how freeways being strategically built through black economic centers also is a factor. It not only happened in Durham but Atlanta’s sweet auburn district. If you look at the map of Atlanta’s interstates, I-75/85 literally turns just to go straight through the sweet auburn district and then returns back to a straight line north and south

[@WaTZReaL07]

Great point. Driving on the Westside of Atlanta, I always scratch my head on where entrances for the highways are. They are literally in neighborhoods!! Back streets and everything.

[@rzim_benizzy]

This is an excellent point and is exactly what the CBC should focus on, and also black banks need more focus.

[@Ghaos]

"We gotta touch on how freeways being strategically built through black economic centers also is a factor. " Walk me through it, how else would community have access to interstate commerce if it is not connected to an interstate thruway?

[@charleswalton7111]

Ironically, the new highway map in the research triangle area (NC) is going through another structure to go outside of the black community with a 540 exchange. Its impact once again will harm the black community's chances to build wealth. Watch this space!

[@Jommybutler1234]

So, highways in Atlanta are the reason that Blacks nationwide are at the bottom economically? Behind newer arrivals like the Asians and Indians.

[@JubeiKibagamiFez]

Greenwood District, Tulsa, Oklahoma, AKA Black Wall Street. That was the epitome of Black innovation, self reliance, and ingenuity.

[@smittyb9418]

That's true but we cannot rely on our forefathers wealth to bring us financial stability today...in order to shorten the financial gap starts with us investing wisely & stop spending our money on foolishness 😞

[@JubeiKibagamiFez]

@@smittyb9418 That wealth got destroyed when Greenwood got destroyed. But, my point is that we can have that again, if we just work together.

[@smittyb9418]

@@JubeiKibagamiFez ... depends on what you mean when you say work together...I don't support foolishness but I will support a young brotha trying to do what's right 👍

[@RalphHester]

As a people we don't spend our money amongst ourselves,we go outside our community... casinos, get rich quick,blings and expensive foolery,we should focus and build for the next generation,we can concentrate on growing our own food... African Americans used to be pioneers now we're consuming this poison, plastics in the food chain and getting sick while big pharma getting filthy rich off our illnesses... insurance companies not a solution for us, it's just the opposite and we need to invest in ourselves and mentorship,trade schools,be in control of our financial affairs...

[@JubeiKibagamiFez]

@@RalphHester I can not agree more. 100%.

[@brobinson2150]

Please add that its still happening today. Wells Fargo and Navy Federal both have been caught denying black homeowners bank loans even with outstanding credit, low DTI ratio, and with a sizeable downpayment.

[@CameronFussner]

First Republic Bank was the 14th largest bank in the US, and it wasn't subject to the most strict controls. How many banks actually are subject to those controls, besides the big four? Any bank could suffer a run and fail, and if that happens to a community level or even state level bank it probably won't upset the national economy or ecosystem of banks, but any multi-state bank should be more closely watched.

[@Franklin-gq4si]

Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival

[@AlfredWilliams-ki6ri]

These are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The bigger the red candles, the bigger the green ones

[@williamDonaldson432]

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a broker, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.

[@foreverlaura-fq4eu]

@@williamDonaldson432 It's a good time to buy and basically I've just got cash sitting duck in the bank and I'd really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up

[@foreverlaura-fq4eu]

It's a good time to buy and basically I've just got cash sitting duck in the bank and I'd really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up

[@colincole7075]

We need to keep our money in our own community

[@titaniumgreen5367]

That's why we don't give to black cardboard holders

[@jimbrown9046]

Umm black Wall Street was a message , it’s called racism white supremacy and slavery

[@enzolabolle8990]

It has already happened several times it didn't work

[@bgbraz]

What money?

[@giantcafe7040]

@@enzolabolle8990bc they either bombed the communities or flooded them with drugs

[@Cakebattered]

The War on Drugs targeted Black Men between the ages of 16 - 24. Thats the prime age for economic development.

[@pointfrogg]

Destroyed generations of families and stained those mens lives needlessly for something most others even take as a pin of honor.

[@EchezonaDibia]

@Conchobar *Two Questions* Between 16 and 24 is prime age for _economic_ development? *Q1* Why do you pick the age-range 16-24 as prime age for economic (i.e., money) development? I would have said that 16-24 falls within prime age for personal development. So, why do you pick that age range for economic development, instead? I am asking. I am not an American. I (educated) guess that you are Black American. There are - easily - three to four billion Black people on earth. About sixty million of them are Black Americans. *Q2* So, why do _most_ Black Americans use the identifier 'Black', as if to say that Black Americans are the *only* Black people in the world: The *_only_* Black people in the past, present and future?

[@COO415]

​@@EchezonaDibia. Wow!. From your name, I know you are African from the Igbo tribe of Nigeria. Your nonsensical questions don't surprise me 'cos every immigrant, including Africans like you, to the US, the first & only people they look down upon are blacks or African Americans or whatever name is in currency. As an African myself, if I didn't go to college in the US, where I was classmate with black Americans & everyone else, my image & opinion of blacks in America, would be all the negative in the media and what even my white friends comfortable talking against black people 'cos I'm not like "them". Just snap out of your BS. Nigeria is one of the sh*thole countries Trump openly declared & 40% of white America agreed. Cheers.

[@spika5872]

16 to 24 is the age in college, we are broke af brah. Idk what the war on drugs are you talking about but it sounds like you are on drugs. Prime age right now is after late 30s if you are lucky and paid off student loan.

[@elainewilliams5019]

​@@spika5872 To many kids come out of college with useless degrees and r in debt with the government. U can not bankrupt students loans

[@qbanz00]

The answer to this is so blatantly obvious 😂 imagine jumping into a game of monopoly after the game is over halfway done …property is already bought up , and you also don’t get told the rules while simultaneously being denied access to certain properties on the board 😂

[@willharriman1881-z9b]

You are exactly right! Even when slavery ended, the freed slaves were left penniless with no means of support! That alone made them subject to vagrancy laws! This alone made them CRIMINALS! THAT WAS THE PLAN!

[@AshleyBaxter-m6c]

Exactly a lot of economists say it is impossible to catch up at this point, after everything that has been done.

[@janellimarie]

You’d be surprised how many people say you should pick yourself up by your bootstraps by now. And “there’s no such thing as systemic racism” even coming from people of color.

[@MakeItHappen223]

Yup Dr. Claud Anderson been spoke on this

[@MakeItHappen223]

@@AshleyBaxter-m6cyup

[@AllyAmp]

This is why it's so fundamental for this community to have allies. No one should live in generational poverty. Let's find a solution together and support Reparations

[@at8981]

Ya mane we need reparayshuns n shiet and mo goverment programs and expand government to help us give da money we gave to da government back to us. You see we gotta pay to expand da government so dat da government can den pay us you feel me mane. We gotta increase deficit spending to expand da bloat of da federal government mane. Yeah mane fucc elon and his government efficiency commission mane.

[@karinec.2131]

It also requires personal accountability as well but that’s for another day

[@sgsrider00]

@@karinec.2131imagine thinking generational poverty is also due to lack of accountability 🤦‍♂️

[@richharris9824]

Good Luck with that!!!

[@X3nophiliac]

reparations are hard to figure out. i dunno if its possible to do without causing a race war.

[@ChroniclogicalJeff]

Thank you for these videos. They're not always easy or comfortable to watch, but they're always very educational. ☮️

[@Chicago48]

These discussions always talk about black vs. white, but Asians are the richest group class in America. Black banks can exist today, as well as credit unions. There's no excuse not to have black banks. Just start it. The problem is that many black people are "cash" people and don't bank until they have to -- to buy a car or house.

[@ChroniclogicalJeff]

@@Chicago48 😅

[@shefflontidwell8216]

And everything you've been talking about still exists today!

[@ronaldlsaxton3114]

Talking about this like it took a vacation

[@pedrodecosta8794]

Separation is the only solution. INTEGRATION is a big mistake.

[@willharriman1881-z9b]

@@pedrodecosta8794 Separate Black communities were tried! The famous "Black Wall Street" of Tulsa, Oklahoma, Rosewood of Florida and many others succeeded only to be destroyed in race riots!

[@sadieashby2266]

Yes indeed

[@Egalitarianism_Secularism]

YOU GET TO LIVE IN MODERNITY WITH EVERY ANSWER GIVEN TO YOU. KEEP COMPLAINING.

[@sirrebral]

VERY well done. So many people mistakenly assume a level playing field due to the end of slavery and formal segregation, but in practicality the consequences of those institutions live on LONG after they are declared illegal. This type of content helps people better understand the problem, which is a prerequisite to solving it. The only thing I'd add is that this isn't just an issue for Black people. When any subgroup of the national economy is placed in a position of economic underperformance, it restricts the performance and health of the country as a whole...more people earning, investing, owning land, etc. is good for EVERYONE. A recent study by Citigroup estimated that the U.S. economy lost approximately 16 **trillion** dollars in GDP due to discrimination and inequalities toward African-Americans. That underscores that this is not an "us" versus "them" issue... ending the status quo of financial racial inequity contributes to the stronger national economy that ALL Americans want.

[@larrythesociologist]

This issue is specific to black people because of structures created from authoritative institutions like the mentioned “black codes” were specific to black people. I understand the “rising tide lifts all boats” principle, but don’t stray from the very nature of the issue. That black people were/are SPECIFICALLY stifled and targeted to keep out of accessing wealth.

[@chattingman6777]

Bro literally all lives matter the situation. 😂😂

[@Kish-wm8tu]

Nine of which has really changed but they still always like how can slavery still affect us today. America is still exactly the way it was designed. Then we built our own towns and then they were destroyed.

[@GAURAV25855ify]

Yes and no but entire America isnt the Alabama or Mississippi

[@willharriman1881-z9b]

@@GAURAV25855ify The only difference from Jim Crow era Alabama or Mississippi is that most race injustices today are cleverly cloaked and hidden from view! Hiding race abuses is NOT a solution!

[@mocheen4837]

My great grandparents came to America with nothing and worked hard to provide a better life for their children. They were able to send their children to good colleges. My grandparents ended up buying several properties in San Francisco and are worth millions today. You cannot keep saying slavery set you back. The next generation still has the opportunity to succeed.

[@willharriman1881-z9b]

@@mocheen4837 You might mean well, but you are totally confused! The existence and effects of continuing genuine race injustices specifically against Black Americans remains the core problem. Everything else is secondary.

[@willharriman1881-z9b]

@@mocheen4837 The history is clear! In the "Black Wall Street" of Tulsa, Oklahoma, the Black town of Rosewood, Florida and many others show that many Black Americans did all the right things! But, it didn't matter due to specific race injustices! That's the difference! Face the hard reality!

[@elmajique]

Colonialism, Slavery , 250 year headstart, redlining, credit deprivation/manipulation, racism

[@matthewm9261]

Went from trailer park and food stamps as a kid to the middle class and sending my kid to private school by becoming a otr truck driver. I'm home 30 days a year and nobody cares about your race gender or ethnicity. No excuses

[@amariantiquity8543]

​@@matthewm9261You are the biggest failure & losers if are white and poor in America. The term "white" invented to give the Caucasian an identity to creat laws based on color of one's skin. You're ancestors are responsible for creating chattel slavery. Your family had a 250yr headstart. Black Americans during the Reconstruction period built towns, businesses, cities and They were all burned down and flooded by KKK & US military during Jim Crow. The CIA/FBI cointell pro flooded Black neighborhoods with crack cocaine. CIA operative Margaret Sanger created Planned Parenthood for the purposes of unaliving & erasure of Black children via abortion. The wealth gap between white & black is based on unjust laws and the creation of racism.

[@gtt6943]

​@matthewm9261 Right. If you're white gotfoh with that crap. If you're black or another minority yea individuals can make it. I did but the collective has suffered which is the real issue. Read a book or two maybe three.

[@lching7491]

And what about immigrants that come here with nothing and succeeded? Stop blaming others and take accountability and do better

[@gtt6943]

@lching7491 Immigrants obviously don't come here with nothing and get various types of assistance when they get here. They leave homes where they are unable to make it to come here. No immigrant group would succeed with a 250-year past of bondage along with 100 more years of debt pionage and Jim Crow laws and 50 years of drug laws targeted toward a specific group. Gtfoh, with that talk, read a book fool.

[@tauntingeveryone7208]

There is also the fact that making black people less poor will also help white people because it increases the amount of taxable income which in turn inproves more communities. Furthermore, there are more people who can afford to take time to fight for better labor standards which improves worker equality. This issue is not separate from white people. I will admit it is sad I have to say this to motivate some white people but unfortunately some people are too selfish to realize that helping everyone benefits you too.

[@EmeraldsQuartzLight]

ARE YOU EVEN AROUND THOSE PEOPLE?

[@justicia_azul]

​@@EmeraldsQuartzLight Around what people?

[@tauntingeveryone7208]

@@EmeraldsQuartzLight which people?

[@michaellove2249]

Riseing tides raise all boats.

[@willharriman1881-z9b]

@@michaellove2249 If that were really true, the racial wealth gap would not exist!

[@PokhrajRoy.]

So happy to see this is being contextualised.

[@TheFailingHumanExperieme-ge4ov]

We know how the Donald Trumps of the world fit into this model. Trump Sr. was a KKK member.

[@christopherblackall8406]

Same thing happened in Little Rock's West 9th Street as Durham. Black business area was destroyed by interstate system and effectively drew a dividing line through the city.

[@TheFailingHumanExperieme-ge4ov]

Turncoats like Coleman Hughes should watch this video instead of blaming blk people for their failues.

[@dempseyhaskins2087]

Also none of those people were paid for land and homes that were destroyed because of the highway. I’m from Durham and the history is wildly know! We had one of the most successful cities in the country. Black Wall Street on steroids!

[@1sterReg]

Thanks!

[@armoredapologetics8623]

This is an absolutely profound video. This explains the problem perfectly

[@foodiusmaximus]

Kinda. It’s only scratching the surface. Read ‘the color of money’, it was quoted somewhere in the middle of the video. It will make you angrier than marathon watching every extrajudicial killing from the last 20 years.

[@Zoldrandomstuff]

thank you for making this video, and apologies in advance for all the racists already in the comments feeling their egos are so fragile they must argue that this is somehow not true 🤦

[@EmeraldsQuartzLight]

Not really. You probably don't live around them.

[@cloudstrife4534]

@@EmeraldsQuartzLightThis is a weird response.

[@EmeraldsQuartzLight]

@@cloudstrife4534 You people are just weird

[@TheeRebel]

@@EmeraldsQuartzLight”you people”, lol we see you 😂

[@mrpearson1230]

I'd say racially ignorant! Most people are racially ignorant!

[@Paula-133]

Everything said here is very accurate. Try as you may sound effects you can't lighten up " the crickets" on this subject because it's still a real problem. Rasim still stops Black people from progressing getting loans, and buying homes. And even though Redling was illegal it did still exist in 1993 in Indiana. My white realtor told me I could not move into the white middle-class area where I now live. Because the realtor was afraid the white people who lived here would not accept my husband or me. That might be trouble. I found another realtor and the house I wanted. The new realtor also told me I could not meet with the seller who was known to be very racist and would not sell her house to a Black person. Illegal and still happening. Can you try to imagine how scary that feels? To know they are out of their minds with racism? This is one of the ways racists hold people of color back. Whether it is talked about or not it is everywhere and is still going on. BUT they were all wrong. We have a wonderful life in this area for over 30 years. The neighbors welcomed us and we are all now very close. And take care of each other as we age. Unlike the racist seller who died alone in a condo in Flordia.

[@AshleyBaxter-m6c]

I would be afraid to move into neighborhoods like that, a house isn't worth peace of mind and safety.

[@FelizCumple2.0]

@Paula-133 lol we live in 2024. More blacks have gotten loans & are buying homes these days. U act like it affects ALL black Americans :>

[@Ari-mo8qo]

I grew up in the metro detroit area in the suburbs, in an area that is between different cities. My small neighborhood which I loved growing up in is an outlier where theres diverse groups of people that usually don't seem to always be in the same neighborhood in other areas. It resides between the mostly white/jewish American area and the mostly black American area my parents moved there on purpose because they wanted there kids exposed to diversity. They stayed because there where so many friendly neighbors that help each other out. It doesn't always feel like the city in that way more like a village. Good neighbors are hard to find. I remember finding out though that one of the realtors did not want a white American couple to by a house near my house because there where to many black Americans. I thought it was very messed up the couple still bought the house anyways. The area I live at actually has quite a few black and jewish Americans apparently back in the day the lady that owned all the land purposely would not sell to jewish people or black people and it was in the housing contract that they where not allowed to live there. She would be going into a perplexity today serves her right. Theres a lot of people who say things against detroit/metro detroit, but I think its a great place to live 2024 was an excellent year.

[@sayedenforever556]

I hate everything about that fake upbeat music while delivering dismal information about racism and discrimination

[@zranweadeyein2194]

At the 7:36 mark, the narrator says it was fear of a decline in property values. While that could be part of the reason, it could also simply be hatred and animosity. I realize that "neutral" language is preferred, but that takes away from what people went through. Thank you for the video and for reading my comment.

[@lizmclemore739]

I feel the same way. They weren't primarily thinking of their property value - they didn't want to live around Black people, period.

[@MsOlSchool]

They always smooth over what really drove them, it was just hate to see a black family afford a house in their neighborhood, bringing down the property value was their convenient excuse, even though it was them who down graded the home simply because there was a black family lived there?? Their hatred made them weird as to how they thought.

[@KarlaJammin]

It's both. When I think about illegal immigration these same people fear that these people coming and going to do what they did to the natives. Karma

[@watsonanthony8438]

@@lizmclemore739white flight cough Detroit 8 mile and Indiana

[@watsonanthony8438]

@@MsOlSchoolhalf the time most people don’t even see their neighbors 😅😅

[@GPanda110]

"A study by the Federal Reserve found that around 50-60% of the wealth in the U.S. is inherited. Similarly, reports from organizations like the OECD and World Inequality Lab show that wealth inequality is heavily influenced by intergenerational transfers, with the wealthy more likely to remain wealthy across generations."

[@tonyherdina9142]

There are more poor white people than black so that debunks your study.

[@Bridge2110]

We can measure the role of inheritance in modern racial inequality, by comparing racial wealth gaps among working age people who do and those who do not inherit money. With respect to black Americans, the wealth gap among those who have no inheritance is 28% lesser than the gap among those who do receive inheritance. This means at a maximum, only 28% of the wealth gap can even theoretically be explained by "generational wealth".

[@melissahardiman5203]

They still do those things today it didn’t go away

[@larryhoover1728]

Real estate and home ownership is the fastest way to close that gap...

[@willharriman1881-z9b]

Black Americans are often LAST HIRED, FIRST FIRED AND PASSED OVER IN PROMOTIONS! Under those race injustice conditions, owning real estate is just a pipe dream for many!

[@trillrantzo]

Read the history of real estate, they denied home ownership to our veterans from war and from our high earning ancestors

[@demetricklouis5710]

Their needs to be three legs to the stool. Those legs are enterprise (business), real estate/homeownership, and political power (governmental authority). Having property means nothing if the power that be can tax you out it (gentrification), and draft legislation that nullifies your claim to ownership (eminent domain).

[@theconcealedmistress]

​@@demetricklouis5710facts! Well said!

[@EvangelistRBColbert]

Not true when it comes to homeownership, unless the house is putting money in your pocket. A house is a liability if you aren't making money off of it.

[@lexington4]

Student loan forgiveness and housing programs are not reparations for descendants of US Chattel slavery. These won’t close the racial wealth gap alone.

[@homodeus8713]

What if all the slave owners were reincarnated as black Americans?

[@Jujubean9795]

Student loan forgiveness and housing programs that are specifically for the black descendants of US Chattel slavery WILL SIGNIFICANTLY help to close the wealth gap! Not alone, but they will HELP! Doing NOTHING just because one or two things didn’t fix the entire problem, wound be foolish.

[@lexington4]

@@Jujubean9795 ​​⁠ Oh no it won’t. 1st not all Descendants of US Chattel Slaves go to college. 2nd there are government and academic studies that report that a white person with a high school diploma has a greater net wealth than a black person with a bachelor’s degree irrespective of whether or not the black person has any student loans.

[@lexington4]

@@Jujubean9795 Look up the wealth by race on the federal reserve of St Louis. You’ll see that cannot be true.

[@foodiusmaximus]

I don’t think the point was to say that those two things alone will resolve the issue.

[@franklinwill22]

I noticed she keeps mentioning black & brown. The Indian or latin community has separate issues not for black people get distracted with.

[@joshuaohuka7719]

Distracted...? What a racist thing to say...

[@sadieashby2266]

True Black people never get anything alone Indians got their money And still getting

[@DJThump_her]

That part!

[@joshbrown3060]

Yes, I notice that too. 5:26 When I start hearing Black & Brown its a red flag for me. 13:04 This guy talking about many forms of reparations and he deflecting the words CASH PAYMENTS is a red flag. CASH PAYMENTS will be the start of closing the Racial Wealth Gap #NoReparationsNoVOTE #NoTangiblesNoVOTE #ReparationsFIRST #ReparationsNOW #CASHpayments #B1

[@joshuaohuka7719]

@@joshbrown3060 you have this all backwards... first of all... voting is not signing you use to compensate those who give you what you want... it is the tool with which you partake in the national discussion... you need to cut whether things are favoring you or not... second brown people did suffer a lot of the same segregational issues that black people did... so it makes sense for them to be included in reparative endeavors... and thirdly... cash in hand will solve very little... institutional reparation is far more important... that's compensation in education... real estate ownership... finance for small businesses... those type of things...

[@mrping2603]

Sad but very important topic. Thank you for sharing

[@tiffanydnorman]

Loved this! This information is so needed. Just people having an awareness of this history can lead to change and transformation. Thank you! 🔥❤️

[@AshleyBaxter-m6c]

A lot of people have awareness and they don't care.

[@LRrealest]

Little to no money is recycled through the community.

[@demetricklouis5710]

That part has to change and soon. It starts with supporting each other.

[@jujutu5084]

Stop eating the Chinese cheap fast food and eat support from your own. Shop and buy from your own

[@j-emcee4420]

Yep, example Jewish Circular Economy

[@at8981]

We give all da money to Michael rubin and Michael Jordan n shiet we love sports on my momma so we gotta spend all da money on new Jordan's n shiiet mane

[@sgsrider00]

@@at8981🐑

[@jessicaatkins3173]

Thank you for spotlighting this PBS and Presenter ❤

[@ferrellssales180]

Wealth is like a snowball. There are families that don't have to work actual jobs because their grandparents were able to capitalize on opportunities. Those who have the most wealth are, more often than not, not the first in their family to generate that wealth.

[@bjk837]

I’m black and I have people in my family that have moved up the economic ladder and others that have remained the same if not fallen. The largest difference has been the degree to which certain members of my family manage their finances, stick together as a family unit, and emphasize higher education/acquiring a skill valuable to the market. Discrimination/lack of opportunity hasn’t played a role whatsoever.

[@willharriman1881-z9b]

You need to read some actual race cases! Genuine race injustices really are a part of the picture! EDUCATE YOURSELF!

[@_NoHandle_]

Suuuuure.

[@willharriman1881-z9b]

You have to look at SPECIFIC CASES! Many Black Americans have had their lives RUINED by genuine race injustices! Stop pretending that all are the same! Get your imagination out of it!

[@bjk837]

@ issue?

[@blillc4939]

The biggest gap is real estate and the red lining of black communities

[@ObjectiveHate]

Black and "brown"? "Reparations isn't all about cash"?? Access is a form of reparations" Who is this dude, and why did PBS not speak with Claude Anderson?

[@mrbrainchild7637]

Exactly...this is a big grift as usual. Notwithstanding the historical truths mentioned earlier in the video, this a just more empty rhetoric.

[@treyandrews201]

How have I JUST found this channel? Been on a binge all morning

[@CraftyShawn]

Very educational I been away of the racial income and systemic racism however this video touched on a few issues I never knew about thanks for sharing

[@kincamell2]

Peace to Greenwood , Archer and Pine.

[@moneymaverickstv]

That's how they built the system. 😢

[@GotDaFireBeatz]

There needs to be a push for investing, and life insurance policies, and living our lives as a business. Learning about business dedictions, and spend more in black owned businesses.

[@willharriman1881-z9b]

Look up "Black Wall Street" of Tulsa Oklahoma and Rosewood of Florida. They and many other historic Black communities were thriving and successful only to get destroyed in race riots!

[@WealthbuilderzTV]

This is an awesome breakdown that needs to go viral to let our people know why it happened, but we need to move forward. We can close the gap now and change how our people do business.

[@broe7670]

Thank you for the knowledge and history We have to keep striving regardless

[@DJMarkCorneliusThaDon]

Cover the Freedman's Savings and Trust Company.

[@TheRecReport]

It's almost criminally negligent that Freedman's Bank wasn't covered in this segment.

[@lifelong38]

Cuz most of us prefer looking rich by making others rich opposed to actually being rich

[@NiaCheney]

We are owed cash payments! But I do love everything else mentioned in this informative story.

[@IrresistibleWitch]

You are not owed cash payments because YOU didn’t do the labor.

[@triedntrueiam]

​@@IrresistibleWitchGo look at the old wills. If people died and they were owed money for labors; it still had to be paid to the estate. If they died owing money, often the slaves would be sold to cover the dead owners debts. Your comment therefore seems kind of ignorant.

[@NiaCheney]

@@triedntrueiam exactly why I didn’t answer @irresistiblewitch because descendants of certain privileged Americans refuse to recognize actual history showing where people who were paid for the end of the slave trade were still being paid for labor that they could no longer benefit from. Not to mention we are still being affected by racists policies even in 2024. The government and businesses already know this they are just trying to avoid the truth

[@lindar6326]

​@@IrresistibleWitchPAY UP OR THIS NATION WILL FALL, IT OWES 40 ACRES AND A MULE SIGNED BY THE FEDERAL GOVERNMENT, MOST IMPORTANTLY, FOR CRIMES AGAINST HUMANITY POST SLAVERY AND ONGOING !!! PAY UP¡!!!!!!!!!

[@mrbrainchild7637]

​@@IrresistibleWitchNot your call and definitely not your concern. Your comment is asinine. It's like saying children of wealthy parents shouldn't get their parents money since they didn't work for it. You don't get to decide or determine how injustice is corrected.

[@NewCurrencyClub]

This is such an important topic! Thanks for creating this video 💚.

[@mtaylor4523]

We talk about this all the time and yet nothing has been done.

[@kennethg.allensr.715]

What an eye opener, I must promote this information to 40,000,000, Black people ASAP.

[@Mike-di3mo]

This stuff still happens now.

[@Rashaadthegr8]

Buy black whenever possible and as much as possible. I been doing it for decades since FUBU.

[@CrowdPleeza]

I'd like to see black people get to the point where we will support black owned businesses without there needing to be a campaign. We always seem to have "buy black" campaigns. You never hear of Asians having a "buy Asian" campaign. They just buy from their own naturally.

[@Dracon7601]

I don't think that will save us, we do that as a whole for generations but how many black businesses say support unions to help other black people.

[@Rashaadthegr8]

@@Dracon7601 we don't do that enough. This is a white owned platform we talking on now for example. Is your doctor,lawyer, and the person who sold your house black? Nope.

[@colincole7075]

That won't help you got to keep it in your community

[@watsonanthony8438]

I’m not buying Jordan. Until he fixes the hornets

[@12oclockpiff]

Went to college in Durham, NC. My fraternal organization banked with M&F since the establishment of the chapter.

[@VedaDixon]

This is a very interesting and informative report. My experience with a black owned bank has been one of incompetence, disorganization and lack of accountability. I never received a debit card after 3MONTHS which limited access to funds. The bank’s hour were within my work hours so that they opened after I was scheduled to report to work and closed before I got off work. No debit card means no atm use. And yet they continued to try and charge me a monthly fee. The bank internalized and imitated the actions of those whom this report charges as oppressive to “black” people. Really interesting

[@TheCheckerboardfloorpodcast]

It really trip me out how everyone plays dumb about black peoples placement in this white supremacies system, but they really know what happened and still say it was so long ago and no to reparations.

[@Deez276]

People who have to cheat to stay ahead of you aren’t going to have the capacity to figure that out on their own.

[@foodiusmaximus]

That’s a feature not a bug. They know human lives with human feelings and human relationships are at stake. They have to play dumb or risk the weight of a thousand mountains coming down on their hearts in the late hours of the night before falling asleep.

[@calvinperrier541]

Within this system there will always be an unbalance because of the way it started.

[@sunalwaysshinesonTVs]

Anyone else hear that part about Red Lining, how blacks as a result were forced to turn to predatory lenders, then think, "wait, wasnt that the 2008 Great Recession?"

[@BackyrdBully]

Durham NC here.. Excellent video! Thanks for the amazing content.

[@rjakob8073]

Having grown up in Boston, during the school busing desegregation years 76, 77. Racism at that time in our nation was hyped for many negative reasons. Now, 50+ years later, I still see racism every time I turn a corner it is in every segment of our society. Racism begins at home. Unless parents take a stand against this behavior nothing will change. Furthermore Americans don't talk about these problems yet, when issues arise people avoid it. Our nation has some high & mighty words in our Constitution. Change begins at the top, as well as at home and in this case "the top is" the U.S. Presidents office, and let's face it folks that type of needed leadership has been gone sine 2016, and now with this recent presidential election ending, the lies and corruption will be allowed to continue for another 1,475 days until felon Trump's term ends!

[@IAMGROOT4EVA]

The white mob doesn't show up to your house anymore. They just relocate to another area as soon as a black family moves in. Watch how fast those realtor "For Sale" signs go up when you move in

[@FLIP205]

Yep

[@TMoney-wt1cw]

That’s more houses available for black folks right? And also why do people complain when white people move out of neighborhoods, but then simultaneously complain when white people move IN?

[@Kish-wm8tu]

Nope no taxes that needs to be our reparations. Say you have no money to give us every year then let us keep ours.

[@joshuaohuka7719]

This helps no one... It's just assuages grievances... It doesn't solve anything...

[@demetricklouis5710]

@@joshuaohuka7719 Tell that to the wealthy, don't trump paid no income taxes for nearly 10 years. Trump era tax cuts saw 45% in benefit to wealthiest. You say that it helps no one but I don't hear wealthy Americans complaining.

[@joshuaohuka7719]

@@demetricklouis5710 yeah... true as that is... black communities choosing not to pay taxes is not going to help anyone... the greedy rich will get what's coming to them... but my concern now is the emancipation of the black American populace... which can't happen without the government being involved... which can't happen without tax revenue...

[@theconcealedmistress]

​@@joshuaohuka7719emancipation of what?

[@demetricklouis5710]

@@joshuaohuka7719 there is no option to not pay taxes if anything black communities pay more in average in taxes. Black Americans are more likely to have two equal wage earners contributing roughly the same amount. Tax law gives the single wage earning household a tax cut. But the other household, with two full time workers contributing equal amounts, they don't get a tax cut. And for decades they paid higher taxes. The median income for Black households was $52,860, according to the U.S. Census Bureau. That's compared with $77,250 for white households in 2020. So black people earn less and are taxed more. Thus far the current system seems disinterested in taking up black causes despite black contribution. Reparations is not even about that though. It is about paying a historical debt. For generations one group of Americans was allowed to create generation wealth on the backs of another. They have gone on create fortune 500 corporations, and institutions. Entire state economies and up to 60 percent of US GDP were created from uncompensated black labor. That's what's owed. It not a gift are a tax break. It's payment that's long overdue.

[@brianallen3991]

WE WILL RISE.

[@HonorableHakeem]

Thank you so much for speaking truth to power. We are in a bad situation financially in this country. Raising us will help the American people as a whole, because we love other communities. We'd help serve those communities with our money

[@edartis]

This video was amazing! Earned my subscribe

[@michelle2484]

Reparations is about cash

[@robertorobinson5021]

U have already received reparations, it's called welfare, 60 years...

[@rashidaadekoya5518]

Read “The Color of Money”. Explains the reason for the gap.

[@deltaillsounds]

Nothing change still rolling strong

[@1111reasonz]

I love learning. And moreover I love having a reference in which I can refer to thanks pbs 😅😅😅

[@Ellis-ef1ig]

This is excellent! I’ve often wondered the answer to this complex question. After viewing your most informative document, we clearly see that it has not been that blacks are lazy, but rather that they have lacked support and acceptance. How sad…mankind must do better to show love and do all within their power to help their neighbor, especially the poor and those with no helper. Thank you🎉

[@mahalia_kendrick]

I turned 40 today. I meet with 2 financial advisors earlier this year who estimated my net worth between 1.6 and 1.8 mil. I live in the middle of nowhere, work a bluecolor job in a very poor state, have an associates degree from a votec school. Anyone can do what I did. Most of my net worth is my 401k. The next chunk is my paid off house. I haven't had debt in years and live well below my means. I dont lose sleep over the housing market or stock market swinging....

[@Jessrobbie]

I was able to save a lot of money in 3 years. I landed a 3 year consulting gig paying over $100K a year. I reside in the mid-west where there is a lower cost of living. I lived with my Mother ( I paid her rent). During this time I also paid off my $15K student loans and $18K Jeep. Now I have zero debt, still making over $100K and able to focus on building wealth via investments, etc.

[@danieltrammell9974]

That good I hope you have a Roth because you're partner uncle Sam want their part of the investment, paying off your home if you don't put it a Trust not in your name or family members, or blood as Trustee, Medicaid, or being sue, can take that home 😮

[@arnoldkingiii6954]

Reclining is still happening today. Everything is done by design

[@CrowdPleeza]

Reclining? Always double check that auto spell feature. 😊

[@at8981]

Yeah mane cuz we gotta bring down da property values when we move in mane dats cause we bring extra flayvuh to da neighborhoods mane with out bullets n drugs n bad manners n shiet mane.

[@OliveThe]

​@@CrowdPleeza the world is on a recliner chair

[@EverythingEnnett]

You said it right … people of color need to get out that reclining chair and start working.

[@elderdwaynehull5377]

Great video

[@CAhmadDavis92]

The color of money is a great book on racial inequality in banking.

[@Baman21]

Sthe color of law is good also

[@brownjonathan86]

This was a great video to the exposure of the wealth gap although there were a lot of details left out about the wealth gap. I would urge anyone that is interested in what this video had to say to do more research into the historical incidents that has lead to the wealth gap as well as the current social economic patterns to gain a more complete understanding.

[@LanerGuy]

From my understanding, it's probably really not a good idea to mention or otherwise speak positively about "Greenwood 'Bank'". For one, it's not actually a bank. In fine print on the bottom of their home page, they say that "Greenwood is a financial technology company, _not_ _a_ _bank_ " (emphasis mine). For two, it's certainly not Black-owned; Greenwood is a white-own institution. This is overall a very solid video. But that Greenwood portion is very much a mar to it. And I'm sorry it ended up getting included.

[@teetee2404]

I’m so sick of talking about this. We all know that this country owes us millions for building this country. They need to pay what they owe. They’re scared to do this because they know what we are capable of. We have made wealth from nothing just for it to be taken by forces for some evil, envious, lazy people.

[@Bsb0830]

teetee2404@ What did you build?

[@Omer1996E.C]

​@@Bsb0830 alot of white ancestors owned, that got inherited. You forgot our farms? Black lost lives in the civil war (which was a great hoax on us from the government), lives in both world wars that the black didn't get rewarded for when the whites had their unfair shares, the systemic racism is real, you are just too racist without knowing

[@anng2921]

Billions; 1 trillion per state (contiguous 48) including acres of land...

[@mademia9764]

​@@Bsb0830Everything that exists.

[@khiemdee4573]

Popeyes

[@jayd87ram]

All black people should get there “VISA” credit cards 💳 from a black owned bank 🏦, this strengthens our black banks.

[@ohenenana4392]

Please give us a list of black banks.

[@NNOutBurger_Gaming]

@@ohenenana4392Here is a list I found online: Carver Federal Savings Bank. City First Bank. Industrial Bank. Greenwood*. Hope Credit Union. Liberty Bank and Trust Company. OneUnited Bank. Securityplus Federal Credit Union.

[@khiemdee4573]

Uncle Sam

[@AJJohnson-o8l]

Thank you for making this video. We need to see more of this now matter what ethnic background the host may be. The bottom line is she is giving us the truth.

[@starzalign25]

Great job! Reposted to spread the education. ❤ Keep up the great work!

[@elchapojr6219]

We need Black Wall Street back

[@AshleyBaxter-m6c]

Black Wall Street was rebuilt but then it had a highway ran through it.

[@mayy9685]

They are still doing this. Does anyone know any good reputable truly owned black banks ?

[@kchal0]

There are many black people today that are doing very well. I think the best thing we can do today is spread our knowledge and help up lift each other. We got a late start but better late than never and in one generation we could easily flip the script. Plenty of ways to build wealth without needing to be an entertainer or professional athlete.

[@Bsb0830]

kchal0@ A Fidelity Investment study found that 88 percent of all millionaires are self-made, meaning they did not inherit their wealth.

[@willharriman1881-z9b]

A few visible race tokens is NOT serious change!

[@kchal0]

@@willharriman1881-z9b come visit in Texas. There are whole black communities full of millionaires, me being one of them. I’d be happy to introduce you to a few people if you are ever in town. There is a lot of knowledge that could go a long way in other communities in our nation.

[@LafemmebearMusic]

Gotta have money to do something besides sport or entertainment. The good schooling that leads to good opportunities means you need to live in areas that have well funded schools. I think what you’re saying on paper makes sense. But realistically, I think your take doesn’t consider all the nuances that keep a black child from ending up down the path your suggesting exists.

[@willharriman1881-z9b]

@@LafemmebearMusic You are quite right! When America expanded into the west, whites merely took the land and all its resources for free! Blacks were not included in that! Things like that make a vast difference!

[@tel5690]

This also should be taught in schools..in the early years

[@AnthonyFlowe-s2m]

This is a perfect example of a social construct.

[@jamesmurray8558]

We get worked to death and only get quarters to the dollars.

[@EmeraldsQuartzLight]

Look at their grandchildren.

[@GAURAV25855ify]

Most Americans live pay to check to pay check

[@troyprice5434]

I think homeownership and investing in the stock market helps close the gap. Even if you were left behind do all that you can to catch up and educate future generations

[@foxtrotwolf6081]

It's why their young people are more likely driving Mercedes, BMW, and Infiniti while Asians are stuck in Toyotas and Hondas.

[@tashaingram7160]

Great segment!!! I wish there was another version uploaded without the music- it was distracting.

[@noblegirl1991]

They had a very good head start, In current day pay disparities

[@treztracks]

Foundational Black Americans B1

This video is awesome! Very informative and so true!

[@hazelisdreaming]

13:23 "Reparations doesn't have to be a boogeyman concept. Access is a form of reparations." SAY IT LOUDER. Money and access without predatory barriers

[@at8981]

Yeah dey need a government program to send us all 10k a month in reparayshuns n shiet and add on interest and cola so we can all live like mansa Musa mane 100 gorillion dollars to each black person mane we do so much for da economy n shit

[@truechartist7841]

​@at8981 , nice try. What you wrote it's obvious...

[@kaidakemes1260]

Good report

[@Prof_Cos]

Very good historical context, except for the 'Black and Brown' talking point. At that time, it was mostly Black vs White, not brown.

[@Doomroar]

Can't wait for the FDSignifier video response

[@Mr.Witness]

What do you think that “experts” response will be?

[@DarkPesco]

It is not uncommon to see folks referencing influencers. It is RARE to see a comment for a lesser known influencer you also follow! I saw your comment before the video even started and came here to let you know I follow the man, too...also his extra channel, "B-sides". I look forward to this video more and feel like I'm among friends!

[@DarkPesco]

Gave you props already for noting one I follow...but it seems to not be showing up. I follow Sig and his alternate channel! Good to see there are more who are also vocal!

[@Aabil11]

Adam Connover did a great summary of this as well over on Adam Ruins Everything