ARE THERE TWO BLACK AMERICAS - THE HAVES and THE HAVE-NOTS (Revised)
George "GC" Clarke
C.E.O. at Banneker Financial Services -- Founder of the Black & Brown Central Liquidity Facility Concept
George "GC" Clarke - C.E.O. at Banneker Financial Services -- Founder of the Black & Brown Central Liquidity Facility Concept
(Revised) November 6, 2024
The disconnect between our Black high-net-worth Businesspersons, Athletes, Entertainers, and Politicians is shameful. You and I are primarily responsible for the billions of dollars they have. However, 90+ percent of those dollars are invested in or flow through institutions that are the primary source of Systemic, Endemic, Economic, financial, and Racist Systems (SEEFIRS). If you are in one of the above categories, please search your conscience while buying your private jets, yachts, luxury cars, and mansions; please stop and think about the rest of us struggling under SEEFIRS to make ends meet. The unfortunate reason for this article is that we have no Black-controlled institutions large enough to handle high-net-worth Black dollars – they must go to White institutions.
Our Black high-net-worth individuals and philanthropic organizations don’t think enough about the fact that we actually have the billions of dollars and cash flow to create our own, Black-controlled financial institutions. SEEFIRS has so conditioned us that we don’t believe we can create and control our own economic and financial ecosystem. We do not own or control any major financial institutions; therefore, we have no ability to capture, recycle Black wealth, or facilitate and/or transfer our generational wealth. We, as black people, have never owned or controlled a substantial secondary market. Institutions, e.g., Fannie Mae, Freddie Mac, NASDAQ, New York Stock Exchange, Hedge Funds, Pension Funds, and Multi-Billion-dollar Insurance Companies. There has never been a Black financial institution that was not considered too big to fail.
In total, the white-controlled SEEFIRS institutions hold and manage trillions, yes, trillions of our dollars. The why here is what’s stopping us from taking control and creating permanent, Black-controlled institutions.
What we need to put in place is an Umbrella Black Nationally Chartered and Controlled Central Bank and Secondary Market or a Black Controlled Central Liquidity Facility/Secondary Market (BCCLF/SM) with a possible foreign service desk, which would allow African countries to participate in and support this critically historic facility.
Under the proposed BCCLF/SM institutional umbrella would be:
> Central Reserve Bank/Secondary Market
> Full-service broker-dealer firm
> Full-service all-lines insurance company
> Residential and commercial mortgage servicing company
> If awarded, a reparations management and distribution service
NONE OF THESE INSTITUTIONS DO WE CURRENTLY HAVE OR CONTROL!!
The federal government has facilitated SEEFIRS since this nation’s independence. White settlers pushed Native Americans off their lands with federal assistance. Slavery was legalized, and land giveaways were primarily reserved for whites. Blacks were initially barred from the old-age assistance fund (Social Security). Blacks that owned land were, in many cases, pushed off or cheated out of their land with little or no government protection. The old and new Jim Crow laws and Red Lining allowed for additional oppression of black Americans. Just recently, the only major black-owned 100-year-old insurance company, North Carolina Mutual Insurance Company, was placed in liquidation by the North Carolina Insurance Commission, thereby eliminating the only means of passing on generational wealth within a black-controlled company.
These are just a few of the effects of government and institutionally sponsored Programs/systems put in place - SEEFIRS. A BCCLF/SM is the only feasible way to bring about financial and economic parity between Black and White institutions, along with reducing the tremendous wealth gap between Black and White families. The federal government has facilitated the development of White-controlled institutions, which have had poor track records when it comes to Blacks. Some of these federally funded and supported White controlled institutions are:
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Statistically, if we are the government does nothing to eradicate SEEFIRS it is projected that it would take hundreds of years for Blacks to reach financial and wealth parity with white institutions and families.
Both black and white federal and private institutions have studied and acknowledged this as a critical problem. SEEFIRS underpins the economic, financial, crime levels, employment, and health issues plaguing our communities.
I am seeking funding. Again, we can find ways to fund millions of dollars toward the symptoms and effects of the SEEFIRS problems, but not the permanent solutions. I am available to discuss any aspects of this groundbreaking historic mission in more detail.
Contact: George “GC” Clarke
Forensic Nurse specializing in Psychiatric/Mental Health Nursing at Government of the District of Columbia
3 周Very informative