I am no genius, but I specialize in spots and I stay in those spots. My spot is high level finance. I believe that my financial IQ is higher than most people which allows me to see opportunities where others don’t. Just like a social justice warrior can overlap terms and concepts in their space to find oppression or an engineer can overlap terms and concepts in their space to create a new widget, I do the same with finance and business to create wealth. So hear me out.
This post is about the overlap of bouncing the black dollar and our 1 trillion dollars worth of spending power. The problem is that for too long we let those two things operate in isolation. The truth is that when you combine spending power with a bounced dollar you multiply the spending power within the community. This is seen in other cultures like the jewish and Asian community where they bounce the dollar more than ten times before it leaves.
The dollar lasts in the black community for 6 hours. It doesn’t even bounce once. This can change with the use of black business and banks more but we have to look at the effects of not bouncing the black dollar. So many people protest “white supremacy” and then fund it with their tuition, rent, mortgage, savings, etc etc. When we (the African American community) use our 1 trillion spending power for the 6 hours that the typical dollar lasts in the black community we are using that money that could fund our solutions to actually fund other people’s wealth.
My idea is that if we bounce our 1 trillion in wealth we will eliminate issues in the black community without any need for infused wealth from other sources. In order to do this we have to make a conscious effort to exclusively use black vendors. We cannot afford to allow dollars to casually slip into the hands of others. Do we have to do this forever? No, but we have to at least make an effort do do it. The beauty in this is that if we at least bounce the dollar multiple times we can afford to let some money leave. We just cant afford to continue to never let it bounce.
Why is bouncing the dollar so important? Because it allows you to use the same money over and over and over again. When you take ten dollars and pay for a haircut and then your barber buys lunch from a black business and then that black business pays their black employees you stretched your dollar four times! You turned 1 trillion into 4 trillion by way of strategy.
There is nothing that we can’t do. However, we have to use our mind to find ways instead of just taking the typical ideas and “solutions” that are handed to us. The wealthy invent money they don’t just comply with the norms of society. We have the ability to create wealth in your communities, we have the ability to create housing in our communities, we have the ability to create safer communities through our thought effort and sweat equity. Choose to be the solution not merely a person who points out problems.