Black People : A NEED FOR BLACK CURRENCY?

Discussion in 'Black People Open Forum' started by Therious, Jun 26, 2004.

  1. Therious

    Therious Banned MEMBER

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    FAM,
    I THINK WE COULD BENEFIT GREATLY IF WE BUILT OUR OWN CURRENCY SYSTEM. FOR AA'S AND A'S ALL AROUND THE WORLD. wha would it take, how can it b done, can it be done? who would you want to c, on the money?
     
  2. panafrica

    panafrica Well-Known Member MEMBER

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    This is an extension of an idea I posted in the PanAfrican forum: The United States of Africa. I don't think this idea would work within the US, because I don't think we could completely separate our economy from the mainstream, while still living in the US. In our own country; however, it could definately work.
     
  3. NNQueen

    NNQueen going above and beyond PREMIUM MEMBER

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    I agree Brother Pan, especially now that Western block countries have created the euro-dollar. What would be the value of our currency as compared to the American dollar and how would it be possible that we could compete if we have no independent resources? What would we base the value of our currency on and where would it come from? How would we generate and accumulate wealth? What types of natural resources do we have control of and just as importantly, that's in great demand? What industries would contribute to our GNP? (Well that might be a moot point if we don't have our own independent nation). What type of commodities would we trade in the world economy? It's more than whose face is on the currency, it's more about what it's worth when you go to trade it. If I'm wrong, then please educate me.

    Queenie :spinstar:
     
  4. deepy

    deepy going above and beyond PREMIUM MEMBER

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    Didn't Tony Brown try to start this a few years ago when his tv and radio shows were broadcast nationally? It, of course, did not work..Mainly because the African=American is so fused into the monetary systems of the US..so like Pan Africa i don't think it could work here.
    Question..don't some independent African Countries have their own currency? I know Madacasgar has..but it is valueless outside of the country but the concept of a united African Monetary seems like powerful and good thing...
     
  5. Therious

    Therious Banned MEMBER

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    ok, i understand ur points. one thing thats is in high demand is our entertainment, music, atheletes art,clothing, language ect, ...... i was thinking more along the lines of hypothetically, but this is a good turn the post is taking. what would the value be? well im not thinking on terms of trading w/ europe or anyone else but aa's To START, intnl. trade would come later. ...

    this would have to start, small and be cultivated over time. say we start buying only music, movies, art work ,only w/ black paper-in blk businesses. agriculture would be something easier to start, say farmers open markets where u.s. currency and this new currency is accepted. if u couuld buy food w/ it similar to food stamps.a lot of people wear sports jerseys of famous atheletes, and attend games. again in a food stamp manner this currency could be used for a discount

    .so u ask how would the seller benefit?? well the farmer at the market could take his currency recieved to the record store, or the sporting goods store, and purchase or recieve a discount on those goods sold there-and vice versa.i saw a black dude than created and published a "rap slang dictionary" targeting white parents that couldn't understand there kids. so if this book could be bought w/black currency then the seller could by food,music,clothing,ect. this might work...yes eventually it would be needed for more "staple" type products

    snow ball effect is what im visioning from cds,videos,clothing,apples and oranges to cars, houses, health care. but first u.s. currency would be used to set up factories, distribution centers & so forth. then black currency would be used in these venues first as discount material, i think this would be a good start.



    i know there are many complicated details, i dont have all the answers,i disagree though<<<<< i think it could work. i know, i know, were not doing enough of these things w/ u.s. money. again just a thought ......
     
  6. NNQueen

    NNQueen going above and beyond PREMIUM MEMBER

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    How would an African American economy address the issue of poverty and economic stratification among African Americans? If it was based on the same principles of capitalism, wouldn't it simply perpetuate the same issues except instead of Benjamin Franklin's face on the currency, it would be Malcolm X? One thing about the faces on the American dollar, they were all in agreement with the basic economic system. Can we say that about ALL the Black leaders that you named, Brother Therious?

    I'm not saying this is a bad idea. I'm just saying that we have to take the discussion to a much deeper level than just exchanging one face for another.
    Don't you agree?

    As we exchange goods/services for AA currency, but there has to be something of value that backs the currency doesn't it or are we simply bartering? Unless AA's have the purchasing power or own the resources needed to produce the products necessary to BUILD factories, grow food, create music and movies...etc. I don't see how this would work.

    I'm no economist so someone more knowledgeable would have to educate me as to how AA's can create a separate currency and based on what type of economy. It just seems that so far the discussion is not starting at the beginning but in the middle of the equation.

    I suggest as Brother Pan mentioned that we obtain a united state first based on a system of government that is conducive to AA's and Africans in the diaspora, build a solid economy that doesn't disenfranchise nor alienate people as a result of disproportionate wealth, design and implement a healthcare system that covers all of our citizens, has a solid and profound educational system that reacquaints us with our past, helps us to understand our present and motivates and positions us to move profitably into the future....feeds us with healthy foods and clean, pollution-free water by respecting our environment, has competitive businesses and industries with strong export capabilities...etc etc My question therefore is, are we ready to run when we haven't yet learned to walk?

    Queenie :spinstar:
     
  7. Therious

    Therious Banned MEMBER

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    yes i agree with ur take on capitolism, maby this could work in a more giving way. i always said if we all gave each other a dollar wed all b. comfortable.(maby)
    the faces on the currency was just really trivial, for fun (i modified my original post by the way). i agree, thats why i said starting businesses, could accept u.s. dollars as well as new currency. also i stated we are not doing enough building with u.s. dollars(in terms of factories ect.) as it is. i agree this would not solve the problem, but u gota start some where. like i said food would be a good place to start, there are a number of black farmers. there also black people making moves now a days towards manufacturing. for expl. damon dash c.e.o of rokafella records just purchased the entire pro keds shoe company. the same company that manufactures g-unit sneakers (50 cents crew). he also owns his own label of vodka.<<<not saying anyone is willing to participate, but just an example that there are peoples moving towards Total ownership.
     
  8. NNQueen

    NNQueen going above and beyond PREMIUM MEMBER

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    Brother Therious, I guess you can tell I'm enjoying your topic! :)

    Tell me, what value you see in AA's having their own currency versus us putting to better use the one we already have.

    Do you see any value in taking an old fashioned concept and putting it to good use in modern times....the bartering system?

    For example, say I own 100 acres of vacant land in a rural setting but I don't have the means to develop the land. There's a small mortgage on the land and as owner, I want it to pay for itself. It's prime property with good drainage and rich soil so it's good for growing vegetables, raising cattle, or growing trees for lumber. It's also good for either residential or commercial property. Let's say it's within reasonable proximity to a small local town that is growing and other major cities. What are some of the ways that I could put the land to good use so that it can pay for itself, be beneficial to helping our people and how can I barter goods and services to develop the land?

    Queenie :spinstar:
     
  9. Therious

    Therious Banned MEMBER

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    capitalize off of capitalizm, this would involve building on current currency. the problem, people do capitalize off of people, instead of simply making capial. queen u r right, to build solid on what we have, but wouldn't building one pan/a state eventually involve an exclusive currency? naturally you would build on the dollar 1st but i think any new paper currency in neighbo
    rhoods could catch on quickly. electronics and such, even though not mass produced buy us, could b resold buy us preliminarily,. ,any business started could accept these papers,or cupons. to the point where a distributor, and buyer/reseller can use this for a single good, in a single network, then resell for common/us dollar.. again this would be a start....
     
  10. NNQueen

    NNQueen going above and beyond PREMIUM MEMBER

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    Brother Therious, by no means am I an expert on the subject of currencies and such as I was just throwing out questions and ideas hoping that anyone who knew more would contribute and help us to build on your idea. To answer you question as to whether I think that eventually we would want to have our own currency once we become a nation state, I would suppose that we would. Every country has its own from what I can tell. Some country's currency have greater VALUE than others. Dollars, Yen, Francs, etc. are worth more in trade than say Pesos.

    As I think more on what I think you're saying, I'm wondering how the Cubans managed to come here, create their own internal financial system such that they were able to start banks, hospitals, thriving businesses...an entire infrastructure that supports their community. Jews have done it too, all while living in America. What, if anything, can we learn from them?

    One thing I've noticed is that Cubans primarily confined themselves to a certain geographical location and made it their own. Jews are spread out all over the country but they seem to have a common thread that is ingrained in their jewish culture so no matter where they are located, they bond and do similar things throughout.

    African Americans, on the other hand, are not concentrated in one geographical location. We have no common political or spiritual culture that binds us together. We seem to have common social views though, but is that enough of what we need to come together?

    We are extremely diverse among ourselves and are not tied to any one particular cultural norm. We don't have a place we can go to when we're new to a community, to seek assistance with settling into the community, i.e., finding employment, owning a home, or starting a business...other than the same resources that europeans go to and without the same success, I might add.

    Asians, Latinos, Middle Eastern, Caribbean and African people have "welcome" committees that greet them upon their arrival here. AA's are just.....here.... congregating in different churches, separating among different community organizations, mostly living independently and not behaving as a community other than in name only and sometimes on Sunday depending on which religion you practice.

    So, having written all of that, what can AA's do and why would they want to?

    Queenie :spinstar:
     
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