Tag Archives: Financial Stability

07Sep/21
Finance

What Banks Don’t Want You to Know

“Banking is necessary. Banks are not.” ~ Wells Fargo 2004 Annual Report

Fact: The average American doesn’t have $400 in their savings account. This is linked to both poor financial habits and the way the banking system is set up. Banking is the most important business in the world! Without it, all business comes to a screeching halt. However, a little unknown fact is in order for banks to function, they rely heavily on us.

Unbeknownst to most, banks do not lend out their money, they lend out ours. What’s more, they cannot make a loan unless it has a deposit, and we are the source of where funds derive. These monies come from our deposits.

How were we convinced—better yet—lured to supply them with our hard-earned monies? With the help of consistent commercial advertisement, we are duped daily to believe they are the safest place to keep our monies.

Heard of the Fractional Reserve Lending System? Each time you deposit money in your bank, made consistently from our paychecks that create a guaranteed and indefinite supply of funds, banks 10x that deposit that can be then used to create loans that only banks profit from.

If you make a bi-weekly $1000 deposit acquired from your job to your checking account at your bank, they turn it into $10,000 by way of the Federal  Reserve. The bank must keep $1000 on their books BUT… they can lend out  90% (or $9,000) of the now suddenly made up $10,000, affixed with a high rate of interest ensuring profit on top of the gift we give them with each deposit. Now multiply that by the hundreds-of-millions of folks employed and the billions they send to banks!

This is called Arbitrage or the act of taking advantage of the money market with said strategies not shared with the public. While these banking families continue to create bloodline wealth with each deposit, we’re lucky to get 1.8% through a savings account—which often requires a sitting balance of $10,000 or more. 

The greatest fact is you don’t need banks to build sustainability because they were never designed for us to do so. You don’t need their loans nor to store your savings with them to create wealth. But there are a few strategies we can use to our benefit.

How would you like to become your own bank using similar strategies to create a coffer of resources so you’ll never have to apply for a loan, credit, or have to crowdfund?

In order to do so requires a will to forgo what you’ve been taught. I invite you to join the Cryptowoke Financial Sustainability Movement where I show you ways to live off your savings and investments without falling victim to job loss or being taken advantage of in money markets rigged to fail.

Join the Cryptowoke Financial Sustainability Movement 

M’Bwebe Ishangi, Founder and Author 
A Pot to Piss In: Intergenerational Wealth Planning for Black People 
Cryptowoke Financial Sustainability Movement 
cryptowokemovement.com 
cryptowokemovement@gmail.com 
Facebook & Instagram: @cryptowoke

07Jun/21
Finance

How to Fight Racism…Financially

“If Black people started getting million-dollar Life Insurance Policies, the police killings would immediately stop.” 

May 25, 2020, George Floyd was killed at the hands (really knee) of former Minneapolis policeman-naow-convicted-murderer, Derek Chauvin. From May 26th to August 31st, the police killed another 288 people. The same day Chauvin was pronounced guilty, 15-year-old Ma’Khia Bryant was fatally shot by police in Columbus, OH. She was one of six police shootings 24 hours post-verdict! A few weeks before, Andre Hill (age 47) was shot and killed by former cop Adam Coy. April 11th, Daunte Wright (age 20) was murdered by Brooklyn Center, MN officer, Kimberly Potter, who claimed she mistakenly pulled her gun despite tasers being known to be significantly lighter in weight and having bright neon colors to help tell the difference.

Police could’ve used tasers instead of guns in each encounter. Since 2005, 15,000 have died by police—that’s 1,000 annually. Only 104 officers have been charged with a mere 35 convicted of any crime.1 

Unarmed Black people are four times more likely to be killed by police. This civil disparity is continually evident: 

1) June 2015, after shooting nine Black people in a Charleston, SC church,  Dylann Roof was taken by police to Burger King before being booked. 2) October 2020, Lithia, FL, Nicholas Furgason (age 21) stabbed a cop in the neck and then fled. Deputy Charles Williams’s bodycam showed him changing from his gun to tase Furgason without taking his life. 3) On March 16, 2021, eight people, including six Asian-American’s, were gunned down in Atlanta, Georgia. April 22nd—just 37 days later—the  COVID-19 (Asian) Hate Crimes Act, passed 94-1. 

Black people have been the victim of hate crimes since we were brought here to be enslaved, and still, there are no hate crime laws for us! 

When will we realize chanting “Black Lives Matter” and “Hands up. Don’t shoot”  doesn’t work? What does work? Re-read the quote at the beginning of this piece… 

The life/annuity insurance sector totaled $678.7 billion in 2019. If we made sure we’re properly insured, insurance companies would demand and get police reform because death benefit payouts are a major financial loss for them!  Simple, we know what talks; not politricks, not marching, not voting…  shmoney! 

This strategy can lower police brutality AND simultaneously build Black wealth, empowering us for generations! Once we self-determine economically, congress may begin to take us seriously. Even if the killing of our people doesn’t decrease, properly insured, our families are able to create sustainable lives that enable living off annuities. This is the way of the rich! 

Want to know how to use insurance as a wealth-building tool? I invite you to join the Cryptowoke Financial Sustainability Movement. I’ll show you how to live off your savings and investments using insurance and other methods without needing a job. 

Join the Cryptowoke Financial Sustainability Movement 

M’Bwebe Ishangi, Founder and Author 
A Pot to Piss In: Intergenerational Wealth Planning for Black People 
Cryptowoke Financial Sustainability Movement 
cryptowokemovement.com 
cryptowokemovement@gmail.com 
Facebook & Instagram: @cryptowoke

07Mar/21
Finance

Are You Financially Prepared For This “New Normal”?

“If you allow someone to feed you, they can also starve you.” 

Heard the saying, “feed a man a fish, feed him for a day”? Fact: it’s not really hard to fish… once you know how to. When it comes to finances, it has been purposely kept a mystery. Why?  Because this system would rather you let them feed you ‘fish’ instead of you ‘learning to fish’ on your own—and they’ve been successful at it! 

To no fault of their own, our parents told us we need a job to provide – which really means to survive. It was never suggested by them to master money, which enables you to own your time and earn your own income. In today’s world, the latter has become most apparent. With automated jobs on the rise, employment will be different, leaving many jobs we train for obsolete within the next five years. Artificial Intelligence will see to that as we embark on a new Industrial Revolution that will cause millions of unemployed citizens as a result. Since Trump took and left office, a total of 3 million jobs were lost and they’re not all because of a virus. 

Fact is, no job equals no money. Little-to-no finances lead to the inability to sustain yourself as well as compound debt. At this point, the topic of retirement can’t even be a thought, much less wealth transfer! As we witness the instability of this country, realize we don’t have to go down with it. Now, more than ever, is the time to be proactive in planning and then executing a sustainable plan that will cut your dependency on a possibly soon-to-be automated job to sustain yourself. 

There can only be but so many stimulus checks given out. Eventually, we will have to have a way to earn money to live in today’s world. None of our  “leaders” are speaking about this, nor our financial advisors—and they won’t! If we continue to wait for some miracle to “make it the way it was”, this awakening will be ruthless with no remorse.

PLAN IT THEN PLANT IT! 

2020 was either your best or worst financial year. Quarantine made us eat out less, travel and commute less, some got moratoriums on rent/mortgage, car insurance, and other t-bills. And let’s not mention two stimulus checks! But what did you do with it? Did you spend it on the holiday season or invest it? We cannot afford to use the same plan in this new normal. 

I invite you to join the Cryptowoke Financial Sustainability Movement where I  show you ways to live off your savings and investments without falling victim to job loss nor being taken advantage of in money markets rigged to fail.  

Join the Cryptowoke Financial Sustainability Movement 
M’Bwebe Ishangi, Founder and Author 
A Pot to Piss In: Intergenerational Wealth Planning for Black People 
Cryptowoke Financial Sustainability Movement 
cryptowokemovement.com | cryptowokemovement@gmail.com 
Facebook & Instagram: @cryptowoke