What is the basis of all wealth? Some people say land, and they would be partially correct. Even in our digital age, you still need land to engage in meaningful economic activity on a broad level. However, let’s say you’ve amassed 1,000 acres of the most productive farm land and 100 acres of aggregated urban infill lots to build a mixed use community, then the government steps in and claims it all through eminent domain or some other shenanigans. Where is your wealth now?
No, the basis of wealth isn’t just land. It’s sovereignty and the ability to defend it. Without that, your land really isn’t yours. This is why most Black people miss the big picture when it comes to building Black wealth.
It’s not enough to invest in real estate, stocks, bonds, commodities, venture capital, or private equity. If you are not a citizen of a powerful sovereign government that will use its full might on a international stage to protect you and your interests, your wealth is fleeting at best, and at worst it can actually be easily confiscated and turned against you (like what happens with Black people in America).
Here’s the cold, hard truth for so-called African Americans...any wealth that you have accumulated within the United States, subject to its laws and financial jurisdiction, IS NOT YOURS if you can’t defend it. This is partly why I’m such a big advocate of crypto, because any money or financial assets that you have in a US financial institution can be frozen or seized at any moment, and you have no real recourse.
This is also why we need to think bigger when it comes to building Black wealth. It’s not enough to simply accumulate more financial assets, start more businesses, buy more land, or create more Black millionaires. We need to start thinking of strategies to build sovereignty. This is what we mean when we talk about nation building. You cannot build a nation without self-determination and self-governance.
My book, In The Black 2050, has some solutions to begin this process for people in the African Diaspora, but there are some parts left out that will need to be addressed by individuals and organizations that are serious about Black wealth and Black empowerment.
However, until we start organizing our human and financial resources and operating on an international level, this is all useless theorizing.
- Organizing existing Black capital into investment clubs, funds, and endowments.
- Using these funds to invest in companies in strategic industries that create jobs and wealth in the Black community and fund critical social institutions.
- Accumulating real estate in concentrated, strategic areas, and moving the physical assets and operations of the portfolio companies (from #2 above) to create jobs in those areas.
- Once a critical mass of people and jobs have moved into the strategic areas, local governments can be secured and policies implemented to further secure and build wealth and strengthen the community and culture.
- Establish diplomatic and trade relations between these communities in the Diaspora and Africa as a part of the Sixth Region Initiative of the African Union.
- Acquire sovereign land as a base of operations and to build a new Pan-African nation not bogged down in tribalism or historical baggage (like what Liberia could have been).
- Establish this nation as a technology hub for Africa and the Diaspora.
Now is the time for meaningful action. Join us.