A Quote by Louis Farrakhan
The Koreans that make their money in our community: If we have a Black bank, you'll find they don't deposit anything of what they take from us into a Black bank that would serve our community. They set up a bank in their own community. The Honorable Elijah Muhammad, my Teacher, called people like this "Bloodsuckers of the poor." All they want is to make a dollar, and run.
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Many of the Jews who owned the homes, the apartments in the black community, we considered them bloodsuckers because they took from our community and built their community but didn't offer anything back to our community.
Jews who have been guilty of exploiting the black people in America, economically, civically, and otherwise, hide behind - hide their guilt by accusing The Honorable Elijah Muhammad of being anti-Semitic, simply because he teaches our people to go into business for ourselves and take over the economic leadership in our own community.
When a bank makes a loan, it simply adds to the borrower's deposit account by the amount of the loan. It does not take this money from anyone else's deposit; it was not previously paid in to the bank by anyone. It's new money, created by the bank for the use of the borrower.
What we've done last night is what I call pushing back the risks..If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself? If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders.
If all the bank loans were paid, no one could have a bank deposit, and there would not be a dollar of coin or currency in circulation. This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless situation is almost incredible - but there it is.
Too often, the very institutions that are supposed to protect and serve our community have instead failed people of color, specifically our black community.
If bankers can push the loans and make more profits for the bank, they get paid higher bonuses. They often also get stock options. If the bank goes under, they get to keep all of these salaries and options - and the government will bail out the bank. These guys will take their money and run, which is pretty much what they're doing now.
Then came the second Amsterdam discovery, although the principle was known elsewhere. Bank deposits...did not need to be left idly in the bank. They could be lent. The bank then got interest. The borrower then had a deposit that he could spend. But the original deposit still stood to the credit of the original depositor. That too could be spent. Money, spendable money, had been created. Let no one rub his or her eyes. It's still being done-every day. The creation of money by a bank is as simple as this, so simple, I've often said, that the mind is slightly repelled.
Everything the black people are doing comes from the Honorable Elijah Mohammed. They are black now, they don't want to be called Negroes. This come from the Honorable Elijah Mohammed.
Our whole system of banks is a violation of every honest principle of banks. There is no honest bank but a bank of deposit. A bank that issues paper at interest is a pickpocket or a robber. But the delusion will have its course. ... An aristocracy is growing out of them that will be as fatal as the feudal barons if unchecked in time.
Our investment bank looks like it does because its customers like our expansive network and want to do equity, debt, M&A, custody, move money, deposit money, et cetera.
When I talk about an "empathy bank," I don't mean literally opening up a bank and putting in deposits. What I mean is that the more we can, as individuals and as members of a community, empathize with, understand the pain and uncertainty economic crisis causes other people, the more we lay the groundwork for political change.
The black community is my community - the LGBT community, too, and the female community. That is my community. That's me; it's who I am.
I remember when I was growing up, you would go to a bank to open a deposit, and they'd give you a toaster. A free toaster. These days, if you're a company, and you go to a bank, they could easily turn you away! They don't want your deposits anymore.
We were coming out of the black community with this thing called rap music, which was basically black men yelling at the top of their lungs about what we liked and what we didn't like. It was disturbing to the status quo. It really shook things up. And those in power didn't know what to make of us, but they knew that we had to be silenced, stopped in any way from expressing our outrage.
Who are the slumlords in the Black community? The so-called Jews. … Who is it sucking our blood in the Black community? A white imposter Arab and a white imposter Jew.
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