“A community is a common unit moving in the direction of unity” - Robert "Big ROB" White III
the margin rate so the smaller bank or money-operator makes a profit for exchanging the currency. For example: If the Interbank Rate for converting Euros to British Pounds is 1.18 and the small bank or money operator charges you, 1.16 as an Exchange Rate, that means you paid 0.02 in the Margin Rate, also known as the Exchange Rate Margin.
Big Rob: Many of our businesses and institutions far too often find themselves in a place where their existence is short-lived or stifled due to lack of support and resources. There are so many brilliant ideas in our community that can’t get off of the ground due to a lack of resources. This is where we, as everyday responsible consumers and community members, come into play. It’s up to us to take a consistent, open, and honest look at our efforts to support our own. We must challenge ourselves to go above and beyond to patronize Black-Owned Businesses THAT HAVE A VESTED INTERESTED IN ADVANCING OUR COLLECTIVE PLIGHT. It’s my belief that supporting a Black-Owned Business that only looks to get rich off the community, come up financially individually, or lacks a desire to move us ahead collectively is not the type of business we need to support with our dollars. We don’t need more parasites in our community or culture that simply change the color and complexion. If there aren’t many Black-Owned Businesses in your community that don’t have the desire to advance the collective, then look for platforms like www.webuyblack.com or the www.theblackmall.com to patronize. At the least, patronize the lady on your block selling plates out of her house. In this way you’re supporting your local economy and knowing exactly where your dollars are going. I’ve been seeing a meme floating around lately that states that Black-Owned Businesses don’t need more capital but instead need more support from us. As we patronize our Black-Owned Businesses, we should also encourage and empower them to hire those within their own community. I’m not saying that this will necessarily be an easy task to accomplish, but it’s very necessary. Too many of us have to go to work daily on the proverbial professional plantation for people that don’t have our best interest at hand. How much more empowered would we be if we got ourselves, our family members, our friends, and neighbors
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off of that plantation and provided them with a decent living, fair working conditions, and an environment that promotes a sense of collective good, well-being, and fictive kinship? Support should be a two-way street.
Equity - a person’s ownership in corporation; typically a publicly traded company. Equity is the difference between how much a company owns (assets) and how much a company owes (liabilities). Assets - Liabilities = Equity
Fictive Kinship - a term used by anthropologists and ethnographers to describe the connection people have to each other outside of blood and marriage. By contrast, true kinship, is a term used to describe the connection people have to each other through blood and marriage.
Definition Dede Says:
We vote daily by the use of our dollars. What do I mean? It’s my opinion that even more than participating in two-party politics and the electoral process, that the primary political participation involves our daily choices about money. Profit and power are the primary political engine of capitalism. We either give a vote of approval or confidence to a business, their products or services, and practices by spending our money with them. By patronizing a business we willingly or unwillingly say that we support who they are, what they’re about, and how they do business. On the other hand, by not spending our money with them, we submit a vote of no confidence. We as consumers have to vote with our dollars daily. Our refusal to spend our dollars send a message out that we don’t agree with: • the values or value or things offered, • their business practices, • their hiring practices, or • their social responsibility (or lack thereof) practices, etc. Crowdinvesting is another recent option that makes practicing cooperative economics possible. Crowdinvesting provides everyday people like you and me, non-accredited investors, the chance to buy into startups and businesses on the ground floor. Depending on the platform used, one may be able to purchase equity into a company for under $100. This not only provides businesses and initiatives with capital to start up or expand a project but also gives the person making an investment some type of perk for taking the risk.
Non-Accredited Investor - a person who does not meet the net worth requirements of the Securities Exchange Commission Regulation D.
Securities - a negotiable, interchangeable financial instrument that has monetary value. If it is a stock, it represents ownership in a publicly-traded corporation. If it is a bond, it represents being a creditor to a governmental body. If it is an option, it represents the rights of ownership in a publicly-traded corporation.
POPS: The Securities and Exchange Commission (SEC) is an independent agency of the United States federal government. The agency is responsible for creating rules about investing, enforcing those rules, and regulating how stocks and options operate in the United States. The Securities Exchange Act of 1934 created the Securities and Exchange Commission. One of the laws that SEC enforces is called the Securities Exchange Act of 1933. This law requires that any company who wants to sell securities must register with Securities Exchange Commission; otherwise, they must meet certain qualifications to not have to register. The provision that explains these qualifications so they do not have to register is called Regulation D. Regulation D defines that an accredited investor is an individual who has a net worth of $1 million and earns $200,000 per year or $300,000 per year with their spouse. Anyone who does not meet this criteria is considered a non-accredited investor.
Feature: Meet Robert White III A.K.A. BIG ROB
Koindanomics MAGAZINE
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