Friday, June 19, 2015

Multinational Corporations Their Wealth Originated From (Africa) Slave Trade

Multinational Corporations Their Wealth Originated From (Africa) Slave Trade

This is sequel to my previous post: The Hidden History of US Credit Card Empire. Below are names of few companies that have openly acknowledged that the origin of their wealth is traceable to (Africa) slave trade, and others that have apologized for the crime. Hundreds of other companies, like bank of America and many others in Britain, France, Germany, Spain, Portugal, Belgium, Netherlands, are still hiding their heads in shame and do not want to own up to their past.

Indeed Africa made the USA and Europe!. Without the sweat of blacks, the United States would've just been another third world country like their neighboring Mexico or even worse.


The enslavement of African people in the Americas by the nations and peoples of Western Europe, created the economic engine that funded modern capitalism. Therefore it comes as no surprise that most of the major corporations that were founded by Western European and American merchants prior to roughly 100 years ago, benefited directly from slavery.

Lehman Brothers, whose business empire started in the slave trade, recently admitted their part in the business of slavery.

According to the Sun Times, the financial services firm acknowledged recently that its founding partners owned not one, but several enslaved Africans during the Civil War era and that, “in all likelihood,” it “profited significantly” from slavery.

“This is a sad part of our heritage …We’re deeply apologetic … It was a terrible thing … There’s no one sitting in the United States in the year 2005, hopefully, who would ever, in a million years, defend the practice,” said Joe Polizzotto, general counsel of Lehman Brothers.

Aetna, Inc., the United States’ largest health insurer, apologized for selling policies in the 1850s that reimbursed slave owners for financial losses when the enslaved Africans they owned died.

“Aetna has long acknowledged that for several years shortly after its founding in 1853 that the company may have insured the lives of slaves,” said Aetna spokesman Fred Laberge in 2002. “We express our deep regret over any participation at all in this deplorable practice.”

JPMorgan Chase recently admitted their company’s links to slavery.

“Today, we are reporting that this research found that, between 1831 and 1865, two of our predecessor banks - Citizens Bank and Canal Bank in Louisiana accepted approximately 13,000 enslaved individuals as collateral on loans and took ownership of approximately 1,250 of them when the plantation owners defaulted on the loans,” the company wrote in a statement.

New York Life Insurance Company is the largest mutual life insurance company in the United States. They also took part in slavery by selling insurance policies on enslaved Africans.

According to USA Today, evidence of 10 more New York Life slave policies comes from an 1847 account book kept by the company’s Natchez, Miss. agent, W.A. Britton. The book, part of a collection at Louisiana State University, contains Britton’s notes on slave policies he wrote for amounts ranging from $375 to $600. A 1906 history of New York Life says 339 of the company’s first 1,000 policies were written on the lives of slaves.

USA Today reported that Wachovia Corporation (now owned by Wells Fargo) has apologized for its ties to slavery after disclosing that two of its historical predecessors owned enslaved Africans and accepted them as payment.

“On behalf of Wachovia Corporation, I apologize to all Americans, and especially to African-Americans and people of African descent,” said Ken Thompson, Wachovia chairman and chief executive officer, in the statement released late Wednesday. “We are deeply saddened by these findings.”

N M Rothschild & Sons Bank in London was linked to slavery. The company that was one of the biggest names in the City of London had previously undisclosed links to slavery in the British colonies. Documents seen by the Financial Times have revealed that Nathan Mayer Rothschild, the banking family’s 19th-century patriarch, made his first personal gains by using enslaved Africans as collateral in dealings with a slave owner.

Norfolk Southern also has a history in the slave trade. The Mobile & Girard company, which is now part of Norfolk Southern, offered slaveholders $180 ($3,379 today) apiece for enslaved Africans they would rent to the railroad for one year, according to the records. The Central of Georgia, another company aligned with Norfolk Southern Line today, valued its slaves at $31,303 ($663,033 today) on record.

USA Today has found that their own parent company, E.W. Scripps and Gannett, has had links to the slave trade.

According to reports, FleetBoston evolved from an earlier financial institution, Providence Bank, founded by John Brown who was a slave trader and owned ships used to transport enslaved Africans.

The bank financed Brown’s slave voyages and profited from them. Brown even reportedly helped charter what became Brown University.

CSX used slave labor to construct portions of some U.S. rail lines under the political and legal system that was in place more than a century ago.

Two enslaved Africans who the company rented were identified as John Henry and Reuben. The record states, “they were to be returned clothed when they arrived to work for the company.”

Individual enslaved Africans cost up to $200 –  the equivalent of $3,800 today –  to rent for a season and CSX took full advantage.

The Canadian National Railway Company is a Canadian Class I railway headquartered in Montreal, Quebec that serves Canada and the midwestern and southern United States. The company also has a history in which it benefited from slavery. The Mobile & Ohio, now part of Canadian National, valued their slaves lost to the war and emancipation at $199,691 on record. That amount is currently worth $2.2 million.

Brown Brothers Harriman is the oldest and largest private investment bank and securities firm in the United States, founded in 1818. USA Today found that the New York merchant bank of James and William Brown, currently known as Brown Bros. Harriman owned hundreds of enslaved Africans and financed the cotton economy by lending millions to southern planters, merchants and cotton brokers.

Brooks Brothers, the high end suit retailer got their start selling slave clothing to various slave traders back in the 1800s. What a way to get rich in the immoral slave industry!.

Barclays, the British multinational banking and financial services company headquartered in London, United Kingdom has now conceded that companies it bought over the years may have been involved in the slave trade.

USA Today reported that New York based AIG completed the purchase of American General Financial Group, a Houston based insurer that owns U.S. Life Insurance Company. A U.S. Life policy on an enslaved African living in Kentucky was reprinted in a 1935 article about slave insurance in The American Conservationist magazine.

AIG says it has “found documentation indicating” U.S. Life insured enslaved Africans.

Source: http://atlantablackstar.com/2013/08/26/17-major-companies-never-knew-benefited-slavery/

Africason is a Musician/independent recording artiste and a die-hard believer in Africa.
Twitter: @african_school
Web: www.africason.com
Email: info(AT)africason.com
Find my songs on iTunes, artiste name: Africason

Monday, June 15, 2015

The Hidden History of US Credit Card Empire

The Hidden History of US Credit Card Empire
The US is a Big Modern Day Slave Camp

‘’Even if you make your credit card payments on time, the bank or credit card issuer can raise your interest rate automatically, if you're late on payments elsewhere. Such as on another credit card or on a phone, car, or house payment, or simply because the bank feels you have taken on too much debt’’.


Africans!. Be Warned of Credit Card Culture


I decided to write about this topic because lately banks have started dishing out debit and credit cards to Africans. Unfortunately, Africans from Nigeria to Kenya to Ghana e.t.c seems to be ignorant of the negative side of this new way of spending money. 

Though I'm aware credit card history is tied to slavery, but I decided to find out what the US have to say to it's population about the origin of credit cards. I was shocked to have realized no US sources ever said anything about the link between exploitation, slavery and the origin of credit cards. Nobody ever said anything about slaves having to buy groceries on credit and paying later during harvest season. Apparently, the US government do not want it's people to know about the true origin of credit cards. Instead they begin talking about Dinners club of yesterday, a business that had always exploiting slaves using credit offers.

Before I go on, let me say this piece isn't about US or Americans but about Africans. I have nothing against the US or Americans, but must tell the truth to my African people as the wind of credit culture is now blowing our way. I need do this because the heinous crime of exploitation and slavery happened to us Africans, and not to Americans. Because the slaves were not yet American citizens until they were freed. Hopefully, this truth will set one or two people free no matter what location they may be in the world. 

The Credit card bait
African bankers and African population, I want you to listen and listen very attentively. This's a warning!.


You may think credit card is a good thing but it's not. Credit culture is an ancient western capitalist trap to prey on those who do not understand the workings of the evil system of things of this world and the wicked forces of about 147 companies and their capitalist network that control the world's economy.

Do not take credit card offers. Do not use credit cards, unless it's a debit card you've prepaid for. Avoid anything that will lure you into a lifestyle of living on credit. Because once you begin taking credits there's no going back as you can hardly do without it. This happens because you'll see it as a habit and you'll get used to living on credit for things you'll normally afford, if you didn't begin the life of credit. This lifestyle leads into buying things you don't even really need because with credit card the process of payment is made fun and easy and it makes you not feel the pain of payment. Credit card removes the feeling of pain tied with cash payment. It literally makes you constantly tell yourself ''after all I have lines of credit''. Eventually, over the years, you'll take credits beyond your income and you wouldn't be able to pay all your bills. This will make you become a slave working from pay cheque to pay cheque just to pay off your stockpile of debts. This's why the US economy is in a mess now because the US masses couldn't pay their debts. That's ultimately why the 2008 global economic depression happened, and that's why Americans are poor today. 

Are you aware a good number of Americans can't afford to buy an iPhone without borrowing money from the bank?.

Are you aware 90% of Americans can't afford to buy a car and pay for it immediately?.

I mean, if you wanted to buy a car here in Lagos, you just take your money to the car dealer and purchase your car!. No further business with the car dealer, no business with the bank, you have no other business whatsoever with anybody. For this, we live within our means.

Be warned!. 

The link between credit card and slavery


Slavery happened for over 400 years both in Africa and in America, and for all this years African slaves in America had to eat. They also had to buy soap, cocking oil, clothes, cocking pots, all groceries. As human beings they had the same need like every other living person. Therefore, they must buy groceries and whatever they needed at a store. But, there were no stores then as we know it today. The only stores available to them were the ones within the plantation premises.

In order to keep the slaves within the plantation premises and farmland where they worked, the slave owners/masters also doubled as merchants who sell daily commodities, including groceries to the slave population. Each of the slave owners owned a store within the plantation premises. This was the only place slaves could purchase their daily need. I mean, each of the cotton and tobacco plantations spread in Southern US states around Mississippi, New Orleans, Louisiana, Alabama e.t.c also had stores within the premises where slaves had to purchase their groceries. While the slaves worked they could not buy foods, groceries, or any other commodity elsewhere, unless from the store within the masters plantation. This in itself was a method of keeping the slaves within range and not have them go long distance in search of food since there were frequent cases of slaves running away at the slightest opportunity or committing suicide instead of living a life of suffering.

So, basically slaves will go to the masters store within the plantation (merchant stores) to purchase whatever commodity they needed. After purchase completed, the sales person at the store will record the transaction but the slaves will normally not pay immediately. They will pay at the end of the harvest season when they (slaves) get paid. This was the birth of credit in America. But, I must add here the slaves were never being paid initially. This arrangement of paying them came earlier after agitations for freedom and frequent absconding, and suicide by slaves.


Artificial credit card debt scheme


One bad thing that happened though was that even as they (slaves) began receiving salaries but the wages was extremely low. I've heard of slaves getting paid 1cent or thereabout for a week job!. Making matters worse was the merchants would deceive the slaves by manipulating their credit records for the past farming season. The store keepers will manipulate the record such that they (slaves) still owed some money to the store, even when they owed nothing. This scheme was invented by the plantation owners cum store owners to hook the slaves in debt forever by having them roll over their debt from one farming season to the next. Same way credit debts today could be rolled over from January to February to March to April……. and so on. This’s called debt revolving. Revolvers are bank customers who roll over credit balances from month to month, never paying in full. It’s not a new thing people!. 

Unfortunately, this was successful because it gave perpetual grace period for loan repayment but it also made it impossible for the slaves to have some savings, or have some sort of economic freedom, or be able to leave the plantation because they were forever indebted to their masters. This's what it means to be a slave!. Remember, there were no deadbeats because no matter how hard they worked they still get over-charged, and therefore, remained debtors by the next farming season. This well choreographed scheme which modern day credit companies call over-charge is still serving it's original purpose till today. This's why I believe US citizens are slaves (both white and black) because the machinery of slavery and exploitation set in motion centuries ago in the plantations of Southern US states is still in operation and serving it's original purpose with no end in sight. Though this was originally designed to keep slaves dependent on their masters forever but the US economy unexpectedly inherited it. It seems to me that's why it's a top secret. And I can comfortably prophesy that within the next 100 years the whole of US wealth and economy will be in the hands of less than 500 companies. US population will get so poor then that the depression of all depression will happen. This looming depression will be so severe that it will make the 2008 economic depression a joke. 


Credit card enterprise is a legitimate scam, it's an enterprise of the prey and the predator. Eventually, everybody would have to work (just like plantation slaves) in order to keep paying their unending debts. Whether this will mark the end of capitalism I have no idea. But, if the US people will listen to someone like Noam Chomsky this looming economic collapse may be extended but not averted, cause really that's the destiny of capitalism. The destiny of capitalism is that eventually less than 500 companies will own the world's resources. I find it hard to believe Americans themselves remains blind and complacent about this things. Exactly how Rome, United Kingdom, and every other previous world power felt just before their fall. 

Honestly, there’s no need of being optimistic about it cause that’s imminent.


Back to topic......


The Rothschilds, Lehman brothers, and many others began business back in the plantations of Southern US and they were also the original owners of the plantation stores. By the end of slavery around 1865 those little plantation stores have become big businesses on it's own right. The stores had turned to mega stores for the public, it have spread across southern US as departmental/chain stores in Mississippi, Louisiana, Georgia, Alabama, New Orleans, Texas, and has become the only place to buy stuffs by the general population (both whites and blacks). This was literally also the birth of departmental stores which are still present all over the US today. And as departmental stores, they keep using the same old plantation trick by giving out credit to customers. Over time they succeeded in luring more and more people to a life of credit by giving out what they call loyalty cards which authorizes a customer to buy and pay later. And eventually, these businesses grew larger and larger and went on to form banks and insurance companies. As banks, they still didn't stop at that. One of the first policy bank of America made, once credit card technology got to the banks, was to try to lure the US masses to debt by mailing out mass unsolicited credit cards to it's customers and non customers throughout the US. Many people received the card and took the bait. As expected they failed to pay-up and were drowning in debts. It had to take a US legislation to stop bank of America from sending more unsolicited credit cards to people. Why would a bank give you unsolicited money and tell you to pay later?.


Things were yet to take a new turn. Between 1865 - 1877 there was a severe economic backlash as a direct result of the freedom of slaves and their withdrawal from farmlands and also a political upheaval as a result of disputed elections results. Plantations began to grow fallow as there was nobody to grow cotton and enough food for the US nation. So, whites began plotting how to lure slaves back to the plantations. On February 26th 1877 a meeting was called between US political parties to discuss the economic crises. The meeting held in Washington DC, and a congressman known as William Levi, a Jewish was a key architect of it all. At the end of the meeting it was agreed that blacks be returned to the plantations to continue growing cotton and food, else the US economy would inevitably shut down. Former slave owners had to resort to writing very beautiful letters to former slaves, begging them to come back to the plantation for a better pay. Whether some returned to the plantation or not I have no idea but here's a reply to such letters by a former slave named Jourdon Anderson to his former master.

The US owe it's wealth to Africa. We developed their Agricultural industry. We build their railways. We built their cities. We built their sub-ways. We gave them social justice. With black labour, they built their expire. We built that nation!.

Africa have fed kings and queens in Europe and America for too long. Refuse to be enslaved or colonized ever again!.


Conclusion


Desist from credit cards. It's an instrument of luring people to poverty. It's an instrument that will ultimately lead to worldwide poverty and a one world economy. This one world economy predicted in the book of revelation will not happen because people are happy or living good. Rather, it will happen because everybody in the world would be owing serious money (debts) to less than 500 network of powerful companies that control the world. Some of this group of powerful companies have already emerged, and they're so powerful that they control the US government today. Nobody can stop them, because already the US people themselves have said the companies are too big to fail. In future these companies would be very organized globally and so rich and powerful that they would own every business stake in the world, and they would decide who be the president of every single country in the world. They could also stop you from buying or selling no matter your location in the world, unless you receive a chip implanted in your body to enable them track your location at every single minute to guaranty you'll pay your debt. This chip was originally called 666, a mark of enslavement. It will guaranty a universal lifelong single identification, and therefore, that you'll keep paying your bills as long as you're alive.

By Africason.

Africason is a Musician/independent recording artiste and a die-hard believer in Africa.
Twitter: @african_school
Web: www.africason.com
Email: info(AT)africason.com
Find my songs on iTunes, artiste name: Africason