Why Black Families Had NO Debt in the 1960s — The Strategy Banks Tried to Destroy! скачать в хорошем качестве

Why Black Families Had NO Debt in the 1960s — The Strategy Banks Tried to Destroy!

Black families had zero debt in the 1960s through systems banks hated: sou-sou rotating savings providing interest-free lending, cash-only living eliminating debt entirely, money hidden throughout homes avoiding bank fees, buy-with-cash-or-don't-buy philosophy preventing impulse debt, community lending without interest or credit checks, side hustles generating unreported cash income. Banks excluded Black people from credit, so we created parallel financial system that worked without them—proved their services unnecessary, demonstrated communities could finance themselves, showed debt wasn't required for acquiring assets. But costs were real: no mortgages in appreciating neighborhoods, no business loans for scaling, no leverage for wealth building, slower accumulation than white families using debt strategically. Debt-free wasn't simply superior—it was adaptation to exclusion with benefits and costs. Banks hated it because it succeeded without generating profit for them.