A new majority Black and Latinx-owned and operated digital bank hopes to make supporting Black-owned banks and businesses a little easier for consumers.
I saw some chapos who assure that China today is socialist, or at least still on a good path towards it, use the argument that given the current material conditions there, the CCP did and is doing the best it can. Isn't it the same here?
It's just that considering I see how hard it is for black people to have anything in Amerikkka today, I'm wondering to what extent "keeping the dollar in the black community" can be done and/or can help. But you're probably right. A poor black man working 3 jobs to pay rent to a black landlord is no better than a poor black man working 3 jobs to pay rent to a white landlord.
Yeah I get what the dude is getting at, but this literally could at the most provide leverage for the black and latino bourgeosie in money circulation, black and latino money capitalists; which could hypothetically give the black and latino petty bourgeois a slight benefit, in their competing quests to become pure appropriators of surplus value, via preferential loans. You know, provided we lived in a capitalist system that didn't have an insanely high organic composition of capital, where it wasn't nearly impossible to actually ascend from petty bourgeois to bourgeois, and where minority-owned banks weren't subject to the same necessities of competition as the regular ones. Which, even if it were the case, wouldn't benefit the black and latino working class
His family still has hundreds of millions of dollars in various ventures though, including a lot of real estate. Lots of officials are in similar positions.
No they aren't. There's six state owned nationwide banks, 12 nation wide incorporated banks (which function as joint stock companies, and have mixed state owned corporation, municipality, and private corporation stock holders), and many incorporated commercial banks that were privatized from old local credit cooperatives (and have a mixed private and local municipal government ownership, acting in a joint stock capacity, like Bank of Beijing is owned by the municipal government of Beijing and Netherlands ING Bank mostly). There are also some completely private banks like WeBank that have popped up in the last decade.
The incorporated banks having municipal government shareholders is also not that different from banks in the US, like local govt pension funds having investments in banks or local investment in credit unions, except the incorporated Chinese banks have the municipal shares as a much larger portion of the total shares right now.
You could argue that since a lot of shares are owned by municipal governments or state owned corporations that most of the banks are joint state and private ventures, but those banks still function quite differently from a straight up nationalized or communalized bank.
Ok this is hillarious, buuuut...
I saw some chapos who assure that China today is socialist, or at least still on a good path towards it, use the argument that given the current material conditions there, the CCP did and is doing the best it can. Isn't it the same here?
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Yeah, I think I'm just a lib lmao.
It's just that considering I see how hard it is for black people to have anything in Amerikkka today, I'm wondering to what extent "keeping the dollar in the black community" can be done and/or can help. But you're probably right. A poor black man working 3 jobs to pay rent to a black landlord is no better than a poor black man working 3 jobs to pay rent to a white landlord.
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Xi Jinping doesn't own a bank lmao.
Yeah I get what the dude is getting at, but this literally could at the most provide leverage for the black and latino bourgeosie in money circulation, black and latino money capitalists; which could hypothetically give the black and latino petty bourgeois a slight benefit, in their competing quests to become pure appropriators of surplus value, via preferential loans. You know, provided we lived in a capitalist system that didn't have an insanely high organic composition of capital, where it wasn't nearly impossible to actually ascend from petty bourgeois to bourgeois, and where minority-owned banks weren't subject to the same necessities of competition as the regular ones. Which, even if it were the case, wouldn't benefit the black and latino working class
:gold-ancom: :gold-communist:
o7
His family still has hundreds of millions of dollars in various ventures though, including a lot of real estate. Lots of officials are in similar positions.
oof Xi is cancelled :kalish:
When you think states and private persons are the same thing, then congrats: you are unironically a lib.
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No they aren't. There's six state owned nationwide banks, 12 nation wide incorporated banks (which function as joint stock companies, and have mixed state owned corporation, municipality, and private corporation stock holders), and many incorporated commercial banks that were privatized from old local credit cooperatives (and have a mixed private and local municipal government ownership, acting in a joint stock capacity, like Bank of Beijing is owned by the municipal government of Beijing and Netherlands ING Bank mostly). There are also some completely private banks like WeBank that have popped up in the last decade.
The incorporated banks having municipal government shareholders is also not that different from banks in the US, like local govt pension funds having investments in banks or local investment in credit unions, except the incorporated Chinese banks have the municipal shares as a much larger portion of the total shares right now.
You could argue that since a lot of shares are owned by municipal governments or state owned corporations that most of the banks are joint state and private ventures, but those banks still function quite differently from a straight up nationalized or communalized bank.