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Conspiracy Theorists Ask ‘Who Owns
the New York Fed?’ Here’s the Answer.

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Over 100 years later, we finally get the answer.  Luckily for us, Western hegemony is underpinned by the LIE that freedom, justice, and equality of opportunity exists for CHOSSA (Children of Stolen and Sold Africans) in the Americas.  It is a lie that has inflicted a poisonous bite into, as my dad would say, the Americas’ “hind parts.”

I have been hammered, mercilessly, for so many years, by people (including my 2 ex-wives and my 7 children) who think I am a ‘conspiracy nut’ regarding my belief that economics governs politics, and my belief that UK and US Banking Cartels control the cost and supply of the world’s currency.  Ironically, and thankfully, The Freedom of Information Act is the last nail in Capitalism’s coffin.

On February 24, 2020, I was blessed (I am an atheist) to receive an incredible birthday present. That day, Institutional Investor published the above headline, and the following story by Richard Teitelbaum.

The question comes from foil-hatted conspiracists, good government advocates, and sober academics: Who owns the New York Federal Reserve Bank? 

For context, it needs to be mentioned that the New York Federal Reserve Bank is one of twelve privately owned Regional Federal Reserve Banks that comprise the Federal Reserve System, the Central Bank of the United States.  Yes, the Central Banking System of the United States is owned by private corporations which are privately owned by individuals), not federal instrumentalities of the United States government. 

“Examining the organization and function of the Federal Reserve Banks and applying the relevant factors, we conclude that the Reserve Banks are not federal instrumentalities for purposes of the FTCA but are independently owned and locally controlled corporations.” – Lewis v. U.S. (Ninth Circuit Court)

By the way, I am a sober academic.  And if you doubt me, challenge me.  I will be 77 years old in 2 weeks, so make sure you come with truth, based on your own personal experiences.  Age is an important factor in life’s learning process.  That’s why the Mormon Church requires its President, and his two Apostles in the Presidency to be 80 years of age. 

Presently, Russell M. Nelson and his top two counselors who form what the Mormon Church calls “the first presidency” are 97, 89 and 88 year-old white men, all older than President Joe Biden, 79, and Pope Francis, the 85-year-old leader of the Catholic Church.  I’m not at their age yet, so I know that I have a lot of learning to do, and so do you.  Sorry to digress.  It’s my age. 😊

Under the Federal Reserve Act of 1913, each of the 12 regional reserve banks of the Federal Reserve System is owned by its member banks, who originally ponied up the capital to keep them running.

The number of capital shares they subscribe to is based upon a percentage of each member bank’s capital and surplus. 

But the New York Fed – by far the most important of the regional banks – as a matter of policy has previously not disclosed the capital share holdings of its 70-plus member banks. A New York Fed spokeswoman in September declined to comment on the record about the matter.

“To the best of my knowledge, we haven’t had a handle on who owns the capital stock of the New York Fed,” says Connie Razza, chief of campaign and policy at the Center for Popular Democracy, an advocacy group that has pushed for greater transparency.

Now, thanks to a Freedom of Information Act request filed late last year by Institutional Investor, we know the truth. 

II asked the New York Fed for the capital stock holdings of its members as of year-end 2018, as well as for each year going back to 2007. The bank responded with copies of what it calls its Capital Stock Master Report, a compendium of shareholdings of member banks, for each of those years.

The big reveal for year-end 2018: Citibank, the No. 1 institution on the roster, held 87.9 million New York Federal Reserve Bank shares – or 42.8 percent of the total. 

The No. 2 holder stockholder was JPMorgan Chase Bank, with 60.6 million shares, equal to 29.5 percent of the total. In other words, the two banks together control nearly three-quarters of the regional bank’s capital shares.

But does share ownership matter?  You bet it does, but based on the maze they have created, you will have to work hard to understand it.

Each bank, after all, has only one vote when it comes to electing bank directors (their only shareholder responsibility) regardless of stock holdings. And New York Fed shares cannot be traded, shorted, or pledged as collateral.

…From Citibank and JPMorgan, there is a steep drop off in shareholdings. Bulge bracket rivals hold far fewer shares, with Morgan Stanley Bank owning 4.8 million and its affiliate Morgan Stanley Private Bank 2.8 million shares, for a combined 3.7 percent stake in the New York Fed. 

Goldman Sachs Bank USA owned 8.3 million shares, equal to 4 percent of the total, and Bank of New York Mellon held 7.2 million shares, or 3.5 percent.

It may surprise observers that some big holders are affiliates of foreign banks: HSBC Bank USA, part of London-based HSBC Holdings PLC, owned 12.6 million shares, or 6.1 percent, of the New York Fed’s total. Deutsche Bank Trust Co. Americas was the owner of 1.7 million shares, and Deutsche Bank Trust Company 60,678 shares, for a combined 0.87 percent stake. 

Mizuho Bank (USA), an affiliate of Tokyo-based Mizuho Financial Group, owned 819,344 shares. Industrial & Commercial Bank of China held 221,278 shares. 

…Still, it serves as yet another red flag for those concerned with the power of too-big-to-fail banks that the top two banks hold nearly three-quarters of the New York Fed’s capital shares. 

“It’s surprising to see how concentrated it is,” says Razza. That lopsided ownership hasn’t changed much since the financial crisis: In 2007 JPMorgan owned 41.7 percent of the New York Fed’s shares and Citibank 36.6 percent, a combined 78.3 percent

The amount of share ownership plays no explicit role in the complex electoral system that determines the make-up of the New York Fed’s board.  That’s what their mouths says, but it is far from the truth.  It is a complex electoral system, deliberately designed to be so.  Mr. Teitelbaum’s story continues.

A refresher: The nine-person NYFRB board is divided into three classes of three members each. 

Banks elect three class A directors to represent their own interests. The same banks also elect three class B directors to represent the interests of the public. The three class C directors, including the New York Fed’s chairperson and deputy chairperson, are also designated to represent the public interest and are selected by the Federal Reserve Board of Governors in Washington.

One mystery is why the New York Fed would not freely disclose stock ownership to begin with, given that the information can be estimated with some accuracy using public data from the Federal Deposit Insurance Corp. and other sources.  They want to keep you guessing, rather than tell you the truth, which exposes their lies.

The peculiarity of these board elections may endow New York Fed stock ownership with more importance than is initially apparent, says economics professor Andrew Levin of Dartmouth College.

The member banks are divided into three categories – group one for banks with more than $2 billion in capital and surplus (like Citibank and Goldman Sachs Bank), group two for those with between $40 million and $2 billion (like Safra National Bank of New York and Bessemer Trust Company) and group three for banks with less than $40 million (like Tioga State Bank, and Brown Brothers Harriman National Trust).

Group one banks vote for one particular designated class A director as well as one class B director. The group two and group three banks similarly vote for one class A and class B director each.  I know its hard to follow, much less understand, but it is easy to see through the maze once you accept that the process is a ruse to disguise who the controlling powers really are.  Here is what Teitelbaum’s article reveals.

“Given that the ballot has invariably had only a single candidate for each director, there’s room for doubt about whether some big banks might be playing a key role behind the scenes in selecting those candidates,” says Levin, who has served as a special advisor to the Federal Reserve Board in Washington. “There needs to be greater transparency about how that candidate is selected.” 

Levin adds: “No one knows whether the selection process may be subject to pressures or influences behind the scenes.” The process, he says, is “like a Soviet election.”  Seriously, who do you think taught the Russians?

Why is the New York Fed freely disclosing the shareholding figures now? 

The bank, as a privately-owned institution, says on its website that it is not subject to FOIA requests like that made by Institutional Investor – although it says it will seek to comply with the spirit of the law, which it did in this case.

How do you like that ‘swing’ move? “The bank, as a privately-owned institution, says on its website that it is not subject to FOIA requests like that made by Institutional Investor.”  What did the New York Federal Reserve Bank say?  Because they are not a Federal Agency, they are not subject to Federal Law?  They weren’t stupid enough to try that one in a Federal Court.

Following the blowback from the 2008/09 financial crisis, there has been a reassessment of the New York Fed’s reflexive cloak of secretiveness, both internally and on the part of legislators. The opacity of the Wall Street bailout, via its takeover of American International Group, in particular elicited calls for more transparency. 

…And the newly elected New York Fed president, former San Francisco Fed president John Williams, in one of his first statements pledged openness and transparency.

“The Fed is facing a difficult challenge,” says George Selgin, director of the Center for Monetary and Financial Alternatives at the Cato Institute in Washington, D.C. “It’s trying to become more transparent while its operations become more complex. That’s difficult trick to pull off.”

There may just be other forces at work. 

Yes, there are other forces at work, but “Think Tanks” are for another day.

If my writing interests you, I hope you will pass it on to the folks who follow you, and also to the folks who you follow.  I don’t write for money.  My books that offer insight into who I am, and what I am about, including full details for the implementation of Equism, are free. They can be found at my blog equism.net.  Please go to the Tab Links to Books, and click on either one, or both, for you perusal and assessment.  I await your response.

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Jews, Christians, and Muslims: What Ten Commandments Would Moses Offer Today?

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Yes, the Hebrew Moses was an African, born and raised. He spoke Aramaic, a Semitic language.

I have exercised my artistic license to offer what I think Moses, an African, would offer today. With history in his rear view mirror, I believe he would accept my adjustments to Commandments 1–4; while 5–10 being mathematically correct, remain intact. I think we all agree that in today’s dystopic world, there is a dire need for the law enforcement of the 10 Commandments. Every day CHOOSA (Children of Stolen and Sold Africans) bear witness to the paucity of their implementation.

The BOLD print indicates my variation of Moses’s Commandments found in the Old Testament, in the Book of Exodus (The word ‘exodus’ will be dealt with another time). The bracketed is my brief commentary.

1

“Thou shalt have no other gods before me.” — Exodus 20:3

“Thou shalt not have a GOD, much less gods.”

[I offer the following as my commentary regarding ‘God’ and religion.]

“Religion keeps the poor from killing the rich.” — Napoleon Bonaparte

“We have used the Bible as if it were a mere special constable’s handbook, an opium dose for keeping the beasts of burden patient while they were being overloaded, a mere book to keep the poor in order.” — Charles Kingsley, Canon of the Church of England

“When the missionaries arrived, the Africans had the land and the missionaries had the Bible. They taught us how to pray with our eyes closed. When we opened them, they had the land and we had the Bible.” — Jomo Kenyatta

It’s not what you know that hurts you. It’s what you know, that just ain’t so.” — Leroy ‘Satchel’ Paige

2

“Thou shalt not make unto thee any graven image.” — Exodus 20:4

“Thou shalt not make the U.S. Dollar a GRAVEN IMAGE.”

[There is no greater example of a graven image than the fiat currency called the U.S. Dollar. Its worship has created a world of greed, corruption, and evil which humanity has endured for the last few centuries. I think we can all bear witness that it is indeed the root of all of the evil that exists and persists in the world today.]

3

“Thou shalt not take the name of the Lord thy God in vain.” — Exodus 20:7

“Thou shalt not allow the economic paradigm — Capitalism — to exist.”

[The evil of Capitalism is direct disrespect for humanity. My mantra, “economics is the driving force in humanity” makes me laser-focused on the economic paradigm governing our world. Allowing the unethical, immoral, unrighteousness, inequitable, and unjust practice of Capitalism is a CRIME against humanity; and is absolutely disrespectful to Creation/Existence.]

4

“Remember the sabbath day, to keep it holy.” — Exodus 20:8–10

“Remember that every day of your life requires WORK and REST, to keep it real.”

[Human beings require both work and rest for the sustenance of life. In order to sustain ourselves, we must respect ourselves by acting in accord with our nature, which is to be free. “Self-preservation is the duty of each and every living organism.” To practice such means no longer being a slave to the European banking cartels. They have ruled the world since the formation of the British East India Company (December 31, 1600), and the Dutch West India Company (June 3, 1621).]

5

“Honor thy father and thy mother.” — Exodus 20:12

“HONOR thy mother and thy father.”

[We must always love and care for those who cared for us first.]

6

“Thou shalt not kill.” — Exodus 20:13

“Thou shalt not KILL.”

[I won’t insult your intelligence by repeating all of the horrors of the Holocausts Europeans have perpetrated. You already know of the most atrocious. The Middle Passage cost the lives of 20–30 million Africans, and the European theft of the Americas cost the lives of over 50 million Native Indigenous Americans. The wars that the European has waged, not only among themselves, but against Africans, Asians, and Native Indigenous People throughout the world have cost the lives of another 20–30 million people. It is an indictment that must, and will be, adjudicated.]

7

“Thou shalt not commit adultery.” — Exodus 20:14

“Thou shalt not commit ADULTERY.”

[The sanctimony of marriage must be respected, preserved, and promoted.]

8

“Thou shalt not steal.” — Exodus 20:15

“Thou shalt not STEAL.”

[Taking anything that doesn’t belong to you is stealing. That is what the European has been doing since Alexander III invaded, pillaged, and conquered Egypt in 332 B.C. The British bragged that, “the sun never sets on the British Empire.” The Banking Cartels may have shifted locations, but they still carry on their work of world domination. North, Central (including the Caribbean), and South America; along with Asia, African, and Australia (including the South Pacific islands) is land that was stolen, and still is presently controlled by these bankers. Their greatest theft is USURY. As Thomas Alva Edison said, “Interest is the invention of Satan.”]

9

“Thou shalt not bear false witness against thy neighbor.” — Exodus 20:16

“Thou shalt not LIE.”

[Honestly, honesty is a Universal Law that must be adhered to. If you lie to someone, you are “bearing false witness,” and may cause harm to yourself and to others. The ultimate penalty could be your death.]

10

“Thou shalt not covet.” — Exodus 20:17

“Thou shalt not COVET.”

[Covet means to be so jealous of something someone else has, that you want it desperately. After living in the hills and caves of Europe for 40,000 years, the Caucasian emerged with a lust and desire for the world that Aristotle, Alexander III’s tutor and mentor described to him. Aristotle talked of a land that the Greeks named and called Africa; a wonderful glorious Continent that he learned from Socrates, via Plato.]

I conclude with two more Commandment that I believe Moses would offer today.

11

“Thou shalt not tell people that I have chosen you as my special people, privileged with Whiteness.”

[First, it is not true. ALL life is chosen from, and emanates from Creation. Our very existence if proof of Creation, an extremely random process favoring no one. Secondly, all that lie does is build up resentment and hatred against you. We are all special creations, with none being superior to others, notwithstanding our cultural differences.]

12

“Thou shalt not practice Usury.”

[The expression, “neither a lender nor a borrower be” is the best advice one can receive. Charging interest, which is a severe burden to the borrower, that need not be, has been forbidden in Christianity and Islam since they were formed. I offer the following for your consideration]

“Debt’s ancient origin is reflected in biblical admonitions [2,000 years ago] about debt, and the interest payments which often accompany debt. So Solomon warns, “The rich rules over the poor, and the borrower is the slave of the lender.

In Exodus, when God specifies the ordinances for the Jewish people, he includes the admonition that, “If you lend to any of my people with you who is poor, you shall not be to him as a creditor, and you shall not exact interest from him.

Secret Life of Money, Tad Crawford, 1994

That admonition should apply to all humanity, not just European Ashkenazi and Sephardic Jews.

Please offer your thoughts; and let’s talk about specific solutions.

Thank you.

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There Is No Nexus Between Black Nationalism and Marxism: It Is Nonsense To Propose Such!

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I have been following the writings of Dwayne Wong (Omowale) since I joined medium.com ten months ago. He has written some though-provoking essays that I have found interesting. Even though he wrote the following essay in March of this year, my jury is still out deliberating on my younger brother (I am 77, so I can call him my younger brother). I do believe he will be acquitted. 🙂

Why I’m Not a Marxist

This is the final in a series of articles that I published on the topic of Marxism in the Pan-African struggle. I want…

dwomowale.medium.com

Today, he posted an essay that grabbed my attention. My belief that “the driving force in humanity is economics” compelled me to respond.

“…So the lineage of capitalism passes naturally from the earliest Babylonian merchants through the medieval burghers to the early bourgeois and finally to the industrial capitalist.” — The Origin of Capitalism; A Longer View, Ellen Meiksins, 2002

Economics matters. Everything that one does each day, hour, minute, and second, is precisely determined by the economic paradigm that governs one’s life. I hope that he will not be offended by my assessment of his piece that my headline addresses. I certainly welcome his assessment of mine.

The Ideological Debate Between Black Nationalism and Marxism

The ideological debate between Black Nationalism and Marxism has been a topic of discussion and contention for decades…

dwomowale.medium.com

disagree with his statement that, the ideological debate between Black Nationalism and Marxism that has shaped the discourse on liberation and justice within the Black community, “is not an either-or situation, but rather an opportunity to embrace the strengths and insights of both ideologies.”

It is absolutely an either-or-situation.

There is not contest. Black Nationalism is the winner. (Similar to the ass-whooping (70–20) that the Miami Dolphins administered on the Denver Broncos last Sunday.)

There are NO strengths and insights in Marxist ideology that support African Liberation. Marxism is an eco-political European ideology that, by our brother’s admission, “does not directly address racial oppression.” Marx and Engels published their “Communist Manifesto” (1848), to address the issues facing European/Caucasian people, not us.

Just because Marx was an opponent of Capitalism, it does not make him an friend or advocate for the liberation of our people. Both Capitalism and Communism perpetuate our enslavement; and must be understood as an anathema to COLONIZED Africans, Asians, and Indigenous Americans worldwide. (As quiet as it’s kept, the Earth is a “Company Town” operating under European hegemony.

The Colony Called America: Company Town 3.0

How dare I call America a colony, much less a company town? The truth is the truth. I assume you will agree with me…

medium.com

Brother Dwayne correctly points out that, “Padmore, initially a communist, abandoned the Communist Party after realizing that white communists were not fully committed to African liberation. He became critical of the racism within the communist movement and praised Garvey for his understanding of white communists’ racism.”

My brother goes on to say that Garvey, “identified as a self-professed capitalist but was critical of exploitative practices within capitalism.” Rest assured that Garvey’s definition of capitalism was quite different than Adam Smith’s definition. Brother Garvey meant making use of Land and Labor to produce Capital (goods and services necessary for the growth and development of society) was his objective, as it should be for anyone wanting to live in a productive civilized society.

Adam Smith’s Capitalism, which began when Alexander III invaded and conquered Egypt in 332 B.C., advocates the ownership of “private property,” including the ownership of human beings, salaried or otherwise. Garvey did not.

As Brother Omowale said, “Black Nationalism is an ideology that emphasizes racial unity and self-determination for the Black community.” He also astutely observed that, “Garvey, a Jamaican-born activist, advocated for the establishment of a separate Black nation and the repatriation of Black people to Africa. He believed that economic empowerment was the foundation for Black liberation and encouraged Black people to be proud of their African heritage.” I am in 100% agreement with Brother Marcus, one of my icons and mentors.

Brother Garvey’s call for separation and repatriation of American Africans to Africa is the only opportunity we have to achieve Liberation and Freedom. Marcus’s thoughts are African centered. Marx’s thoughts are Eurocentric. The two ideologies will never coincide, correlate, nor coexist together.

The ideological debate between Black Nationalism and Marxism, is “a ship that has sailed.” There is no longer a debate. Black Nationalism, as defined by the Honorable Marcus Garvey, must be our life work. It is certainly my life work.

Adam Smith, Karl Marx, and Me; Capitalism, Marxism, and Equism; Black Folk Need To Know

On February 11, 2023, Rustam Seerat, posted the following essay on medium.com. It is an AI-generated imaginary…

medium.com

Please offer your thoughts; and let’s talk about specific solutions.

Thank you.

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What Does INTEGRATION Mean? Mathematically It Is The Truth; Racially It Is A Lie; Culturally It Is Critical to the Survival of Humanity.

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The Merriam-Webster Dictionary offers several meanings for this transitive verb integration. The importance of each meaning is critical to understanding my answers to the question posed in the above headline.

1: to form, coordinate, or blend into a functioning or unified whole : UNITE

2 a: to incorporate into a larger unit

b: to unite with something else

3 a: DESEGREGATE integrate school districts

b: to end the segregation of and bring into equal membership in society or an organization

I begin with #1, the mathematical definition of integration. “To form, coordinate, or blend into a functioning or unified whole: UNITE” is the whole truth, and nothing but the truth. “Mathematics is Truth.” The concept of unity is acceptable to everyone. Folk would agree that there is strength in UNITY.

But what is the purpose for unity? Are the KKK, the Proud Boys, and the Oath Keepers good purposes for unity? For Europeans, the answer is yes. For Africans, Asians, and Indigenous Americans living in European colonies, the answer is no.

Number 3 is where the ‘rubber meets the road.’ “DESEGREGATE, integrate school districts” and “to end the segregation of and bring into equal membership in society or an organization” speak directly to “Race Is a Lie.” Race, the false narrative propagated by the European is a man-made construct called that has deliberately divided humanity since its inception and is still in effect and in force today.

The belief that race accounts for differences in human character or ability, and that a particular race is superior to others, and that discrimination or prejudice based on race is justified by law is a total human fabrication. Scientifically, no valid fact regarding human behavior can be drawn from the melanin content of a human being’s skin. Melanin is a pigment — meaning color, nothing more, nothing less.

Human beings are shaped by our genetic heritage (bio-chemical package), our parents’ lessons, the “schooling” we receive, our own personal experiences, and “the proverbial environment” as we traverse ‘life’; also, learning from the experience of others who have already gone before.

The hatred, animosity, and divisiveness engendered and promulgated by Race are threatening human survival. The exigent circumstances that we face today demand immediate attention, and immediate action.

I will end with #2, which offers, “to incorporate into a larger unit” and “to unite with something else.” “…Culture is critical to the survival of Humanity.” What does cultural integration mean?

I am very clear that humanity’s survival is dependent on the mutual cooperation of its inhabitants. We absolutely need to incorporate into a larger unit, but caveat emptor. The man-made economic, political, and religious ideologies that perpetuate the hegemony of the ‘ruling elite’ cannot, and will not be carried forward by us.

Africans, Asians, and Indigenous Americans must, and will discard Capitalism, Democracy, and Monotheism in order to survive and thrive. “To unite with something else” is mandatory. That ‘something else’ is a new paradigm, an African centered paradigm.

I have no interest in overturning Capitalism or overthrowing Democracy, much less trying to stamp out Monotheism. If that is what folks want, I say, “let them have at it.”

Humanity wants and needs something different than what we experience today under European rule. Our present dystopia should be proof enough for you.

Capitalism, which has continuously evolved since Alexander III invaded Egypt (Africa) in 332 BC, established and articulated the reasoning for the European collecting and controlling all of the human and natural resources necessary for the production, distribution and consumption of the goods and services essential to the growth and evolution of an organized people.

It was both purposeful and deliberate. And it was concomitant with the Europeans having stolen lands and peoples. Capitalism works for Europeans. It does not work for 99% of humanity. European Capitalism created the problem humanity faces today.

“A problem cannot be solved by the consciousness that created it.” — Albert Einstein

Pope Francis’s recent statement is further proof.

An economic system that is fair, trustworthy and capable of addressing the most profound challenges facing humanity and our planet is urgently needed.”

Pope Francis and I agree.

Democracy, the political philosophy, was developed by Cleisthenes in Athens in 507 B.C. After less than 100 years, ‘democracy’ had reared its ugly head sufficiently for Plato to voice opinion. Founder of the Academy in Athens, “the first institution of higher learning in the Western World” — Wikipedia — and considered the founding father of political philosophy, Plato, was taught by Socrates, an African, and in turn, Plato taught Aristotle, Alexander III’s tutor, and mentor.

Plato believed that the democratic man was more concerned about his money over how he could help people. “He does whatever he wants whenever he wants to do it. His life has no priority.” [Capitalism in its infancy.] Plato did not believe that democracy is the best form of government. Plato’s Republic presents a critical view of democracy through the narration of our brother Socrates (a Greek African):

…foolish leaders of Democracy, which is a charming form of government full of variety and disorder and dispensing a sort of equality to equals and unequaled alike.”

Monotheism is a tool.

“Religion keeps the poor from killing the rich.” — Napoleon Bonaparte

Here is a more telling message.

“We have used the Bible as if it were a mere special constable’s handbook, an opium dose for keeping the beasts of burden patient while they were being overloaded, a mere book to keep the poor in order.” — Charles Kingsley, Canon of the Church of England

And one more, from an African centered perspective.

It’s not what you know that hurts you. It’s what you know, that just ain’t so.” — Leroy ‘Satchel’ Paige

Please offer your thoughts; and let’s talk about specific solutions.

Thank you.

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