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Kehinde Andrews: The west’s wealth is based on slavery. Reparations should be paid

Summary:
I have often argued here in the comment sections that the ruling elite made their money from the slave trade and now they are able to cripple those countries where they got the slaves from all those centuries ago through the their financial system and by installing client vassal states (a country where a few ruling elite do very well out of the situation as in old Venezuela before Chavez) . They then use 'capitalism' and 'free markets' and even 'democracy'  to buy the media so they can spread their propaganda and to buy the politicians so they can take control of their country's economies. In this way they get to own the world.The West doesn't need slavery anymore because it can do it through 'markets' and 'capitalism' to drives wages down to slavery rates. As Kehinde Andrews argues,

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Kehinde Andrews: The west’s wealth is based on slavery. Reparations should be paid

I have often argued here in the comment sections that the ruling elite made their money from the slave trade and now they are able to cripple those countries where they got the slaves from all those centuries ago through the their financial system and by installing client vassal states (a country where a few ruling elite do very well out of the situation as in old Venezuela before Chavez) . They then use 'capitalism' and 'free markets' and even 'democracy'  to buy the media so they can spread their propaganda and to buy the politicians so they can take control of their country's economies. In this way they get to own the world.

The West doesn't need slavery anymore because it can do it through 'markets' and 'capitalism' to drives wages down to slavery rates. As Kehinde Andrews argues, the reason why so many people want to migrate to the West is because this exploitation drives people in the third world into terrible poverty.

The west is built on racism; and not in some abstract or merely historical way. Genocide of over 80% of the natives of the Americas in the 15th and 16th centuries paved the way for the enslavement of millions of African people and the conquest of the world by European powers. At one point Britain’s empire was so vast that it covered two-thirds of the globe, so large that the sun never set on the dominion. The scientific, political and industrial revolutions the British school system is so proud to proclaim, were only possible because of the blood, toil and bounty exploited from the “darker nations” from across the globe. Colonialism left Africa, Asia and the Caribbean underdeveloped, as the regions were used to develop the west while holding back progress in what we now call the global south.

The Guardian: The west’s wealth is based on slavery. Reparations should be paid


Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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