Wealth secrets that will turn you into a millionaire - Dr Boyce Watkins

this evening on the rock Newman show he's provocative inspirational and doesn't hold his tongue 20 years ago dr. Boyce Watkins taught finance at Syracuse University but he left the academic world behind to create a media brand focusing on black anomalies Boyce Watkins is the author of several best-selling books on black entrepreneurship and consistently takes on controversial issues that affect our national community dr. Boyce Watkins coming up right now on the rock Newman show [Music] [Music] [Music] welcome to the rock Newman show from the campus of historic Howard University I'm rock Newman and it is my desire to inspire you with personal stories of extraordinary achievement tonight my special guests for the hour is dr. Boyce Watkins as you probably gathered in the intro he is a very dynamic very busy man we have a lot to cover and I'm pleased to welcome you to the show my brother thank you oh thanks for coming in here today thank you for having me man it's always an honor and a pleasure you know sitting here at this media platform I wanted just trying to figure out what we might talk about first but the ability to sit here and to try to speak our truth as we know it has something to do with First Amendment rights you know you can can say you can weave that in to some degree and it really made me think about what I wanted to talk to you about first just recently Lamont Hill was fired from CNN as we speak there's talk about the possibility that his tenured position at Temple University might be in jeopardy I know that you have some history with Lamont Hill years ago I saw him quote talk about how you out actually helped get him into this universe this sort of media media universe so what I'd like to get some your reflections on Lamont Hill because you knew him years ago and and and what it is that he did how you feel about what seeing in did to him as a result of the comments that he made okay yeah I think Mark Lamont Hill is one of the most intelligent and hardest-working people I've ever met you know our first conversation was I think oh six or seven and I remember he called and he said I see you you know your professor you're on TV I want to be on TV too and I just said well I I remember specifically saying I can't do these things for you you know it's kind of a myth that somebody magically comes along and just put you out there I said but I can tell you what I did and it's up to you to execute and he executed unlike anybody else I to this day only thing I've seen anybody that really took you know when I gave him the game he ran with the game and I mean it did things that you know that most people can't do um now when the show was over would I might ask you for oh please I got to get the game from you first and and I'll tell you man you know so later on you know with Mark I I saw his rise in you know and we don't see eye to eye politically we don't agree on a lot of stuff sometimes we'll even go back and forth a little bit on Twitter but for me oh my in the respects always there in the sense that uh that he sharp play what I see now kind of is a reflection of a conversation I had with him on my porch back in about 2009 all right at that time you know I was on a lot of the different show CNN Fox and all that you know stuff rolling Martin was doing a lot of the stuff and Mark was doing lots of so we were all see the three of us would see each other a lot of these shows and I remember rollin was getting a deal with CNN at the time getting cozy with them because the Obama presidency was kind of erupting true and Mark wasn't getting in with Fox and I remember I said to him I said you know I really don't think that this is what I want I don't want it I don't think I want to deal with either one of these networks because I believe black people have to own our own stuff we have to have our own channels of distribution for our ideas and I and and and in a way and maybe it was self-defeating but I know what kind of black man I am and so in a way sometimes I would fire myself in advance I'd be like you know what I'm gonna go ahead and fire me now because I know that it eventually when when I come out the closet and you find out that I'm really black yeah you ain't gonna leave on me around if I was you I wouldn't want me around either you didn't when you say you you talk about the CNN about the cnn's and the flying CBC's and the MSNBC yes because there's no place there's no place any major uh you know why don't media outlet no disrespect to anybody else but there's no place in any major predominately white owned media outlet for a black man who's really trying to solve the black problem in my opinion you know everything has to be sort of fared with a big grain of salt and and watered down and sugar-coated and I'm not good at that I don't I can't I got to serve it to you wrong you know and it doesn't it's maybe there's a more eloquent way to do it but I don't know that method so years later um you know and it's funny that same year I got banned from seeing them for a year actually because I got into this back-and-forth with Bill O'Reilly and it got out of hand and eventually somebody seen in just pulled the plug in for a whole year they just didn't have me on and you say got ban was that something ever official somebody told you putting right or anything was just you never got invited it was like dating a girl that just stops calling you when she was calling you every day before that right and you know it you know when that happens or your brother no heater got bad just not into you that much you know exactly this one into you but but just like that bad relationship when you lose one opportunity it opens your mind up to find others and so that was actually when I began the process of developing my own space my own platform so at the same time I saw Rowland really getting in good with CNN mark was doing really well with Fox and then kind of like as I expected the bombs dropped later on you know you saw rolling got into his thing with the with actually it was with the white liberal establishment that actually pushed rolling out of CNN it was over there LGBT stuff right right and then with Mark the first time he kind of hit a thunderstorm was with Fox where they kind of outed him as a supporter of Assata Shakur right so it made the rounds went viral and next thing you know Rupert Murdoch announced as Mark Lamont Hill is no longer with Fox News you know and then later on you have this thing was seeing in you know with him in his speech at the UN kind of bumping it coming just recently yeah yeah right right where he bumps heads with you know one of the most powerful lobbies in the world you know you you can't really say anything that is gonna be remotely critical of Israel when you're in the American media system because we know we know who has that power right on it's and it's not even anti-semitic to say that's just you it's there right I was gonna ask you you know to some extent that might be considered cold say ultimately you know who controls it and what what you're really saying is what I'm saying that that the Jewish community is very intelligent when it comes to establishing the power base in banking business media uh and I bring it up all the time when I'm teaching my students in the black business school we had I have them read a book called out how the Jews invented Hollywood there was written by a Jewish man and I don't I tell them to read it not for any sort of anti-semitic reason sure I'm saying look this is the blueprint this is the power blueprint you know and and this is what I want it's part of what I want to see for black people for the next 100 200 years you know we need a 100 150 200 year plan for the black community and I don't really see a lot of us really focusing on it because we're so focused on what's going on right now mm-hmm short term short term right it ain't about the short term you know it's like if I want to if I want to build a strong football program I got to be thinking years ahead you know I gotta be thinking strategically I got a plan well in advance the president is typically controlled by people who plan for the present in the past like you look at things like gentrification you know in 2018 2018 the power in 2018 belongs to people who were thinking about 2018 when it was 1988 yeah you know what I mean so I'm saying look my goal is not to control 2018 I want to control 2048 let's start playing for that now and I believe that could be the Power Move for black people that helps us to really overcome a lot of these things that stress us out and so ultimately mark Lamont Hill made a comment that was supportive of Palestinian state we it appears as if sort of the death knell was him saying Palestine from the river to the sea which is a reflection which is a statement of an elimination of Israel right and so that that powerful Jewish interest as you said smart intelligent Jewish interests have the kind of strength in media and other places that CNN felt it necessary to eliminate his position with them yeah I think CNN was wrong I think that I think that they're using that last statement and marks very long eloquent speech yeah as an excuse to ignore what's really happening which is the oppression of the Palestinian people um from what I know about Mark and his heart and we again we we only agree 30% of the time mark fight like cats and dogs but but what I know about is hard I've never heard mark say anything that even reflects some idea that he might relate to those who want to destroy Israel that's it's not true um so what I think is really happening is you kind of get this this mass distraction where it's like okay I'm gonna focus on this one little thing over here yeah so you ignore the big elephant in the room yeah which is the way the Palestinian people are being treated so there's not wrong with what he said but then again the fundamental reality that we must understand is that you know black people don't have freedom of speech when we're a media outlets that are owned by other people yeah we just don't freedom of speech is something that you must be able to earn and fight for and afford you know and and so if you if you're an employee of CNN yeah and you're not speaking in a way that it's consistent with CNN's agenda yeah then you need to get out and you need to either go with the agenda or step out and have your own space and you don't have it in the speech if you have taken your team to the Super Bowl and play for the San Francisco 49ers and you look at the injustice of black people being killed and other maladies in the community and you take the knee to protest police brutality you also have free speech there well most people don't have freedom of speech on their job you know you know it you got freedom if you walk out the door and and give away your you know your paycheck then you can say whatever you want they don't care if you take a knee outside the stadium but you working for us you are employee you really thought you know you thought this was something other than what I did it really is it's an employer-employee relationship and I think that black people have to kind of understand that because you see the problem is that this integration civil rights kumbaya inclusion conversation that we've been having for 40 years unfortunately it led us to falsely believe that we're equal partners in this relationship you know it's like a marriage you know where one partner really thinks they were equals when really the other partners controlling the whole show you know so it's more like an abusive marriage so for black people um I think integration and all that's fine but integration is like any other partnership you have to properly negotiate your terms and we didn't ago she ate our terms you know we burned down everything that we had you could go jump ship and go be a part of what somebody else had and that left us powerless and defenseless mm-hmm and lots of businesses and communities destroyed that were surviving yes there's been enough looting and burning of thriving black communities into one of the one of the one of the byproducts of integration was we really looted and burned our own communities because we left them behind seeking acceptance elsewhere to the denial of our own economic base mm-hmm we you know I'll tell you I sometimes rock I say something that probably sounds crazy on the surface ridiculous it would people would think I was the biggest most pathetic black man on on earth and I and I saw I said to my friend I said thank God for racism and he said what do you mean by that you know that sounds crazy and I said well I thought about my life and all the times where I was called to battle and forced to rise to the occasion and build my own because I couldn't get what I was looking for you know in a mainstream society and I said if white folks have been nicer to me and gave me whatever I wanted I never would have become that man you wouldn't have self-actualized nearly I never would have self-actualize man you know and so I think about them and I think my integration you know obviously you know during segregation you know we had some rights that were rich they were taken away from us so we weren't allowed to have but it forced us to be together work together to build together and and and and that actually in the at the end of the day makes you stronger if you approach it with the right perspective so I I think that there's room now for a reexamination of everything this sort of has happened over the last forty years not because we're not respectful of what people accomplished at their time not because they didn't make tremendous sacrifices and not because they weren't some gains but if you look at the measures of quality of life in the black community there is very little evidence I've seen their black quality of life and 2018 is any better than it was 50 years ago if you look at education our kids are not better off educated even a Malcolm Gladwell actually said this he said integration did not help black kids in the education system because they don't have black teachers anymore if you look at economics the wealth gap is not only not shrinking it is growing yeah it is growing student loans things like that are actually causing it to grow half of all black college graduates have defaulted on their student loan debt which means bad credit which means that many of them are going to die in debt if you die in debt then you're not closing the wealth gap yeah right so we think that a gap is going to close just because time passes but it doesn't close if you're standing still or running backward and we we probably could both get depressed here if we started to talk about the amount of land that we had fifty and seventy years ago and how that land is gone now hmm that's a that's a huge of our land base having diminished dramatically yeah yeah we are what what it is is that in our culture you know our economic culture which we're still working to shake that right it's because some of this is still some of the slave culture or this other I don't know I don't know exactly what to call it but um there's very little conversation that we have with children coming up about the importance of ownership yeah ownership yeah you know so in the black business school we teach children and we tell that's the first people we want to teach we have a business when you sit in the black business school you're talking about this is your this is your baby yeah yeah the black business school it's online and we have sixty eight thousand students yeah and and one of the things we did was we created a business school for children yeah and what we tell the kids is we say we give them an acronym we tell them to keep their poise Pio is e poi stands for producer owner investors saver entrepreneur and we tell them this is what you want to be because the economic system can be compared to a horse and jockey scenario you know you think about a horse race a horse does all the work the jockey gets all the credit right the horse does all the run in the jacket gets all the money and in in capitalism unfortunately in America it's a horse and jockey you know you think about if someone goes to rent an apartment the renter is paying the mortgage for the landlord the so the landlord gets wealth the renter just gets run down right all you think about an employer-employee scenario the employee is is is is putting in the labor and getting some compensation that they use to maybe go pay rent right and the employer is the one who owns the business builds wealth leave something for their children right and the list was kind of on and on and on we talk about you know the investor versus the borrower it's a documentary but not so not so articulately named but maybe appropriately named the pimp and whole mentality yeah it's a pimping whole system absolutely absolutely and in the holes usually don't have much negotiating power and I think that I think it's appropriate I think pimp and Ho is really good to describe the n-c-double-a you know here's literally literally every single tactic of using oh boy don't roll the process yes you know that's exactly the NCW I mean talk about the threats of severe punishment for deviations or you know all these things so I think um by just being aware of all of this and how all this works is a great first step but let me stay with that for a sec because the school whoever it might be Arizona State receives from its apparel company millions and millions and millions of dollars and it says to the student athlete you gotta wear so therefore you have to wear X brand and if you don't wear X brand there is punishment so the student athlete feels as if I have no choice except proportionately the student-athlete is getting a miniscule value they say he's getting an education most of them don't most of them don't grant so many so many don't graduate so at the end of the day there's very little that the student-athlete is getting of the millions of dollars that the pimp is receiving absolutely you know I'm gonna tell you I give a lot of credit to LeBron James cuz I think he's doing a documentary on HBO about that kind of bank and I and I think that that's a reflection of the fact that that he skipped that whole system because of that you know if you recall when LeBron was in high school he got a lot of grief cuz I thought he was driving a new car his momma got a gift or something and they were making millions of dollars off of him in high school you know and so you know what people have to understand what black people have to understand is the n-c-double-a that is a racial issue it is a racial issue because the n-c-double-a extracts about a at least a billion dollars a year out of the black community because we remember our you know we are not people without assets you know we have the best athletes in the world we started and created hip-hop if then everybody's making money off of it you know but us the list goes on and on and and and and with the so with the n-c-double-a what you're really seeing is this mass wealth extraction that is when the accomplice is the federal government that'll sort of overlooks the extreme violation of labor rights of these athletes and the reason they overlooked it is because in their mind they're thinking well this Negro should be happy with what he's getting without us he would still be in the hood and we know that the scholarship obviously doesn't give the equivalent value to what they're given the University because if it did then you would get you would just pay the athletes what they're worth and then let them pay their own tuition right it doesn't cost much to bring one more student in a class if I'm already teaching 30 people who cares if I'm teaching 33 right and so of that whole idea that they're getting that this is even a remotely fair trade is kind of ridiculous and and what has to happen is I believe these these older athletes you know the people that get a little bit of money they need to get behind some good lawyers they can file some really good antitrust lawsuits and fight for those labor rights you know having this conversation with you you know I want to get your answers but man I want to take I'll take the liberty here to say any parent of a premier athlete that is out there that is concerned what our what the black community could do the impact that could it could act could have across this land if there was a cohesiveness of thought that said until so many things get better pick you pick your choice of what you want to get better but we're not sending our black athletes to these predominantly white schools we're sending them to black schools how much that could change this society I don't think we can measure mmm well you know I agree with you I agree a hundred percent I mean the University of Missouri I think the football players did a protest there yeah overall oh yeah racist yeah they got the president fired in about two or three days that's right you know and that's the power that's the power that we that we just won't cease and use it and people don't want us to know our power yeah that's what that's why they're their greatest asset is an uneducated black man you know they they love when we are more focused on the booty the bling and whatever it is than we are on actual struck power structures and how it's worse so that's why you know a lot of the the my students and stuff like that they follow me on the online everything I tell them when your kids grow up have them read books like parinama Creed under Claudia Claudia this is that and that see the time or two hey oh that's that's the GU I mean dr. Claudia nurses one of the greatest human beings they have a walks face of this planet one of the greatest gifts from God that we will ever receive and along with yourself Louis Farrakhan and a few others that they just really kind of understand this this game how it's played and what I what I want people to do is hold out hope and understand that it takes time you know just because you don't see the change you're looking for in this lifetime you plant those seeds it's it's it's again it's a one hundred two hundred year game we're playing not something that's going to change in two or three years you know you talk 100 100 years 200 years I follow some of your stuff on social media and so some of your videos from China I've heard you say that you're merely two week visit to China helped shape your perspective or grow or advance your perspective as you look out of the world one if I can be so bold to ask what took you there why did you go there and what was it about your time in China that has further opened your eyes I've always been fascinated with China as a cultural and economic entity if you understand economics you can see how it links to culture if you have bad culture you won't have good economic outcomes and and so I've been really fascinated by how they do things China you know they were in a very bad but they were kind of where a lot of where black folks are you know 50 years ago China was not respected as an economic entity you know and I said how did they do this you know so so that's part of what drove that's the big reason that I felt like I had to go back I taught a class there in 2006 I was on a place in China - yeah oh yeah and and I was fascinated by the difference in terms of just how they deal with professors how their students are how the kids are raised the unity and cohesion was really fascinating and the other thing that brought me there was just it was black love you know I got this beautiful black woman next to me that I just she'd go to Siberia I'm a father okay yes and so uh so we went to China we went to about four different cities or Shanghai Beijing greenling and somewhere else Chien and and so we were walking through these cities and we were listening on the same iPhone - these are the podcasts on Chinese history and I'm so I'm looking around and seeing it and I'm also hearing how we got to where we are now and I'm also sort of paying attention to the economic strategies and and talking to the entrepreneurs you see here's the crazy thing I probably bumped into hon - to 300 Chinese entrepreneurs because they got the little booth set up everywhere yeah and I bet you're not one of them went to business school no not one maybe a couple right and but but there but they there was a standardization in terms of how they dealt with the customer how they negotiated the price how they set up their supply chains I'd see the same products in Beijing that I saw I would see in green Ling you know and I and I would think so there's something happened there's something here something so I'm the cultural right so for black folks I said let me go out here and just kind of study this meditate on it analyze it read up on it and put together a model that I think you can apply to your own family because the thing for black folks in my opinion is that first of all we need to stop waiting for Superman when it comes to healing and building our community one great black man and one great black woman is not gonna carry us out that we'd like our heroes you know you get excited but that's not what's gonna do it the other thing is that I think it's it's probably a little naive for us to believe that we can get 40 million people on the same page yeah particularly when you have so many distractions from media and the brainwashing that's happening in the school systems and all this other stuff so what I've been telling people is look at your household start with what you control your sphere of influence and I told them I said look China is not a democracy it's a dictatorship I said when I grew up in my house our house was a dictatorship - uh-huh mama daddy and we follow suit yeah right and and and in that household in that dictatorship and that government called your home you get to design the policy yeah yeah you get to shape the car daddy used to say it was a but Neverland dictatorship I didn't see that at all and I like that because tough love made me a tough man yeah you know and so um you know in that space you know I I've pretty much laid out to the families where I said look here about seven or eight things you can do in your household that will shape and empowered culture one that is built on educational excellence we must embrace that we brave we embrace excellence in entertainment in sports we must also embrace excellence when it comes to education reading writing math black history all that stuff next excellence when it comes to how we see business how we learn how to make money the first words out of your mouth when you talk to your child about how to make money should not be filled out this job application not to the help that sure that's on the that's on the list but that's about number 88 on the list after we go through all the other ways that you can make money started with the three pillars of wealth real estate invest in stock and bond investing and entrepreneurship teach them to be a boss first and then let them decide if they want to be something other than the boss right because I'm tell you especially it's especially four black men black men are emasculated by this system we are broken down and made into little boys and a community cannot be led by a pack of little boys yeah we need our men and our men are being castrated through the door because they're taught that the only way to survive is to sit down sit still and be quiet and if you rate you raise up there they gonna knock you back down so the ability to make your own money I believe for children should be one of the most important skills and the child learns because once they do that you find that a person who makes their own money has a different level of swag a different level confidence yeah you know all those and while you're in China I mean did you see vestiges of that did you see did you see examples of that I saw examples of entrepreneurs who I don't think they were all making a lot of money yeah but I saw I saw people that they knew the government won't go never take care of him huh huh and they they could scream black lives matter they knew nobody wasn't gonna listen um and they just kind of got the job doing that's what I saw I saw hustlers that's yeah that's what you say hustle hustle yeah yeah yeah that's what spirit of Independence when I saw that yeah I saw I just saw a hustle mentality and I saw cohesion where you just have a lot of uniformity in terms of how people feel and how they think so and also I saw China first the reason that the rest of the world couldn't form productive trade relationships with China is because they all came in thinking we're gonna milk China the way we milked Africa and we milk the black community we're gonna form these we're gonna integrate them right into the world economy and we're gonna milk them like a cow yeah and they didn't understand that the Chinese had a different kind of mindset yeah their mindset was very much China first we take care of ours first we're bringing our smartest in our best and brightest back home we're gonna build up for China so what they found was that instead of them forming these relationships where they were extracting wealth out of China China was extracting wealth out of them so as a result you know a lot of the factory jobs that would normally be in Detroit and Toledo are over in Shanghai and Beijing right so only so there's something to learn from that in terms of just um a mindset that says you know for black folks to translate into black folks there's not wrong with loving your people first there's not wrong with saying I'm black I'm proud I'm black all the time 100% can't deal with that there's your issue and then you can still integrate with the rest don't mean you're anti something else you ain't got to be anti nothing right I'm old thing I'm only anti-hate I don't believe in hating anybody on the color of their skin and none of that I don't do that I'm too busy loving my own people you know it but the reason that black love is interpreted as hatred for white people is because there are so many people that are heavily invested in the oppression of black people for their own personal gain so when you come up yeah they feel like you're pulling them down threat right it's a threat right so inevitably it's going to be a threat but that's okay you know we can handle threats yeah you can't really it's like sports you know the other team is always going to find a way to beat you if you start suddenly competing for points and act like you trying to win why wouldn't they try to stop you from winning because they want their trophy to and it's all right mm-hmm so it's sometimes I like to talk about because I had another friend who he took an Asian trip he first was in Tokyo he went to Vietnam he went to Hong Kong and he talked about again this was through Facebook you see this they spoke some of what Facebook does is opens up the world tea and the modern eyes they he was fascinated by the modernization throughout Asia and I would I would venture to say that the American psychology and mentality is one that thinks you know just repeated you know greatest of everything in the world not having a clue about some of the transportation systems and the rest can you speak when I was in China they have bullet trains and we're here all we got is Amtrak yeah well I saw I saw Holograms I saw all different kinds of technology there that I don't think he's gonna get here for years right um you know yeah I think this idea that a mirror it's just the greatest and the best at everything and we're just so far hit everyone else that's just propaganda and that that's just a lot when you leave the country you start seeing things that you do not see in America so that modernization piece that you're talking about I noticed that and and it made me kind of think wow you know there was a time when we really were leading the world and I just think that through dysfunctional leadership poor educational systems etc we're slowly falling behind we are a nation on the decline there ya know I'll tell you something there's something I hear about that I don't fully understand the the the ramifications of it and I wanna see if you as more of a sort of the economists can weigh in on it you continually hear about China holding so much of America's debt that that America is incredibly in debt to China you you studied that I looked at that at all yeah America is in debt to everybody um a couple thoughts come to mind number one one of the reasons that's China the China was able to advance economically is because they have a very high savings rate America is very very bad at saving we don't save money we spend spend spend and we borrow and going to debt individually and collectively that's one thing second thing is that social consumer society right right so as far as policy in the black in the black community I encourage people to start saving more and investing more don't do what everybody else is doing cuz it's it's a mess yeah um look the second thing that comes to mind is that America it has hit a level of debt that is just unsustainable that debt is going to you know if anything causes the you know the economic system in America to crumble is gonna be the amount of debt we have because we don't have the political strength or wherewithal or focus to really attack an issue like that because that requires long-term thinking short-term sacrifice that's not part of our culture you know in the government on down yeah right so I think the debt problem is only gonna get worse eventually Social Security is gonna die people have to start it sort of you know think outside the box when it comes to your retirement plan because the systems that we had in place will not be there 2030 years you really think that absolutely nope no question about hey we're afraid we're just too proud to admit that we can't afford to do certain things so we're a lot like that family that you know they're just used to the private school and the fancy cars and you know and pay for everybody at the dinner at the expensive steak house but what they're not telling anybody is that they're really maxing out their credit card to maintain this illusion and eventually that illusions gonna just fall apart and so you think you think I mean those looking in here now for example you obviously there's not a crystal ball but you think that it's not unreasonable to think that somewhere 25 30 years from now the Social Security will not be solving any longer yeah yeah I think it's gonna be dramatic changes I mean it wouldn't be there in some way shape or form yeah but you know America unfortunately it's kind of a country that's built on very very bad versions of capitalism capitalism itself is it's debatable in terms of what is good or bad but people understand it know that it comes in a variety of forms and we're sort of on that bad extreme because we believe that greed is good and greed is okay I started really mostly with Ronald Reagan and so what happens is you got these people at that top one two percent that are gonna just you know just suck up all the resources and and eventually you see America kind of decayed into like that third world country status where you got these massive wealth gaps and so that's what I predict in the future I can't stop that or slow that down yeah I don't I I know I don't know what it would take to do that politically I don't even know if we have what it takes in this country to do that but what I've been telling black folks is just kind of get ready because there will be that Great Divide and you want to make sure you're on the right side of that development you know you just mentioned whether or not you had the answer politically about something which brings me to my next subject I want to talk to you about um the midterms were just over a month ago midterms 2018 midterm elections just over a month ago and I looked at some of your stuff where you went in hard on you didn't think you certainly did not hold on to any sacred cows if you will and what I mean by that is whether it was Obama or Oprah that where that might have been campaigning for Stacey Abrams in Georgia or Gilliam in in Florida or elsewhere I saw you take a cute exception to part of their strategy to motivate people to vote was to call and to tell them that your ancestors died for your right to vote so therefore you should go out and vote now for the person I'm telling you to vote for can you kind of take us through what you were thinking then and and and and why you went kind of hard well you know because it's disrespectful and I think up I would say I probably my personal bias probably is that I don't like it when I feel like people are playing my mind games with me you know it's it's it's uh it's it's just disrespectful to do that and and and so if you want me to vote for you that's cool like we can talk about that okay I'm gonna tell you what my issues are you tell me how you're gonna help with those issues and then we have sort of a respectful transaction but when you try to guilt trip me into voting and you refuse to answer the questions that I have for you as a candidate that's a problem or if you try to use a beer as a way to get me to vote for you that's a problem or when when I look at you know that Democratic Party and I and I noticed they they tend to seem to sort of ignore black issues on every other part of the spectrum except for when you get to voting rights and I'm I'm not a stupid man I said well way of course you want me to have voting right so I can vote for you you know like it like you know like I may be a husband was his wife they have a good vacuum cleaner so she can clean the living room or or well you know I have the best pots and pans in the kitchen you know like that but that's not really for her you know it's for him and he needs to acknowledge that so I think that the the exception I take with this whole idea of invoking the ancestors into the conversation is number one those are my ancestors don't don't don't don't bring my ancestors into this conversation about my mom is I don't talk about my mama and in number two if you really respected my ancestors then you would have an honest conversation about reparations for what my ancestors went now you did that because they could change they could shut me up quickly by just coming up with a plan on reparations right they start talking my reparations on a regular basis as much as they talk about voting rights yeah I wouldn't say a word they say yeah go for them now they talk in some sense so so when you talk about the black community and in this two-party political system the generally speaking the Republicans disregard you okay the Democrats so often appeal to your some of your interests but really take you for granted we really we we really got them and that's that is reflected in the meager resources that campaigns put in to actually hiring African Americans that they're trying to courts on the one hand you got a disregard on the other hand you really got a serious taking your seriously being taken for granted so what's Boyce Watkins advice well you know my advice is is something that I guess becomes a threat to some people in the system my advice to black people is do what you want you know just play the same game they playing they're doing what's best for themselves in their family you to what's best for you and your family don't even do what I tell you I'm not gonna tell you who to vote for whether you should vote or not vote I just say make your own mind and don't let nobody make you feel bad about that mm-hm and that right that's little that was literally my consistent talking point but yet people of course that would that doesn't represent their interests they're gonna run around saying oh he's telling people not to vote doesn't act if you show me any video article I've ever written when I told black people not to vote right I might tell you that I'm not voting yeah but I'm not gonna tell you what to do you know and so I I think and I think that's okay you know I and I saw a lot of folks I thought a lot of folks throwing darts at you for what you for what you did say about what you felt Obama and others were doing with the guilt trip yeah you know I mean if people ain't throwing darts at you then you're not saying anything new or interesting if you really challenged pre-existing ways of thinking the first reaction people are gonna have is anger because you're disrupting their skin Matt oh yeah that's what they call in your brain where you are used to seeing things this way and when somebody comes along and says no it's not like that at all first you actually know what are you talking about right shock disbelief um and another piece of evidence you know that tells in fact the more darts that are thrown kind of tells me that then I really hit something and I can I've struck a chord with you yeah you know cuz if I was talking crazy it was just a stupid man just talking about side of me you wouldn't react to that right you're reacting because I'm really forcing you to confront a problem that you can't solve right now and so you know I'm okay with people throwing darts it comes with the territory my goal is I believe we should seek truth as black people and that means having hard conversations because if you keep doing things the way you've been doing it for the last 4050 years you're gonna get the same results you know seriously we've been electing these people for I don't know how long putting them in office open over again putting black politicians in office we don't have a thousand Stacey Abrams and Gilliam's I mean no we haven't had many governors but we don't have the mayors and all well show me where black people as a collective are doing better because of that right so we know that that is not proven to work so that means that by default you must find solutions that are outside of their box if you can't go outside the box then you're just gonna live this the same 50 year period over and over again you have you got you have some detrack obviously detractors out there and you said you know if you folks aren't throwing darts at you you know you're really not doing what you need to do it has surfaced recently a couple of different folks have come up with lawsuits and you've got people social media journalists who are talking about those people with lawsuits that are accusing you of behavior that is less than professional less than honorable that you didn't pay somebody a hundred dollars for forces worse for something I ain't quite understanding the lawsuit but it got some traction it got some reaction got some folks talking so I wanted to give you an opportunity to address some of that yeah I I'm gonna tell you what Louis Farrakhan and I owe him a lot for teaching me how to deal with with with what it means to draw so much attention from so many different types of black folks I've always admired this man for the fact that he's so he's so patient incapable of loving black people even when you know when the love isn't necessarily returned um he also taught me a lot about you know your critics you actually instead of even trying to shut them down you should encourage them to speak sometimes your critics might be right sometimes they just have a different point of view etc and and at the very least at the end of the day you know you've got to move forward let your light shine let your to shine no matter what because you got people that love you and that's what you're here for you're not here for the people who don't like you I had to go through that whole process and and and another thing that really helped me a lot was a guy that actually we're saying you said go through the go through the go through the whole process I'm thinking you're saying when you say that you had to digest what was going on the slings and arrows go in and some of that hurt along the way it's very hurtful it's very hurtful because I think about maybe the top three or four critics I have on the Internet these are all people that I've helped a lot you know these are all peonies are not strangers there's one thing if a stranger or a white man or or somebody who hates you says something negative it's another thing when somebody that you almost treated like a family member is coming back to get you it makes you question and say what did I do to hurt this person because usually when people are lashing out it's because they feel hurt so they say I'm gonna hurt you back and repeat hurt people hurt people and black people in the black community we traumatize each other and so the first thing I really did actually when when when one of the critics really attacked me actually a couple of times is a one of them I actually sent the text that's the name and I sent her a text and I said Yvette if I hurt you in some way I am so sorry I I don't I don't want to fight you I know I'm gonna fight white supremacy I want to build the community I don't want to fight you that's not gonna help you it doesn't help me like I don't want to do that and and and I don't know she didn't text back or call back but I think she might have got the message but either way it was me kind of just saying I don't want to do all that you know I don't want to get into these these chicken fights that we get into his black people and and so the fights happened and and and and as far as you know stuff with like the lawsuit and stuff like that that was one of those situations where you know I had to figure out like what was going on you know I didn't the suit didn't make sense to me and I think all that gets played out in court and everything you got to gotta get the lawyers and stuff but I learned Will Smith actually showed me something on there I don't know we'll personally I just actually something he was talking about publicly but he was basically saying he said you know as a celebrity I guess to 15 times a year Union and he said I have to keep all these lawyers around just to defend myself for these lawsuits and he said one of the things I had to learn was I had to learn how to fight off predators without letting my heart go dark and that meant a lot to me because because you get to the point where you like you know should I even have fringe and might you know cuz I don't want people yeah you know again when you when you're seeing it's it would make more sense to me if these were people that I had done nothing for but when you think like wait a minute I did paint that person's written I hope that person with nobody else would you know and and what it does is I guess is maybe maybe there's an expectation that you'll do more or maybe there's a hurt and a bitterness that occurs when you say I'm sorry I just can't mess with you no more I can't you know do this and and so I think that a lot of this game just comes down to being able to accept when people are just gonna think what they think about you and then just continue to be who you are and do what you do because I you know I say to people if you really want to Who I am I got about 10,000 videos literally like the seven to ten thousand videos right there on YouTube go watch the videos look me in the eye analyze every word and and you'll get a bet you'll get a real picture clear picture of who I am it's not like I am pretend to be this person in public and then that in the backstage I'm shield night you know throw my balconies and all that that's not that's not that you so you know it comes with the territory I'm okay with dealing with that I was so you often speak in your videos and you have platforms where your interest I think we I think on our opening we said I think we said black anomic s-- know that you focused on black anomic s-- you at Syracuse and came out and you you've been really been talking about that so what I would like to give you an opportunity to do to share with us what is it that you as Boyce Watkins the educator the professor the professional with the school that you talk about tell us about the school and what you are trying to accomplish with the school well much of everything I do is based on what we call the black core of three the black core of three basically says we believe black people should educate our own children create our own jobs and support black business so all of that from every everything else I do spins out of that and so the black business school was something I created after teaching 25 years of teaching finance to you know mostly white college kids for 25 years Syracuse University Ohio State etc and and what I realized as I said I'm teaching all these amazing secrets to a bunch of people that aren't even in my community that all going off to Wall Street making all this money I really didn't feel fulfilled I I was told that I was a successful black man but I didn't feel successful I said I feel like I'm just spinning my wheels like what I'm doing isn't really making a difference so I realized that with the black business school we could solve a couple of problems one you saw the student loan debt issue because you know you could we I believe people can learn for three or four dollars a day and you can run an effective business model off of that as opposed to paying you know fifty thousand dollars a year and you can still get access to quality professors and the same was I have a lot of friends they used to teach at universities who want to get back to the black unity and and I said I can reach these people so come on in you can make some money and we can you know we can kind of help people at the same time and and then the the other thing was I felt that black people need to learn different things most business schools in America do not teach you anything about what black people need to know they teach you how to go and work for a business they do not teach you how to build a business from the ground up and and my belief is that the solution to institutionalized racism is to get out of the racist institutions and build institutions of your own right so you know it's like if this building was infected with light supremacy why do I think I can overcome white supremacy that exists in this building by staying inside this building I I need to go across street and build my own house so we start up we focus primarily on the three pillars of wealth stock investing real estate investing and entrepreneurship and we argue that those should be the first three areas that every child should understand at an early age and the powerplay for black people give we don't buy into this idea of okay we want inclusion we want equality not we're trying to be equal we're trying to be included we ain't trying to integrate we're trying to win we this is the Power Move for us so basically the Power Move is I said what if we took high-level financial concepts and broke them down so that they could be understood by seven-year-old using cartoons and things like that and what if we sent children our children to business school in the second grade you know and they'd be 15 years ahead of other kids yeah and so uh so that's what we did so we you know our models we educate the whole family we educate the children and and it's it's working like a charm you know we have about seventy thousand students it's great so so we've got like two minutes left I can't believe this is going by so how do people get in touch with you with the programs and you know what does it cost and you kind of tell us the reason I just version of here's opportunity with the 90s so seconds we have left well most of our programs are about three or four dollars a day and a good way to stay in our network is if you go to dr. Boyce Watkins dotnet Dr Boyce Watkins dotnet you can just get on the list and then that that way we'll send you some information we we give more away for free than most people get by spending fifty thousand a year at a university we got thousands of people that will attest to this fact it's not me just saying and they and these are as you said former professors know your relationships that you develop that a parent can put a student into a class and that class is being taught by somebody that's highly professional and proficient and proficient in what they're doing absolutely absolutely we have lots of children in our children's programs it's called black millionaires of tomorrow and we teach them stock and bond investing real estate investing all kinds of stuff entrepreneurship and basically it's all for a reason though at the end of the day our reasoning our logic we don't want you to just be there because you want to make some more money whatever we want you understand what we're trying to do here we're trying to build the future and building the future means building up an army not just a few elite Negros I'm talking about a hundred thousand three hundred thousand four hundred thousand children that are armed with a keen understanding of how wealth is built and how institutions are built these are going to be the job creators for 40 50 years from now so that that's what this is all about and that's how we do things and and and it's working very well and we're only gonna get better with wasn't had a friend and again we're down right now I got the 90 second signal but who told me that bringing up that I must have bumped my head to bring up the idea and this is a bad guy to bring up the idea of reparations ain't no reparations don't happen and you brought up reparations earlier but all I have is a minute left where you explain why reparations should be should come to the black community well because we wrote about thirteen trillion dollars from his government if you look at all the wealth that was stolen from us and all the horror and pain that we went through all the terrorism and all that and I think that reparations some sort of reparations plan is a way for America to truly heal you have to do that and even if they never pay it we should always keep talking about it as a reminder that no I'm not gonna support you and do what you want me to do unless you take care of us and now that's my official position on it's coming here today thank you brother thank you for happy shake that's our show for this evening folks for more information on this program or any other program produced by WH you t go to w hu t org goodbye and God bless [Music] [Music] [Music] this program was produced by WH you see Howard University television and made possible by contributions from viewers like you thank you [Music]

Channel: Financial Juneteenth

Views: 23,454

Rating: 4.8679504 out of 5

Keywords: black wealth, black economics, black wall street, black financial experts, dr boyce watkins, dr boyce is a fraud, dr boyce watkins exposed, african american wealth, black scholars, black economics documentary, african american scholars, african american news, black wealth empowerment, black wealth bootcamp, black wealth affirmations, black wealth breakfast club

Id: yvhKIwkiCjQ

Length: 55min 28sec (3328 seconds)

Published: Mon Jun 03 2019