The Stolen Wealth of Slavery: A Case for Reparations - David Montero
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A groundbreaking investigative narrative that trails the money and massive wealth amassed from slavery from pre-Civil War to today, proving how our modern economy was built on the backs of enslaved Black people.
In this timely, powerful, investigative history, The Stolen Wealth of Slavery , Emmy Award-nominated journalist David Montero follows the trail of the massive wealth amassed by Northern corporations throughout America’s history of enslavement. It has long been maintained by many that the North wasn’t complicit in the horrors of slavery. The truth, however, is that large Northern banks—including well-known institutions like Citibank, Bank of New York, and Bank of America—were critical to the financing of slavery; that they saw their fortunes rise dramatically from their involvement in the business of enslavement; and that white business leaders and their surrounding communities created enormous wealth from the enslavement and abuse of Black bodies.
The Stolen Wealth of Slavery grapples with facts that will be a revelation to Most white Southern enslavers were not rich—many were barely making ends meet—with Northern businesses benefitting the most from bondage-based profits. And some of the very Northerners who would be considered pro-Union during the Civil War were in fact anti-abolition, seeing the institution of slavery as being in their best financial interests, and only supporting the Union once they realized doing so would be good for business. It is a myth that the wealth generated from slavery vanished after the war. Rather, it helped finance the industrialization of the country, and became part of the bedrock of the growth of modern corporations, helping to transform America into a global economic behemoth.
In this remarkable book, Montero elegantly and meticulously details rampant Northern investment in slavery. He showcases exactly what was stolen, who stole it, and to whom it is owed, calling for corporate reparations as he details contemporary movements to hold companies accountable for past atrocities.
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This post has 18 comments with rating of 2.6/5
February 18th, 2024
LMAO, Snowflake Trigger Warning? Cos I’m white?
We all know the ONLY reason you put this book up is to Start a fire here in the comments section…
sad…
February 18th, 2024
@Sirdroid2112 And just like clockwork, you became triggered.
February 18th, 2024
only 0.48% (less than one half of 1 percent) of white people owned slaves, guess who owned the ships , were the captains, erected and traded in the coastal forts of africa, watered down the rum, owned all the auction blocks in the states that were closed on the Sabbath, guess whom. Almost all the slaves were owned by … Same people also ran slaves to arabia where ALL male slaves were castrated. They were also the barbary pirates.
February 18th, 2024
I, for one, think rich democrats and ALL actors should liquidate ALL their holdings and give it to black people. Also, indigenous people for stealing their lands, asian people for putting them in camps during WW2, and hispanics for good measure. Did I leave anyone out??
February 18th, 2024
how much did slaves cost, a strong built 16-22 year old man costs around $2300 in 1700 dollars, even with fake/hedonic inflation its worth 75x today, how many avg Joe shmos do you know who can buy 1 slave cash for $175,000 USD today let alone transaction fees, transport, house, clothe, feed let alone a whole bevy of them , children ran about $600 - $900 depending on age/sex, women $1100 to $1400 USD in 1700 dollars. Most people dont even have $2000 USD CASH in 2024 ! Only industrialists and ultra rich could afford slaves, economics of slavery arent as profitable, thats why we are all wage slaves today; discarded at 65 or earlier
February 18th, 2024
Before we start on the fact that it was the Afticans who enslaved and sold their countrymen and women… Stop blaming people that had ZERO to do with the practice and never did condone it. And stop looking for handouts for a system you never had to suffer under, unless you count being a Democrat voter.
February 18th, 2024
I don’t think it’s fair to blame the Roman Catholic Church for the whole of slavery. OK, they started race-based slavery with Nicholas V’s Dum Diversas, but there were lots of Protestant slavers later on (especially in America).
I don’t think any Roman Catholics were Barbary Pirates. I know some Presbyterians were, but not all of them, surely?
February 18th, 2024
The people who did the most business in the African slave trade were the black African slave traders enslaving other black Africans and selling them to whoever had the money. The British Empire was the one with the power to enforce abolition around the world. Every British taxpayer has paid for the cost of the abolition of slavery up until 2015.
February 18th, 2024
thank you for the book!
February 18th, 2024
Ah, yes- the REAL slave owners were Africans, and that makes it all okay. This is what we call deliberate ignorance. It’s also dissembling, dishonest, and depressing. According to the 1850 census, there were 3,204,313 slaves in the US. In aggregate, the total number of slaves owned in America was right around 10 million. But, yeah, the Africans were the REAL slavers. As a white citizen of a former slave-owning, Confederate state, these arguments are both ridiculous and offensive. Are we that afraid of admitting we were wrong? Do we have to ALWAYS resort to whataboutism and (weirdly) political alignment? Grow up and read some actual history.
February 19th, 2024
The libertarian economist Walter Block agrees. If a black person of family can trace their lineage back to a particular plantation, that Any wealth that was made by the stolen labor should be returned to the family.
February 19th, 2024
I agree. Let’s buy every black person 20 acres of African land and a boat ticket.
February 19th, 2024
The 2 million Europeans taken as slaves are owed reparations. The Brits that died shutting down the African slave trade are owed reparations.
If African Americans are owed reparations it is from the Africans that enslaved their ancestors and sold them. Maybe get the money from the Africans STILL enslaving people.
February 19th, 2024
Me agree. The slaves should pay for getting a free upgrade to a life in a better country. Especialy the Irish.
February 20th, 2024
I’ve got a way better idea.
I’ll happily pay taxes to ship all the immigrants back to their ancestral homelands. That should make everyone happy. Then they can build their home countries up to become modern super powers with law abiding societies full of peaceful citizens.
Hahahahahahahahahahahaha.
February 20th, 2024
might as well give them 6 trillion dollars, that’s how much the world gave the jews
February 21st, 2024
Looks like he fell short of the real people who are responsible for all the black slaves: The black warring tribes in sub-Saharan Africa.
Go sue them.
February 24th, 2024
ebt, welfare ARE the reparations.
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