U.S. economic policy lacks historical context, said Martin Luther King

Martin Luther King Jr would regularly criticize U.S. economic policy for discrimination and called for reparations. "We refuse to believe the bank of justice is bankrupt," he said.

U.S. economic policy lacks historical context, said Martin Luther King

One of the core mantras of Martin Luther King Jr was achieving justice for underrepresented groups of people through peaceful protest. MLK knew that civil rights alone could not solve the poverty that black and African people faced, so he made strong demands for reparations in his I Have a Dream speech.

“In a sense we’ve come to our nation’s capital to cash a check. When the architects of our Republic wrote the magnificent words of the Constitution and the Declaration of Independence, they were signing a promissory note to which every American was to fall heir. Instead of honoring this sacred obligation, America has given the Negro people a bad check, a check which has come back marked with insufficient funds. But we refuse to believe that the bank of justice is bankrupt.”

He spoke often about righting the wrongs of economic inequalities suffered by African-Americans since their emancipation. He predicted the black American nightmare would never be solved without fixing entrenched inequities, and it was going to cost money. He regularly called out U.S. economic policy because it was set up from the start to discriminate against black people. Negros have endured centuries of forced slavery and humiliation at an enormous opportunity cost, he explained in one speech. Black lives are not their own, their liberties are barely existent, and their happiness is shadowed by the constant stench of racism.

He talks about how the unfair practices of the federal government in context of social issues can't be solved without government spending, "We can’t get rid of slums and poverty without it costing the nation something." Reparations mean treating people differently, reparations mean paying people differently, and reparations mean drafting laws with historical context in mind.

Equity vs Equality

While equality suggests providing every person with the same resources, equity means purposely leveling the playing field by giving the right resources to the right people, so everyone can have a shot at the American Dream. Reparations would help overcome the historical legacy of systemic discrimination, marginalization, harassment, prison inequality, underinvestment, voter suppression, slavery, lynchings, prison inequality, police brutality, biases in traffic stops, biases in hiring and firing decisions, cronyism, corruption, and many other forms of oppression towards black people we have faced for over 400 years.

Equity provides support tailored to the specific needs of the person.

Equal means treat everyone the same, while equity provides support tailored to the specific needs of the person based on advantages or disadvantages they have in doing the task—physical, mental, social or economical. This is the only viable path to social justice. We have to acknowledge that it hasn’t been the same for a long time. It’s not enough to just call it even now. It has to be very un-even now, and reparations need to come right from the Federal Reserve.

Millions of underrepresented groups of people were threatened by the attack on the the U.S. Capitol in Washington, and Trump's entire presidency. A Confederate flag, one of the biggest symbols of white supremacy, was waltzed through the halls of Congress buildings last Wednesday while a noose hung in front of the U.S. Capitol. This is America, in case anyone needed a wake-up call.

We have a chance to bring MLK's vision closer into focus by adopting a new global currency and monetary system that can't be controlled by government, military, police, central banks, and other corrupt institutions that embrace a culture of centralized (white) power in America.

Bitcoin is Reparations

Bitcoin's surge is commonly referred to by billionaires investors as one of the "greatest wealth transfers in history." Bitcoin has jumped more than 300% in the past year, as governments increase in spending to blunt the economic impact of the coronavirus has is rattled the faith society has in traditional institutions, especially as they fail to protect us. America now approaches 400,000 covid deaths, with stalled vaccine rollouts nearly everywhere.

The pandemic has kicked off a series of unprecedented government spending, surging to 127% of gross domestic product (GDP) in 2020, compared to 61% over a decade ago. President-elect Biden has promised "trillions" in additional spending to battle the pandemic, which has disproportionally affected black and brown people, and the first black and female Vice President in Kamala Harris has the ear of President Biden for at least the next four years. It's time for reparations, and many of us want to get paid in bitcoin.

Bitcoin is fair and equitable. It serves its wallet key owner regardless of their race, gender, religion, ethnicity, social class, or sexual preference. Bitcoin is utilized by millions of underrepresented groups of people in our society—including black, brown gay, straight, lesbian, bisexual, transgender, queer, asexual, unbanked, homeless, people living with mental illness, and the list goes on. It is digital, transparent, immutable, finite, and it distributes power to everyone.

In the words of Dr King, "we’re coming to get our check."