The Fly Or Die Commerce Report: Rule 72

“There is a law called Rule 72 (72 divided by interest equals the number of years to double investment) which most people have never been taught. It’s also unfortunate that in America you can receive an elementary, high school and college education and never be taught Rule 72. If you earn 1% on your money, it will take 72 years for $1.00 to become $2.00.

Rule 72:
1%= 72 years
4%= 18 years
5%= 14.4 years
6%= 12 years
10%= 7.2 years
12%= 6 years
18%= 4 years
24%= 3 years

At a 12% return, $10,000 becomes:
$20,000 in 6 years
$40,000 in 12 years
$80,000 in 18 years
$160,000 in 24 years
$320,000 in 30 years
$640,000 in 36 years.” -From, “Black Economics: Solutions for Economic and Community Empowerment” By: Jawanza Kunjufu

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Quote Of The Day

“I still regret that during the Montgomery bus boycott of 1955, our people didn’t understand that after 381 days of creating an alternative bus service, freedom should have also been defined in economic terms. We did not need to return back to riding their buses that were losing money because of our boycott. We should have continued on with the maintenance of our own bus system.” -Jawanza Kunjufu

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Book Excerpt Of The Week: “Black Economics: Solutions for Economic and Community Empowerment” By: Jawanza Kunjufu

Black Economics“In Africa, land was always recognized as belonging to the community. Each individual within our society had a right to use the land because otherwise he could not earn his living. One cannot have the right to life without also having the right to some means of maintaining life. The Africans right to land was simply the right to use it; he had no other right to it nor did it occur to him to try to claim one. The foreigner introduced a completely different concept- the concept of land as a marketable commodity. According to this system, a person could claim a piece of land as his own private property, whether he intended to use it or not.

This is a fundamental change in how land was viewed in the African economy; land belonged to the extended family. In the capitalist European American economy, land belonged to the individual. This was the first downfall in the African economy. The second downfall was the introduction of money. A means of currency was used in the exchange of goods and services. Exploring our own African history, we understand that services and products were distributed among the people based on a barter system. The Kunjufu family produced yams and the Ofari family produced tomatoes. We exchanged products between each other and this was done without the use of currency. The book by William Griggs, “The Megalite Connection,” describes an African society that for a number of years was not dependent on currency. With the introduction of money, people began to horde money. People began to measure the self-worth of others based upon the sum of their money.” -From, “Black Economics: Solutions for Economic and Community Empowerment” By: Jawanza Kunjufu

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Black History Fact Of The Day

“She was Queen and General of Angola. She was a military genius. Her favorite strategies were surprise attacks and infiltrating enemy ranks. The Portuguese were trying to control Angola. They were effectively using the theory of divide and conquer and were pitting Africans against Africans. Queen Nzingha took advantage of this and literally had more of her soldiers in their ranks than they had. She successfully warded off the attacks of the Portuguese for more than 40 years.

Not only was she a great military genius, she was an intense negotiator. The Governor of Portugal called for negotiations and a treaty to be established between the Portuguese and the Angolans. In the meeting room the Governor had his executive cabinet and military officers all around him and he was comfortably sitting in a chair. When the Queen entered with her men, the executive council and military officers did not stand to greet her. The Governor smirked. He designed the room so that the only chair in the room would be his. Queen Nzingha was always prepared, battle filed or negotiations. She knew that the Governor was arrogant, racist, and discourteous. Therefore, she brought her own accommodations. Her men rolled out the royal carpet for her. Her military officers took turns kneeling, palms to the ground, and were honored to have her sit on their back as she negotiated for the liberation of her people. The Governor then realized he was in for the fight of his life and that Queen Nzingha was going to represent her people with dignity.” -From, “Sankofa: Stories of Power, Hope, and Joy” By: Jawanza Kunjufu

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