WEBVTT - The Debtor-Slaver, A Study in American Class Psychology

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<v Speaker 1>Welcome to Dick It Happened Here podcast about things being

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<v Speaker 1>absolutely atrocious. I'm your host, Meo Ball, and today we're

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<v Speaker 1>going to do something a little different. Instead of our

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<v Speaker 1>normal sort of escapades through the torment and the sort

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<v Speaker 1>of crumbles of the modern world, We're going to take

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<v Speaker 1>a step back into history to trace through the history

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<v Speaker 1>and class psychology of a kind of guy who is

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<v Speaker 1>a recurring character in the history of North America and

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<v Speaker 1>who are responsible, to a greater extent than you think

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<v Speaker 1>for some of the worst atrocities this world has ever seen. Now,

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<v Speaker 1>I hesitate to use the word class as a way

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<v Speaker 1>to actually describe these people, because the people were going

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<v Speaker 1>to be talking about are from completely different economies, completely

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<v Speaker 1>different class structures, completely different systems of production. So we're

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<v Speaker 1>sticking with the loose term kind of guy. And this

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<v Speaker 1>kind of guy is a kind of guy that I

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<v Speaker 1>have termed the debtor slaver. Now this, at first glance,

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<v Speaker 1>this this is a confusing term. My word processor, at

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<v Speaker 1>the very least, gets very very angry with me every

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<v Speaker 1>time I try to write it and insist that no, no, no,

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<v Speaker 1>I must in fact mean debtor slave. But no, I

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<v Speaker 1>do not mean debtor slave. What I'm actually referring to

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<v Speaker 1>as a kind of guy who is both hopelessly in

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<v Speaker 1>debt and also in command of enormous economic abilitary resources,

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<v Speaker 1>most often slaves. To get a sense of what I'm

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<v Speaker 1>talking about here, we're going to start with the archetypical

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<v Speaker 1>debtor slaver, her Nan Cortes. Her name Cortes is, by

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<v Speaker 1>all reputable accounts, an enormous piece of ship. A broke

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<v Speaker 1>noble born in Spain in five Cortes managed to parlay

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<v Speaker 1>an inn initially successful career as a sort of adventurer

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<v Speaker 1>into a slave plantation in Cuba after he helped after

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<v Speaker 1>he helped conquer the island in fifteen eleven. From there,

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<v Speaker 1>through a combination of I shore you know this is

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<v Speaker 1>this is actually what the historical records say about him.

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<v Speaker 1>Wearing too many gold chains and spending too much money

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<v Speaker 1>on his wife, his finances imploded and he fell into debt.

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<v Speaker 1>This led him to embark on his infamous conquest of

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<v Speaker 1>Mexican attempt to pay office creditors. Here, I'm going to

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<v Speaker 1>turn to the work of the anthropologist David Graber. Rest

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<v Speaker 1>in Peace, Smissy Buddy. Graver describes the absolute horror of

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<v Speaker 1>entire population sold into slavery slaves with faces covered in

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<v Speaker 1>brands indicating who they've been bought and sold by, entire

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<v Speaker 1>populations worked to death, and minds empires drained of wealth

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<v Speaker 1>by men whose lust for gold and silver seemed to

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<v Speaker 1>know no end. And he somehow, both Cortes and his

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<v Speaker 1>men seemed to have come out of the other end

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<v Speaker 1>of one of the most important conquests in human history

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<v Speaker 1>completely broke. Now it's easier to explain how Cortes as

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<v Speaker 1>men came out of this broke. They came out of

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<v Speaker 1>his broke because Cortes and his officers were extorting and

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<v Speaker 1>robbing them mercilessly at literally every step of the campaign,

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<v Speaker 1>by charging them utterly exorbitant prices for everything from bandages

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<v Speaker 1>to like having to buy their own weapons, which were

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<v Speaker 1>being sold by guests who Cortez and his officers who

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<v Speaker 1>had to sort of cabal going on with everyone who

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<v Speaker 1>could sell things. And once the conquest was done, Cortes

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<v Speaker 1>as officers simply seized most of the share of the

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<v Speaker 1>loot from their menness payment for all of the stuff

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<v Speaker 1>that they needed. And I mentioned this not to inspire

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<v Speaker 1>sympathy for the conquistadors like these are These are some

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<v Speaker 1>of the worst human beings who have ever lived, and

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<v Speaker 1>managing to somehow lose money on one of the most

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<v Speaker 1>brutal sackings of a city in human history is like

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<v Speaker 1>the least of the punishment they deserve. But on the

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<v Speaker 1>other hand, their debt and the debt of Cortez himself,

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<v Speaker 1>goes a long way to explain what happened next. Here's graper.

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<v Speaker 1>These were the men who ended up in control of

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<v Speaker 1>the provinces and who established local administration, taxes and labor regimes,

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<v Speaker 1>which makes it a little easier to understand the descriptions

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<v Speaker 1>of Indians with their faces covered by names, like so

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<v Speaker 1>many counter endorsed checks, with the mind surrounded by miles

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<v Speaker 1>of rotting corpses. We are not dealing with psychology of cold,

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<v Speaker 1>calculating greed, but a more complicated mix of shame and

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<v Speaker 1>righteous indignation, and of the frantic urgency of debts that

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<v Speaker 1>would only compound and accumulate. These were almost certainly interest

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<v Speaker 1>bearing loans in the outrage at the idea that, after

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<v Speaker 1>all they had gone through, they should be held to

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<v Speaker 1>owe anything to begin with. Now this is the sort

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<v Speaker 1>of trademark psychology of the debtor slaver. It's an incredibly

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<v Speaker 1>toxic mix of shame, indignation, outrage, and desperation that breathes

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<v Speaker 1>an incredible kind of violence and is determined in large

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<v Speaker 1>part by the conditions of modern compound debt itself. Here's

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<v Speaker 1>Graver again. Money always has the potential to become a

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<v Speaker 1>moral imperative one to itself, allow it to expand, and

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<v Speaker 1>it can quickly become a morality so imperative that all

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<v Speaker 1>others seem frivolous in comparison. For the debtor, the world

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<v Speaker 1>is reduced to a collection of potential dangers, potential tools,

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<v Speaker 1>and potential merchandise. Even human relationships become a matter of

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<v Speaker 1>cost benefit calculation. Clearly, this is the way they conquistadors

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<v Speaker 1>viewed the worlds that they set out to conquer. Now

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<v Speaker 1>it doesn't take long until not only human relations but

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<v Speaker 1>human beings themselves become a matter of cost benefit calculation,

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<v Speaker 1>a set of merchandise that value could be extracted from,

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<v Speaker 1>And here emerges the debtor slaver. Now, very clearly, all

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<v Speaker 1>debtors do not behave like this. In fact, almost all

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<v Speaker 1>debtors across all places and all times. Do not behave

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<v Speaker 1>this way, or the world would be a place that

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<v Speaker 1>makes even how we live in now look like a paradise.

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<v Speaker 1>There's another factor at work here that distinguishes the debtor

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<v Speaker 1>from the debtor slaver, and that's power. The debder slaver

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<v Speaker 1>already wields or has wielded, enormous power over other people,

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<v Speaker 1>either through direct violence or, as we'll see later, through

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<v Speaker 1>the command of economic power. This is one of the

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<v Speaker 1>products of the righteous indignation Grapery described earlier. These are

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<v Speaker 1>people who are used to wielding power, who are suddenly

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<v Speaker 1>now beholden in a real and immediate way to someone else,

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<v Speaker 1>and so they set about solving the problem the way

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<v Speaker 1>they've solved everything else in their life, throwing violence at it. Now,

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<v Speaker 1>if you've been paying attention closely, you might realize that

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<v Speaker 1>I've actually been describing two different sort of ranks of

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<v Speaker 1>debtor slaves who sort of fuse into one mass and

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<v Speaker 1>quartets conquissadors on the lower end, the people who kind

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<v Speaker 1>of loosely be called adventurers, essentially a kind of mercenary

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<v Speaker 1>out for a big score. Be that slaves be that

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<v Speaker 1>land be that stolen loot that could vault them out

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<v Speaker 1>of debton into the aristocracy. This is the sort of

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<v Speaker 1>build general military base of the conquistador army itself. On

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<v Speaker 1>the higher end of people like Cortez who having already

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<v Speaker 1>technically who you know who are who are already technically

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<v Speaker 1>plantation owners, but their own ineptitude, have still managed to

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<v Speaker 1>become heavily indebted. Combined, they form a group responsible for

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<v Speaker 1>three centuries of the greatest evil the world has ever seen. Now,

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<v Speaker 1>these two groups, in a broad sense, need each other.

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<v Speaker 1>The adventurers may have weapons, they may have some training,

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<v Speaker 1>but at the end of the day, they have very

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<v Speaker 1>little in terms of liquid capital. At liquid capital is

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<v Speaker 1>something that you need in order to run a military campaign.

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<v Speaker 1>Because in order to keep all of these people, all

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<v Speaker 1>of these sort of adventurers, all of these sort of

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<v Speaker 1>debtor slavers, all of these sort of would be conquistadors

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<v Speaker 1>in the field, you have to produce, you know, things

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<v Speaker 1>like food, things like boots, things like medical supplies. And

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<v Speaker 1>this is where the plantation owners come in, because those

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<v Speaker 1>are people who even though they're enormously in debt, and

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<v Speaker 1>even though very often they're either fleeing their debtors or

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<v Speaker 1>their all of their debts about to be called in.

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<v Speaker 1>These are people who still technically have lines of credit

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<v Speaker 1>open and they and you know also there are also

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<v Speaker 1>people who sometimes have allies in more sort of solvent

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<v Speaker 1>people in the same class, so they're able to sort

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<v Speaker 1>of funnel liquid capital into these sort of ventures. And

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<v Speaker 1>this is a process that we are going to see

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<v Speaker 1>again after these ads. And we're back moving forward in

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<v Speaker 1>time a few hundred years and north a few thousand miles,

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<v Speaker 1>we come into another scene of debt subjugation and violen

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<v Speaker 1>the plantations of the American South. Now, this is not

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<v Speaker 1>the primitive, unhallowed fifteen hundreds, where slaves would be marked

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<v Speaker 1>like tally sticks as they were passed back and forth

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<v Speaker 1>between sword and pike wielding Spanish barbarians as they slaughtered

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<v Speaker 1>their way through one of the greatest cities the world

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<v Speaker 1>had ever known. This is the benighted eighteen hundreds. This

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<v Speaker 1>is the age of steam power and railroads, the age

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<v Speaker 1>of electricity, the advent of the global telecommunications network. What

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<v Speaker 1>would come of this new era of progress. One of

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<v Speaker 1>the greatest of all world historical crimes, the conversion of

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<v Speaker 1>human beings into increasingly complex financial instruments plantation owners contrary

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<v Speaker 1>to their depiction in media, which they've gotten almost those

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<v Speaker 1>those people have gotten almost as good PR as cops,

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<v Speaker 1>which is fairly incredible considering they haven't really existed as

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<v Speaker 1>the sort of slave owning classes they used to be

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<v Speaker 1>in you know, a hundred hundred years. I don't know,

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<v Speaker 1>discuss among yourselves when you think share cropping has sort

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<v Speaker 1>of decreased to an amount where these people like are

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<v Speaker 1>no no longer around as a class. But you know, okay,

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<v Speaker 1>just despite the sort of pr but these like Southern

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<v Speaker 1>gentlemen get these people are constantly in debt, and they're

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<v Speaker 1>you know, constantly attempting to solve the problem of them

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<v Speaker 1>being in debt with the only thing they know how

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<v Speaker 1>to do, which is slavery. And when I say they're

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<v Speaker 1>trying to solve this problem through slavery, um, we're we're

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<v Speaker 1>going to get to the more complicated ways to try

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<v Speaker 1>to solve this with slavery. One of the big ways

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<v Speaker 1>I try try to solve this with slavery is just

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<v Speaker 1>whipping people harder. It's brutal and horrible, and yeah, you

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<v Speaker 1>know this, this this is a system that is, who's

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<v Speaker 1>the the efficiency of which is just built on profound

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<v Speaker 1>human violence. So let's let's let's just established that right

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<v Speaker 1>off the bat. This is the worst kind of slavery

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<v Speaker 1>anyone's really ever done. Yeah, now you know, another factor

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<v Speaker 1>for these people essentially turning into debt or slavers is

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<v Speaker 1>the fact that these people are constantly putting themselves in

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<v Speaker 1>self inflicted debt in order to do speculation. And this

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<v Speaker 1>is the part where they start doing ship that is

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<v Speaker 1>difficult for me to even try to explain will adequately

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<v Speaker 1>capturing the horror of the process. The Southern planters began

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<v Speaker 1>to create an entire separate financial network based entirely off

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<v Speaker 1>of the quote unquote value of their slaves and their land.

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<v Speaker 1>From the historian Edward B. Baptiste, Yet enslavers had already

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<v Speaker 1>by the end of the eighteen twenties created a highly

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<v Speaker 1>innovative alternative to existing financial structure. The Consolidated Association of

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<v Speaker 1>Louisiana Planters, despite his name it c APL was still

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<v Speaker 1>a bank, created more leverage for enslavers at less cost

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<v Speaker 1>and on longer terms. It did so by securitizing slaves,

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<v Speaker 1>hedging even more effectively against the individual investors loss, so

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<v Speaker 1>long as the financial system itself did not fail. Here

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<v Speaker 1>is how it worked. Potential borrowers, mortgage slaves and cultivated

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<v Speaker 1>land to the c APL, which entitled them to borrow

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<v Speaker 1>up to half of the assessed value of their property

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<v Speaker 1>from the CIAPL and bank notes. To convince others to

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<v Speaker 1>accept the banknotes thus distributed at face value, the ci

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<v Speaker 1>ap L convinced the Louisiana legislature to back two point

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<v Speaker 1>five million dollars in bank bonds do win ten to

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<v Speaker 1>fifteen years bearing five percent interest with the faith and

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<v Speaker 1>credit of the people of the state. The Great British

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<v Speaker 1>Merchant bank bearing brother has agreed to advance the c

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<v Speaker 1>APL the equivalent of two point five million dollars in

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<v Speaker 1>Sterling bills. By the way, that is a unfathomable amount

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<v Speaker 1>of money. Now that's not five million dollars that is

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<v Speaker 1>that is it? That is an amount of money that

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<v Speaker 1>will make your ears bleed the equivalent of two point

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<v Speaker 1>five million in sterling bills and market the bonds on

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<v Speaker 1>European securities markets. The bonds effectively converted in slavery's biggest investment,

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<v Speaker 1>human beings or quote unquote hands from Maryland and Virginia

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<v Speaker 1>and North Carolina and Kentucky into multiple streams of income,

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<v Speaker 1>all under their control. Since all borrowers were officially stakeholders

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<v Speaker 1>in the bank, the sale of the bonds created a

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<v Speaker 1>high quality credit pool to be lent back to the

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<v Speaker 1>planters at a significantly lower rate, sorry at a rate

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<v Speaker 1>significantly lower than the rate of return they could expect

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<v Speaker 1>that money to produce. The pool could be used for

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<v Speaker 1>all sorts of income generating purposes, buying more slaves to

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<v Speaker 1>produce more cotton and sugar and hence more income, or

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<v Speaker 1>lending to other enslavers. Ver borrowers could pure amid their

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<v Speaker 1>leverage even higher by borrowing on the same collateral from

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<v Speaker 1>multiple lenders, while also getting unsecured short term commercial loans

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<v Speaker 1>from the c apl by purchasing new slaves with the

0:15:30.400 --> 0:15:34.800
<v Speaker 1>money they borrowed and borrowing on them too. They had

0:15:34.840 --> 0:15:40.120
<v Speaker 1>mortgaged their slaves, sometimes multiple times, and sometimes they even

0:15:40.160 --> 0:15:44.800
<v Speaker 1>mortgage fictitious slaves. But in contrast to what Walsh had promised,

0:15:44.880 --> 0:15:50.360
<v Speaker 1>Nulty in this type of mortgage gave the enslaver tremendous

0:15:50.440 --> 0:15:55.120
<v Speaker 1>margins control and flexibility. It was hard to imagine that

0:15:55.160 --> 0:15:59.520
<v Speaker 1>such borrows would be foreclosed even if they fell behind

0:15:59.560 --> 0:16:04.200
<v Speaker 1>on their aiments. After all, the borrowers owned the bank.

0:16:05.520 --> 0:16:08.840
<v Speaker 1>Using the C A p L model, slave owners were

0:16:08.840 --> 0:16:12.320
<v Speaker 1>now able to monetize their slaves by securitizing them and

0:16:12.360 --> 0:16:19.720
<v Speaker 1>then leveraging them multiple times on the international financial markets. Now, okay,

0:16:19.840 --> 0:16:24.160
<v Speaker 1>having having just spent a decent amount of time running

0:16:24.200 --> 0:16:26.760
<v Speaker 1>through the sort of finance of this, I need to reiterate.

0:16:27.080 --> 0:16:31.080
<v Speaker 1>These are human beings who are being enslaved and tortured constantly,

0:16:32.600 --> 0:16:36.040
<v Speaker 1>the ownership of whom is being mortgaged to a bank

0:16:36.600 --> 0:16:39.760
<v Speaker 1>and then sold and traded as assets on the financial market.

0:16:40.560 --> 0:16:44.720
<v Speaker 1>What what they have done here is like two thousand

0:16:44.960 --> 0:16:50.800
<v Speaker 1>eight style financial collapse, like set of collateralized loan obligations,

0:16:50.880 --> 0:16:55.480
<v Speaker 1>except the loans are backed by fucking human beings they

0:16:55.600 --> 0:16:59.200
<v Speaker 1>forced into slavery. It is a level of evil that

0:16:59.320 --> 0:17:04.720
<v Speaker 1>is almost incomprehensible because the very financial language that is

0:17:04.760 --> 0:17:09.480
<v Speaker 1>necessary to explain what they're doing, by necessity, conceals the

0:17:09.640 --> 0:17:13.440
<v Speaker 1>horror of what's actually being done and was actually being

0:17:13.480 --> 0:17:17.600
<v Speaker 1>done here is hundreds of thousands of people are being

0:17:17.640 --> 0:17:21.159
<v Speaker 1>sold into slavery and forced to clear land and work

0:17:21.640 --> 0:17:25.959
<v Speaker 1>on land that has just been stolen literally like you know,

0:17:26.080 --> 0:17:29.680
<v Speaker 1>sometimes in some cases like the day before, by indigenous

0:17:29.680 --> 0:17:31.679
<v Speaker 1>people who have just been sent on the trail of tears.

0:17:32.480 --> 0:17:35.120
<v Speaker 1>And this is this is being done to fuel these

0:17:35.119 --> 0:17:40.320
<v Speaker 1>new financial instruments. Now, in a somewhat ironic twist, the

0:17:40.400 --> 0:17:43.199
<v Speaker 1>product of this entire thing, the product of all of

0:17:43.280 --> 0:17:46.679
<v Speaker 1>this land clearing, the product of Andrew Jackson's war on

0:17:46.760 --> 0:17:50.000
<v Speaker 1>the Second Bank of the US, the product of all

0:17:50.040 --> 0:17:54.520
<v Speaker 1>of this sort of speculation is the plantations wind up

0:17:54.520 --> 0:17:58.680
<v Speaker 1>producing too much cotton, too much slave cotton, and this

0:17:58.840 --> 0:18:04.879
<v Speaker 1>quickly becomes an absolute fiasco. Debt suddenly outpaced the entire

0:18:05.040 --> 0:18:08.840
<v Speaker 1>value of the slave crop, and you know, the entire

0:18:08.920 --> 0:18:11.919
<v Speaker 1>financial system begins to implode. So it starts, It starts

0:18:11.960 --> 0:18:14.800
<v Speaker 1>in sort of the UK and the European markets that

0:18:14.840 --> 0:18:17.440
<v Speaker 1>had taken a bunch of these these sort of slave bonds.

0:18:18.359 --> 0:18:22.040
<v Speaker 1>But eventually the financial collapse spreads, and you know, as

0:18:22.080 --> 0:18:24.600
<v Speaker 1>we heard in the article, right the way these banks

0:18:24.600 --> 0:18:26.640
<v Speaker 1>are set off, the way these again like these these

0:18:26.680 --> 0:18:30.800
<v Speaker 1>banks that are just all of the bank is just slaves.

0:18:31.720 --> 0:18:33.480
<v Speaker 1>And I guess, I guess I should also take an

0:18:33.480 --> 0:18:37.160
<v Speaker 1>aside here to mention that like the normal banks are

0:18:37.200 --> 0:18:40.960
<v Speaker 1>also doing stuff like this. It's just that the South

0:18:41.080 --> 0:18:44.520
<v Speaker 1>not being content to just have normal banks taking you know,

0:18:44.600 --> 0:18:47.919
<v Speaker 1>doing mortgages, like they're taking out mortgages on houses with

0:18:48.000 --> 0:18:51.760
<v Speaker 1>slaves as collateral. Uh, they've they've credit decided to create

0:18:51.800 --> 0:18:54.479
<v Speaker 1>like they're in their own entire financial network that's just

0:18:54.720 --> 0:18:59.120
<v Speaker 1>slaves and nothing else. Well land too, but yeah, slaves

0:18:59.119 --> 0:19:03.760
<v Speaker 1>and land, and this entire thing sort of just collapses

0:19:03.760 --> 0:19:07.879
<v Speaker 1>in on itself and this leads to it to an

0:19:07.960 --> 0:19:14.360
<v Speaker 1>even larger mass of deader slavery plantation owners. And this

0:19:14.480 --> 0:19:17.480
<v Speaker 1>is where we turn from plantation slavery to some good

0:19:17.480 --> 0:19:22.600
<v Speaker 1>old fashioned conquistadoring what what have the sort of myths

0:19:22.640 --> 0:19:25.280
<v Speaker 1>of slavery with the way that you know, slavery has

0:19:25.280 --> 0:19:29.680
<v Speaker 1>been sort of understood in the West, particularly in sort

0:19:29.680 --> 0:19:32.920
<v Speaker 1>of Europe, well, particularly in the U S and the UK,

0:19:33.400 --> 0:19:40.960
<v Speaker 1>which have these sort of like complexes about you know,

0:19:41.080 --> 0:19:46.480
<v Speaker 1>like this sort of inevitability of ebolitionism and the sort

0:19:46.520 --> 0:19:51.280
<v Speaker 1>of benevolent empire against abolition or whatever. You know, there's

0:19:51.320 --> 0:19:53.400
<v Speaker 1>there's this sort of like that you get these economic

0:19:53.480 --> 0:19:55.920
<v Speaker 1>organis to that that the people people will argue that

0:19:56.320 --> 0:19:59.800
<v Speaker 1>you know, slavery was like going to collapse anyways, Like

0:20:00.680 --> 0:20:03.080
<v Speaker 1>people just let it go, it would have fell on apart,

0:20:03.400 --> 0:20:07.440
<v Speaker 1>and that that is just sort of nonsense. And one

0:20:07.480 --> 0:20:09.600
<v Speaker 1>of the things that this, one of the things that

0:20:09.640 --> 0:20:16.040
<v Speaker 1>this conceals is that slave power was constantly expansionary. It's

0:20:16.119 --> 0:20:19.480
<v Speaker 1>never sort of like slavery was never a system that

0:20:19.560 --> 0:20:22.960
<v Speaker 1>was sort of just contained in one place, right. It

0:20:23.040 --> 0:20:25.520
<v Speaker 1>was always pushing. It was always attempting to you know,

0:20:25.640 --> 0:20:29.160
<v Speaker 1>seize new land. It was always attempting to seize new slaves.

0:20:29.280 --> 0:20:31.760
<v Speaker 1>Was it was a system that could only really survive

0:20:32.320 --> 0:20:35.040
<v Speaker 1>if it was constantly able to seize new territory and

0:20:35.080 --> 0:20:38.879
<v Speaker 1>seize new slaves in order to work it. And so

0:20:39.840 --> 0:20:42.440
<v Speaker 1>there's a lot of sort of products of this, right.

0:20:43.560 --> 0:20:45.480
<v Speaker 1>One of the sort of earlier ones, you get these

0:20:45.520 --> 0:20:48.520
<v Speaker 1>settlers pushing west, attempting to turn sort of new states

0:20:48.520 --> 0:20:51.680
<v Speaker 1>and the slave states, and these are you know, these

0:20:51.720 --> 0:20:54.320
<v Speaker 1>are often, like the settlers here, often the sort of

0:20:54.320 --> 0:20:57.560
<v Speaker 1>men like euphemistically described as adventurers, with like you know,

0:20:57.560 --> 0:21:01.040
<v Speaker 1>these are people who portize right like they are people

0:21:01.119 --> 0:21:03.879
<v Speaker 1>desperately attempting to stay one step ahead of their creditors

0:21:03.920 --> 0:21:07.480
<v Speaker 1>by invoking the time honored American tradition of slaughtering indigenous

0:21:07.480 --> 0:21:10.119
<v Speaker 1>people for their land, which you know, could then be

0:21:10.119 --> 0:21:12.280
<v Speaker 1>turned over to speculators, you could be turned over to

0:21:12.320 --> 0:21:16.959
<v Speaker 1>the sort of wealthier backers. And these men and in

0:21:16.960 --> 0:21:19.920
<v Speaker 1>this period these are almost always men. I thought that's

0:21:19.920 --> 0:21:24.720
<v Speaker 1>going to change pretty soon. But these men are so

0:21:24.800 --> 0:21:27.000
<v Speaker 1>violent and so disruptive that at various points in the

0:21:27.119 --> 0:21:30.399
<v Speaker 1>late seventeen hundreds and early eight hundreds, the US like

0:21:30.520 --> 0:21:33.560
<v Speaker 1>attempts to stop them from settling any further less they

0:21:33.560 --> 0:21:37.120
<v Speaker 1>sort of disturb American foreign policy efforts. Um. And these

0:21:37.119 --> 0:21:41.159
<v Speaker 1>efforts fail, and the product of this is that manifest destinies,

0:21:41.240 --> 0:21:44.760
<v Speaker 1>you know, trail of corpses pushes even further and further west.

0:21:55.000 --> 0:21:57.720
<v Speaker 1>Now by the by the eighteen fifties, there there's a

0:21:57.760 --> 0:21:59.960
<v Speaker 1>new sort of conquistador who's setting out to you know,

0:22:00.200 --> 0:22:02.400
<v Speaker 1>conquer in the name of the Cross and paying off

0:22:02.400 --> 0:22:06.680
<v Speaker 1>their creditors. And they're called filibusters. Now this is actually

0:22:06.760 --> 0:22:09.960
<v Speaker 1>where these people are where the term filibuster as a

0:22:10.040 --> 0:22:13.439
<v Speaker 1>sort of like like thing that you do in the

0:22:13.560 --> 0:22:15.440
<v Speaker 1>sentence and not let people do stuff like that. This

0:22:15.440 --> 0:22:18.359
<v Speaker 1>this is where that comes from. It's these people. Um,

0:22:18.440 --> 0:22:23.720
<v Speaker 1>these are okay, so you know, the official descriptions of

0:22:23.760 --> 0:22:28.359
<v Speaker 1>them will say things like private armies. I there are

0:22:28.440 --> 0:22:32.520
<v Speaker 1>more these kind of like ragged bands of like slavery

0:22:32.600 --> 0:22:36.760
<v Speaker 1>mongering gennis ideas who are backed by, you know, largely

0:22:36.800 --> 0:22:40.000
<v Speaker 1>by southern plantation owners, sometimes by Southern states, occasionally by

0:22:40.040 --> 0:22:43.199
<v Speaker 1>just northern banks, because the place they're trying to go

0:22:43.359 --> 0:22:45.600
<v Speaker 1>somewhere the banks, the northern Banks want to sort of

0:22:45.600 --> 0:22:48.720
<v Speaker 1>seize control of. And you know, these people set out

0:22:48.760 --> 0:22:52.000
<v Speaker 1>to conquer new slave states by you know, straight up

0:22:52.000 --> 0:22:56.040
<v Speaker 1>season control of places like Cuba or Mexico. They do

0:22:56.080 --> 0:22:59.320
<v Speaker 1>a bunch of this stuff in Texas doesn't really work,

0:22:59.400 --> 0:23:03.720
<v Speaker 1>but you know they I mean, part of the complicated

0:23:03.760 --> 0:23:07.199
<v Speaker 1>thing and talking about the filibusters is that like, in

0:23:07.280 --> 0:23:11.720
<v Speaker 1>some sense, the most successful like attempt to do something

0:23:11.800 --> 0:23:15.080
<v Speaker 1>like this was actually Texas, but those people weren't really

0:23:15.240 --> 0:23:18.800
<v Speaker 1>phil about. Like the people who actually successfully sees control

0:23:18.840 --> 0:23:22.679
<v Speaker 1>of Texas, like Sam Adam and his sort of crew

0:23:22.720 --> 0:23:26.960
<v Speaker 1>of merry miscreant slave owners. Those guys aren't technically filibusters,

0:23:27.040 --> 0:23:29.879
<v Speaker 1>but you know, they they do sort of succeed in

0:23:30.040 --> 0:23:35.280
<v Speaker 1>bringing in Texas as a slave state. But yeah, you know,

0:23:35.240 --> 0:23:37.560
<v Speaker 1>I mean these people are they keep they keep launching

0:23:37.560 --> 0:23:40.840
<v Speaker 1>invasions of fucking Cuba. They keep launching use invasions everywhere

0:23:40.920 --> 0:23:44.439
<v Speaker 1>that There's a really great movie called Walker that's a

0:23:44.440 --> 0:23:47.639
<v Speaker 1>sort of fictionalized account of probably the most famous filibuster,

0:23:47.760 --> 0:23:51.040
<v Speaker 1>a guy named William Walker. And well, okay, so it

0:23:51.080 --> 0:23:54.680
<v Speaker 1>starts with his attempt to like conquered Mexico, which doesn't

0:23:54.680 --> 0:23:57.600
<v Speaker 1>go well, but then it sets out for his ataept

0:23:57.600 --> 0:24:00.560
<v Speaker 1>to conquered in Charagua, which like kind of works, actually

0:24:00.560 --> 0:24:05.320
<v Speaker 1>takes Nicaragua for a little bit. You know. But this

0:24:05.320 --> 0:24:07.199
<v Speaker 1>this this movie version of it's also like it's an

0:24:07.240 --> 0:24:10.159
<v Speaker 1>anti war film about the US backing the contrast, and

0:24:11.160 --> 0:24:14.000
<v Speaker 1>it rules. I'm talking about it because nobody's ever watched

0:24:14.000 --> 0:24:17.639
<v Speaker 1>this thing. And the studio when when they they actually

0:24:17.720 --> 0:24:20.879
<v Speaker 1>figured out what Walker was and that it was, you know,

0:24:20.920 --> 0:24:24.919
<v Speaker 1>like an an anti war film about the contrast, they

0:24:25.200 --> 0:24:29.640
<v Speaker 1>literally killed the entire movie and the director, Alex Cox,

0:24:29.680 --> 0:24:31.560
<v Speaker 1>here's the guy you should repo man like, he literally

0:24:31.640 --> 0:24:35.560
<v Speaker 1>never worked in Hollywood again after this. So yeah, go

0:24:35.640 --> 0:24:38.240
<v Speaker 1>watch Walker. Understand it's a little it's a bit fictionalized.

0:24:38.400 --> 0:24:41.520
<v Speaker 1>It's mostly an anti war film about the contrast, but

0:24:41.600 --> 0:24:43.360
<v Speaker 1>you know, part of what you try to track down

0:24:43.359 --> 0:24:45.680
<v Speaker 1>and personally, that is very important about this is that

0:24:46.400 --> 0:24:49.600
<v Speaker 1>you know, the there's this, there's these sort of lineages

0:24:49.600 --> 0:24:53.480
<v Speaker 1>of American colonialism, and part of these lineary edges is

0:24:53.520 --> 0:24:57.480
<v Speaker 1>that you know, like the that literally does not matter

0:24:57.640 --> 0:24:59.680
<v Speaker 1>like what century you're in, the US is trying to

0:24:59.720 --> 0:25:03.360
<v Speaker 1>see his introl of Nicaragua. Now, okay, so but back

0:25:03.359 --> 0:25:06.879
<v Speaker 1>back to the soil. The filibusters mainline. Unlike the Conquistadors,

0:25:06.920 --> 0:25:10.080
<v Speaker 1>who were kind of like I don't know, they had

0:25:10.119 --> 0:25:15.080
<v Speaker 1>a combination of being really really lucky and also like

0:25:15.760 --> 0:25:19.000
<v Speaker 1>genu winely having some pretty good leadership even though you know,

0:25:19.400 --> 0:25:24.640
<v Speaker 1>good leadership, but for evil I those guys were really successful.

0:25:25.040 --> 0:25:30.800
<v Speaker 1>The Philip Buzzers they mostly failed because again this is

0:25:30.920 --> 0:25:33.520
<v Speaker 1>these these are mostly sort of just like bands of

0:25:33.680 --> 0:25:37.639
<v Speaker 1>like marauders. They almost they barely have supply lines, like

0:25:38.640 --> 0:25:42.479
<v Speaker 1>I don't know, sometimes they have real weapons, but they're

0:25:42.520 --> 0:25:46.040
<v Speaker 1>not especially competent. But what what what they did do

0:25:46.640 --> 0:25:50.560
<v Speaker 1>is they kill a lot of people. And this this

0:25:50.720 --> 0:25:54.960
<v Speaker 1>is one of those things that's sort of like I

0:25:55.000 --> 0:25:57.840
<v Speaker 1>don't know, it gets sort of romanticized or it gets

0:25:57.840 --> 0:26:00.720
<v Speaker 1>sort of like brushed over. Is that like, yeah, I know,

0:26:00.960 --> 0:26:06.320
<v Speaker 1>these these people like they're they're like these groups are

0:26:06.359 --> 0:26:10.680
<v Speaker 1>basically like rolling lynch mobs, and so you know, there

0:26:10.800 --> 0:26:13.200
<v Speaker 1>they'll they'll be doing something that run into a town.

0:26:13.280 --> 0:26:16.240
<v Speaker 1>They'll just they'll just kill everyone. They will enslave people,

0:26:16.280 --> 0:26:19.600
<v Speaker 1>they were rape people, they do ship that is just

0:26:20.280 --> 0:26:24.520
<v Speaker 1>they're absolutely imborrant. And that's that's the sort of legacy

0:26:24.560 --> 0:26:27.399
<v Speaker 1>of this stuff. And you know, they probably would have

0:26:27.480 --> 0:26:30.679
<v Speaker 1>kept doing it and you know, except they were stopped. Right.

0:26:30.800 --> 0:26:34.080
<v Speaker 1>One of one of the sort of like legacies of

0:26:34.160 --> 0:26:37.639
<v Speaker 1>these people is eventually the sort of slave powers like

0:26:39.040 --> 0:26:41.080
<v Speaker 1>wind Up and Bleeding Kansas, which is the sort of

0:26:41.119 --> 0:26:44.240
<v Speaker 1>semi civil war between the pro slavery anti slavery forces

0:26:44.280 --> 0:26:47.800
<v Speaker 1>in Kansas that leads to the regular Civil War. But

0:26:48.359 --> 0:26:49.919
<v Speaker 1>you know, I mean, I think I think it's sort

0:26:49.920 --> 0:26:54.600
<v Speaker 1>of important to understand about this entire thing is that

0:26:54.680 --> 0:26:57.560
<v Speaker 1>these people just kept accumulating power and kept accumulating power

0:26:57.600 --> 0:27:00.600
<v Speaker 1>and kept a commulating power do someone stopped them. And

0:27:00.920 --> 0:27:03.800
<v Speaker 1>that was also true of the conquistadors, right, Like I mean,

0:27:03.920 --> 0:27:06.919
<v Speaker 1>you know, and like arguably arguably the sort of sentences

0:27:06.920 --> 0:27:09.960
<v Speaker 1>those people are still in power. But like, you know,

0:27:10.080 --> 0:27:14.440
<v Speaker 1>the Spanish were not run out of the places that

0:27:14.560 --> 0:27:19.520
<v Speaker 1>they had conquered until people sort of fought them. Now,

0:27:19.640 --> 0:27:22.520
<v Speaker 1>the last thing I want to do is we're also

0:27:22.680 --> 0:27:27.440
<v Speaker 1>not free of this kind of guy. Um. It kind

0:27:27.440 --> 0:27:31.560
<v Speaker 1>of manifests in different ways in sort of more recent times.

0:27:31.680 --> 0:27:35.760
<v Speaker 1>I think probably the the closest we have to the

0:27:35.800 --> 0:27:39.440
<v Speaker 1>sort of like corporate Cortez thing are the people behind

0:27:39.520 --> 0:27:41.280
<v Speaker 1>the sort of it gets it gets re read it

0:27:41.280 --> 0:27:45.840
<v Speaker 1>as mergens and acquisitions. But the people behind the like

0:27:46.040 --> 0:27:51.320
<v Speaker 1>leveraged buy out um, like corporate radar stuff on Wall

0:27:51.359 --> 0:27:55.240
<v Speaker 1>Street in the eighties, who you know. And then the reason,

0:27:55.280 --> 0:27:57.560
<v Speaker 1>the reason they sort of they behave and they think

0:27:57.840 --> 0:27:59.119
<v Speaker 1>in a lot of the very in a lot of

0:27:59.200 --> 0:28:01.240
<v Speaker 1>the same ways as these sort of as a sort

0:28:01.280 --> 0:28:05.400
<v Speaker 1>of debt or slavers, is that their their financial techniques

0:28:06.720 --> 0:28:10.960
<v Speaker 1>leave them in basically the same situation as um as

0:28:11.119 --> 0:28:13.919
<v Speaker 1>as your Cortez, which is that the way that these

0:28:13.960 --> 0:28:16.280
<v Speaker 1>people take over a company, and these these are basically

0:28:16.320 --> 0:28:19.240
<v Speaker 1>financed people. These are investors who have figured out a

0:28:19.280 --> 0:28:21.119
<v Speaker 1>way to seize control of companies. And the way they

0:28:21.160 --> 0:28:25.479
<v Speaker 1>figured out to do it is they they essentially they

0:28:25.520 --> 0:28:28.680
<v Speaker 1>still bonds other investors. So the short version of it

0:28:28.800 --> 0:28:31.600
<v Speaker 1>is that, yeah, they they go into an enormous amount

0:28:31.640 --> 0:28:34.720
<v Speaker 1>of debt personally, right in order to you know, have

0:28:34.960 --> 0:28:37.000
<v Speaker 1>enough money to just buy up the stock prices of

0:28:37.080 --> 0:28:40.280
<v Speaker 1>the company. And you know, they say, okay, we're gonna

0:28:40.280 --> 0:28:42.920
<v Speaker 1>buy say say say your stock prices thirty five dollars,

0:28:42.960 --> 0:28:44.760
<v Speaker 1>are like, okay, we're gonna buy the stock at forty

0:28:46.040 --> 0:28:49.120
<v Speaker 1>and unless the company can you know, like somehow raise

0:28:49.160 --> 0:28:51.880
<v Speaker 1>their stock price above that in order to defend them off.

0:28:52.360 --> 0:28:54.560
<v Speaker 1>You know, this one person who's taking on an enormous

0:28:54.560 --> 0:28:57.040
<v Speaker 1>amount of debt now suddenly just owns the company and

0:28:57.120 --> 0:28:58.760
<v Speaker 1>he could transfer the debt onto the company, and then

0:28:58.800 --> 0:29:01.239
<v Speaker 1>he has to start, you know, just upping assets from it. Right.

0:29:02.000 --> 0:29:03.680
<v Speaker 1>He has to find ways to make money. He has

0:29:03.720 --> 0:29:07.040
<v Speaker 1>to find ways to sort of raise the stock price

0:29:07.080 --> 0:29:09.360
<v Speaker 1>of this thing, you know. And this is usually done

0:29:09.400 --> 0:29:13.400
<v Speaker 1>by like stripping people's pensions, by firing people, by just

0:29:13.600 --> 0:29:18.200
<v Speaker 1>destroying entire like entire sort of like people's livelihoods. This

0:29:18.320 --> 0:29:21.120
<v Speaker 1>is done by just dismantling companies wholesale like towards Arouse

0:29:21.240 --> 0:29:23.640
<v Speaker 1>is the last company that sort of famously had this

0:29:23.680 --> 0:29:25.520
<v Speaker 1>happened to them. They just get completely dismembered and they

0:29:25.520 --> 0:29:30.800
<v Speaker 1>get completely dismembered because the people who buy these companies, right,

0:29:31.640 --> 0:29:34.400
<v Speaker 1>and you know this eventually short of transider firms instead, etcetera, etcetera.

0:29:34.560 --> 0:29:40.160
<v Speaker 1>But those people are also unbelievably in debt, right, and

0:29:40.880 --> 0:29:42.720
<v Speaker 1>you know it's that that they've imposed on themselves. It

0:29:42.800 --> 0:29:45.760
<v Speaker 1>isn't that you know, the sort of psychological effects of

0:29:45.840 --> 0:29:51.080
<v Speaker 1>it are very similar. And you know, I think I

0:29:51.120 --> 0:29:57.240
<v Speaker 1>think the thing about sort of like the late century

0:29:57.320 --> 0:30:01.760
<v Speaker 1>is that the violence gets outsourced. So you know, these

0:30:01.800 --> 0:30:05.360
<v Speaker 1>people still have slaves, but the slaves are like you

0:30:05.440 --> 0:30:08.240
<v Speaker 1>know that the slaves are owned by a contractor who's

0:30:08.240 --> 0:30:13.600
<v Speaker 1>our contractor of a contractor like somewhere way down the line.

0:30:15.960 --> 0:30:19.840
<v Speaker 1>But you know, the the sort of strategic stuff and

0:30:19.960 --> 0:30:23.200
<v Speaker 1>the way that these people behave is very similar. And

0:30:23.400 --> 0:30:25.320
<v Speaker 1>I think it's worth knowing that there's there's two there's

0:30:25.320 --> 0:30:26.960
<v Speaker 1>people who there's coople people who come out of this

0:30:27.120 --> 0:30:30.440
<v Speaker 1>era who are very important now. One is that one

0:30:30.440 --> 0:30:31.640
<v Speaker 1>of the people who comes out of this sort of

0:30:31.720 --> 0:30:34.480
<v Speaker 1>eighties nineties era who was also constantly in debt, and

0:30:34.520 --> 0:30:38.480
<v Speaker 1>it's also just sort of like a murderous, like incredibly

0:30:38.600 --> 0:30:42.560
<v Speaker 1>vengeful person who who's also sort of dealing with these

0:30:42.640 --> 0:30:47.000
<v Speaker 1>same kinds of like you know, the who's tapping into

0:30:47.080 --> 0:30:49.240
<v Speaker 1>the sort of emotions of the sort of like indignation

0:30:49.360 --> 0:30:54.600
<v Speaker 1>and outrage and desperation, like is Donald Trump and you know,

0:30:55.120 --> 0:30:57.000
<v Speaker 1>in Toronald Trump, I think is a sort of tragedy

0:30:57.120 --> 0:30:58.280
<v Speaker 1>version of it. And then you get to see it.

0:30:58.400 --> 0:31:03.080
<v Speaker 1>We've been getting to see it, uh with Elon Musk

0:31:03.080 --> 0:31:04.880
<v Speaker 1>as a sort of farst version of it, where he's

0:31:05.080 --> 0:31:07.720
<v Speaker 1>you know, increasingly desperate to try to dig himself out

0:31:07.760 --> 0:31:10.960
<v Speaker 1>of the hole that he got by buying by having

0:31:11.000 --> 0:31:14.680
<v Speaker 1>to leverage himself so much to buy Twitter. But yeah,

0:31:14.760 --> 0:31:17.560
<v Speaker 1>we are, we well remain haunted by the specter of

0:31:17.720 --> 0:31:21.640
<v Speaker 1>this kind of guy. And they've done They've done enormous

0:31:21.680 --> 0:31:23.680
<v Speaker 1>harm to the world. They're probably going to keep doing

0:31:23.800 --> 0:31:28.720
<v Speaker 1>enormous harm in the world. And yeah, but but again,

0:31:28.760 --> 0:31:34.880
<v Speaker 1>I I think it is worth thinking about them psychologically

0:31:34.880 --> 0:31:37.560
<v Speaker 1>and worth understanding that it's not that you know, like

0:31:37.880 --> 0:31:41.200
<v Speaker 1>at the core of sort of like the capitalist death machine,

0:31:41.240 --> 0:31:45.000
<v Speaker 1>are not necessarily these like incredibly cold, rational calculating people.

0:31:45.120 --> 0:31:47.360
<v Speaker 1>It's a bunch of people who are frantic, who are desperate,

0:31:47.400 --> 0:31:50.680
<v Speaker 1>who are very very angry, and that doesn't make them

0:31:50.760 --> 0:31:52.560
<v Speaker 1>sort of you know, doesn't make them more sympathetic, it

0:31:52.640 --> 0:31:59.400
<v Speaker 1>just makes them more violence. It Could Happen Here as

0:31:59.440 --> 0:32:02.120
<v Speaker 1>a production of cool Zone Media. For more podcasts from

0:32:02.160 --> 0:32:05.040
<v Speaker 1>cool Zone Media, visit our website cool zone media dot com,

0:32:05.240 --> 0:32:06.960
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<v Speaker 1>find sources for It could Happen Here, updated monthly at

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