WEBVTT - Operation Hope Explained 0:00:00.200 --> 0:00:03.440 Welcome the Money and Wealth with John Hobryant, a production 0:00:03.680 --> 0:00:15.319 of the Black Effect Podcast Network and iHeartRadio. Yo, Yo Yo. 0:00:15.400 --> 0:00:18.239 This is John Hope Bryant, and this is Money and 0:00:18.320 --> 0:00:23.680 Wealth on the Black Effect Network on iHeartRadio. This is 0:00:23.800 --> 0:00:27.720 season two and this is a special bonus episode that 0:00:27.840 --> 0:00:33.200 I really thought I would never do, in part because well, 0:00:33.320 --> 0:00:36.680 I was just wrong. I assumed you knew all this 0:00:36.760 --> 0:00:39.440 stuff about Operation Hope, and I don't know where I 0:00:39.479 --> 0:00:41.080 got that from. I don't know why I would have 0:00:41.120 --> 0:00:44.600 assumed that you would know all that Operation Hope does. 0:00:44.680 --> 0:00:48.040 I've never taken the time to actually unpack and explain 0:00:48.080 --> 0:00:50.920 it to you. I just assumed, because you know me, 0:00:51.720 --> 0:00:54.520 you know it. And for that I'm wrong. Because when 0:00:54.560 --> 0:00:58.520 you assume, you make an ass you and me. It's 0:00:58.520 --> 0:01:02.600 literally what it's spells out. And so you should never 0:01:02.640 --> 0:01:04.839 assume anything. And I tell people that all the time, 0:01:04.880 --> 0:01:06.720 but I didn't practice what I preached, So for that 0:01:06.840 --> 0:01:11.000 I apologize. So today we're going to well set the 0:01:11.040 --> 0:01:14.679 record straight and we're going to get on a whole 0:01:14.720 --> 0:01:18.720 new trajectory here by breaking down the tools and shovels 0:01:18.720 --> 0:01:22.680 of Operation Hope, because really, the world owes you an apology. 0:01:23.760 --> 0:01:27.000 People will say often I hear them say I hate 0:01:27.000 --> 0:01:31.840 capitalism or I hate I hate rich people. And my 0:01:31.959 --> 0:01:37.360 response often is, well, no, you don't. You hate rich 0:01:37.400 --> 0:01:41.400 people until you become rich. What you hate is a 0:01:41.440 --> 0:01:45.240 game system. What you hate is a system that is 0:01:46.280 --> 0:01:48.720 seems to be somehow rigged against you. That know how, 0:01:49.480 --> 0:01:52.200 no matter how hard you work, no matter what you do, 0:01:53.040 --> 0:01:55.360 you can't seem to get ahead. You've got too much 0:01:55.440 --> 0:01:58.320 month at the end of your money, can I get 0:01:58.360 --> 0:02:03.520 an amen? So it's not you. The system is sort 0:02:03.520 --> 0:02:07.760 of rigged against you because you never got the Memo 0:02:07.920 --> 0:02:10.959 that was my fourth book. I also assume you read 0:02:10.960 --> 0:02:13.600 all my books. By the way, there was Banking Our Future, 0:02:13.639 --> 0:02:17.800 there's Love Leadership, There's How the porkin Save Capitalism a bestseller, 0:02:18.400 --> 0:02:22.400 There is the Memo bestseller. There's Up from Nothing that 0:02:22.600 --> 0:02:25.200 was a bestseller, and then the sort of the rocket 0:02:25.200 --> 0:02:28.880 ship bestseller. The one that's out now is Financial Literacy 0:02:29.080 --> 0:02:33.720 for All, which has been a bestseller for going on 0:02:33.880 --> 0:02:37.799 fifteen months now on hardcover and now paper books, paperback, 0:02:38.160 --> 0:02:44.639 and you get it at Walmart or Amazon, or you're 0:02:44.639 --> 0:02:48.320 a local bookstore, your local bookstore. If you could give 0:02:48.320 --> 0:02:50.360 a black bookstore, you neighborhood, you should support it. By 0:02:50.360 --> 0:02:52.760 the way, if you if you know a person of color, 0:02:52.880 --> 0:02:58.040 or a woman's own store, a minority a small business bookstore, 0:02:58.040 --> 0:03:01.320 you should support it. So anyway that I've outlined this 0:03:02.320 --> 0:03:05.520 and unpacked sort of the how to of how we 0:03:05.600 --> 0:03:09.400 got here in my books, I've described how we never 0:03:09.400 --> 0:03:14.679 got the memo, why in many ways we make assumptions 0:03:15.680 --> 0:03:18.920 about this. That is what we don't know. That we 0:03:19.000 --> 0:03:20.680 don't know this killing is what we think we know. 0:03:21.360 --> 0:03:23.640 We assume that we've got the memo. We assume that 0:03:23.639 --> 0:03:27.160 we understand how the system works. We shouldn't assume anything. Again, 0:03:27.440 --> 0:03:32.800 I've the society assumes that about us, and I assumed, 0:03:33.080 --> 0:03:35.080 by the way, as I said earlier, that you knew 0:03:35.120 --> 0:03:37.560 all about Operation Hope. Both of those things are wrong 0:03:38.560 --> 0:03:42.240 and you should not feel ashamed. As I keep saying 0:03:42.560 --> 0:03:47.080 in this podcast episode in series over the last two years, 0:03:47.400 --> 0:03:50.360 you should not be ashamed because it's because you don't know. 0:03:51.120 --> 0:03:52.840 It's what you don't know. That you don't know this 0:03:53.000 --> 0:03:55.040 killing you. But you think you know, but no one 0:03:55.080 --> 0:03:57.280 ever taught you to know better. If you knew better, 0:03:57.320 --> 0:04:00.120 you do better. How do I know that because as 0:04:00.120 --> 0:04:02.840 you've already proven it were, the rules are published, and 0:04:02.960 --> 0:04:08.880 the plainfielder's level, you kill it, you succeed. Let's give 0:04:08.920 --> 0:04:17.919 some examples the arts, professional sports, faith, politics. The rules 0:04:17.920 --> 0:04:23.080 are published, the plainfool's level, you killed it, you succeeded. Now, 0:04:23.279 --> 0:04:28.120 about six thousand years ago, we had a choice to make, 0:04:28.480 --> 0:04:33.320 and for a range of reasons, our season was culture. 0:04:33.400 --> 0:04:37.960 We decided to become an expert in culture, and that 0:04:38.120 --> 0:04:41.360 became the definition of cool. And we are the definition 0:04:41.440 --> 0:04:45.680 of cool all around the world. Well, our mainstream friends, 0:04:47.080 --> 0:04:49.600 and this includes our Jewish brothers and sisters, by the way, 0:04:50.680 --> 0:04:55.960 kudos on them. They decided to major in capitalism, and 0:04:56.080 --> 0:04:58.480 so you have commerce and capitalists on the on the 0:04:58.640 --> 0:05:01.200 on the one side, and commerce and kosher and cool 0:05:01.200 --> 0:05:04.359 on the other. They're all good. None of this is 0:05:04.480 --> 0:05:07.880 bad stuff. They're good in different ways. But the problem 0:05:07.960 --> 0:05:10.400 is that if you're rocking the mic but you don't 0:05:10.400 --> 0:05:14.640 own the stage, then you're renting your future. If you're 0:05:14.680 --> 0:05:17.440 rocking the mic but you don't own the stage, right, 0:05:18.000 --> 0:05:21.840 then you're renting your future. And that has been the 0:05:21.880 --> 0:05:26.880 storyline of all these achievers who confuse making money with 0:05:27.000 --> 0:05:29.200 building wealth. You make money. During the day you build 0:05:29.200 --> 0:05:31.000 wealth and your sleep. Because again, no one taught us 0:05:31.040 --> 0:05:33.920 how this system works. No one taught us this game 0:05:33.960 --> 0:05:36.440 of capitalism. So we are about getting that ball to 0:05:36.640 --> 0:05:40.400 get that dollar, getting that bag, getting that cash, getting paid. Okay, great, 0:05:40.640 --> 0:05:43.479 that's called a contract an opportunity, and you mayet rich 0:05:43.560 --> 0:05:46.040 for a moment, but you won't be wealthy. And if 0:05:46.040 --> 0:05:48.240 your outfloaks is your inflows and your overhead, it will 0:05:48.240 --> 0:05:51.880 be your downfall. So if you're making money, I don't 0:05:51.880 --> 0:05:54.400 care how much money you make, how little or much 0:05:54.520 --> 0:05:58.960 you make. If the income stops because the contract or 0:05:59.000 --> 0:06:02.920 the agreement stops and your expenses continue and you don't 0:06:02.920 --> 0:06:05.720 have something offsetting that, which is a level of wealth 0:06:05.760 --> 0:06:08.359 you've been able to create, then you're going to go 0:06:08.440 --> 0:06:12.000 broke slowly, or in some cases, when it's a lot 0:06:12.040 --> 0:06:15.200 of money, you'll go broke very fast and very in 0:06:15.240 --> 0:06:18.800 a spectacular fashion. So there's nothing wrong with us. We're 0:06:18.839 --> 0:06:23.039 not dumb, we're not stupid. We have too much month 0:06:23.040 --> 0:06:25.360 at the end of our money. Seventy percent of this 0:06:25.400 --> 0:06:28.440 country is living from patrick to paycheck as everybody but 0:06:28.680 --> 0:06:30.720 half of black folks have a credit score below six 0:06:30.760 --> 0:06:33.320 to twenty we're the lowest in the country on average. 0:06:33.320 --> 0:06:35.560 And again we're not dumb and we're not stupid. We 0:06:35.560 --> 0:06:38.080 were enslaved on American soil. It was illegal to teach 0:06:38.160 --> 0:06:40.359 us how to teach us how to read. Forget teaching 0:06:40.400 --> 0:06:44.680 uspential literacy, that was a big no no. And capitalism, 0:06:44.760 --> 0:06:47.200 forget about it altogether. We were, in fact we were 0:06:47.320 --> 0:06:50.720 capital So I don't want you, I want you. I 0:06:50.760 --> 0:06:53.440 don't want you thinking there's something wrong with why you 0:06:53.440 --> 0:06:55.320 don't know this, and I don't want you ashamed to 0:06:55.320 --> 0:06:58.320 have these conversations. And that is in part why I'm 0:06:58.360 --> 0:07:00.960 doing this episode because not only do I want to 0:07:01.000 --> 0:07:03.839 inspire you with the lessons every week about how the 0:07:03.880 --> 0:07:07.320 systems work U and I want you to master the system. 0:07:08.120 --> 0:07:11.800 Don't be upset by it, because once you understand the rules, 0:07:11.840 --> 0:07:13.520 I think that you will kill it. In this area 0:07:13.560 --> 0:07:16.800 as well. I mean I joked that black folks you know, 0:07:17.000 --> 0:07:21.239 found tennis and killed it. The Williams sisters we found 0:07:21.320 --> 0:07:25.400 f one racing you know, Lewis Hamilton and killed it. Right, 0:07:26.160 --> 0:07:31.520 We found uh, you know, soccer killed it. All these 0:07:31.600 --> 0:07:35.000 areas where we golf, you know, Tiger Woods. We're not 0:07:35.120 --> 0:07:37.720 normally at we've found these areas. We figured out the 0:07:37.760 --> 0:07:41.960 rules of engagement and playing the rules, playing by the rules. 0:07:42.680 --> 0:07:46.680 We killed it. And you're now seeing blacks and NASCAR racing. 0:07:46.720 --> 0:07:49.000 You're seeing black Okay, So we can. We've proved we 0:07:49.040 --> 0:07:54.280 can do it this success thing everywhere. Why couldn't we 0:07:54.320 --> 0:07:56.640 do it in capitalism and free enterprise. It makes no 0:07:56.680 --> 0:07:59.520 sense that we cannot. It makes every sense that we can. 0:08:00.800 --> 0:08:03.400 That's the system that I want to teach you. I 0:08:03.440 --> 0:08:09.360 also want to create a network of resources and services 0:08:09.360 --> 0:08:12.400 and programs to help you, not giving you a handout, 0:08:12.640 --> 0:08:14.920 but a hand up. And by the way, our service 0:08:14.960 --> 0:08:17.640 is available to everybody, black, white, red, brown, and yellow. 0:08:17.720 --> 0:08:19.200 I'm going to show you how to produce some green. 0:08:19.520 --> 0:08:22.320 Whether you're black and brown urban or your poor, white 0:08:22.320 --> 0:08:24.440 and rural and you live in a five under credit 0:08:24.560 --> 0:08:26.960 cord neighborhood, you've got the same problem. You have a 0:08:27.040 --> 0:08:29.800 check casher next to a patio on lender, next to 0:08:29.800 --> 0:08:32.520 a render owned store, next to a title lender, next 0:08:32.559 --> 0:08:35.240 to a liquor store, next to a pawn shop, right 0:08:35.720 --> 0:08:37.079 and a church down the street. Trying to make you 0:08:37.120 --> 0:08:39.400 feel a little bit better. Once a week you had 0:08:39.400 --> 0:08:43.600 the military. You're the military installation, a military base. All 0:08:43.640 --> 0:08:45.960 these predators are right there at the gates of the 0:08:46.000 --> 0:08:49.319 military base waiting for you to come out, because they realize, 0:08:49.440 --> 0:08:53.400 they know, they realize, they know, they're hoping you don't 0:08:53.440 --> 0:08:58.840 realize that you cannot have defaults on your financial picture 0:08:59.360 --> 0:09:01.719 if you want to keep your military credentials and your 0:09:01.720 --> 0:09:05.120 security clearances. So they are going to do They know 0:09:05.120 --> 0:09:06.800 you're going to do anything you can't have to to 0:09:06.840 --> 0:09:08.920 clear up your debts, and they're going to try to 0:09:08.920 --> 0:09:12.320 help clear out your pockets as you're doing that. So 0:09:12.679 --> 0:09:17.120 we're all in this thing together. I believe that the 0:09:17.160 --> 0:09:21.400 new movements in the suites, not the streets. The work 0:09:21.400 --> 0:09:24.880 in the streets continues. Civil rights, as we can see 0:09:25.040 --> 0:09:29.000 clearly now, is still very much needed. But civil rights 0:09:29.280 --> 0:09:31.760 has to have a partner, and now believe that civil 0:09:31.920 --> 0:09:35.960 rights si l v Er I believe the work in 0:09:36.000 --> 0:09:38.439 the streets have to now move to the suites. A 0:09:38.520 --> 0:09:42.080 protesting has to transition to partnership. That we've got to 0:09:42.120 --> 0:09:47.320 go from just cashing a check to writing them this 0:09:47.480 --> 0:09:50.880 and we've got to not just focus on red rooms, 0:09:50.920 --> 0:09:55.240 which are rooms designed to stop discrimination, racism, biased, all 0:09:55.240 --> 0:09:58.959 the bad things, but to point toward and hope, open 0:09:59.040 --> 0:10:05.959 up and support and encourage and develop new green rooms, internships, apprenticeships, 0:10:07.840 --> 0:10:13.959 places to create enterprise and entrepreneurship, places of education that 0:10:14.000 --> 0:10:18.960 connects education with aspiration, giving people the tools and the 0:10:18.960 --> 0:10:23.280 shovels to come up from nothing. You can't bootstrap yourself 0:10:23.280 --> 0:10:25.120 if you don't have shoelaces. We want to give you 0:10:25.120 --> 0:10:28.120 those shoelaces so that you can add to the American tapestry, 0:10:28.160 --> 0:10:30.240 so you can complete the American dream. I believe this 0:10:30.320 --> 0:10:33.600 is a third reconstruction. The first reconstruction was freedom Civil 0:10:33.640 --> 0:10:38.880 War right after it, Frederick Douglas's Abraham Lincoln, etc. All 0:10:38.920 --> 0:10:42.080 of the heroes and heroes of that era. Second reconstruction 0:10:42.320 --> 0:10:45.920 civil Rights movement, Doctor Martin la King Jr. My mentor hero, 0:10:46.040 --> 0:10:49.080 Andrew Young. Bastard Andrew Young, who's a global spokesman of 0:10:49.080 --> 0:10:53.160 Operation Hope and the man who created effectively the only 0:10:53.200 --> 0:10:55.320 international city in the South, which is a tenth lars 0:10:55.360 --> 0:10:59.880 economy in the country, which is built on diversity and inclusion, Atlanta, Georgia. 0:11:00.240 --> 0:11:03.080 And we're Operation to Hope in my company's Brian Group Companies, 0:11:03.080 --> 0:11:06.439 Brian Group Ventures, etc. Are headquarters and then the promise 0:11:07.000 --> 0:11:10.400 and the promise of the future, I believe is this 0:11:10.440 --> 0:11:13.800 third reconstruction that we're in now, which is about moving 0:11:13.840 --> 0:11:16.319 you from the streets to the suites, expanding the table, 0:11:16.360 --> 0:11:19.520 adding a chair, including yourself in it as opportunity, growing 0:11:19.559 --> 0:11:22.080 GDP for all of us in new colors, not black 0:11:22.160 --> 0:11:25.280 or white as in race, or red or blue as 0:11:25.280 --> 0:11:28.439 in politics that define the first and second reconstructions. This 0:11:28.600 --> 0:11:30.760 third one, I believe the color is green. Where we 0:11:31.000 --> 0:11:34.840 go from a history of bad capitalism, slavery being a 0:11:34.920 --> 0:11:37.480 really good, bad example of that, to a history of 0:11:37.520 --> 0:11:41.040 good capitalism where bad capitalism is where I benefit and 0:11:41.080 --> 0:11:43.640 you benefit. Sorry, I benefit and you pay a price 0:11:43.679 --> 0:11:46.360 for it, and good capitalism is where I benefit and 0:11:46.400 --> 0:11:49.200 you benefit more. Can I get an amen? So we 0:11:49.240 --> 0:11:51.440 can do well and do good too? Right, we can 0:11:51.600 --> 0:11:53.400 have the system of good capitalism, but you've got to 0:11:53.480 --> 0:11:55.319 understand the rules of the game. Somebody's got to give 0:11:55.320 --> 0:11:57.839 you the memo, somebody's got to lay the framework out 0:11:57.840 --> 0:12:00.880 for you. And beyond that education and an aspiration, you 0:12:00.960 --> 0:12:03.520 need tool services in a platform. So when I said 0:12:03.520 --> 0:12:05.440 I want to become the federal Reserve of the hood, 0:12:05.800 --> 0:12:09.000 that was all disrespect to the Federal Reserve. I think 0:12:09.000 --> 0:12:13.680 the Federal Reserve is fantastic, and it's not it's not 0:12:13.840 --> 0:12:16.240 lacking in any way. It's a standard, a ghost standard 0:12:16.280 --> 0:12:19.480 for the world, no pun intended, good standard. But there 0:12:20.440 --> 0:12:24.040 is another America that that seemed to can't even get 0:12:24.120 --> 0:12:27.520 to the benefits of the Federal Reserve because they live 0:12:27.640 --> 0:12:32.400 in another hood. They've been left behind by the neighborhood, 0:12:32.840 --> 0:12:36.840 by the systems. You're not broken, the system is. And 0:12:36.920 --> 0:12:42.080 so I decided to create economic plumbing for underserved America. 0:12:43.200 --> 0:12:45.719 That is a vision of Operation Hope. So if you're 0:12:45.720 --> 0:12:51.720 looking at this on your video feed, or you're listening 0:12:51.720 --> 0:12:54.439 to this on your podcast network, you're going you're you're 0:12:54.960 --> 0:12:57.640 listening to this on your way to work, or you're jogging, 0:12:57.800 --> 0:13:01.480 or you're cooking, or you're with the girl or your buddies, 0:13:02.080 --> 0:13:04.199 and you don't have a lot of time, or you 0:13:04.240 --> 0:13:06.000 want to send this to somebody else and they have 0:13:06.080 --> 0:13:07.520 short periods of time, tell them to go to the 0:13:07.600 --> 0:13:11.120 minute thirteen. And that's where John Briant goes in on 0:13:11.440 --> 0:13:14.960 the what, because when you finish this podcast, I want 0:13:15.000 --> 0:13:17.560 you to have the tools and the shovels you need 0:13:18.000 --> 0:13:21.040 to literally empower your life with the information that I'm 0:13:21.080 --> 0:13:23.520 giving you. So I'm going to punch through this pretty 0:13:23.600 --> 0:13:25.800 quickly because you're really smart and you don't need to 0:13:25.840 --> 0:13:31.079 handhold you. So we're not just helping people. We're rebuilding 0:13:31.360 --> 0:13:36.439 the operating system of American capitalism, inclusive economics. I call 0:13:36.480 --> 0:13:41.880 it inclusive capitalism. I call it. It is expanding the 0:13:42.920 --> 0:13:45.360 lens of free enterprise. It is, to quote my friend 0:13:45.360 --> 0:13:49.400 Stephanie Rule, expanding the table and adding a chair. So 0:13:49.480 --> 0:13:53.720 Operation Hope that I found it thirty three years ago 0:13:53.880 --> 0:13:56.800 in south central Los Angeles after the Rodney King riots 0:13:56.800 --> 0:14:03.120 of nineteen ninety two. Pristion Hope is leading the civil 0:14:03.320 --> 0:14:06.000 rights movement s I l V e R and now 0:14:06.040 --> 0:14:09.199 the Third Reconstruction in my opinion, along with other noteworthy 0:14:09.200 --> 0:14:12.000 and important organizations that are doing great work in this country. 0:14:12.000 --> 0:14:14.160 By the way, Bishop T. D. Jakes and his Good 0:14:14.160 --> 0:14:18.200 Soil Organization, there's so many more Van Jones and all 0:14:18.880 --> 0:14:22.360 the heroes and heroes Susan Taylor. There's so many people 0:14:22.400 --> 0:14:25.240 who are doing really important work. It's not just us 0:14:25.800 --> 0:14:29.480 but leading this helping to lead this important work at 0:14:29.480 --> 0:14:35.040 this important time that's platforming economic growth for this next 0:14:35.080 --> 0:14:38.920 generation for this country, because literally, this country cannot continue 0:14:38.960 --> 0:14:40.400 to be the leader of the free world without the 0:14:40.480 --> 0:14:43.040 least of these gods children joining the party. And this 0:14:43.080 --> 0:14:45.840 is an old story, by the way. In other words, 0:14:46.080 --> 0:14:48.840 the country has always had the bottom lift up from 0:14:49.440 --> 0:14:51.440 the bottom to the top. The latter has just broken 0:14:51.520 --> 0:14:53.520 now and we need to rebuild it for us. So 0:14:53.600 --> 0:14:56.640 Main Street needs the same resources as Wall Street, Okay, 0:14:57.320 --> 0:15:04.400 and so Operation Hope is this economic plumbing, this Walmart 0:15:04.480 --> 0:15:08.840 for financial literacy, this Starbuck of financial inclusions for the country. 0:15:09.040 --> 0:15:12.840 Fifteen hundred offices. It will be fifteen thousand by twenty thirty, 0:15:13.120 --> 0:15:16.480 but we currently have two day fifteen hundred offices and 0:15:16.560 --> 0:15:21.040 forty two plus states. We're opening an office on average 0:15:21.040 --> 0:15:25.920 every two weeks. Think about the major banks in this corporation. 0:15:26.960 --> 0:15:28.840 Most all of them are for our partners, and they're 0:15:28.840 --> 0:15:31.920 not doing one officer too. In the case of Truest Bank, 0:15:32.080 --> 0:15:35.000 they're doing eight hundred, almost half of all their branches. 0:15:35.120 --> 0:15:39.040 That's not charity. I don't want to get wrong in 0:15:39.040 --> 0:15:40.320 the number off the top of my head, but I 0:15:40.320 --> 0:15:43.240 think at this point we're well over fifty Bank of America, 0:15:43.800 --> 0:15:48.160 same thing, US Bank on board. I mean you name 0:15:48.240 --> 0:16:02.760 the institution, we have a relationship with them. Major corporations, 0:16:03.920 --> 0:16:07.080 we have relationships with them. The Fortune five hundred. This 0:16:07.120 --> 0:16:10.760 is not charities, major cities and the city, state, and 0:16:10.840 --> 0:16:15.400 federal government. I've known. I've worked with twelve US Secretaries 0:16:15.400 --> 0:16:18.080 of the Treasury. I've known nine US presidents. We've been 0:16:18.160 --> 0:16:21.600 recognized by five US presidents by both parties. I've been 0:16:21.640 --> 0:16:24.960 a credentialed advisor with the security clearance for three presidents 0:16:24.960 --> 0:16:30.240 from both parties. I've advised officially and unofficially President Clinton, 0:16:30.280 --> 0:16:35.560 President Bush, and President Obama. Been the chairman of the 0:16:35.560 --> 0:16:38.040 the US President's Advisory Council of Financial Literacy and the 0:16:38.080 --> 0:16:40.120 Chairman of the Committee on the Underserved. We've made it. 0:16:40.640 --> 0:16:43.840 We created federal policy for financial literacy for the federal government. 0:16:44.440 --> 0:16:49.000 Now we need tod that policy to include the people 0:16:49.160 --> 0:16:54.000 in communities. Hopefully this means legislation sometime soon that will 0:16:54.080 --> 0:16:57.000 be K through college at least K through twelve should 0:16:57.000 --> 0:16:59.400 be mandatory financial literacy, I believe is a civil rights 0:16:59.440 --> 0:17:02.640 issue this generation. We inspired the renaming of the building 0:17:02.640 --> 0:17:04.760 on the White House campus called the Freedman's Bank. No 0:17:04.920 --> 0:17:07.840 organization or individual has ever done that in the history 0:17:07.840 --> 0:17:10.600 of this country, all up from South central a and Compton, 0:17:10.680 --> 0:17:14.240 California to now the largest on the ground footprint for 0:17:14.320 --> 0:17:21.800 economic empowerment in this country. Fifteen hundred physical offices, three 0:17:21.880 --> 0:17:25.760 hundred offices that are manned by my employees, and then 0:17:25.760 --> 0:17:30.280 the rest are helped twelve hundred are through our partners 0:17:30.880 --> 0:17:33.520 who help us with their employees and with volunteers and 0:17:33.560 --> 0:17:36.880 through technology. So by the end of this episode, you'll 0:17:36.880 --> 0:17:39.879 know exactly how to download hope into your life, your business, 0:17:39.920 --> 0:17:45.040 your school, or your community. And we're not selling a dream, 0:17:45.640 --> 0:17:48.640 We're helping you build yours. So here are the tools 0:17:48.640 --> 0:17:53.760 and the shovels of your life. So for individuals and families, 0:17:53.800 --> 0:17:56.040 I'm literally going to break this down. So put out 0:17:56.040 --> 0:18:01.359 your pen, your pencil, your digital platform, your iPhone, notes, whatever, 0:18:01.440 --> 0:18:05.800 and let's get at this hope inside we have. This 0:18:05.840 --> 0:18:08.919 is where we have fifteen hundred offices. Hope inside of 0:18:08.920 --> 0:18:12.480 bank branches, hoping side, hoping side of churches, hoping side 0:18:12.800 --> 0:18:16.359 of grocery stores, hoping side of community centers, hoping side 0:18:16.359 --> 0:18:20.119 of government offices, hoping side of the fire department. I 0:18:20.119 --> 0:18:23.640 believe we're doing that in Atlanta, hoping side a police 0:18:23.640 --> 0:18:29.320 department hoping side. So these hope inside offices to make simple, 0:18:29.400 --> 0:18:32.600 make things really simple, are doing some straightforward things. They're 0:18:32.680 --> 0:18:35.200 raising your credit score fifty four points in six months, 0:18:35.880 --> 0:18:39.520 lowering your debt thirty eight hundred dollars, increasing your savings 0:18:39.560 --> 0:18:42.800 twelve hundred dollars between six and twelve months. If you're 0:18:42.800 --> 0:18:45.240 making forty eight thousand dollars a year, fifty thousand dollars 0:18:45.280 --> 0:18:47.720 in this example, this just changed your life and made 0:18:47.760 --> 0:18:51.159 you bankable. Did you get that point? All right? Just 0:18:51.200 --> 0:18:54.600 doing that transforms your life. So the bank can't tell 0:18:54.640 --> 0:18:56.480 you yes, you think the bank is racist. They just 0:18:56.560 --> 0:18:58.879 might think you're a credit risk. By the way, the 0:18:58.920 --> 0:19:01.479 bank who knows the banker might be racist. I don't know. 0:19:01.760 --> 0:19:03.199 All I know is if you go to that computer 0:19:03.240 --> 0:19:05.439 at midnight and you punch in your information, you have 0:19:05.480 --> 0:19:07.879 a seven to twenty credit score and you're asking for 0:19:07.920 --> 0:19:10.760 a sub one hundred thousand dollars credit line, mortgage line, 0:19:11.080 --> 0:19:14.320 credit card, whatever, the likelihood of that computer saying yes 0:19:14.320 --> 0:19:16.720 to you, irrespective of your color, your gender, or your 0:19:16.720 --> 0:19:21.240 geography is very very high, like above eighty percent. So 0:19:21.320 --> 0:19:24.080 the color is green, not black and white or red 0:19:24.119 --> 0:19:26.800 or blue, and we're going to help you to access 0:19:26.800 --> 0:19:30.359 some of that green by making yourself attractive a bank. 0:19:30.400 --> 0:19:32.560 There's a joke in banking. A banker will lend you 0:19:32.600 --> 0:19:35.200 money you prove you don't need it. It's a joke, 0:19:35.280 --> 0:19:38.680 but it's not far from it. In other words, it's 0:19:38.680 --> 0:19:41.399 about it's a joke that every banker recognizes because bankers 0:19:41.400 --> 0:19:43.240 are not in the risk business. They're in the risk 0:19:43.320 --> 0:19:47.119 mitigation business, the risk management business. And you need to 0:19:47.160 --> 0:19:50.960 show that you're managing risk your own and those you're 0:19:51.000 --> 0:19:54.439 associated with very well, so they can trust you with 0:19:55.080 --> 0:19:56.879 loaning you money because they have got to get it 0:19:56.920 --> 0:19:59.800 back because because most of their money is to positive 0:19:59.800 --> 0:20:04.000 mone me and if you fail, they fail. So the 0:20:04.119 --> 0:20:06.560 only benefit if they make you a loan and you 0:20:06.600 --> 0:20:10.000 pay it back and they and they cannot profit unless 0:20:10.000 --> 0:20:12.040 they're making loans. So anybody that says, well, the bank 0:20:12.160 --> 0:20:14.399 is just doesn't make loans. That's not right. That's not 0:20:14.440 --> 0:20:16.400 true that the bank wants to say yes, but they're 0:20:16.440 --> 0:20:19.880 forced to say no if your credit score stinks, if 0:20:19.880 --> 0:20:23.240 your debt to income ratio stinks, if your credit is 0:20:23.280 --> 0:20:25.240 tow up from the flow up. My daddy used to 0:20:25.280 --> 0:20:27.320 say he doesn't have credit. He had credit that his 0:20:27.440 --> 0:20:30.399 credit was bad, right, and no banker wanted to live 0:20:30.440 --> 0:20:31.959 and lend him money. It was a nice guy, ever, 0:20:32.000 --> 0:20:34.359 didn't matter. You go to church every Sunday and be 0:20:34.720 --> 0:20:37.240 the nicest person on the planet. If your credit is 0:20:37.280 --> 0:20:38.840 toe up and you have a five hundred credit score, 0:20:38.880 --> 0:20:42.200 they're not giving you a loan. It's not racist, it's 0:20:42.680 --> 0:20:46.600 it's just a smart credit decision. So my credit score 0:20:47.600 --> 0:20:49.920 used to be eight hundred. Now it's in the high 0:20:50.000 --> 0:20:52.520 seven hundreds. Because I'm an entrepreneur and I use my 0:20:52.640 --> 0:20:55.520 profile my platform to support operations ope with a lot 0:20:55.560 --> 0:20:58.040 of my ventures. So it moves around. But the anything 0:20:58.080 --> 0:21:02.520 above seven hundred is smooth. So we're going to help 0:21:02.560 --> 0:21:03.919 you get to a point where the bank can be 0:21:03.920 --> 0:21:06.240 in the yes business. Yes we want to make you 0:21:06.280 --> 0:21:09.119 a homeowner. Yes we want to make you provide your 0:21:09.119 --> 0:21:11.360 consumer credit card and so on and so forth, versus 0:21:11.600 --> 0:21:13.720 turning you down. So we got to turn the green 0:21:13.800 --> 0:21:18.040 lights on in underserved communities so that we can say yes. 0:21:18.080 --> 0:21:20.640 So I wrote the business plan for America. I wrote 0:21:21.400 --> 0:21:24.800 this tied dream forward. Doctor Kings the anniversary of his 0:21:24.880 --> 0:21:28.600 assassination a fifty seventh anniversary April fourth. I wrote a 0:21:28.640 --> 0:21:31.680 series of business plans. Business Plan for America, Everybody, business 0:21:31.720 --> 0:21:34.800 plan for Black America, a business plan for Rural America, 0:21:34.840 --> 0:21:38.000 a business plan for Women, a business plan for Latino Americas, 0:21:38.040 --> 0:21:40.359 a business fan for Asian America, the business plan for 0:21:41.280 --> 0:21:45.119 Native American Indians. I probably missed a group off the 0:21:45.160 --> 0:21:47.439 top of my head, but they're all online. Go to 0:21:47.480 --> 0:21:50.160 dream Forward. Everything i'm telling you right now is downloadable, 0:21:50.200 --> 0:21:54.560 searchable while while i'm talking to you. Go online and 0:21:54.720 --> 0:21:57.240 just type in dream Forward business Plan for America, our 0:21:57.320 --> 0:22:00.720 John o'pbrant business Plan for America, our Operation Hope dream Forward, 0:22:00.800 --> 0:22:04.439 any of these iterations, our John O'Briant business plan for 0:22:04.440 --> 0:22:07.280 Black America, or a business plan for women, business plan 0:22:07.320 --> 0:22:11.399 for Rural America which includes my poor white brothers and sisters. 0:22:11.440 --> 0:22:14.199 All of these will pull up these business plans. I 0:22:14.240 --> 0:22:15.879 want you to read them, I want you to print them. 0:22:15.880 --> 0:22:17.520 I want you to share them with everybody. This is 0:22:17.560 --> 0:22:20.439 open source. I'm not hiding anything from anybody, right and 0:22:20.520 --> 0:22:24.680 then I want you to tie those business plans into this. 0:22:25.480 --> 0:22:27.560 If you go to a Hope and Side location and 0:22:27.600 --> 0:22:30.000 you raise your credit score, and then everybody in your block, 0:22:30.080 --> 0:22:32.359 raise your credit score in your neighborhood of your family. 0:22:32.480 --> 0:22:34.760 Here's what you find out. If you hang around nine 0:22:34.760 --> 0:22:37.160 broke people, you're going to be the tenth. The opposite 0:22:37.200 --> 0:22:40.040 is also true. You hang around nine rich people, you're 0:22:40.119 --> 0:22:42.920 likely to be rich and wealthy too, at least rich. 0:22:43.080 --> 0:22:46.080 You hang around nine aspirational people, you tend to be aspirational. 0:22:46.600 --> 0:22:49.520 You model what you see. Let's change what we see 0:22:50.200 --> 0:22:52.159 and who we model on who we hang around. So 0:22:52.320 --> 0:22:54.959 if we infect everybody with an increased credit score, what 0:22:55.040 --> 0:22:58.000 we found is over twenty years time, if we do 0:22:58.080 --> 0:23:00.840 nothing in Black America, our net worth will be about 0:23:01.040 --> 0:23:07.280 zero by twenty fifty three. Okay, so that's a little 0:23:07.280 --> 0:23:10.399 bit more than than twenty years time, of course, but 0:23:10.520 --> 0:23:14.160