Americans will soon celebrate their nations’ Independence Day anniversary by pouring ice cold lemonade, grilling plant burgers, hamburgers and hots and the like. Many will seal the day’s festive activities by watching fireworks. It’s the nation’s biggest birthday party yet most don’t really know what it means.
Upon first, observation, one could say America celebrates the signing of the nation’s Constitution on July 4th 1776. Americans became free of British control. Que the men wearing knickers and tights playing flutes while marching happily along confetti filled streets.
But ask most people what the declaration of independence is about and few can tell you today. Most think it was designed to celebrates and welcome the newcomers to Ellis Island. It became a symbol of freedom for immigrants much later. What were Americans declared independent from and from who?
In truth, the 4th of July is the date American Brits were freed from white slavery in America. That’s right. Finally, white people can say they were the first slaves in America and it would be accurate.
It’s a sad chapter(s) no matter what people it is, but these historical facts should be known. America’s true history is too often “whitewashed” in America today. How will we know how far we’ve come, or perhaps where we need to be if we don’t know where we have truly been?
History of Debtors in America
It was king George II’s desire to purge England of the nation’s sloth. So he sent several of its imprisoned criminals and debtors (mostly Caucasian) to America to work off their debt to society by building the thirteen colonies as it was then called, “the new world” in servitude (a.k.a. indentured slaves).
Makes you look at the Statue of Liberty in a whole new way. Doesn't it? Afterall, it's a statue of a woman breaking out of shackles on her ankles while holding the Declaration of Independence in her left hand and a torch in her right hand.
French artist, Gustave Eiffel, called it "La Liberté éclairant le monde" - Liberty Enlightening the World. The Statue of Liberty, as we call it today, was a priceless gift dedicated to the American people on October 28, 1886 just 23 years after the Emancipation Proclamation was declared by Abraham Lincoln for people of color in the USA.
The statue depicted a woman with European features but made of copper. Yes, Lady Liberty was initially a shiny copper color. So I guess that "represents" all of us, black and white.
Gustave wanted to make the statue of fine gold. However, the American government couldn't afford it as they were just recovering from the civil war financially and in many other ways as well. So copper it was. Oxidation over time has caused it to appear green in color.
It was a deliberate meaningful congratulatory gift from the French. Those French are so classy.
There were serious implications if a person could not pay their debt in the 18th century Britain. And England’s debtor prison was filled to the brim.
We may gasp at the thought now, but many people are currently paying 20-30% interest on credit card debt in America at this writing. These are people with decent credit scores.
And these aren’t even payday loans! Can you imagine?
Get from Under the False Social Media and Celebrity Influence
Have celebrities and social media sold so many people on a way of life they cannot afford that they are willing to pay 20-30% more than the price tag? It is apparently so.
They used to call it “keeping up with the Joneses”. Now it’s keeping up with the social media influencer who often doesn’t even own the home, car, yacht, or jewelry they are flaunting. That includes celebrities. It’s mostly an expensive illusion.
Make financial freedom a family focused priority.
So on the heels of Juneteenth, whereby in June 1865 many African Americans discovered slavery in America ended for them two years prior on January 1, 1863 before they were notified, perhaps all Americans (black, white, and in between) can make a personal vow to make getting out of debt a family focused priority. That’s right. Make it a family commitment.
Hold each other accountable. Contact a community financial counselor. Consolidate that debt. Cut up high interest credit cards. Break the chains of debt. Don’t look back.
It’s a set up. Treat it that way, because it is. Treat credit card debt and all forms of personal debt like a gateway drug to somewhere you don’t want to be.
Debt is a form of slavery. Many people do desperate things when in debt.
We’ve learn so much from the P.Diddy trials and others like it. Make no mistake. These were desperate people. It’s a form of human trafficking.
There are a lot of people who would do almost anything to live in the good old USA. Many call America the “land of the free and the home of the brave”.
And that has been true for some. But it hasn’t been true for all. It can be.
Let’s remember how America became “great”. It was the free labor of its people of all races. And in many ways, it is still happening. But that’s another story for another day.
How do you get debt free?
1) Start by becoming financially literate.
Make financial literacy a family fun education event. Play popular board games like Monopoly and Ca$hflow (How to Get out of the Rat Race). Both games have multiple versions. They are fun and educational too.
2) Put your money to work.
Don’t settle for mediocre interest rates on a savings account. Find an FDIC insured high yield savings account online and make automated deposits every payday. Max out any 401k contributions especially if an employer will match the deposits. Invest in Index Funds in industries you already buy goods and services. Buy REITS (real estate index funds).
§ Automate Deposits into High Yield Savings Account Online
§ Max out 401k with Employer Matching if possible
§ Invest in Index Funds
§ Play Financial Literacy Board Games as a family or a couple.
So if anyone is thinking about using Ms. Visa, her cousin Mastercard or Mr. AMEX or the like to pay for a swanky 4th of July celebration, but cannot afford to pay off the entire bill within thirty days, think again. Freedom may be at stake. Happy Independence Day!
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LeTicia Lee is a former Wall Street Language Instructor, author and Producer of My Love is One Tell Them! Her book My Love is One 3rd Edition (Redemption and Hidden Reparations) is due Winter of 2025. Subscribe free for updates at MyLoveisOne.com