Why does the 1% despise New Money: Old Money Myth

There is no doubt that from a western point of view the notion of entrepreneurship is very much attached to the United States of America. The roaring 20s and later the 80 in the United States have reinforced its entrepreneurial image. In times where anything is possible, is an overnight entrepreneurial success just make believe?

How close are we to that business life?

In the early 1630s, European Protestants -called Puritans- sought help and a land where they could be free to practice their religion. I'll let you guess where they went... haha

Yes, they did go to the land of the free but that land happened to belong to the Native American people technically.

A foundational value that the Puritans brought with them was the Christian work ethic.

"Let him who stole steal no longer, but rather let him labor, working with his hands what is good, that he may have something to give him who has need."

Ephesians 4:28

So they thrived financially socially and politically. It happened that most wealthy of them where white and Protestants despite a majoritarian Afro-American demographic in some southern States...Other, communities at that time were threats to the founding fathers. In order, to guarantee the dwelling of their riches, they took the notion to another level through by gathering it in a community of which these were the characteristics:

White European, Middle upper class, land owning theoretical Christians.

The WASP (the Old Money):

Wasp is a term referred first coined in the 1920’s by pastor and right-wing educator, Charles Lewis Fowler referring to the White Anglo-Saxon Protestants. According to white-supremacist groups such as the KKK, built the United States of America and aimed at the elite positions in all sectors.

The liberalist mindset the founding fathers possessed led them to success and eventually to the fear of losing their wealth and legacy. The fear of losing power.

It is important to understand that the concept of White Supremacy already existed beforehand but was enforced by the the communitarian advantages the settlers had (weapons, techniques, lifestyle and desire to prosper). Therefore, White-Supremacy was not only a matter of staying close on a continent that wasn’t their own, now it had become a matter of greed.

It is reoccurring thing, one might think, that the USA advocates for freedom, democracy and equality and completely forgets it when it comes to having power and positions in order to escape the great matrix.

Pause for a second and think about all the American billionaires of who's faces we have or have never seen, they influence billions of people while being either officially or unofficially involved in politics.

Huh... Uncanny, isn't it?

This example is even more palpable with the Senate or the House of Representatives. Elected politicians to whom the responsibility of representing the people was given, don't seem to come from backgrounds with the same issues the people have. In fact, most of them are white wealthy and educated men. Does the majority of the country feel represented? Do the politic figures themselves relate to the people enough to tackle issues with ease in the institutions they're places in?

Yeah, that stings! (no pun intended)

While it seems fairly easy to become a very wealthy person overnight in the USA, let's break the myth down into a few part! Let's Go!

Well-Spoken, Well-Taught

When looking up politicians, business people, economists and politicians on the net, often you'll find out that they've studied in multiple Ivy Leagues. Needless to say that most of them come from well established families with an ongoing generational wealth. Ivy Leagues, though slowly showing signs of inclusiveness, are almost exclusively made for the same demographic. Hence the selection of students partially made through budgetary constraints. Think about it, New York's Columbia University tuition is up to $44,000 per year for households of which the annual revenue is higher than $100,000 and on average $23,000 with aids.

What these universities do not tell you however, is how 15% of student's presence in Ivy League colleges is due to an unspoken hereditary privilege: Legacy Preference!

In other words, colleges demonstrate generational loyalty to descendants of alumni. And that's called nepotism.

Such a nice message right guys? You don't need the brains now you need the right blood flowing through your veins.

College Dropout Heroes

Many times we're let under the impression that the ideal careers in life -in this case being your own boss- are easily accessible and that studies are useless to become someone.

And yes, Mark Zuckerberg, Bill Gates and Michael Dell dropped out of college but they obviously can afford to do so thanks to the money cushion they had. Jeff Bezos' parent's loaned him $300,000 for Amazon to launch. Turns out it was the best investment they ever made!

What is our current era bourgeoisie?

According to the Cambridge Dictionary "new money" is a term referring to: "money owned by rich people who have not always been rich, or the people themselves".

Who?

Exactly! Celebrities! Seventy years ago or today, history has provided us with bundle of self-made celebrities who Degrassied their way out of poverty to become famous and wealthy; by working hard and connecting with the right people at the right moment.

Once again the work ethic and meritocracy are present but why is the new money so despised?

The truth is when in it come to the 1% we can't always really know what they think. However we know one thing, they need the bourgeoisie to convey messages and influence people for them and do the dirty work for them. Indeed, contrarily to the old money of who's money hasn't flown for decades have the tendency to...:

- expose their life a lot (shout out to Kris Jenner, she finessed everyone)

- openly convey political messages with no fear (Billie Eilish)

- Live their "best lives" like the French say, but in an unhinged way (sex, drugs, alcohol, illum... well... the list goes on)

-look like they get money for nothing

... which somehow makes them look unintellectual, needy despite the wealth they've acquired and "filthy". And no chic madame or monsieur would ever want to be associated to filth! They have a reputation to keep!

If these millionaires or recent billionaires have 99 problems and money isn't one, how filthy bad could the life of multi-billionaire be? Billionaires are ALWAYS involved directly or indirectly with assassination, corruption, human trafficking and more... as if it weren't enough already.

According to Le Monde, an estimate of 6,500 people have perished to build the stadium that hosted the 2022 FIFA in Qatar. A month later Qatar was accused anew of coercing the European Parliament's greek vice president, Eva Kaili with 600,000 euros for a better reputation. Who's "filthy rich" now?

Ultimately it is understandable that money even among the richest, creates casts and deeper in that sphere, greed fuels competition. Money.

And you? How rich do you want to be?

That's a wrap for today :) see you soon

xoxo