Bermuda is the third richest country in the world.
How has this small island of 67,837 people (54.8 percent of whom are of negro ancestry) managed to thrive whereas a whole continent of black people has failed?
Bermuda has virtually no agriculture, heavy industry, or natural resources such as gold, diamonds, or oil that could explain its material prosperity. Yet mysteriously, this 21 square mile North Atlantic island thrives off our own coast in spite of producing almost nothing of value.
The same is true of the Bahamas, the Cayman Islands, the British Virgin Islands, Trinidad and Tobago, Antigua and Barbuda, Barbados, and Curaçao. Collectively, the success of these black islands poses a challenge to the racialist theory that black people lack the capacity to maintain civilization.
Not really. It turns out there is a very simple explanation for this group of outliers:
“But for their international business employers, it is a different story. Many were either incorporated in Bermuda or have moved their corporate headquarters to Bermuda, for international tax reasons. Why? Because Bermuda levies no taxes on their world business activities. So far, Bermuda offers them far more in assets than in liabilities. It pays them to come here, for as long as Bermuda’s advantages as an offshore jurisdiction outweigh those of competing jurisdictions. It continues to do so for the international corporate entities, but not to their non-Bermudian employees for the reasons given above.”
The wealth of these black islands is explained not by a miraculous cultural success among black people, but by the international tourism industry, their small populations, and their role as offshore financial centers for multinational corporations. It is also a safe bet that a lot of the world’s illicit drug money is pumped through the banks in these black-run Caribbean islands.
The documentary “Poverty in Paradise” explores the world of the Black Undertow that is simmering just underneath the mirage of prosperity in Bermuda:
“It traces the roots of the island’s widening wealth gap back to the explosion of international business in the early 1990s and an influx of low-cost third world workers filling unskilled jobs. . . .
But it argues the “insurmountable” problem of sky-high rents traps some families in a life of poverty.
Some of the women get support from the Department of Financial Assistance. But they say it is not nearly enough to cover their bills, leaving them with stark choices.
Electricity or daycare? Groceries or rent? Health insurance or transport?
The debts rack up and some of the women have ended up in jail or lost custody of their children because of unpaid bills.
They say they are victimized by a system that is ineffective in collecting the debts they are owed by their children’s fathers.
One says: “My oldest, the father owes $78,000. The father of the youngest three owes $30,000 and I’m threatened to go to jail for $450? It’s not right.”
Drastic cuts to the welfare budget and grants for aid agencies threaten to make the problem worse.
Financial Assistance has seen demand balloon. Statistics quoted in the movie suggest the number of people receiving aid rose from 450 in 2004 to 1,600 in 2010.” . . .
“These are young people who were born in the early to mid-1990s. These were the first cohort to experience the huge gap between the cost of living and the wages at the lower end of the economic spectrum.”
The foreign money that has been pouring into Bermuda since the offshoring craze began in early 1990s is pushing up property values and rents and is gentrifying the island for wealthy foreigners at the expense of the Black Undertow.
Recently, there has been an explosion in violent crime in Bermuda and renewed calls for affirmative action to eliminate “income inequality”:
“WEDNESDAY, MAY 4: Bermuda’s crime wave and economic turmoil can be traced back to a failure to deal with economic disparity between the races.
Advocacy group CURB claims the recession and murder epidemic sweeping the island are disproportionately hurting the black community.
They believe it is time to revisit affirmative action legislation — like the Workforce Equity Act — to deal with the ongoing wealth gap between whites and blacks.
Inheritance tax, economic empowerment legislation for black-owned businesses and payroll tax and social insurance contributions linked to income should also be considered, the group suggests. . .
Racial inequality in Bermuda is starkly demonstrated in comparative levels of income, inherited wealth and incarceration rates throughout Bermuda.
Approximately 200 shootings in the past two years and 16 murders have exclusively involved the black community. And a new documentary — Poverty in Paradise — which premiered this weekend shows how the effects of the recession are adversely effecting single parent black families.”
Racial inequality hasn’t been vanquished in Bermuda. The same disparities that are found in the United States, Canada, and Britain are on display there too. As one might expect, the Black Undertow criminal element in Bermuda is responsible for virtually all the crime on the island.
The difference between Bermuda and the Cayman Islands and Haiti and Jamaica is due to the actions of foreigners who have found a useful niche for these islands as tax evasion and money laundering centers in the global economy.
It doesn’t hurt multinational corporations to skim a little money off the top of the global economy to subsidize a few thousand black people in exchange for the offshoring services Bermuda provides.
Note: Comparatively, the price of social peace in a city such as Atlanta is much more expensive.