Two-time Emmy and Three-time NAACP Image Award-winning television Executive Producer Rushion McDonald interviewed Dr. George C. Fraser.
In this two-part special, the “Money” in the “Money Making Conversations Master Class” title is emphasized as Business Leader Dr. George C. Fraser and Wealth Coach Ash Cash Exantus educate the audience on financial literacy.
In Part 1, Dr. George C. Fraser explains how important it is to use his skills to educate the African American community on building generational wealth in the 21st century. He considers this matter his “top priority,” especially considering the stigma that the average African American person has against learning new kinds of wealth management programs. With his technical knowledge, he also demystifies the digital currency known as cryptocurrency and expounds on the importance of investing in wealth-building programs that have a large-scale return on investment.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
If you're about to make a change in your life
and you feel uncomfortable, that's the best feeling you can
have because for the first time in your life, you'll
make a new decision that's going to be best for
you and not what somebody told you to do. And
that's when all bets are off. Welcome to Money Making
Conversation Masterclass. I'm your host, Rashaan MacDonald. Our theme is
(00:22):
there's no perfect time to start following your dreams. I
recognize that we all have different definitions of success. For
you and maybe the side of your h it's time
to stop reading other people's success stories to start living
your own keep winning. My next guess is truly an
industry decision maker. He's doctor George C. Fraser. He's the
(00:46):
chairman and CEO of Fraser Net, a company he founded
over thirty years ago. Doctor George C. Fraser is a
renowned networking guru, business leader, author and entrepreneur who's regardless
one of the whoemost respected authority on entrepreneurship and building
generational wealth, a key generational wealth and economic empowerment for
(01:06):
the Black community. Frash of that vision is to lead
a global networking movement that brings together diverse human resources
to increase opportunities for people of African descent. Please welcome
again one of my great friends, I look one of
my mentors. Please welcome to the Money Making Conversation, Doctor
George Fraser.
Speaker 2 (01:25):
How you join Richon? Good to hear your voice. Good
to be back with you.
Speaker 1 (01:28):
Well, you know, whenever I bring you all, I kind
of like bring my pencil because I learned when I
get doctor George Fraser on the show.
Speaker 2 (01:35):
Amen, Well I learned when I listen to you too.
You know you learn, you learn when you listen as well.
Speaker 1 (01:40):
Well, you know that the beauty of it. I know
your conference zone was leave last month. And but we
always talked about generational wealth. We always talked about black
people always getting secondhand information. Black people are minorities and period,
especially people of African descent, not understanding the pathway to success.
And there are a lot of pathways. And I brought you
(02:01):
on the show. It's a live show I now do
on WCLK every Tuesday. I wanted to reach more people,
especially people in the Latin market, and that's one of
the reasons I wanted to bring you own the show
to discuss some of your views and also if we
have time, take some questions and some phone calls. Our
phone number is four zero four eight eight zero nine
two five five. That's four zero four eight eight zero
(02:23):
ninety two five five, Doctor George C. Fraser talk about
the importance of building a solid foundation and financial legacy,
and that's your that is your legacy.
Speaker 2 (02:33):
Oh yeah, man, that's one of my favorite subjects. And
I love you for covering it, and I love being
on your show because you're you're an expert, and you
reach so many people, and you're so knowledgeable about a
lot of things, and you have a tremendous amount of
energy and passion. So let me just say it as
I said it to you once before and to your audience.
(02:55):
To be black and beautiful in this world means nothing
unless you're black and powerful, whiteful, planning for three generations.
And we're planning for Saturday night. So the goal is
to win, not to look like we're winning.
Speaker 3 (03:06):
Right.
Speaker 2 (03:07):
I would rather carry a plastic bag with five thousand
dollars in it than to carry a five thousand dollars
Louis Vton' bag with one hundred dollars in it. It's
interesting to Meaver sean the rich day rich by pretending
to be poor, and the poor stay poor by pretending
to be rich. And if we do not change our activities,
if we do not change our understanding of capitalism and
(03:29):
investment in the twenty first century, we are headed into
a second slavery right, and we have to fix this.
It was the great doctor Amos Wilson, you can see
his videos on YouTube, who said, our refusal as black
people to confront the issue of money and wealth is
going to end up with our very lives being threatened
(03:51):
as people on this earth. So we have to get
our act together, and we have to become financially educated.
Speaker 1 (04:00):
When you say financial educated, what do.
Speaker 2 (04:01):
You mean When I say financial education, I mean learning
the rules and the game of capitalism. It is educating
ourselves around all of the elements that drive capitalism and
how we can leverage those opportunities and build assets beyond
(04:28):
the very conservative ways that we have built assets over
the last two generations. And what I'm suggesting is that
we really need to look in the latest opportunity of cryptocurrency.
Speaker 1 (04:45):
Because cryptocurrency is something that I hear a lot. I'm
going to I know nothing about from a standpoint of
how I can participate because it feels very foreign to me,
and it feels like it's not a valid currency because
I'm so used to putting my money in the bank,
I'm so used to sing to the stock market. I'm
so basically buying a home or buying a car. When
(05:06):
I hear word cryptocurrency, what what is blocking me? What
information am I missing that I'm not participating in? Doctor Fraser?
Speaker 2 (05:14):
Well, I think the first question that we have to
ask ourselves so that we will we will be motivated
to take an interest in to take a deep dive
into study what this whole cryptocurrency movement is about. Is
we've got to ask why crypto? Right? Why crypto and
not you know, savings accounts, five us CDs, mutual funds
for one case, and stock market as the s and
(05:37):
P five hundred market, real estate and goal Right, those
are the things that we understand. Those are the things
are hard and paper assets, and those are the things
that we're comfortable with. But they're not going to allow
us to get economic equity. And what I mean by
economic equity, uh, the rates in which those assets pay
(05:59):
us are not allow us to close the income and
wealth gap between black folk and white folk. Right, white
folk have ten times the household median wealth as black people.
So we've got to do some things that will help
us close this gap, and we've got to think outside
of the box. Yes, we're going to have to take
(06:20):
some risks, there's no question about that. But no risk,
no reward. We have got to find ways, Rashaan to
leverage and compound the stacked and assets that we have.
These assets are stagnant. There the small percentage of interest
that we're making on Let's say, let's look at some
(06:41):
interest rates on some of the traditional investments that black
folks have made historically, including myself savings accounts. All right,
they're very, very safe, but the annual interest rate on
a savings account is a half a percent. That's not
even keeping up with inflation. So a half a percent
annually on your money. I just got a document from
(07:03):
a good friend who had eighty nine thousand dollars in
Wells Fargo in his savings account, and he wanted me
to see it because I was talking about it, and
he showed me his December to twenty twenty statement of
this interest he ranked he earned on eighty nine thousand dollars.
I'm looking at him. He earned seventy six cents on
(07:25):
eighty nine thousand dollars in a year from Wells Fargo.
You know how much Wells Fargo made on his eighty
nine thousand dollars, and he only made seventy six cents. Now,
it's safe, there's no question about that. The FDIC protects
you in case the bank goes down, but it's going
(07:46):
to take you thirty years to get your money back.
That's on average, what it takes if if a bank
fails you and you're protected by FDIIC. But most importantly,
you're only you're only earning less than a half a
percent a year on your heart money. The principle is
to put your money to work harder for you than
you did for it. Take a five year CD. A
(08:07):
five year CD certificate of depositive only pays one third
of a penny, right, one third zero point three one
percent annually. Right, that's less than a savings account. A
mutual fund pays you about ten to fourteen percent annually
(08:28):
on average, four one K about ten to eleven percent annually.
The stock market about nine point two percent annually. The
s and P five hundred market if you're if you're
investing in the best stocks, is about thirteen point six
percent annually. Real estate pays ten to eleven percent annually,
(08:51):
and goals, if you invest in goal, is about ten
point six percent annually. So let me tell you what
I've done with crypto and just nine months. I started
in the crypto space after studying it for a year,
and I started by entering one opportunity, one platform after
studying that platform. All right, so I started my crypto
(09:15):
journey nine months ago. This is the truth. I could
show it to you, I could verify. I started with
about ten thousand dollars in cash. Where did I take it?
I took it from my savings account, which was paying
me a little or nothing. Yeah, yeah, absolutely, not less
than five percent, less than a half a percent.
Speaker 1 (09:38):
Apologize, I'm giving it too much.
Speaker 2 (09:39):
Credit, less than a half of this tent right. So
I started with ten thousand dollars cash, which I took
for my savings account, which would pay me less than
a half a percent, of which I had sixty thousand
dollars in because we were always taught to say for
a rainy day, right, So that was my rainy day money.
I took ten thousand dollars cash out of that. In
(10:01):
January of this year, I invested in a crypto platform
called for Sage, which was really an ethereum.
Speaker 3 (10:12):
Uh.
Speaker 2 (10:13):
You know, there's ethereum, there's bitcoin. Bitcoin is the is
the number one cryptocurrency, and Ethereum is the number two cryptocurrency.
Bitcoin is at about forty six thousand dollars a coin,
and Ethereum today is about thirty four thousand dollars a coin.
But when I invested in it, let's see nine months ago. No,
(10:38):
it's actually a little bit more than that, is about
twelve months ago. But a year ago, Ethereum was one
hundred and ninety seven dollars a coin.
Speaker 1 (10:46):
Today, okay, okay, okay, got doctor, you're about to get
me mad now now you just say it. It's thirty
four thousand dollars a coin, and you invested when it
was one hundred dollars a coin, right, that's what you
just said.
Speaker 2 (11:00):
On ethereum. Ethereum is thirty four hundred dollars a coin.
I invested in it about a year ago when it
was one hundred and ninety seven dollars a coin, and
My investment today is worth eighty seven thousand dollars cash money.
Then I invested in my second platform, this is no
(11:20):
PS for Sean and it was called cash. It was
called CFX All Cash FX. That was an investment in
the foreign exchange market. You get in with bitcoin and
you get paid in bitcoin. I invested seven thousand dollars
in CFX. Today, my seven thousand dollars is worth ninety
(11:41):
six thousand dollars. My third investment was in hyperfund, which
is investment in the crypto ecosystem, and that investment I
invested about five thousand dollars. That investment is worth fifty
thousand dollars. Right. So when you look at the money
(12:03):
that I invested about ten thousand dollars right right, I
have earned two hundred and thirty six thousand dollars or
a twenty four hundred percent return on my investment in
less than a year.
Speaker 1 (12:19):
And that's on the market that I said earlier that
I have refused to sit down to learn about. And
that's what so many African Americans are, people of color
or minoritists are refusing to educate themselves. And that's why
I really started this show because I wanted to start.
I want to engage more people, doctor Fraser, because my
fear shouldn't be your fear. If you want to call
and make a comment, please do. I'm presently talking to
(12:39):
doctor Georgey Fraser. He is a chairman and CEO of
Fraser Net Inc. The company founded over thirty years ago.
The person I met twenty years ago when I was
with Steve Harvey. That's how long I've known this brother,
and he's a great brother. He's providing information on because
we want to hear you on the phone, or we
want to hear some more from doctor Georgey Fraser.
Speaker 4 (12:59):
Please tell me anywhere. We'll be right back with more
money Making Conversations Masterclass. Welcome back to the money Making
Conversations Masterclass hosted by Rashan McDonald. Money Making Conversations Masterclass
continues online at Moneymakingconversations dot com and follow money Making
(13:20):
Conversations Masterclass on Facebook, Twitter and Instagram.
Speaker 1 (13:24):
Welcome back to money Making Conversation. I am your host,
Rashan McDonald. Money Making Conversations a platform are created to
supply everybody with information, not just a few people. The
problem with this world, especially in the minority community, is
that information is kind of like precious. You know, a
few people get in and don't want to share. And
what I've been doing for the longest, since i started
(13:44):
money making conversation at twenty seventeen, is to bring individuals on.
I have ash cash he's own. After this break, he's
going to be on the show in studio talking about
motivating people to success. But I felt there was no
one that could do it better. That started today with
doctor GEORGEI. Fraser, because that's a certain honest about him. Plus,
you know, he's been through decades. You know, you want
somebody to have been through a lot of decades. He's
(14:06):
been through the Civil Rights decade. He had been through
the big Afro decades.
Speaker 2 (14:10):
He hadn't been through you know, seventy seven, absolutely decades.
Something made a lot of mistakes. I failed my way
to success. But I was curious, right I was, And
that's the key. And you've got to be intellectually curious.
You got to do their study, take the deep dive
so that you could do some critical thinking and then,
as Bernie Mac would say, bust the damn move, do
(14:32):
something different. You know, an.
Speaker 1 (14:34):
Interesting thing about that doctor Georgey Fraser, is that we
know what I listened listen to you. First of all,
people are always worried about their age, and I always
say that at the top of my show because I
really didn't find out who I was until I was
in my forties. Accept the responsibility of what I could accomplish,
you know, because a lot of people waiting for this
magic or they hit fifty to just stop, and they
(14:54):
hit sixty and they think the government is going to
take care of them with something in retirement. And we
all know that's a lot that's worse than they. And
so the reason I've always looked at you because you
remain topical and it's not like you're trying to be young,
just like I'm not trying to be young. But the
information you always gave my audience and me was so relevant.
(15:15):
What what guides you down that line of being saying
you know some I'm just I'm just a sponge, but
I'm not going to act like I know more, but
I want to share more, talk about you for a
little bit true.
Speaker 2 (15:26):
Yeah, you know. My goal is to give back the
knowledge that the Creator has allowed me to learn, that
he has poured into me, that I have learned, and
my moral responsibility and spiritual responsibility is to give it
(15:46):
back because that is the purpose of life. Rashon the
purpose of life is very simple. God doesn't make anything complicated.
We make things complicated. We make things complicated so we
don't have to do it. The more complicated we make it,
the more reasons we have doing it. And we make
things complicated to control power. If I am the only
one that knows a certain thing, and I have power
(16:08):
over you. So my job is to keep it simple
and to share it. That is the reason God has
given me more and more and information, because the more
He gives me, the more I share, and that is
congruent with the purpose of life. The purpose of life
is very simple. It is to love, to give, to serve,
and to add the highest value to somebody or something
(16:30):
every single minute of every single day. That is why
we are living. There is no other reason for you
to be sucking up this good air. It's loving, serving
and adding value. So I want to add value. I
want to get to heaven right, and I'm going to
get to heaven by giving away. When I say this,
metaphorically giving away that which I have been giving, so
that it can be leveraged, right, and more of our
(16:53):
people can benefit from the assets and the knowledge and
the successes that I have achieved. That's really what it's
all about. That's really Let me give you a metaphor.
It's called teamwork. Okay, let me give you a metaphor.
This is and it's a true story. I'm gonna ask
you a question, simple question. Who holds the world record
(17:17):
for one hundred meters? Who holds the world record for
one hundred meters? The answer to that is Usain Bolt
from Jamaica, right right. He did it at nine point
five eight seconds. He holds the world record four hundred
meters at nine point five eight seconds. Now, the next
(17:40):
question is who owns the four by one hundred relay
world record? Who holds that? It is the Jamaican track team,
the men's Jamaican track team, of which usein Bolt runs on.
They finished the four by one hundred in thirty six
point eight four seconds. Now, if you do your math,
(18:07):
that's nine point two one seconds or thirty one seconds
faster than the world record. And Hussein Boat was on
that relay team and they ran four one hundred meters
faster than he ran a single one hundred meters. So
what does that mean? That means when we work together,
(18:27):
when we collaborate, when we share, when we run share,
when we run together, none of us is as good
as all of us put together. So we've got to
run together. We've got to run as one. That means
we have to share. If I have good knowledge and
good information, right, I will share it with you. If
you want to do something I'm doing, I make it
(18:47):
easy for you to do that.
Speaker 1 (18:49):
Cool.
Speaker 2 (18:49):
That's the phrasier.
Speaker 1 (18:51):
We have a call here, or like I said, Warren
from Atlanta, he has he called and answer a question
on money made conversation. Warren, how are you doing that?
Speaker 2 (18:58):
I'm good?
Speaker 1 (18:59):
How are you, doctor George? See Fraser on the call here?
What was your question? My friend? Thank you for calling
in on money making Conversation on WCLK.
Speaker 3 (19:07):
Sure, doctor Fraser, how are you deceivening?
Speaker 2 (19:10):
I'm doing wonderful.
Speaker 3 (19:10):
Thank you good. With thirty years of experience with entrepreneurship
among the black community, how would you prioritize the cryptocurrency
you mentioned among the other opportunities that exist for entrepreneurs
to do well in the community. We have an absence
(19:31):
of media, We have food, deserts and the like. How
would you rank cryptocurrency.
Speaker 2 (19:40):
Well, I think the number one thing that Black folks
have to focus on in the twenty first century is
building wealth that will come through financial literacy and financial education.
What's the first thing slaves did when they became free.
They start building small schools or classrooms in small schools,
the largest schools and the more than one hundred years, we
(20:00):
had an entire system of historically black colleges and university.
So education, education, that's the number one priority. Is financial
education that will lead to building wealth and closing the
income and wealth gap and then ultimately creating working jobs
for our people, as hopefully we will become the number
(20:21):
one employer of our own people by the end of
the twenty first century, which means that we end also
have to engage in business building. So if I was
to categorize under the headline of financial education and economic development,
under the headline which is number one, that's the number
(20:45):
one thing under that headline would be business building, business building,
and then number two would be taking advantage of the
newest economic opportunity for closing the income and wealth gap,
(21:08):
and that is cryptocurrency. That's the number one of the
area of interest that we need to be fold if
we really really want to close this gap cryptocurrency.
Speaker 1 (21:24):
When you say that, doctor Fraser, that also means you
have to lend yourself to education. And uh that's and
also and walk into the valley of the unknown, because,
like you said earlier, my whole thing about the show,
and I'm glad people are calling in. If we've got
enough number of calls, we want to talk to you
today on the show. And thank you for calling again
coming in on my show today to discuss this, Doctor
Georgeie Frasier.
Speaker 2 (21:44):
Is that all right?
Speaker 1 (21:45):
Thank you, Thank you my friend, Thank you Warren for
calling in, and call back next week. We have more
important people on the show that's going to lead you
to areas that are going to give you information to
win with. It's by money making conversations. But what I
want to say about cryptocurrency, what I like to always
tell people about I have flaws and what I won't
do no matter what house you see I live in,
or what you see me post on social media, what
(22:06):
car you see me drive. That doesn't just mean a
perfect person that's driving that vehicle. It's a person who
has fear as a person who has doubts about himself,
but he overcome that because of the fact I have
relationship and mentors and people who are conturned to for advice.
This show is like your advice show. You call in,
we give you advice. You go do your research. Please
do not hold us accountable if you don't do your research.
(22:28):
And even if you do your research, don't hold us
accountable because you have them. In other words, could be
a lady or man. Listen to me, Man up. I'm
just using a general statement about your life. If you
want to stay play it safe and keep your money
in saving, keep it there, keep it there. But don't
be mad if your friend does not play it safe
(22:49):
and they invest a little bit of money like he is,
say one hundred thousand dollars. He didn say a million dollars.
Speaker 3 (22:54):
He said.
Speaker 1 (22:54):
He broke it up ten thousand dollars in three different ways,
and he came back a happy man. Now I'm mad
at him because he didn't tail me. That's all I
say about the job. He didn't tell me because he
got my number. He got my number everybody, but he
didn't tell me though.
Speaker 2 (23:08):
All Right, So I'm gonna I'm gonna put this out.
I love what. I love you for saying that. I
love you for saying that because because it makes a
very very very important point. We cannot not do something
because either we fear it, or we're operating out of
a scarcity mentality or fear mentality, or we don't know.
(23:31):
There are brothers and sisters that do know. So I
have five hundred people in my network who were interested
in crypto, and we bring in the experts. We try
to understand what are the best, blessed best platforms to
invest in. So, because you don't know, or the people
in your audience may not know, if they got in
(23:54):
touch with me, I do know, and I can prove
that I know, and then I could help it along
with my team raw experts in this space help you
make the right and the safest investment. Doesn't mean that
it still isn't risk. Of course, it's all risk. Everything
is risking you invest in the stock market is all risk.
Speaker 1 (24:16):
A question about it, Hey, doctor George, I want to
get in one more call before we go to break
rodrigaz in Atlanta has another crypto currency. Like I said,
you don't fire today, you don't fire today. I love it.
I love it, Rodriguez. This is Rashan McDonald speaking to you,
and on the call is also doctor GEORGEI Fraser. What's
your question?
Speaker 3 (24:37):
Hello?
Speaker 1 (24:37):
Are you still there? What's the next question? We at okay,
turnbot and decata. You had a question about an investment
turnbull turnbile? Is it turnbull or turnbou turn turnbo? Okay?
Thank you for calling money Making Conversation. What is your
question that you want to ask on Money Making Conversation today?
Speaker 5 (24:58):
My question is what about We're talked about cryptocurrency and
it sounds really good, but what about for those folks
who don't have, you know, a large amount of money
to invest in cryptocurrencies or something like that? Is there
another level below that where we can start to get
(25:21):
in and see some uh some good returns on?
Speaker 2 (25:26):
Yes, of course there is. You could start with as
little as three hundred dollars. I started with ten thousand
dollars because ten thousand dollars is like three hundred dollars
to me, so if I lost it tomorrow, it wouldn't
make one damn bit of difference in my life. You
could start with three hundred.
Speaker 1 (25:43):
Dollars, absolutely, you know the beauty of what I would
would you just say it is people tend to put
value on what I can start. You know, don't look
at imagine if you if you need to be starting
in an apartment. Now I would tell people, you know,
if you make one hundred thousand dollars, you're not going
to live a lifestyllar a ten times dollars person, because
I wish I could still keep buying the same two pays,
(26:04):
keep buying the same because you don't elevate your game.
That's all he said. If he had three hundred dollars,
he would invest it, but he got ten thousand dollars.
So you took it the wrong way. You took it
like he had a lot of money and you had
a lot of money to participate. This is money making conversation.
We're just breaking it down to everybody who's listening. Listen
to me right now. You can be part of the
big dream, but you have to stop shutting yourself down
(26:28):
and hearing what you want to hear. And that's when
I go back to the point. Education and what stops
people for investing in themselves or in the stock. They
are fearful. You can buy five dollar stock you can
buy penny stock, you can buy anything you want. But
what you do is you look. You look on TV
and you see, you know, you see the Amazon CEO,
(26:50):
billion dollar man. You see the guy going to space.
You know, all of a sudden you say, I can
never go to space because I can't afford one hundred
and twenty five thousand space. C Well, you want supposed
to be trying to get in that seat. What you
were supposed to be doing is looking at how he
got there. Do your research so you can get there.
And that's what this show is about getting you there.
And that's why I brought doctor Georgie Fraser. I got
(27:11):
my man, asked cast. He's in banking, so understand that
this conversation about money making conversation. Now, if you want
to be part of the money making conversation, call me
right now. Four zero four eight A zero nine two
five five. I gotta let my man go right now,
but he gonna come back because right now he brought fire.
He brought fire to money making conversation, Doctor Georgy Fras.
(27:31):
I want to thank you, brother for coming on my show.
Speaker 2 (27:33):
Love you, love you.
Speaker 1 (27:34):
You call You're not gonna call you you're not gonna
call you, please, Crypto Currency King right here, Crypto Characy King.
We'll be right back to Money Making Conversations. Thank you, brother,
doctor George. He phrase will be right back from my
man Ass cast right here in Atlanta. He brought me
on his TV show, on his podcast. Now that I
got him on my Money Making Conversation Live Big Tuesdays.
Speaker 2 (27:56):
Be right back.
Speaker 4 (28:00):
Thank you for joining us for this edition of Money
Making Conversations Masterclass. Money Making Conversations Masterclass with rough Shan
McDonald is produced by thirty eight fifteen Media Inc. More
information about thirty eight to fifteen Media Inc. Is available
at thirty eight fifteen media dot com. And always remember
to lead with your gifts
If you're about to make a change in your life
and you feel uncomfortable, that's the best feeling you can
have because for the first time in your life, you'll
make a new decision that's going to be best for
you and not what somebody told you to do. And
that's when all bets are off. Welcome to Money Making
Conversation Masterclass. I'm your host, Rashaan MacDonald. Our theme is
(00:22):
there's no perfect time to start following your dreams. I
recognize that we all have different definitions of success. For
you and maybe the side of your h it's time
to stop reading other people's success stories to start living
your own keep winning. My next guess is truly an
industry decision maker. He's doctor George C. Fraser. He's the
(00:46):
chairman and CEO of Fraser Net, a company he founded
over thirty years ago. Doctor George C. Fraser is a
renowned networking guru, business leader, author and entrepreneur who's regardless
one of the whoemost respected authority on entrepreneurship and building
generational wealth, a key generational wealth and economic empowerment for
(01:06):
the Black community. Frash of that vision is to lead
a global networking movement that brings together diverse human resources
to increase opportunities for people of African descent. Please welcome
again one of my great friends, I look one of
my mentors. Please welcome to the Money Making Conversation, Doctor
George Fraser.
Speaker 2 (01:25):
How you join Richon? Good to hear your voice. Good
to be back with you.
Speaker 1 (01:28):
Well, you know, whenever I bring you all, I kind
of like bring my pencil because I learned when I
get doctor George Fraser on the show.
Speaker 2 (01:35):
Amen, Well I learned when I listen to you too.
You know you learn, you learn when you listen as well.
Speaker 1 (01:40):
Well, you know that the beauty of it. I know
your conference zone was leave last month. And but we
always talked about generational wealth. We always talked about black
people always getting secondhand information. Black people are minorities and period,
especially people of African descent, not understanding the pathway to success.
And there are a lot of pathways. And I brought you
(02:01):
on the show. It's a live show I now do
on WCLK every Tuesday. I wanted to reach more people,
especially people in the Latin market, and that's one of
the reasons I wanted to bring you own the show
to discuss some of your views and also if we
have time, take some questions and some phone calls. Our
phone number is four zero four eight eight zero nine
two five five. That's four zero four eight eight zero
(02:23):
ninety two five five, Doctor George C. Fraser talk about
the importance of building a solid foundation and financial legacy,
and that's your that is your legacy.
Speaker 2 (02:33):
Oh yeah, man, that's one of my favorite subjects. And
I love you for covering it, and I love being
on your show because you're you're an expert, and you
reach so many people, and you're so knowledgeable about a
lot of things, and you have a tremendous amount of
energy and passion. So let me just say it as
I said it to you once before and to your audience.
(02:55):
To be black and beautiful in this world means nothing
unless you're black and powerful, whiteful, planning for three generations.
And we're planning for Saturday night. So the goal is
to win, not to look like we're winning.
Speaker 3 (03:06):
Right.
Speaker 2 (03:07):
I would rather carry a plastic bag with five thousand
dollars in it than to carry a five thousand dollars
Louis Vton' bag with one hundred dollars in it. It's
interesting to Meaver sean the rich day rich by pretending
to be poor, and the poor stay poor by pretending
to be rich. And if we do not change our activities,
if we do not change our understanding of capitalism and
(03:29):
investment in the twenty first century, we are headed into
a second slavery right, and we have to fix this.
It was the great doctor Amos Wilson, you can see
his videos on YouTube, who said, our refusal as black
people to confront the issue of money and wealth is
going to end up with our very lives being threatened
(03:51):
as people on this earth. So we have to get
our act together, and we have to become financially educated.
Speaker 1 (04:00):
When you say financial educated, what do.
Speaker 2 (04:01):
You mean When I say financial education, I mean learning
the rules and the game of capitalism. It is educating
ourselves around all of the elements that drive capitalism and
how we can leverage those opportunities and build assets beyond
(04:28):
the very conservative ways that we have built assets over
the last two generations. And what I'm suggesting is that
we really need to look in the latest opportunity of cryptocurrency.
Speaker 1 (04:45):
Because cryptocurrency is something that I hear a lot. I'm
going to I know nothing about from a standpoint of
how I can participate because it feels very foreign to me,
and it feels like it's not a valid currency because
I'm so used to putting my money in the bank,
I'm so used to sing to the stock market. I'm
so basically buying a home or buying a car. When
(05:06):
I hear word cryptocurrency, what what is blocking me? What
information am I missing that I'm not participating in? Doctor Fraser?
Speaker 2 (05:14):
Well, I think the first question that we have to
ask ourselves so that we will we will be motivated
to take an interest in to take a deep dive
into study what this whole cryptocurrency movement is about. Is
we've got to ask why crypto? Right? Why crypto and
not you know, savings accounts, five us CDs, mutual funds
for one case, and stock market as the s and
(05:37):
P five hundred market, real estate and goal Right, those
are the things that we understand. Those are the things
are hard and paper assets, and those are the things
that we're comfortable with. But they're not going to allow
us to get economic equity. And what I mean by
economic equity, uh, the rates in which those assets pay
(05:59):
us are not allow us to close the income and
wealth gap between black folk and white folk. Right, white
folk have ten times the household median wealth as black people.
So we've got to do some things that will help
us close this gap, and we've got to think outside
of the box. Yes, we're going to have to take
(06:20):
some risks, there's no question about that. But no risk,
no reward. We have got to find ways, Rashaan to
leverage and compound the stacked and assets that we have.
These assets are stagnant. There the small percentage of interest
that we're making on Let's say, let's look at some
(06:41):
interest rates on some of the traditional investments that black
folks have made historically, including myself savings accounts. All right,
they're very, very safe, but the annual interest rate on
a savings account is a half a percent. That's not
even keeping up with inflation. So a half a percent
annually on your money. I just got a document from
(07:03):
a good friend who had eighty nine thousand dollars in
Wells Fargo in his savings account, and he wanted me
to see it because I was talking about it, and
he showed me his December to twenty twenty statement of
this interest he ranked he earned on eighty nine thousand dollars.
I'm looking at him. He earned seventy six cents on
(07:25):
eighty nine thousand dollars in a year from Wells Fargo.
You know how much Wells Fargo made on his eighty
nine thousand dollars, and he only made seventy six cents. Now,
it's safe, there's no question about that. The FDIC protects
you in case the bank goes down, but it's going
(07:46):
to take you thirty years to get your money back.
That's on average, what it takes if if a bank
fails you and you're protected by FDIIC. But most importantly,
you're only you're only earning less than a half a
percent a year on your heart money. The principle is
to put your money to work harder for you than
you did for it. Take a five year CD. A
(08:07):
five year CD certificate of depositive only pays one third
of a penny, right, one third zero point three one
percent annually. Right, that's less than a savings account. A
mutual fund pays you about ten to fourteen percent annually
(08:28):
on average, four one K about ten to eleven percent annually.
The stock market about nine point two percent annually. The
s and P five hundred market if you're if you're
investing in the best stocks, is about thirteen point six
percent annually. Real estate pays ten to eleven percent annually,
(08:51):
and goals, if you invest in goal, is about ten
point six percent annually. So let me tell you what
I've done with crypto and just nine months. I started
in the crypto space after studying it for a year,
and I started by entering one opportunity, one platform after
studying that platform. All right, so I started my crypto
(09:15):
journey nine months ago. This is the truth. I could
show it to you, I could verify. I started with
about ten thousand dollars in cash. Where did I take it?
I took it from my savings account, which was paying
me a little or nothing. Yeah, yeah, absolutely, not less
than five percent, less than a half a percent.
Speaker 1 (09:38):
Apologize, I'm giving it too much.
Speaker 2 (09:39):
Credit, less than a half of this tent right. So
I started with ten thousand dollars cash, which I took
for my savings account, which would pay me less than
a half a percent, of which I had sixty thousand
dollars in because we were always taught to say for
a rainy day, right, So that was my rainy day money.
I took ten thousand dollars cash out of that. In
(10:01):
January of this year, I invested in a crypto platform
called for Sage, which was really an ethereum.
Speaker 3 (10:12):
Uh.
Speaker 2 (10:13):
You know, there's ethereum, there's bitcoin. Bitcoin is the is
the number one cryptocurrency, and Ethereum is the number two cryptocurrency.
Bitcoin is at about forty six thousand dollars a coin,
and Ethereum today is about thirty four thousand dollars a coin.
But when I invested in it, let's see nine months ago. No,
(10:38):
it's actually a little bit more than that, is about
twelve months ago. But a year ago, Ethereum was one
hundred and ninety seven dollars a coin.
Speaker 1 (10:46):
Today, okay, okay, okay, got doctor, you're about to get
me mad now now you just say it. It's thirty
four thousand dollars a coin, and you invested when it
was one hundred dollars a coin, right, that's what you
just said.
Speaker 2 (11:00):
On ethereum. Ethereum is thirty four hundred dollars a coin.
I invested in it about a year ago when it
was one hundred and ninety seven dollars a coin, and
My investment today is worth eighty seven thousand dollars cash money.
Then I invested in my second platform, this is no
(11:20):
PS for Sean and it was called cash. It was
called CFX All Cash FX. That was an investment in
the foreign exchange market. You get in with bitcoin and
you get paid in bitcoin. I invested seven thousand dollars
in CFX. Today, my seven thousand dollars is worth ninety
(11:41):
six thousand dollars. My third investment was in hyperfund, which
is investment in the crypto ecosystem, and that investment I
invested about five thousand dollars. That investment is worth fifty
thousand dollars. Right. So when you look at the money
(12:03):
that I invested about ten thousand dollars right right, I
have earned two hundred and thirty six thousand dollars or
a twenty four hundred percent return on my investment in
less than a year.
Speaker 1 (12:19):
And that's on the market that I said earlier that
I have refused to sit down to learn about. And
that's what so many African Americans are, people of color
or minoritists are refusing to educate themselves. And that's why
I really started this show because I wanted to start.
I want to engage more people, doctor Fraser, because my
fear shouldn't be your fear. If you want to call
and make a comment, please do. I'm presently talking to
(12:39):
doctor Georgey Fraser. He is a chairman and CEO of
Fraser Net Inc. The company founded over thirty years ago.
The person I met twenty years ago when I was
with Steve Harvey. That's how long I've known this brother,
and he's a great brother. He's providing information on because
we want to hear you on the phone, or we
want to hear some more from doctor Georgey Fraser.
Speaker 4 (12:59):
Please tell me anywhere. We'll be right back with more
money Making Conversations Masterclass. Welcome back to the money Making
Conversations Masterclass hosted by Rashan McDonald. Money Making Conversations Masterclass
continues online at Moneymakingconversations dot com and follow money Making
(13:20):
Conversations Masterclass on Facebook, Twitter and Instagram.
Speaker 1 (13:24):
Welcome back to money Making Conversation. I am your host,
Rashan McDonald. Money Making Conversations a platform are created to
supply everybody with information, not just a few people. The
problem with this world, especially in the minority community, is
that information is kind of like precious. You know, a
few people get in and don't want to share. And
what I've been doing for the longest, since i started
(13:44):
money making conversation at twenty seventeen, is to bring individuals on.
I have ash cash he's own. After this break, he's
going to be on the show in studio talking about
motivating people to success. But I felt there was no
one that could do it better. That started today with
doctor GEORGEI. Fraser, because that's a certain honest about him. Plus,
you know, he's been through decades. You know, you want
somebody to have been through a lot of decades. He's
(14:06):
been through the Civil Rights decade. He had been through
the big Afro decades.
Speaker 2 (14:10):
He hadn't been through you know, seventy seven, absolutely decades.
Something made a lot of mistakes. I failed my way
to success. But I was curious, right I was, And
that's the key. And you've got to be intellectually curious.
You got to do their study, take the deep dive
so that you could do some critical thinking and then,
as Bernie Mac would say, bust the damn move, do
(14:32):
something different. You know, an.
Speaker 1 (14:34):
Interesting thing about that doctor Georgey Fraser, is that we
know what I listened listen to you. First of all,
people are always worried about their age, and I always
say that at the top of my show because I
really didn't find out who I was until I was
in my forties. Accept the responsibility of what I could accomplish,
you know, because a lot of people waiting for this
magic or they hit fifty to just stop, and they
(14:54):
hit sixty and they think the government is going to
take care of them with something in retirement. And we
all know that's a lot that's worse than they. And
so the reason I've always looked at you because you
remain topical and it's not like you're trying to be young,
just like I'm not trying to be young. But the
information you always gave my audience and me was so relevant.
(15:15):
What what guides you down that line of being saying
you know some I'm just I'm just a sponge, but
I'm not going to act like I know more, but
I want to share more, talk about you for a
little bit true.
Speaker 2 (15:26):
Yeah, you know. My goal is to give back the
knowledge that the Creator has allowed me to learn, that
he has poured into me, that I have learned, and
my moral responsibility and spiritual responsibility is to give it
(15:46):
back because that is the purpose of life. Rashon the
purpose of life is very simple. God doesn't make anything complicated.
We make things complicated. We make things complicated so we
don't have to do it. The more complicated we make it,
the more reasons we have doing it. And we make
things complicated to control power. If I am the only
one that knows a certain thing, and I have power
(16:08):
over you. So my job is to keep it simple
and to share it. That is the reason God has
given me more and more and information, because the more
He gives me, the more I share, and that is
congruent with the purpose of life. The purpose of life
is very simple. It is to love, to give, to serve,
and to add the highest value to somebody or something
(16:30):
every single minute of every single day. That is why
we are living. There is no other reason for you
to be sucking up this good air. It's loving, serving
and adding value. So I want to add value. I
want to get to heaven right, and I'm going to
get to heaven by giving away. When I say this,
metaphorically giving away that which I have been giving, so
that it can be leveraged, right, and more of our
(16:53):
people can benefit from the assets and the knowledge and
the successes that I have achieved. That's really what it's
all about. That's really Let me give you a metaphor.
It's called teamwork. Okay, let me give you a metaphor.
This is and it's a true story. I'm gonna ask
you a question, simple question. Who holds the world record
(17:17):
for one hundred meters? Who holds the world record for
one hundred meters? The answer to that is Usain Bolt
from Jamaica, right right. He did it at nine point
five eight seconds. He holds the world record four hundred
meters at nine point five eight seconds. Now, the next
(17:40):
question is who owns the four by one hundred relay
world record? Who holds that? It is the Jamaican track team,
the men's Jamaican track team, of which usein Bolt runs on.
They finished the four by one hundred in thirty six
point eight four seconds. Now, if you do your math,
(18:07):
that's nine point two one seconds or thirty one seconds
faster than the world record. And Hussein Boat was on
that relay team and they ran four one hundred meters
faster than he ran a single one hundred meters. So
what does that mean? That means when we work together,
(18:27):
when we collaborate, when we share, when we run share,
when we run together, none of us is as good
as all of us put together. So we've got to
run together. We've got to run as one. That means
we have to share. If I have good knowledge and
good information, right, I will share it with you. If
you want to do something I'm doing, I make it
(18:47):
easy for you to do that.
Speaker 1 (18:49):
Cool.
Speaker 2 (18:49):
That's the phrasier.
Speaker 1 (18:51):
We have a call here, or like I said, Warren
from Atlanta, he has he called and answer a question
on money made conversation. Warren, how are you doing that?
Speaker 2 (18:58):
I'm good?
Speaker 1 (18:59):
How are you, doctor George? See Fraser on the call here?
What was your question? My friend? Thank you for calling
in on money making Conversation on WCLK.
Speaker 3 (19:07):
Sure, doctor Fraser, how are you deceivening?
Speaker 2 (19:10):
I'm doing wonderful.
Speaker 3 (19:10):
Thank you good. With thirty years of experience with entrepreneurship
among the black community, how would you prioritize the cryptocurrency
you mentioned among the other opportunities that exist for entrepreneurs
to do well in the community. We have an absence
(19:31):
of media, We have food, deserts and the like. How
would you rank cryptocurrency.
Speaker 2 (19:40):
Well, I think the number one thing that Black folks
have to focus on in the twenty first century is
building wealth that will come through financial literacy and financial education.
What's the first thing slaves did when they became free.
They start building small schools or classrooms in small schools,
the largest schools and the more than one hundred years, we
(20:00):
had an entire system of historically black colleges and university.
So education, education, that's the number one priority. Is financial
education that will lead to building wealth and closing the
income and wealth gap and then ultimately creating working jobs
for our people, as hopefully we will become the number
(20:21):
one employer of our own people by the end of
the twenty first century, which means that we end also
have to engage in business building. So if I was
to categorize under the headline of financial education and economic development,
under the headline which is number one, that's the number
(20:45):
one thing under that headline would be business building, business building,
and then number two would be taking advantage of the
newest economic opportunity for closing the income and wealth gap,
(21:08):
and that is cryptocurrency. That's the number one of the
area of interest that we need to be fold if
we really really want to close this gap cryptocurrency.
Speaker 1 (21:24):
When you say that, doctor Fraser, that also means you
have to lend yourself to education. And uh that's and
also and walk into the valley of the unknown, because,
like you said earlier, my whole thing about the show,
and I'm glad people are calling in. If we've got
enough number of calls, we want to talk to you
today on the show. And thank you for calling again
coming in on my show today to discuss this, Doctor
Georgeie Frasier.
Speaker 2 (21:44):
Is that all right?
Speaker 1 (21:45):
Thank you, Thank you my friend, Thank you Warren for
calling in, and call back next week. We have more
important people on the show that's going to lead you
to areas that are going to give you information to
win with. It's by money making conversations. But what I
want to say about cryptocurrency, what I like to always
tell people about I have flaws and what I won't
do no matter what house you see I live in,
or what you see me post on social media, what
(22:06):
car you see me drive. That doesn't just mean a
perfect person that's driving that vehicle. It's a person who
has fear as a person who has doubts about himself,
but he overcome that because of the fact I have
relationship and mentors and people who are conturned to for advice.
This show is like your advice show. You call in,
we give you advice. You go do your research. Please
do not hold us accountable if you don't do your research.
(22:28):
And even if you do your research, don't hold us
accountable because you have them. In other words, could be
a lady or man. Listen to me, Man up. I'm
just using a general statement about your life. If you
want to stay play it safe and keep your money
in saving, keep it there, keep it there. But don't
be mad if your friend does not play it safe
(22:49):
and they invest a little bit of money like he is,
say one hundred thousand dollars. He didn say a million dollars.
Speaker 3 (22:54):
He said.
Speaker 1 (22:54):
He broke it up ten thousand dollars in three different ways,
and he came back a happy man. Now I'm mad
at him because he didn't tail me. That's all I
say about the job. He didn't tell me because he
got my number. He got my number everybody, but he
didn't tell me though.
Speaker 2 (23:08):
All Right, So I'm gonna I'm gonna put this out.
I love what. I love you for saying that. I
love you for saying that because because it makes a
very very very important point. We cannot not do something
because either we fear it, or we're operating out of
a scarcity mentality or fear mentality, or we don't know.
(23:31):
There are brothers and sisters that do know. So I
have five hundred people in my network who were interested
in crypto, and we bring in the experts. We try
to understand what are the best, blessed best platforms to
invest in. So, because you don't know, or the people
in your audience may not know, if they got in
(23:54):
touch with me, I do know, and I can prove
that I know, and then I could help it along
with my team raw experts in this space help you
make the right and the safest investment. Doesn't mean that
it still isn't risk. Of course, it's all risk. Everything
is risking you invest in the stock market is all risk.
Speaker 1 (24:16):
A question about it, Hey, doctor George, I want to
get in one more call before we go to break
rodrigaz in Atlanta has another crypto currency. Like I said,
you don't fire today, you don't fire today. I love it.
I love it, Rodriguez. This is Rashan McDonald speaking to you,
and on the call is also doctor GEORGEI Fraser. What's
your question?
Speaker 3 (24:37):
Hello?
Speaker 1 (24:37):
Are you still there? What's the next question? We at okay,
turnbot and decata. You had a question about an investment
turnbull turnbile? Is it turnbull or turnbou turn turnbo? Okay?
Thank you for calling money Making Conversation. What is your
question that you want to ask on Money Making Conversation today?
Speaker 5 (24:58):
My question is what about We're talked about cryptocurrency and
it sounds really good, but what about for those folks
who don't have, you know, a large amount of money
to invest in cryptocurrencies or something like that? Is there
another level below that where we can start to get
(25:21):
in and see some uh some good returns on?
Speaker 2 (25:26):
Yes, of course there is. You could start with as
little as three hundred dollars. I started with ten thousand
dollars because ten thousand dollars is like three hundred dollars
to me, so if I lost it tomorrow, it wouldn't
make one damn bit of difference in my life. You
could start with three hundred.
Speaker 1 (25:43):
Dollars, absolutely, you know the beauty of what I would
would you just say it is people tend to put
value on what I can start. You know, don't look
at imagine if you if you need to be starting
in an apartment. Now I would tell people, you know,
if you make one hundred thousand dollars, you're not going
to live a lifestyllar a ten times dollars person, because
I wish I could still keep buying the same two pays,
(26:04):
keep buying the same because you don't elevate your game.
That's all he said. If he had three hundred dollars,
he would invest it, but he got ten thousand dollars.
So you took it the wrong way. You took it
like he had a lot of money and you had
a lot of money to participate. This is money making conversation.
We're just breaking it down to everybody who's listening. Listen
to me right now. You can be part of the
big dream, but you have to stop shutting yourself down
(26:28):
and hearing what you want to hear. And that's when
I go back to the point. Education and what stops
people for investing in themselves or in the stock. They
are fearful. You can buy five dollar stock you can
buy penny stock, you can buy anything you want. But
what you do is you look. You look on TV
and you see, you know, you see the Amazon CEO,
(26:50):
billion dollar man. You see the guy going to space.
You know, all of a sudden you say, I can
never go to space because I can't afford one hundred
and twenty five thousand space. C Well, you want supposed
to be trying to get in that seat. What you
were supposed to be doing is looking at how he
got there. Do your research so you can get there.
And that's what this show is about getting you there.
And that's why I brought doctor Georgie Fraser. I got
(27:11):
my man, asked cast. He's in banking, so understand that
this conversation about money making conversation. Now, if you want
to be part of the money making conversation, call me
right now. Four zero four eight A zero nine two
five five. I gotta let my man go right now,
but he gonna come back because right now he brought fire.
He brought fire to money making conversation, Doctor Georgy Fras.
(27:31):
I want to thank you, brother for coming on my show.
Speaker 2 (27:33):
Love you, love you.
Speaker 1 (27:34):
You call You're not gonna call you you're not gonna
call you, please, Crypto Currency King right here, Crypto Characy King.
We'll be right back to Money Making Conversations. Thank you, brother,
doctor George. He phrase will be right back from my
man Ass cast right here in Atlanta. He brought me
on his TV show, on his podcast. Now that I
got him on my Money Making Conversation Live Big Tuesdays.
Speaker 2 (27:56):
Be right back.
Speaker 4 (28:00):
Thank you for joining us for this edition of Money
Making Conversations Masterclass. Money Making Conversations Masterclass with rough Shan
McDonald is produced by thirty eight fifteen Media Inc. More
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