WTS Will Stop Charging Interest on Loans (page 2)

purplesofa

Thanks for the info

Hope all is good with you,

purps

james_woods

It might be yet another sign of the times (bad economic times for the Corporate Society)...

The WTS now depends on a direct monthly contribution from each congregation (instead of the old money-pump of the literature counter). In the old days, each Kingdom Hall had it's own property, it's own real estate loan (usually this was given by wealthier JW locals and usually forgiven of even principal payments, let alone interest), and the WTS never ever loaned out money for a Kingdom Hall. For a while, the property-rich WTS found a lucrative market in suddenly making a lot of Kingdom Hall loans, and shrewdly, having all the property deeded to themselves - not the congregations as of old. Now, with money getting tighter and tighter, maybe they want to keep the congregations in business (and sending in the monthly check), and so they want to lighten up a little on the vigorish to keep the blood flowing as long as possible?

What do you think they are going to do, anyway? Foreclose on the Kingdom Halls? Then who is going to pay the rent?

Babylon the Great?

changeling

Curiouser and curiouser...

changeling :)

Farkel

The interest rate on KH loans was always very low, typically 2 or 3 percent, and certainly not high enough to compensate for opportunity lost to use the money to make more profitable investments than loans on halls. When we needed a new hall, the elders went to the bank and got a new loan. Of course that was several thousand years ago before the society started making those types of loans.

Farkel

sir82

There must be some awfully compelling reason for the Society to give up a steady income stream, even if it is just a mere 3%. There must be some danger to them, or at least to their finances, if they were to continue to charge interest.

Have there been any recent legal rulings that would have provoked such a change?

james_woods

Just a cynical side note: I once read about McDonalds Hamburgers - they only sell the hamburgers to keep the doors open. The real money is in the real estate upon which they built the fast food restaurants.

Say it aint so, Joe...

Farkel

james woods,

:The real money is in the real estate upon which they built the fast food restaurants.

I think you may be on to something here, but let me add something else. It's true that MacDonalds doesn't make squat profit on their food. They make all their cash flow from flavored sugar water which has a gigantic mark-up.

The WTS makes all its cash flow from flavored sugar water words, which has a gigantic mark-up. They BOTH make a lot of money from the sale of the land on the franchise.

MacDonalds = Watchtower Society! Wow! This is spiritually DEEEEEEEEP! Ronald MacDonald = Governing Body. Bic Mac = Ted Jaracz. Large Fries = elders. Quarter Pounder w/Cheese = Circuit Overseer. Chicken McNuggets = "gleaning" for new "light" from a WT publication. Cahiers = rank & file dubs.

Therefore brothers, we can confidently state that the indisputable facts show MacDonalds Corporation has a modern fulfillment as it points to the Watchtower Coroporation CLASS as the greater fulfillment in our day of the prototypical MacDonalds Class.

Farkel

james_woods

Farkel, my brother! That was brilliant. We need you as a writing department lackey, but would you first be willing to take a three year assignment to the Nigerian branch office?

83501nwahs

Sounds like they are hording all the capital which would give them the opportunity to become their own bank and gt off the grid economically. Sounds sinister to me. Stick em up and give us all your money. We'll be your sugar daddy IF you need any money. And WE will decide if you need any money.

daniel-p

What about "not charging your brother interest"? THey only now catch on to that?

WTS Will Stop Charging Interest on Loans

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