When people stop supporting them. I don't see their supply of supporters drying up, any time soon. The nature of the human race needs substantial change before people stop falling for wt style religious scams.
S
How long before The Watchtower goes bankrupt and vanishes?
by VM44 50 Replies latest watchtower scandals
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KW13
Because the Org is running on the backs of volunteers who also happen to be brainwashed, there will be no backlash if and when they have to downsize their operations. Nothing will continue forever though, regardless of how many dollars invested into it. I wholeheartedly believe that one day their time will come.
Governments worldwide will realize that the Society is essentially a huge cash cow and then like in France i hope, TAX, TAX...and more TAX!. More bans, more restrictions, stripping and liquidation of assets. I may not live to see it, my children may not even live to see it but its coming.
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factfinder
would not the fact that the society has downsized and cut back on magazine production and keeps changing over hardcover books to softcover or just puts out softcover books to save money mean that donations are down signifigantly?
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jwfacts
It won't go bankrupt, at least not unless something changes substantially.
I have spoken with people that are actively involved with the financial position, and whilst they are struggling in comparison to the days of selling magazines, it is still a multibillion dollar corporation with plenty of money coming in. As one source of income dries up they will find other sources, for instance more emphasis on donations.
Religion has always been a license to print money, and there are plenty of nutty religions (Scientology?) that have no difficulty finding ways to get rich.
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VM44
"Religion has always been a license to print money"
Good point. I would make one change to your statement.
"Religion has always been a license to print non-taxable money!"
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Nickolas
Bankrutpsy will not tip the scales But a wholesale crisis of confidence will do it, and then it will implode. In my lifetime? I hope so.
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moshe
But the chances of all the elders waking up at the same time and causing a mass exodus is very unlikely.
Most elders will just fade away quietly after learning of the WT lies. If they loved the sheep like they claim, they would stand up at a meeting and tell them the truth about the Truth.
The WT won't go bankrupt, but they can end up with KH's that have no elders to run them. It remains to be seen, if the brothers and sisters will obey the GB who directs them from Bethel on a widescreen TV at the front of every KH, thanks to that bad Internet connection. (did Steve Jobs see this happening in 1984?)
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jwfacts
I have purchased a few of the Australian annual financial reports, and they show that there is a reduction of money coming in, but there is no shortage of money overall. I have adjusted the figures for inflation, so those are the more realistic figures.
A few notes about those figures.
1. In 1988/89 they charged for the literature, but in later figures it is combined under donations
2. The Watchtower shuffles the donations between branches. For instance, Australia donated a lot to the Islands. I don't think the donations coming into Australia includes money from Brooklyn, but I cannot be certain.
3. I cannot get the total assets from the Financial Reports, as there are numerous other entities, and specific ones for the kingdom halls.
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stillajwexelder
Closing down and amalgamating branches will save money and raise cash. They are a long way of bankruptcy
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sspo
There are 7.5 million witnesses and it's safe to say that the majority still beleive it's the truth and contribute.
The watchtower will always find a way to use the scriptures to manipulate the minds and hearts of their members and
steal their money.
Let's keep in mind that everything is paid for by the local brothers such as insurance and medical for the CO-DO- and assembly hall.
Every Kh is owned by the societyand any new one is built on borrowed money from Brooklyn and is repaid with interest.
Very nice scam!!!!!!
