Todays Bloomberg/ Business Week story: Religion and Money in the U.S.A.- "How the Mormans make Money".(explains how the Watchtower Bible and Tract Society hides assets).

by Balaamsass 14 Replies latest watchtower scandals

  • Balaamsass
    Balaamsass

    The Church of Latter-day Saints has amassed financial holdings worth billions. Here's an inside look at its business empire

    Read the story on Businessweek.com: http://www.businessweek.com/articles/2012-07-10/how-the-mormons-make-money

    This article is very interesting considering how a Morman Bishop may be the next U.S. President. It also helps explain how a religion like the the Watchtower Bible and Tract Society can avoid taxes, and investigation, by wrapping "Real Estate Investing -Flipping" in Religion. - You may need to read between the lines.

    The Ass

  • Gayle
    Gayle

    Racket and snare like the WTS.

  • Balaamsass
    Balaamsass

    Yes I found it interesting how even the Mormans have no idea of just HOW much money the religion has. Many Mormans are in the in the US Secret Service. Scary that the next President might be a Morman with his own Pretorian guard following "the apostles" in Utah.

  • time2keepmoving
    time2keepmoving

    According to U.S. law, religions have no obligation to open their books to the public.

    This is the thing, they want to ask for YOUR money in a form of a donation, but most of these big-box religions like the JW's do not want to be transparent about where that donation is going.

    Most people demand that of social services agencies like United Way and other charities, but seems like nobody is questioning where their money is going if it's an organization claiming to represent God and doing the work of the Lord!

  • Balaamsass
    Balaamsass

    Astounding,....the perfect tax shelter.

  • Scott77
    Scott77

    marked

  • Balaamsass
    Balaamsass

    Since the MENLO PARK CALIFORNIA kingdom hall fiasco, has anyone gotten an accurate count on the number of Assembly Halls and Kingdom Halls Watchtower has obtained title to? This has multiplied assets by an infinate number ...talk about IRR!!!! Better than the Hedge Fund return.

  • JakeM2012
    JakeM2012

    " Better than the Hedge Fund return."

    They have learned quite well that you can shear the sheep three times a year, but you can only slaughter it once.

  • bats in the belfry
    bats in the belfry

    On page 5 of that story:

    Until the 1990s, wards—the Mormon equivalent of parishes—kept some donated member money locally to distribute for aid and activities as they saw fit. Today all money is wired directly to Salt Lake City. McMullin insists that not one penny of tithing goes to the church’s for-profit endeavors, but it’s impossible for church members to know for sure.

    Although the Mormon Doctrine and Covenants says “all things shall be done by common consent in the church,” members are not provided with any financial accounting. Daymon M. Smith, a Mormon anthropologist, points out that tithing slips read, “Though reasonable efforts will be made globally to use donations as designated, all donations become the Church’s property and will be used at the Church’s sole discretion to further the church’s overall mission.”

    Doesn't the WTBTS also require to send local KH surplus donation to HQ?

    They are all the same - fleecing the flock. (ABBA song: Money, money ... )

  • Diest
    Diest

    I can officially say that freedom of religion needs to be revamped....not going to happen, but it needs to.

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