cognac: Yes you are right, "they'd lose a crapload of assets".
What would you do if the Society Declares Bankruptcy
by Quarterback 54 Replies latest jw friends
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cognac
James - Hahahahhahaha, thanks for the clarification -
wallsofjericho
Looking poor means less to sue for
they have tons of money
this is all a ruse. They are moving money around so lawyers can't get to it
in the mean time, the WTS themselves may have trouble spending it also, thus creating a cash flow crisis
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cognac
Walls - Not with the abuse cases. They can't just hide money.
Apparently, they don't have trouble spending it. Last year, they spent about 225 mil on SP's, Missionaries, DO's, etc...
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WTWizard
Let them. They get a look at my bank statements, I will simply buy enough silver so I "cannot afford" to give them anything, pass the bill off as necessary things, and not give them anything. (And that assumes they get to look at it, since my shredder can take care of it or I can give them an outdated one or a slip where someone left a receipt with less than 100 toilet papers in their account, so they can think I have less than 100 toilet papers).
If they impose tithing, I give nothing. I do not support that religion, even if I somehow get legally forced back into the cancer (remembering Saturn is in Sagittarius, after all). Suppose I print a bogus pay stub--and use that (not my W2, obviously) to determine my tithe. I could simply say that I am making something like a toilet paper (or 2) a week due to corporate issues, until further notice, or that I am not working except to find better employment. I could also alter the numbers on the fake stub, or claim that they are hitting my new payroll card with cascading fees (that is, fees that trigger other fees) and reducing my net pay below zero (meaning a negative tithe). Then, with the difference, I simply buy more silver (and hide it).
Let the dollar become toilet paper (remembering Neptune will cross the fatal 9 degrees of Pisces in February 2016 and again, retrograding into that degree in the fall of 2016 into early 2017), and they are getting nothing. Why should they know I have any silver, or how much? As far as they have any business knowing, my silver stack could simply be a few Mercury dimes and a couple of Barber quarters. And they are not getting any.
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nevaagain
I dont want to rain on your parade guys but I dont think the WTS will declare bankruptcy ever! If you think about it, whare are their expenses? Printing and paying for bethelites and special pioneers. What did they just do a couple of weeks ago? Announced that they will reduce the magazine and lay off bethelites. So before they declare bankruptcy they will just lay off everybody not essential for putting and translating the magazines/literature and go full digital. They will just let the rank and file know that from now on they have to print the magazines themselves for service and just use digital literature for meetings. They could also ask the congregations for more money.
So the recent measurements taken were probably already to prevent bankruptcy.
Plus it is already known ammong witnesses that the WTS wants to put 4 congregations into each hall. That means there is a lot of real estate to sell. More congregations supporting a hall while assuming the same contributions for hall maintenance and the world wide work would still come from the rank file, more money for the WTS since the maintenance bill would get shouldered by more ppl. I hope I am making sense here.
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punkofnice
His holiness paedophile protecting watchtower rock star pope Lett said they have more going out than coming in.
Even if the corporation went belly up, the rank and file would continue to keep the wheels going somehow. They are the ones that keep it going...with THEIR money.
they'd be happy too because it would be a sign that the end was soooooooo close.
What would I do................hmmmmmmm.........not a lot. Make a cake in their honour? Nah. I wouldn't do anything except smirk a little.
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Beth Sarim
The Borg has some billions in property/assets. They could simply sell most of it and come out on top. It's very evident already as we see the disposables like Bethel workers/Special pioneers kick-out and sent home. -
zarco
The WT is not any where near bankruptcy. They have significant real estate assets that will keep them afloat for a long long time. I am sure they are having cash flow issues as many on this forum have either demonstrated or surmised. The cash flow issues seem severe. However, there are many moves in the WTS's portfolio. Selling assets, continuing or enhancing the fake tithing, consolidating assets, getting out of the printing business and many many others.
When you think about it, the WTS could run its worldwide operations with probably around 200 people. The GB, the helpers, legal, finance, administrative, IT staffs and support functions. All the customer facing folks DO/CO/other could be local volunteers.
A lot of the old timers would appreciate a move to a very small crazy core similar to the old days. And most of the established folks would stay because the cost of leaving (emotional, social, realization that you have been lied to) is way too high. The young ones will continue to leave. But the aging core and the streamlined headquarters would last a generation or two (not an over-lapping one).
Zarco
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cognac
Zarco- I don't know, they've pissed through over 800 million just from the Brooklyn property sales since 2004.
Yet, the are still in the red.
Obviously, they need to make a lot more cutbacks then they have been, but they aren't for some reason.
Something has to give sooner or later...