Brilliant video by a friend of ours in exposing Watchtower & the new Temple Farms/Chelmsford Branch
Where is Watchtower Getting the Money???
by Newly Enlightened 16 Replies latest watchtower scandals
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a watcher
From selling KHs.
Didn't watch the video.
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sir82
And from gullible adherents who attend meetings, conventions, and assemblies, and who donate wads and wads of $$$ because they want to "express their thanks to Jah" for giving them....videos of old men rambling semi-coherently on topics of little interest.
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kramer
Summary of this tedious video, 23 minutes of my life that I wont get back: JP Morgan have provided as commercial mortgage to finance the Chelmsford build, they secured it by registering a charge on the site. That’s it!
So a bank could theoretically repossess and sell Chelmsford if the society defaulted and courts awarded possession. WT have probably got a development loan to bridge the sale of the London properties, so they used some reserves, have spent the money from Mill Hill sales as they have gone along, then are bridging the sales of IBSA house and the other properties not yet sold, When the remaining properties are sold , they repay the bridge, or with bank agreement use the proceeds to finance the next phase coming next year. This is hardly rocket science, and JP Morgan are one of their asset managers, managing far more for them than they are borrowing through what is probably a relatively modest credit line. So no, no Jewish conspiracy, the banks aren’t running watchtower, just a boring old bank loan. Videos like this play to the apostate stereotype..
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cofty
Thank you Kramer
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Finkelstein
People are also make huge donations in their Wills all prearranged by the WTS.
But where the WTS is making the most amount of financial income is the acquiring land title deeds of Kingdom Halls or Branch sales of as late.
The WTS made close to 2 billion in the sales of all the buildings they own in Brooklyn New York just to use an example.
Then there are the sales of many branches around the world.
........but they still ask children to give up their little bit of candy money they have.
Crooked Fuckers ! sorry about the language
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sparky1
Yes Kramer, I believe that you are correct. When I was a Bethelite back in the 1970's it was well known that WATCHTOWER was a big customer of Chase Manhattan Bank and Chemical Bank. In the 1990's Chase and Chemical merged. In the year 2000, the Chase Corporation then merged with J.P. Morgan. So it is probably the case that WATCHTOWER is just a faithful long time customer of the J.P. Morgan/Chase banking company and conducting business as usual. Nothing sinister to see here folks...just move along.
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alanv
This woman is crazy. I recently unsubscribed to her channel, because she speaks such rubbish. How on earth she thinks Watchtower is going down because one small country has a mortgage on something, completely beats me. Im sure donations are way down in uk, as there has been no increase in publishers in the last 4 years. But they can get their money by selling off Kingdom Halls, which they are doing.
Once the Mill Hill site is sold, Watchtower will be back in the money again.
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Vidiot
Eventually, the family silver runs out.
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Pete Zahut
Sometimes depending upon the interest rate and fees that a money lender is charging, it's smarter to get a loan rather than to use your own money if your own money is getting a good return on what it's currently invested in.
I don't see a problem with that.
In the video it sounds as if she's saying that the lender can call in the loan at any time and demand repayment and repossess the properties if Watchtower can't pay up. I doubt that is the case. It's not as if J.P Morgan is some kind of Loan Shark. By law a fixed repayment date and a repayment schedule over a set period of time would have been established in advance and the fees and interest to be paid and was known upfront.
It's long been known that for legal reasons, the Watchtower is divided up into different entities that handle certain aspects of the organization such as real estate development and these entities must be classified as such rather than classified under something that sounds more religious or biblical to the average layman.
No new scandal here as far as I can see and I don't quite understand why these folks who are digging into Watchtower behind the scenes, seem utterly delighted when they find something questionable, rather than saddened, disappointed or concerned for their JW friends and family. They seem determined and delighted to use even the most feeble bit of information as evidence of wrongdoing.
To me, the original question still remains. Why does it take so much money to get the message of the Bible out there when everyone is a volunteer?
If 8 million JW's donated a mere 1 dollar per month they'd have 96 million dollars a year coming in. If each of those JW's spent a mere 1 hour a month preaching, there would be 96 million hours a year spent spreading the word.
We know that most JW's donate much more than 1 dollar a month and spend more than 1 hour a month in preaching. Why isn't that enough money to get the word out....why has it taken so long....where is the money going?