Interesting about checks written out to Watch Tower - 2 words. I seem to remember instructions about that.
How the WTS hides its cash.....you may find this interesting
by God_Delusion 62 Replies latest watchtower scandals
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ziddina
I've got to run but want to read this later... Looks interesting!! Zid
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Lady Lee
I have a question
Real estate, other companies, cheques people donate - all that is easy to trace. Money from the congregations - that too would be easy to trace.
What about all that cash. The cash that comes in at conventions.
How easy is it for them to stash the cash?
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flipper
God_Delusion- Great thread ! Thanks for posting. I've suspected for some years now that the leaders of the WT society are a bunch of money grubbing freaks. Every fall once a year they still print out an artcicle in the WT magazine- or parts on the Service Meeting about how JW's can donate. Every year the list seems to get longer and longer of ways members are encouraged to donate.
The WT society receives regularly, estates, trust funds, life insurance policy's , wills, inheritances, jewelry, and yes even cars donated to them. So there is no doubt in my mind that what you say about overseas trusts or Bank accounts are definitely being used to siphon off big $$$$ for when the witnesses get shut down ( wishful thinking ) some day
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leec
So hey, maybe Jehovah has a 2 for 1 deal on every dollar that makes it into Paradise ...?
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dissed
Well, if its not illegal......and it would be prudent to put some aside just incase something happened bad.......then I feel they would be stupid not to stash some cash.
Very little risk even if it was for personal stuff. They could always say they was saving it for the faithful ones of old in Heb. 11, just in case if they do get brought back to life afterall
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God_Delusion
Good post JWfacts.
As I stated previously, some Trusts are virtually undetectable. You can bet your bottom dollar that the reason JWfacts gave ("the GB would hold a fear of governments seizing their assets in an attempt to close them down, and the commercial system trying to sue them over pedophilia, blood transfusions and shunning") is one of the main reasons.
But, I still adhere to my opinion that they have Trusts formed for monitary purposes too.
Let me also add that there's actually nothing wrong with having Trusts. The thing that makes it wrong in my eyes, is that they (the Governing Body, Elders, Elders Wives, etc.) go on about how we should keep our lives simple as the end is just around the corner, yet, they run the organisation just like any business; budgeted forecasted accounts, subsidiary companies, Trusts, etc.
That my friends, is what bursts my button....
PS. I know some of you will say that they have to run it like that, but that excuse doesn't wash with me. If they are truly God's Earthly Organisation, then surely he would look after his own? Or does Jehovah inform the GB (via "New Light") that the Legal & Finance Departments have to carry out projected accounts, legal taskings, etc.....
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WTWizard
Now, if only they would start a Value Destroyer Tax. They would tax organizations that wantonly destroy value in its members at 100% of their whole income. The purpose would be to destroy organizations that are complete parasites, that destroy individuals that otherwise would have contributed to the economy, and that pull off scams to force people to stay within the organization. If they lie to keep themselves from paying this tax, they would face jail time as well for perjury. The money would be used to educate the public that such organization exists solely to steal money from people and to control their whole lives.
Of course, checks and balances would need to be put in place to prevent legitimate charities and value-creating or value-neutral organizations from being taxed under this new tax. But, properly imposed, it would definitely shut down the Washtowel Babble and Crap Slaveholdery, prevent them from legally enforcing baptisms as "legally binding contracts", prevent them from suing people for exposing the real truth about the cancer, and stop them from starting up under a new name.
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cameo-d
God_Delusion: "You see, if the end was nigh, why would the organisation setup subsidiary companies that deal in Real Estate, Paper, etc.? If Jehovah was about to bring the mass genocide upon this Earth, would they need to be looking at how to invest, so as to make sure their non-profit organisation would be a going concern in years to come?"
The end is nigh. God kills off people who know too much. That was the warning with Adam and Eve getting too smart for their britches. (should have stayed in your mindless garden; you chose knowledge and found out the evil darkside ---now you die for it.)
For some reason, I get a hunch that they must be transferring the last of their assets out of the country. It is becoming visible that these non-profits have purchased huge hunks of land in third world countries. I suppose they will set up their Paradise Compounds there and take advantage of the indigenous people who do not know about their background. It will start all over. Something tells me those people will never have internet and we won't be around to warn them, either.
You are very courageous to come forward with this information. I have no doubt that it is just as you say. I have suspected for a long time they were squirreling in off shore accounts and hiding under umbrellas. It is one thing to have a gut feeling and quite another to be able to prove it. The details you have provided of "how its done" legitimizes that instinctual "just knowing" feeling that many have probably had.
In my opinion (and it's my professional opinion), the real top big-wigs in the organisation, do not actually believe a thing that the GB teach. They keep this wagon going because it is what it is....a money-making machine.
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God_Delusion
Lady Lee posted:
"I have a question
Real estate, other companies, cheques people donate - all that is easy to trace. Money from the congregations - that too would be easy to trace.
What about all that cash. The cash that comes in at conventions.
How easy is it for them to stash the cash?"
Basically, it's a fairly easy process. You see, each congregation is, what we call in accounting terms, a Cost Centre (or Center if you're from across the pond). Each one of these Cost Centres makes monthly payments to The Worldwide Work Fund (or they did in my day). The monies collected from the WWF is sent to the Organisation (Watch Tower, not Watchtower). The Watch Tower company is exactly that, a company! It has to pay invoices to suppliers, utility bills, etc.
I would instruct my clients (the big-wigs in the Watch Tower) to register various IBC's (International Business Companies), possibly in The Seychelles and BVI (British Virgin Islands). When we form the companies, we issue something called a Shares Certificate. Normally, these Share Certificates hold the information of the Beneficial Owners, e.g. the real owners of the company. But when you register an IBC, there are certain legal loopholes that allow Nominee Shareholders to be listed on the Shares Certificate, meaning that the actual owners of the IBC are listed, not as the WTS, but as my company. That is the meaning of Nominee Shareholders/Directors. We basically replace our details with that of the real owners.
If you're thinking that no company would do this, because a level of trust would be needed, companies like mine issue something called a Letter of Indemnity, meaning that even though we are the Shareholders (and possible Directors of the IBC), we must adhere to the requirements of the actual Beneficiary Owners.
Interesting huh?
The IBC's that we have now created for the WTS, are companies in their own right. These IBC's need to issue invoices so as to bring funds into the company. They mainly issue invoices to the Watch Tower. Prior to issuing any invoices, we draw up contracts between the IBC (Company X) and the Watch Tower, stating that "for the time period of X to Y, the Watch Tower has agreed to employ us as its Management & Administration company in this territory and that the monthly payment of $30,000 must be paid per calendar month". The Watch Tower happily makes these payments to Company X. They are basically taking money out of their right pocket and putting it in their secret coat pocket.
So you see, removing monies from the Watch Tower is a fairly simple process (if done correctly).
PS. Each District, Circuit Convention is a Cost Centre in its own right. Therefore, whenever you (well, not you, but some half-brain tool) make a donation, you are actually donating money to that specific Cost Centre, NOT the Watchtower.
C Scienza