Watchtower Society and the stock market

by ldrnomo 6 Replies latest watchtower beliefs

  • ldrnomo
    ldrnomo

    The January WT study edition has an article about staying close to Jehovah. I noticed this in Paragraphs 14 and 15:

    14, 15. Why must we not look to the financial system for security? Give an example.

    14 Certain eagles are reported to have drowned when they did not release from their talons a fish that was too heavy to carry off. Could something similar happen to a Christian? “I’m normally very thrifty,” explains an elder named Alex. “If I pour out a little too much shampoo, I put some back in the bottle.” Nevertheless, Alex got caught up in trading in the stock market, thinking he could soon quit his job and enter the pioneer service. He became ever more engrossed in studying various offerings and market reports. Using his savings and money borrowed from brokers, he bought stocks that analysts predicted would quickly rise in value. Instead, they dropped sharply. “I was determined to get my money back,” Alex relates. “I felt that if I just held on, the stocks would come back up.”

    15 For months, Alex could think of little else. He found it difficult to focus on spiritual matters, and he lost sleep. But the stocks never rebounded. Alex lost his savings and had to sell his house. “I caused my family great pain,” he admits. But he learned an important lesson. “I now know that anyone who puts his trust in Satan’s system will be profoundly disappointed.” (Prov. 11:28) Indeed, resting our hope on our savings, investments, or ability to earn money in this system amounts to resting our hope on “the god of this system,” Satan. (2 Cor. 4:4; 1 Tim. 6:17) Alex has since simplified his life “for the sake of the good news.” He will tell you that doing so has made him and his family happier and has drawn them closer to Jehovah.—Read Mark 10:29, 30.

    I like the illistration of the eagle and I think we could apply this to the Society hanging on to the money they owe to Candice Conti.

    I was surprised they used the example of investing in the stock market because the Watchtower invests in the stock market

  • iamwhoiam
    iamwhoiam

    Even if the Alex story is true, it is still typical JW jargon. It is true that there are very few successful traders compared to unsuccessful traders. However, the ones that are unsuccessful always blame it on something else. In this instance, Satan's system. And, it makes for a good experience for WT to print.

  • sabastious
    sabastious

    Translation: Betting on economic analysts is bad. Betting on the directions of Watchtower Bible interpretors is good.

    -Sab

  • DesirousOfChange
    DesirousOfChange

    It is true that there are very few successful traders compared to unsuccessful traders.

    I don't agree with this statement.

    MOST people who invest in the stock market do make a profit, otherwise NO ONE would do it.

    In America, there are more people with investments in stocks than ever before in history. If most who invested in it lost, then pension plans and other investment groups would avoid the market.

    Doc

  • Skbj
    Skbj

    I wonder if the GB founds it difficult to focus on spiritual matters, and loses sleep investing in hedge funds!

    I'm sure they discourage this so the least people as possible find out how much the WTBS is actually involved in the stock markets, and then those few who find out and question the hypocrisy of this can be called apostate. They make me sick!

  • unstopableravens
    unstopableravens

    thw watchtower would never condenm something that they are doing ! would they ever condemn other religions for holding hands with the nations and secretly have a one night stand or a decade affiar with the un ? would they ever condemn the catholic church for have a credit card machine and than turn around and put four at a assembly ?

  • iamwhoiam
    iamwhoiam

    DOC,

    Comparing Investors to Traders is like comparing Apples to Oranges. Nowhere was the term investing used in Alex's experience...the WT added that at the end.

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