So what is the Society doing with all that $$$?

by QuestioningEverything 31 Replies latest jw friends

  • Bugbear
    Bugbear

    The WTBS is as faar as I know registred in the US as a religious or communal "help" organization, with no taxation demands.

    All other AID organization (Red cross, Save the children, redhalvmoon, Unicef) you mention it, are obligated in all other states are demanded to fill in their financial statement, and declere how they have used the money.

    The WTBS are scared to death if the even the US gov. should demand such a statement from the Bros. As long as no one tells the tax. authorities in the US, that perhaps the WBTS, is not un org. to those needy, they can go on and save their money on some bank account on caymanisland.

    Bugbear

  • snare&racket
    snare&racket

    So a hedge fund, will take your money and invest it all over the world and make you more money. Even with huge losses of potential profit in a collapse, they still profits.

    ao here is an example, I know a hedge fund analyst, he works for a firm, that for a £250 million buy in, you make 40% a year on your money. The percentage is bases on how the shares they are in per month and on average a year, they do 40%.

    so if you have big money, you stick it in a hedge fund for ten years and become super rich.

    The society had a couple of billion at least, in early 2000's. We know they are classed as 'institutional investors' in the major hedge funds as they pay thousands to send representatives to global hedge fund conferences, e.g. Hedge fund intelligence in London.

    Because of compund interest, if they put 250 million in, they make 100 million in year one, so now in year two they have 350 million , again at 40% they now make £140 million in that year so by year three they have half a billion! This is how the 'one percenters' are becoming so filthy rich, it isnt a secret, you just need a huge 'buy in'.

    The socirty have long been involved in these now, they also have been selling everything, I have said already, I believe they are selling to have access to the liquid assets, so they can put it all into these funds, to make even more. The more you put in the more that 40% represents. They have just sold nearly 4 billiion pounds woth of property in the last 2 years in new york alone, according to the new york eagle.

    I sincerely think that WT will be financial mammoths very soon, already richer than some small countries, they will soon have real financial power and therefore real world power. Just by moving their money around, they could affect economies. I know this sounds very unrealistic, but they were in the top 30 NY corporations 15 years ago, I think they will be heavy hitters very soon.

    what they will do with that power, what they will do with their religious responsibilities I have no idea. I believe most of the WT assets have the clause that if the watchtower is to end as a corporation the FDS alone have the right to assign the assets to another business/holder.

    I see them slowing down their religious activity hugely and doing massive spending cuts at the expense of their teaching and ministry work. For me the motives have already started to have more of an economical priority than a witnessing one, I think it is the thin edge of the wedge.

    They are building a compund in the middle of the countryside, out of the way. That doesn't reassure me about their future motives. Even as an exJW, I would still hate to see them walk away with a financial sack of gold, nonchelant to the interest of their followers. I would rsther people leave feeling spiritually duped, which is regretsble enough, but to be so obviously robbed too, may be too much for many.

  • Finkelstein
    Finkelstein

    Selling off donated properties and cashing in is the apparent operation for the WTS. now.

    You have to remember that there are many people (CO's, DO's, branch servants and workers,

    GB etc. etc. ) who are making a living off the WTS. $$$

    its their retirement as well.

    The GB especially take off most in their postion flying around the world.

    Its a religious cult but its also a business.

  • Mum
    Mum

    It's in the Governing Body's Discretionary Fund. i.e., it's there to "meet their needs," wishes, dreams and desires. It gives them the privilege of patting themselves on the back while most of the world starves or barely scrapes by.

  • Zordino
    Zordino

    Marking

  • RunAsFastAsYouCan
    RunAsFastAsYouCan

    laundering the money to water the grass. laundering the money in any number of ways. Why is this so hard to understand.

    when the crystal cathedral went BK. the guys working up on stage were not hurt financially. the money was long gone.

  • geevee
    geevee

    This is a very interesting subject. One that we sit and talk about from time to time. ALL THAT MONEY. Some of it was once OURS!!.

    There is some interesting ideas that may happen, Hedge funds sounds very logical. Wouldn't mind some of that action, but alas, no $250,000,000. Does anyone know what actually happens to the money?

    I remember that in 2006 their Australian tax return was put up and of the $16,000,000 that was raised/donated here in Australia, about $1,000 or so was actually recorded to be used to help the poor!

    Even with the GB flying everwhere first class and getting another seat to put their meeting bag on, wouldn't use up the money earned from investment. Is there a backdoor into these investments that goes to say.... Russells' or Rutherfords' of Nhorr's or Franzs' families or into the pockets of the Global Elite?

    Otherwise, there would be NO point to anyone donating any money for anything anywhere!

    My thoughts, I am known to be very wrong at times.... well, most of the time ;-)

  • QuestioningEverything
    QuestioningEverything

    Geevee,

    That's my real question also. I know they invest and buy and sell properties and what not. But what's the end game? Is it just to make as much as possible?

    It's not inconceivable, because I'm sure the GB are very well cared for, so maybe it's just like any other job. I just really think somebody, somewhere has a

    greedy paw on that ca$h!

  • geevee
    geevee

    I hope that all the active JW's that are on this forum, posters and trollers have stopped donating their money to this farce..... They don't need it at all, please just stop. Give it to Sea Shepherd or something that actually does some good for something...

  • Calebs Airplane
    Calebs Airplane

    The money goes into hundreds of different offshore tax havens owned by the Rothschild family.

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