Who oversees the money for the WT?

by John Aquila 24 Replies latest watchtower scandals

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  John Aquila

  When the WT sells property for a billion dollars profit, who decides what that money is going to be used for?

  When all the money comes in from all the Kingdom Hall’s bank accounts worldwide, did all that money go into one big account and who has authority to spend it and cut some checks to whoever?

  When all the monthly donations come in to the Watchtower headquarters, who decides distribution, and to who?
  

  I don’t believe the Governing Body has any expertise or knowledge on financial matters to make these decisions.

  Could a group of people that are “NOT” Jehovah’s Witnesses be taking a big cut from all the profits? Could Organize Crime be involved?
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  Magnum

  Good question. With that much money, there has to be somebody (should be a group with many checks and balances) who gives diligent thought as to what do to with it. As has been said before, it ought to be completely transparent.
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  The Searcher

  Faceless, financial experts at Brooklyn are the cause of the Org's money problems and resultant money-grab worldwide, IMO.

  I reckon that their "swimming with sharks" in Wall Street is what nearly got them eaten in the 2008 crash. Perhaps their hedge funds managers gambled too heavily in the futures market/short selling - who knows?

  It just seems totally inexplicable that an organization which had a very sizeable and reliable income stream, suddenly went into a punitive warp-drive to accumulate more cash, and at the same time slashed expenditure in personnel, Branch facilities, and literature production & distribution!

  On paper, the Org should be drowning in money - but we're told it needs more!!!

  It screams potential "bankruptcy" to me - but maybe I'm too much of an optimist!
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  stan livedeath

  yep--lots of speculation about it. no doubt one of our aspiring writers on here could knock up a good novel.
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  John Aquila

  It just seems totally inexplicable that an organization which had a very sizeable and reliable income stream, suddenly went into a punitive warp-drive to accumulate more cash, and at the same time slashed expenditure in personnel

  Something smells!

  The child abuse lawsuits amount to less than 50 million, but the society is pulling in Billions. Some one is either skimming of the top, or the WT has to pay off bribes.
  
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  blondie

  They do hire outside non-jw

  legal people

  construction people (for things bethel staff have proven to be inept at for sure)

  The WTS does not own or run a bank so they have to work with non-jw if no competent jw available
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  Finkelstein

  The WTs was built up on deception, so too is their financial outward appearance.

  For example the WTS has never been richer but they say they are strapped for cash and need more.

  Since the WTS has never opened up its financial books to the body of its members , there is an attempt to be dismissive to the known readily available facts which are being intentionally concealed.
  

  Well if you have people blindingly following you as some uniquely special seer to god, you might as well take advantage of that illusion toward more exploitive means and that might be finance.
  
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  Saintbertholdt

  Their financial advisers are Merrill-Lynch.
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  John Aquila

  Well if you have people blindingly following you as some uniquely special seer to god, you might as well take advantage of that illusion toward more exploitive means and that might be finance.

  Yep, that could be the case. As the saying goes"You got to get it while it's hot"
  
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  Etude

  I was just talking about this with a friend yesterday. I know that when i was at Bethel in the mid 1970s, money was rolling into the WTBTS. The building and volunteering seemed at an all-time peak. But the question that I'm don't know the answer to is if the KHs belong to the WTBTS or not. I had heard that when a congregation wants to build a hall, the WTBTS gives them a loan. The congregation pays it back, in time. But what happens to the property?

  Etude.