A simple explanation for the financial changes

by JeffT 33 Replies latest jw friends

  • OrphanCrow
    OrphanCrow

    Money drain. I am with Oubilette on this one.

    It is difficult to move money out of a non-profit corporation. The branch construction and translation offices were a way to drain money out of the WTS and into the pockets of those who supplied the building products, etc. Their building projects are cluster fucks with no real focus other than to buy, buy, buy whatever was needed for those projects. Now the building material sits. And the profits have nicely been banked into the companies the WTS makes deals with.

    The WTS needs to appear to be cash poor. They have heard the footsteps coming for a while now. The land down under will be coming after the WTS for redress payments and the WTS does not want to pay.

    *on a side note...Brian Concannon just dumped some more shares of Haemonetics (again) a few days ago...jus' sayin'...and Taurus Investments is really, really quiet.

  • Fisherman
    Fisherman
    The GB does not handle WT finances as NHK did. It is delegated to clever cookies, very qualified to administer WT money. The WT knows what it is doing.
  • Dumplin
    Dumplin

    JeffT: have tried many times to come up with some logical...reason. the answer ..is batshit crazy.

    HA! I too clicked expecting something more from Jeff... but he actually gave a simple explanation of the WTS. And I would hope nothing more is going on....because if there is more to it, then... i had a "crazy" thought:

    what if the joke is on us? If they're up to no good and they know it, and there's nothing anyone can do to stop them...then they probably get a big laugh out of all of us here....i hope i'm not overthinking this b/c i'm really, really sick of them and I would hate to be duped again.

    also had this unrelated thought: does anyone notice other religions making big changes like we've seen recently w/ WT or is this religion unique in this way? If not, why not? Even my JW wife says it's not the same religion anymore.

  • cofty
    cofty

    It's the simplest explanation and it makes most sense.

    I think many ex-JWs give the GB too much credit with all the clever conspiracy theories. They are just a bunch of buffoons and the whole thing is a financial cock-up.

    I also think the pedo pay-outs is not a huge factor.

  • freddo
    freddo

    They do get it spectacularly wrong at times. I mean hiring Monica Applewhite to tell the RAC about how good jw's are at handling child abuse cases really backfired.

    If your advisors - whether financial, legal, property or child abuse - are only interested in keeping their lucrative contracts with you and milking you or if they are jw's keeping their board and lodging and positions of power they will tell you how wonderful you are and agree with you (to your face) when you say you are god's spokesmen, and then you will never get the really needed advice.

    Remember when the yearbooks would tell us how the (worldly) M.A.N. press salesmen and installers would tell them "you really are god's people" or it's "obvious god is directing you!" Sucking at the teat of the cash cow the lot of them.

  • EdenOne
    EdenOne

    The way I see it, this was a monumental money grab scheme, and this is just the final coverup act. They have taken all the available money with the excuse of financing the building of new KH in third world countries. They have sold Bethel homes, consolidated operations and are laying off thousands of bethelites (racking and saving many millions by doing so). They are agressively abandoning printing materials and favoring digital publishing. (More millions saved) ; they are unashamedly asking for more money from the flock.

    And now what? The rank and file would start expecting to see what use would be given to that money. But instead ... Lett's words: "If Armageddon interrupts our plans that will be wonderful ! ". I think this highly emotional card is being played right now. Reshuffle the meetings - the focus is not in training public speakers but training publishers; (The celestial cart is going on overdrive, the Witnesses will conclude); ex-bethelites being reassigned as regular pioneers with the excuse of focusing more on the preaching work. Preach, preach, preach! Stop everything else! They're overtly conveying the message that the GB had some special intel from God that the Big A is nigh, so we must concentrate in the 'final push'. Let's all pioneer! Sounds like 1975 all over again.

    Now we understand what the true purpose of those words in the Watchtower about being strictly loyal and obedient to the GB even if the instructions wouldn't seem sound or logic from a human point of view. This is it. They're not all that crazy, they're pretty rational and methodical and they're following a plan - even if they buy into their own delusions.

    And while the over-excited Witnesses are being kept busy and in mental antecipation of the Big A, the issue of "where did the money go to" will fade off, and the money is already on Org's accounts, waiting to be used for paying off lawsuits or covering up bad investments or frauds. In any case, ensuring their finantial independence for the next decade or two, as they try to figure out a way to survive the draining of talent and donations.

    Eden

  • stan livedeath
    stan livedeath
    i think Satan stole the money.
  • mana11
    mana11

    Gambling donations in money markets Hedge funds and loosing.

  • done4good
    done4good

    I agree 100%.

    They are not well educated. They believe their own BS, (yes, they believe this crazy shit, even though they make it up, think about that...). It was only a matter of time before this blind belief allowed them to make enough bad decisions that it affected their finances.

    They only reason it took over a century is because they had the benefit of tax-free status, while selling their publications, for decades. By 1990, (when their tax-free status was in jeopardy, and they began the "donation" arrangement), they were still sitting on mountains of cash and assets of all classes. 25 years have passed, the donations are not there, and the money supply is not what it was. Add to this a rapidly changing social environment that is not friendly to fundamentalist religious ideals, (and what all of that entails, specific to the WT), and you have the perfect storm.

    This is really the beginning of the end, even if this phase takes another 50 years.

    d4g

  • SecretSlaveClass
    SecretSlaveClass
    Whatever the reasons, it sure is fun imagining the crew in a panic while the ship takes on water.

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