The con is completed - comments from the US branch's LDC chief

by sir82 73 Replies latest jw friends

• 

  sir82

  What I can't figure out....

  On this forum we've been speculating for nearly 3 years that the shameless money-grab was to fund a new business model:

  -- Buy property in an up and coming zone

  -- Build an office-style Kingdom Hall

  -- Sell it after 10-15 years of uses at a profit, to a medical facility or retail store that could easily modify the existing structure

  -- Use proceeds to buy another property, repeat steps.

  But the head LDC guy says they're not going to building those new-style Kingdom Halls after all.

  So, they've collected $100's of millions, maybe a billion, from the congregations, plus they've got another $billion or so from the sale of their Brooklyn properties.

  They likely have, or soon will have, collected $2 billion or more.

  They're not using it for their (speculated) "business plan" of real estate development.

  So they're either investing it or spending it - if not real estate, then what?
  
• 

  Darkknight757

  Gold Apple watches?
• 

  JWdaughter

  And this is different from PTL?
• 

  OUTLAW

  $Hundreds of millions collected for the putative reason of a "desperate need for new Kingdom Halls". And now "oh, we won't be building much after all."

  And no one, out of the 2000+ in attendance, even seemed to notice.

  The WBT$ "JW Cattle"..

  ARE HAPPY..

  
• 

  freddo

  @Sir82

  "Cue sound of phonograph needle scratching across the record."

  
  
• 

  blondie

  I've been keeping up for a long time now, have more to remember than some.

  So what is this going to be used for?

  housing workers on Warwick...then it is for temporary purposes?
• 

  sir82

  So what is this going to be used for?

  If you are referring to the Fishkill complex, it sounds like it's going to be a retirement community for very old Bethelites. He even said one of the buildings would be devoted to 24 hour care of the completely infirm, like a nursing home.
  
• 

  Doubting Bro

  That's a really good question, what are they doing with all that cash? I've had a few local folks questioning that as well. Of course, they are saying that we must be getting ready to make a final preaching push or some nonsense. It's amazing how easy it is to rationalize things.
• 

  St George of England

  I think this was outlined in the video posted by WiFi bandit some weeks ago:-

  https://youtu.be/ZmWH3kjNfG4

  George
• 

  Londo111

  Of course, it's a sensible plan to use what they have, rather than build new buildings. It shows there is no real growth in the US, and in English territory, negative growth--tens of thousands have left. Only Spanish is keeping the US numbers afloat.

  Could it be they were planning on building all sorts of new Kingdom Halls, but ran out of liquidity to do so? Or was it a drive to find money to take money from more affluent territories to build Kingdom Halls in the less affluent places where there is growth? Are there elements in Watchtower that are diverting funds to offshore accounts for personal benefit? Or is it just a very poorly managed business by people with no experience?

  There are more questions than answers. It is an organization with zero transparency. I remember watching part of the broadcast about the LDC where the men talked about "pulling back the curtain". Why have a curtain to begin with? The children of the light do their works in the light.