Mormon Church has $100 BILLION

[SoyLeche]

You're silly.

The Lord never claimed that money was inherently evil - just that we should not seek it at the expense of our heavenly treasures.

1 Tim 6:10

Accumulating money for the sake of accumulating money is immoral. Is that what the church is doing? It's unclear.

I think it's fairly obvious that they could be doing more charitable work with the money than they are (not saying that they aren't donig a lot, just that they have the capacity to do a lot more).

 

[9-10ths_Penguin]

You're silly.

The Lord never claimed that money was inherently evil - just that we should not seek it at the expense of our heavenly treasures.

How does an organization accumulate $100 billion if it isn't "storing up treasures on Earth?"

 

[Watchmen]

Nope.

Curious, but not surprising. There are TBMs out there who think the church can do no wrong.

 

[SoyLeche]

Curious, but not surprising. There are TBMs out there who think the church can do no wrong.

The Catholics say the pope is infallible and no one believes it.

The Mormons say the prophet is not infallible and no one believes it.

 

[9-10ths_Penguin]

Curious, but not surprising. There are TBMs out there who think the church can do no wrong.

TBM?

(To me, it means "tunnel boring machine." I assume that's not what you mean)

 

[9-10ths_Penguin]

The Catholics say the pope is infallible and no one believes it.

The Catholics say that the Pope is infallible under very specific circumstances that have only ever happened twice.

 

[SoyLeche]

The Catholics say that the Pope is infallible under very specific circumstances that have only ever happened twice.

I know. It’s meant to be a joke, and mostly at the LDS person’s expense.

 

[9-10ths_Penguin]

1 Tim 6:10

Accumulating money for the sake of accumulating money is immoral. Is that what the church is doing? It's unclear.

I think it's fairly obvious that they could be doing more charitable work with the money than they are (not saying that they aren't donig a lot, just that they have the capacity to do a lot more).

Assuming that there is a good reason for them to have the money, it probably would help the LDS Church's reputation if its leadership was open and transparent about what they own and what their plans for their portfolio are.

It's the secrecy in the first place that I think raised eyebrows. AFAICT, all the Church leadership has said about why they amassed the money is that it's for "the Second Coming of Christ" and have refused to give further details.

Mormon Church Reportedly Amassed $100 Billion Fund For ‘Second Coming Of Christ’

LDS members here: does this explanation make sense to you? If so, can you explain what this money has to do with the Second Coming?

 

[SoyLeche]

Assuming that there is a good reason for them to have the money, it probably would help the LDS Church's reputation if its leadership was open and transparent about what they own and what their plans for their portfolio are.

It's the secrecy in the first place that I think raised eyebrows. AFAICT, all the Church leadership has said about why they amassed the money is that it's for "the Second Coming of Christ" and have refused to give further details.

Mormon Church Reportedly Amassed $100 Billion Fund For ‘Second Coming Of Christ’

LDS members here: does this explanation make sense to you? If so, can you explain what this money has to do with the Second Coming?

I agree.

the basic idea seems to be that there are many calamities that are supposed to occur before the second coming. The money is intended to help people during those times.

In my understanding the money would be pretty much useless after the second coming.

 

[9-10ths_Penguin]

I agree.

the basic idea seems to be that there are many calamities that are supposed to occur before the second coming. The money is intended to help people during those times.

In my understanding the money would be pretty much useless after the second coming.

That raises even more questions for me, then.

It seems to me that if I were trying to safeguard my wealth in case of "many calamities," I wouldn't invest it in asset classes that would presumably tank when those calamities arise.

 

[SoyLeche]

That raises even more questions for me, then.

It seems to me that if I were trying to safeguard my wealth in case of "many calamities," I wouldn't invest it in asset classes that would presumably tank when those calamities arise.

True.

in the article I linked to at the beginning of the thread they mentioned that the fund list about 20% in the crash of 2008. The market in general went down about 50%, so it’s a bit safer than that. Still risky though.

 

[SoyLeche]

Outside of (I think) the 100B the church also has many other investments in less volatile things - like farms and ranches - that would prove useful in helping provide food and such.

 

[Watchmen]

TBM?

(To me, it means "tunnel boring machine." I assume that's not what you mean)

True believing Mormon.

 

[JesusKnowsYou]

1 Tim 6:10

Accumulating money for the sake of accumulating money is immoral. Is that what the church is doing? It's unclear.

I think it's fairly obvious that they could be doing more charitable work with the money than they are (not saying that they aren't donig a lot, just that they have the capacity to do a lot more).

You are falsely interpreting the accumulation of money as a love for money.

Anyone who wants to amass wealth does not necessarily love wealth. They love what they can accomplish with that wealth.

I don't know why the Church has saved up so much money - but there is no reason to assume that it is immoral.

I also don't like the, "They could do more" argument. Literally everyone could "do more" - but I am in no position to tell you how you could be "doing more" and neither of us are in any position to tell the Church how it could "do more".

The Church's charity work is an appendage to it's actual mission - which is to prepare the world for the Second Coming of the Messiah.

I believe that they time will come - and is not far distant - when the Church will begin to use that accumulated wealth to stockpile needful supplies in order to be prepared for the turmoil that precedes the Second Coming of the Lord Jesus Christ.

There will be meat in the House of the Lord.

 

[JesusKnowsYou]

How does an organization accumulate $100 billion if it isn't "storing up treasures on Earth?"

What do you believe the Lord meant by "treasure" in these verses?

 

[JesusKnowsYou]

Curious, but not surprising. There are TBMs out there who think the church can do no wrong.

What's a TBM?

I never said that the Church could do no wrong. When they do something wrong - I will oppose it.

I just haven't convinced me that accumulating wealth is immoral.

Perchance - are you a Bernie supporter?

 

[SoyLeche]

You are falsely interpreting the accumulation of money as a love for money.

Anyone who wants to amass wealth does not necessarily love wealth. They love what they can accomplish with that wealth.

I don't know why the Church has saved up so much money - but there is no reason to assume that it is immoral.

I also don't like the, "They could do more" argument. Literally everyone could "do more" - but I am in no position to tell you how you could be "doing more" and neither of us are in any position to tell the Church how it could "do more".

The Church's charity work is an appendage to it's actual mission - which is to prepare the world for the Second Coming of the Messiah.

I believe that they time will come - and is not far distant - when the Church will begin to use that accumulated wealth to stockpile needful supplies in order to be prepared for the turmoil that precedes the Second Coming of the Lord Jesus Christ.

There will be meat in the House of the Lord.

You probably missed my parenthetical. If you have a good reason to accumulate wealth (retirement, college for the kids, weathering unforseen events, etc), that's fine. If you are doing it just because you can, that at least borders on immoral.

You have every right to tell me that I could be doing more. I have every right to ignore you. And we both have the right to say anything we want about the church. 100B is a LOT of money. Is it more than is needed? I don't know. Just the interest off of it could allow them to quintuple the charitible giving they do each year though.

I'm not convinced that charity work is an appendage. I would say it should be a primary purpose of the church. See James 1:27.

 

[SoyLeche]

To put it into perspective: At it's best, the US produces about $20B worth of wheat and about $50B of corn in a year. You can feed a lot of people with that, and still have 30B left over.

Total agricultural exports from the US is about $150B.

Total value of U.S. agricultural exports, 2019 | Statista

 

[9-10ths_Penguin]

You are falsely interpreting the accumulation of money as a love for money.

Anyone who wants to amass wealth does not necessarily love wealth. They love what they can accomplish with that wealth.

Anyone who amasses wealth is demonstrating a lack of faith in God.

You have no reason to save money to provide for your needs unless you think God can't be trusted to meet those needs.

I don't know why the Church has saved up so much money - but there is no reason to assume that it is immoral.

They kept it secret; that's one reason.

If the Church acts like what they're doing is shameful, this is an indication that it could very well be shameful.

I also don't like the, "They could do more" argument. Literally everyone could "do more" - but I am in no position to tell you how you could be "doing more" and neither of us are in any position to tell the Church how it could "do more".

Nonsense.

What the LDS Church spends - or doesn't spend - its money on is the business of every taxpayer who's shouldering the burden of the tax breaks it receives. It's certainly the business of everyone who's an actual member.

The Church's charity work is an appendage to it's actual mission - which is to prepare the world for the Second Coming of the Messiah.

I believe that they time will come - and is not far distant - when the Church will begin to use that accumulated wealth to stockpile needful supplies in order to be prepared for the turmoil that precedes the Second Coming of the Lord Jesus Christ.

There will be meat in the House of the Lord.

And the House of the Lord can't rely on God for that meat?

 

[9-10ths_Penguin]

What do you believe the Lord meant by "treasure" in these verses?

I don't think "the Lord" has written a thing. Are you asking me about the Bible?