Posted by:
The 1st FreeAtLast
(
)
Date: October 04, 2013 07:36PM
Bloomberg Businessweek reported in July 2012: "According to U.S. law, religions have no obligation to open their books to the public, and the LDS Church officially stopped reporting any finances in the early 1960s. In 1997 an investigation by Time used cross-religious comparisons and internal information to estimate the church’s total value at $30 billion. The magazine also produced an estimate that $5 billion worth of tithing flows into the church annually, and that it owned at least $6 billion in stocks and bonds. The Mormon Church at the time said the estimates were grossly exaggerated, but a recent investigation by Reuters in collaboration with sociology professor Cragun estimates that the LDS Church is likely worth $40 billion today and collects up to $8 billion in tithing each year." (Ref.
http://www.businessweek.com/articles/2012-07-10/how-the-mormons-make-money#p3)
Reuters reported a month later: "Relying heavily on church records in countries that require far more disclosure than the United States, Cragun and Reuters estimate that the Church of Jesus Christ of Latter-day Saints brings in some $7 billion annually in tithes and other donations." (Ref.
http://www.reuters.com/article/2012/08/12/us-usa-politics-mormons-idUSBRE87B05W20120812)
TIME Magazine reported in Aug. 1997: "With unusual cooperation from the Latter-day Saints hierarchy (which provided some financial figures and a rare look at church businesses), TIME has been able to quantify the church's extraordinary financial vibrancy. Its current assets total a minimum of $30 billion. If it were a corporation, its estimated $5.9 billion in annual gross income would place it midway through the FORTUNE 500, a little below Union Carbide and the Paine Webber Group but bigger than Nike and the Gap." (Ref.
http://content.time.com/time/magazine/article/0,9171,986794,00.html as well as the full article text at
http://lds-mormon.com/time.shtml)
Prior to this century, Mormonism was an increasingly successful fraud. Since the advent and huge expansion of the Internet, however, and the creation of several illuminating websites with 'faith'-busting info. about JS, early church history, and the ongoing LDS swindle, people have been leaving the Mormon Church "in droves" (see the Jan. 2012 Reuters special report at
http://uk.reuters.com/article/2012/01/30/uk-mormonchurch-idUKTRE80T1CP20120130 as well as
http://www.abc4.com/content/news/top_stories/story/Number-of-faithful-Mormons-rapidly-declining/rvih3gOKxEm5om9IYJYnRA.cspx?p=Comments for details).