Quote:
Originally Posted by Indy Coug
Adam continues to make unsubstantiated allegations about the church sitting on billions of dollars that has no purpose other than to generate investment income. I'm not sure that's necessarily true. I've already pointed out that the Church has billions of dollars in assets that they are required to keep in long term investments to directly back business liabilities, like life insurance and annuity policies.
Nor is failing to publicly disclose their finances some de facto admission by the church that 'if people knew what they were REALLY doing with their money, they'd be royally pissed'.
Nor has he really demonstrated that the opening of a homeless shelter would necessarily save lives.
The church pulls in billions each year in tithing and other charitable revenues from its members. There is inevitably going to be a lag between the collection of those revenues and the appropriation of those monies to various church causes. That may create the illusion the church is sitting on a lot more money than they really are.
Bottom line, Adam has offered no factual basis to conclude what he continues to insinuate and there is a good basis to think that it's entirely appopriate that the church has at any given time billions of dollars in investments which is also already spoken for on a number of different fronts.
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wow... I dont agree with you often but you hit it right on the head on this one