Nice Mall, Harvard Endowment Right, DAN discussed on Thank God I'm Atheist
Bit because I have someone to think before you get your someone to think. Bridget has become a faithful listener. Mehran pay pal fantastic. Thank you so much bridget. But we have a new faithful a listener over unpatriotic okay Kale Kale sale now. At least to find people did they went to automate theus Dot Com and click on support town clicked on the Dan and frank. Love me more tab. And then they signed up For whichever platform you. They felt better for them. And a level that the fits. What how they're looking at sports shop and if you're if you do over the Patriots there different levels of rewards and gain access to an retrievers show etc and of course you always get our undying thanks near speaking of wish speaking of which we do have our Lord and Savior our top donor? Dan Uh thanks guys the Franklin. Oh my God oh Franklin Listen I know as soon as everybody saw this story. They all knew we would have to talk about it. We being a former Mormons or foreman's ourselves. Yeah when this story broke the Washington Post. Yeah that a whistle blower had decided to blow the whistle on one of the Church of Jesus Christ of Latter Day Saints Auxiliary Companies. Right of which which they have several right. It's big news. Yeah and the big. The big headline was the number the this whistleblower throughout which is apparently backed up by a whole bunch of a of supporting documentation. Yeah that this one. One enzyme peak advisers which is a tax exempt subsidiary of the Church of Jesus Christ latter-day established as a charity established ellison as a charity is hoarding. Yeah like the Dragon. Hundred hundred billion dollars. Unbelievable I mean. It's perfectly believable food. You know that that that number doesn't surprise you too you much right except that one hundred billion dollars is just a lot of money no matter who you hear it from doesn't matter where what it's about like right but you got but just to throw it a little bit of perspective that is essentially. It's I think it's slightly more money than if you were to combine the Harvard Endowment Right and the bill and Melinda Gates Foundation's funds right and I believe it's at somewhere like it's still just slightly more. Yeah and it's like what in the fuck are they up to right but the But the reporters found out what they're up to they're saving for the second cut. Prices are up to fuck all. This is amazing. Because there's you know Dan the shirt. Yeah they legitimately said that this money is not for you know paying paying for the church which they could do with the proceeds from this this one fund they could actually fund the Church right. Yeah exactly never into never taken the dollar of tithing money ever again and still be fine. No no this fund is for the second skin coming of Christ. Well let me tell you what it's four have you ever. Have you ever put on a second coming of of Deity because it's an Expensive affair it takes. It takes a lot of smoke machine. You gotta be is you gotta you gotTa have cameras in in Jerusalem. You gotTa have cameras in Moscow. You gotta be all over the world. It is an organized satellite feeds. Oh every which way lasers you're GONNA you're GonNa just I mean the fireworks budget. Oh my God God no kidding and I think you gotTa do it for the full millennium just keeps going okay so what we have here and just so if you didn't hear about this. The reason that a whistle blower matters in this case. Is that the whole point in this country anyway of FHM check quote unquote charitable organization or with religious affiliation. Which means that they they have the they have is that they have go? They have a mission. Yeah a charitable mission and all of the money that they bring in or at least a the money that they have must be used used. Yeah four that charitable mission and in like like inner proportionally viable way to their holdings correct act and there is some again some of the things. I've gathered It it's a loose definition. They're like it's not like the they say it must be X. percentage and more like it's just sort of understood you have a mission you go about uh-huh using these funds for that mission. Yeah right and it doesn't have to be like some vast like it doesn't have to be like a majority of the money we know right now. I mean just has to be a significant amount to to show that you are legitimately a charity right. Well let's just back up a little bit. How much money of this has have they ever used from this fund for Charity? Dan I can. I can actually give you that exact figure off the top of my head all really a normally. I'm not good at that because numbers kind of bounce off of me like I made a rubber but in this case I can't give you that number because it is zero. They've never paid out not anything. No in fact the only expenditures that they've had and this is where they also have a major major. Major problem is that they I used about two billion dollars from this fund to prop up two different church owned companies one. These are for profit for profit the company so this is completely inappropriate unless they kept it as they could have given them loans. They kept it as a liability on their on on their books but they didn't just gave gave them the money and so so that. So apparently the insurance Company Yeah Beneficial Life Insurance Right got. I can't remember what they said. It was over half half a billion dollars in the hundreds of millions hundreds of millions. Wasn't it yeah because the mall that they hadn't finished building yet that it was a bad time. Yeah research served three session. And you know there were overages and so they spent an extra one point. Four billion dollars is on the mall. Now guys if you ever come to Salt Lake City is a really Nice Mall. It's fine it. All Malls River goes through it with with the stocked with trout. I guess what I mean by a Nice Mall is that you can see every dollar spent on it. Oh Yeah you you know what's a yeah it is. It is inexpensive mall. Yeah it's a it's a mall that you don't even know if it's an indoor or an outdoor mall. Do tractable roots retractable roofs. Yeah it's basically a sports stadium for shopping. The sport for some people it is. You've movement my wife. We know anyway but the point is the point. Is that an enzyme. Peak Advisors It's not set up as a as a bailout for For that they're set up to as a charitable organization as an pigs in the mall. They were needy. It was so it was needed and same with the but get this. Did you pick up on the details about beneficial life. So the church like like it is a known thing. The recession hit the beneficial. Life was really exposed with like some bad like investments that they had done and they were in deep all that mortgage crap That you know 'cause economy to tank and so that's that's what that's why they had to be built out well. Nobody really knew how much money the church just dumped. In and so the heads of beneficial life took the opportunity to layoff like fifty percent of the company. They didn't have to know they just got hundreds of millions of dollars just pumped into them and now let's just lay. We asked people to the Church owned company. Yeah so okay the Church did this the Catholics. We talked about a couple of weeks ago. We I just found out that they're they're big charitable wing. Down had also just been funneling money. They they weren't hoarding it. They you were just funneling it into like well into the either there. There's some cardinals that are on some some ships right now very happy with their. They're your ships right. Yeah Yeah but when you have an endowment this large. Leave it to the Mormons Norman's at least somebody go off and be a playboy in on the Mediterranean at least the card the Catholics. No that much hoarding this much money. It's unconscionable for an event that they don't know when it'll happen right I mean I don't believe that that's what they were thinking. That thing is no one's trying to deny you from having a rainy day fund or from having a big as Mitt Romney he put it a rainy decade fund right and I was actually like well done Mitt Romney. Yeah he was like. I think it's good. I think it's good. They have a rainy day fund. Well in this case may be arranged. Yeah one hundred billion that last year a while. Yeah it's it's like you know no one saying you can't. You can't have money because as somebody pointed out that I read. Charity is a cyclic. Is a counter-cyclical thing when things get worse for people when people need the most charity. That's when the least money comes into the charity. You know what I mean. So it's like sure so so yeah you need. You need to be ready for that mind you are. They doing charity work with no right. Even if they were using this all they would be doing is building living more churches building more temporaries. So here's the deal. The church had an official response to this whole thing. And while they denied that they've done anything wrong tax wise and this and that Blah Blah Blah. There are a couple of things that stood out. They never anywhere in the statement. said it's this. This on is ludicrous. No they never denied the south. Oh I feel like the some has been confirmed by the their failure to address it and then the other thing is that they once again brought up the amount of charity work that they do right which is in some of about forty you to fifty million dollars a year which is A. That's a great some but if you look at the so the guy this whistle blower he says that this fund and this is a billion dollar fund has a return rate an annual return rate of about seven percent right. Yeah you could. He's really give away a couple of billion dollars a year and this thing would be perfectly fine it would keep growing. It'd be feeding inflation nations. That's a concern. When you have that much money right like like they would be fucking fine away literally literally billions of dollars a year? Yeah one of the greatest forces private forces for humanitarian aid and support. That has ever have been known. It would be the greatest one ever and they haven't done it they haven't done Jack. Shit here's the thing is already million dollars of charity work which they also include their own internal numbers in that right. Yes the support that they're giving to their own memo. They don't really have much support to anyone but their own member like this. It's doing administrational occur. Hurricane thing right Some aid whatever. Yeah they literally with if you've got one hundred billion dollars sitting around and you are giving away forty million and your mission quote unquote mission is charity. You have you are L. Satan miserably. You are evil because that because you're right even if they just wanted to maintain an insane amount of of maintain grow yeah they could easily let keep growing obscene numbers. And then maybe maybe it's three billion a year because maybe then it's five billion right because they have that much goddamn fucking money because forty million dollars is nothing. Four hundred million dollars is nothing. We're talking about. They could give away four thousand million dollars. Yeah that's insane. It's infuriating and and also by the way lest anyone be a dancing to happily at the news of this whistle blower yeah. It's unlikely that anything's going to actually happen right. The you know the irs irs has been alerted. They've been given supporting documents they now.