$32 Billion?!?

On Wednesday, MormonLeaks announced that they had connected the church to $32 billion in U.S. stock market investments. [KUTV story.] And how did it figure this out? Ingeniously, actually: it looked at the Form 13Fs for thirteen LLCs to see their stock holdings, and it discovered that domain names matching the LLCs’ names were registered to Intellectual Reserve, Inc., which holds the church’s intellectual property.

So, should you be outraged that the church has at least $32 billion in the stock market? I mean, sure, if you’re a fan of being outraged by stories of religions having money (though frankly, if that’s what you’re in the mood for, maybe this is a better source of outrage). But it’s probably worth taking a minute to figure out what we do and don’t know before going full-throated outraged. [Read more…]

Virtue and Self-Reliance

One summer, my parents’ ward held a special Sunday School class for the kids who had come back from college for the summer.[fn1] The Sunday School class was essentially a basic financial life skills class, the kind of thing that every college student (and most of the rest of us) needs, but that is woefully undertaught. The teacher, a member of the bishopric iirc, was a financial planner. He talked to us about budgeting, about saving, and other simple, practical skills.

I haven’t thought about that class in years, but my memory was jogged as I read (on Twitter) about a combined priesthood-Relief Society lesson on self-reliance. [Read more…]

Wait: the Church Has Money?!?

Every time[fn1] I write about the church’s investments, I get pushback. Usually that pushback involves asserting that there is something immoral or wrong about the church accumulating wealth. The implication is something like, it’s not that the church can’t have money, but it should use its money to promote good things,[fn2] and it should promote those good things now.

Often the justification for this mindset consists of scriptural exhortations to clothe the naked, feed the hungry, etc.  [Read more…]

Your Friday Firestorm #57

And I say unto you, Make to yourselves friends of the mammon of unrighteousness; that, when ye fail, they may receive you into everlasting habitations.

(Luke 16:9)

Discuss.