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"Mitt and Ann Romney's charitable foundation gave $4,325,000 to the Mormon Church in three hefty installments in 2003, 2008 and 2009," ... "That was 74 percent of their foundation's donations from 2002 to 2009, during which time the couple gave a total of $5,854,916 to charity." (Source)
What isn't disclosed, however, is what Mormon Inc. gave to Mitt Romney (Besides being a shill for the Republican Party and the Romney for President Campaign through the Deseret News and Deseret Book), Romney also allegedly had the inside track on managing Mormon Inc's. financial resources. I reported this in my blog that was deleted by Google (at Romney's request?):
"Citibanks toxic derivatives, which forced the bank's subsequent collapse, were fraudulently transferred to a Salt Lake City "Key Bank" in order to make Citibank look better during the recent audit. Reportedly, Romney is working with the White House and Fed, to move these toxic assets into the LDS Church's investment portfolio.
These toxic derivatives would place trillions of dollars of liabilities on the Church's books. Derivatives are responsible for the largest transfer of wealth in the World's entire history. Estimated at $1,000 trillion dollars outstanding in the global market. In this one case, Romney would become a major player in helping to loot the LDS Church!" (Source)
Romney's possible link to money laundering for the drug cartels and the intelligence communities also deserves further investigation:
"Romney operated "offshore" shell companies to help investors avoid paying taxes. Sadly, such entities have also been used for laundering money for Illuminati/CIA narcotics operations. The locations of these funds raises a "red flag" . The fund was also investing in our stock market, another favorite way to launder drug money.
"In Bermuda, Romney served as president and sole shareholder for four years of Sankaty High Yield Asset Investors Ltd. It funneled money into Bain Capital's Sankaty family of hedge funds, which invest in bonds and other debt issued by corporations, as well as bank loans." (Ibid)
Looks like Mitt Romney and Bain Capital helped engineer the global collapse:
"Established in 1984, Bain Capital is one of the world's leading private investment firms with approximately $60 billion in assets under management. Bain Capital's affiliated advisors make private equity, public equity, venture capital, leveraged debt asset, and global macro asset investments across multiple industries and sectors. Since inception, Bain Capitalís competitive advantage has been grounded in a people-intensive, value-added investment approach that enables the firm to deliver industry-leading returns for Bain Capital investors.
The Bain Capital Private Equity is headquartered in Boston, with offices in New York, London, Munich, Mumbai, Hong Kong, Shanghai, and Tokyo. Sankaty Advisors, the credit and fixed income affiliate of Bain Capital, is one of the nation's leading private managers of high-yield credit with approximately $19 billion in committed capital. with approximately $19 billion in committed capital. Sankaty invests in a wide variety of securities, including leveraged loans, high-yield bonds, distressed debt, mezzanine debt, credit default swaps, structured products, and select equity investments. Absolute Return Capital (ARC) is the global macro affiliate of Bain Capital and commenced trading in 2004. ARC manages assets in fixed income, equity, commodity, and currency markets." (Source)
In 2008, it was reported that Sankaty advisors lost a whole lot of money:
"Some high profile credit investment funds of private equity firm Bain Capital LLC are facing losses of as much as 50 percent, the Wall Street Journal reported on Thursday.
The firm's credit affiliate, Sankaty Advisors LLC, has lost between 40 percent and 50 percent across two funds that bought up highly secured corporate loans, people familiar with the matter told the paper." (Source)
A whole lot of institutional investors took the hit:
"Some of these institutions include Harvard University, the Massachusetts Institute of Technology and the University of Notre Dame, the Journal said.
All these institutions have some money invested in Bain's money-losing credit funds, two of which include Sankaty's Special Situations and Prospect Harbor..." (Ibid)
Which brings us back to Mormon Inc., Beneficial Life Insurance and Deseret Management:
"Beneficial has seen its investment portfolio decline significantly due to its exposure to mortgage-backed and other structured securities, resulting in losses of $600 million over the past two years. Deseret Management had to infuse $594 million into Beneficial to make up the deficit." (Source)
Beneficial Life is owned by the Mormon Church through Deseret Management. As a Non-Profit, Mormon Inc., does not have to disclose all of its financial holdings to the General Membership of the Church. In essence, Church leadership can conduct business without any accountability, and is free to expose Mormon Inc., to whatever risk brings the greatest short-term gain.
While the Church leadership counsel's Church members to avoid debt and stay away from risky investments, it seems to be living by a completely different set of rules, with sacred money that originated with members' tithes and offerings. Mitt Romney gave the Church a few million dollars, the Church needs to disclose exactly what they gave Mitt Romney in return. It would be interesting to know how much money their poster child's investments cost Mormon Inc.
Perhaps the billions of dollars in over-runs on the Mormon Inc. Mall being built in downtown Salt Lake City are being used to cover up some of these losses. Only an audit from an outside source, say the FBI's White Collar Crimes Division, would tell the whole story.
Don't hold your breath.
Mormons that think their Church is solvent, and able to meet increasing demands on its Welfare Programs, will soon find out what the consequences of their blind obedience really means. God is incorruptable. Man is not. Any man that follows another blindly, while thinking he is doing God's will, is the biggest fool of all.