When Religion Becomes Business
Not so long ago, I came across this article from Pinoy Money Talk that shells out all the Catholic Church’s investments. I’ve been spreading this article (heavily) on all my social media accounts. Would you believe that they have 17 Billion worth of shares from giant companies like San Miguel, BPI and Ayala Corp? Yes 17 with the big B, as in billion! Take note, maybe, just maybe all of their financial investments are TAX-FREE (since they belong to “non profit” religious organizations). Talk about taking advantage of being a religious entity.
We all know that the Catholic Church is filthy rich. It’s no secret. Think about the Vatican and all those flashy churches that are in existence as of the moment. Now this leaves me wondering, since they have these huge assets, how much of these shares go out on all their charitable duties and funded institutions? I mean seriously?
Day to day, mass after mass, they get to collect offertories from the people who barely have anything. And here they are investing like there’s no tomorrow. For what? For claims of helping the poor and the needy? Who are we kidding here? Yes they run hospitals, charities and orphanages but I don’t think it is enough…not for a multi-billionaire!
I’ve even read from a comment that they collect a percentage from small parishes and chapels who are struggling to make ends meet. A huge chunk goes to the diocese while they’re left with bills to pay and more expenses.
Those who come to their defense say it is purely “financial literacy”. It sure is! I say this with all sarcasm. When will it ever stop? They meddle with every government/society issues they could lay their hands on and yet here they are keeping their mouths shut on all their “financial ventures”. I wonder when will people open their eyes. It is pretty much the same as it was during the Spanish times, Church monopolizing everything. Geez! I could talk about this forever!
Click the title below for the full article on Pinoy Money Talk’s
Make sure you read the comments below. It is a fun read I can assure you that. Warning, commenting is not for faint-hearted. It is quite a hot debate going on in there and I had my share of comments made too!
Another interesting post: Are Roman Catholics Christians?
Opinions expressed here are entirely personal. I do not have anything against religion nor Catholicism. I just think this whole scene is unfair.