₦airaland Forum

[quote author=pilgrim.1 link=topic=113108.msg3902108#msg3902108 date=1242920395]I'm not worried at all about what tires you, as it appears you've been inconsistent about this issue from the onset. If it is certainly "perfectly okay" for CHRISTIANS to TITHE (10% or ANY percentage of their income to the CHURCH), what then has been the quarrel you have about other people preaching that very same thing? Your problem is to make tithe-preachers into fraudsters and you have this idea that your own parlance is not as skewed as theirs - which is why I keep asking that same question. If you cannot point out what you see as "perfectly okay" from Scripture, just where did you get that idea from, and yet condemn that same thing in others who preach tithe in Churches? The same things you have been mentioning is what they have been mentioning - "income". . "tithes". . ."any percentage". . . "to the church". . . "out of their own desire", etc. So, just what is your cark if these fellows are preaching the same thing as you make "perfectly okay"? If it is a "grievious evil" on their part for saying the same things as you affirm, you also need to join them in the repentance that you recommend. Don't you think so?[/quote]I see you have decided to be very dis-honest in your dialogue, as i have repeated several times it is okay if the giving is being done from the free will of the tither and he is not being manipulated into doing it. I don't critisize any form of christian giving it is the manipulative and unscriptural way that tithing is preached that i condenm in all it's ramifications. If you don't comprehend the english i have written here maybe you should get someone to explain it to you cause i am almost certain that you would still try and confuse issues on this topic again, then again maybe you are trying to confuse other readers by trying to give them an impression that i am not consistent


[quote author=pilgrim.1 link=topic=113108.msg3902108#msg3902108 date=1242920395]Excuse me, are you reading ANOTHER Bible? Or do you have TWO different Lords?  What do you understand by "Even so hath the Lord ordained that they which preach the gospel should live of the gospel" (1 Cor. 9:14)? Is that a different 'Lord' from the Lord Jesus Christ in the Gospels? I don't see how your excuse underscores anything here for you though.[/quote]Have you ever heard of the Lord God almighty?


[quote author=pilgrim.1 link=topic=113108.msg3902108#msg3902108 date=1242920395]Lol, look at the above of what you have "always maintained". . . and compare it to your assertion that Christ did NOT teach us to give in church. I'm not making any inference, just asking you to be clear, that's all.[/quote]Please state one single bible passage were Jesus himself taught that we should give to the church. Mind you i am not saying we shouldn't give to the church.

[quote author=pilgrim.1 link=topic=113108.msg3901773#msg3901773 date=1242917376]No, the onus is on you to show us from the Scriptures clear directives to Christians when you said it is "perfectly okay" for them to tithe, going so far as to say that such a Christian "is tithing or giving whatever percentage of his income to the church out of his own desire to contribute to the church". You cannot be opposing in other people the very same thing that you have acknowledged as "perfectly okay".[/quote]I am tired of you trying to quote my above stated statement out of context, i have consistently told you that my problem is NOt with giving to the church[ call it tithes, offerings or whatever] my problem is with the deception that supposed men of God preach it as compulsary 10% of our income and the twisting of the word of God to support a fraud against his children, this i consider a very grievious sin and all those who have been preaching this evil seriously need to repent.

[quote author=pilgrim.1 link=topic=113108.msg3901773#msg3901773 date=1242917376]Nope, the Bible would not be wrong, but you will be. You cannot bend the veracity of Scripture to your own idea, so that when you are pointed out as being wrong, you then try to fault the Bible.[/quote]I cannot be wrong as all my submissions are 100% based on undiluted scripture unlike tithe preachers who have to twist the bible and meaning of scriptural tithes to justify their greed. So if you don't agree with me you are inadvently saying the bible is wrong and your greedy pastors are right.

[quote author=pilgrim.1 link=topic=113108.msg3901773#msg3901773 date=1242917376]Half truth is a very dangerous thing. Christ taught giving BOTH to the poor and to the Church. To say that Christ's teaching did not involve giving to the Church would mean you either are deliberately ignoring what Scripture teaches or are simply uninformed about what it says on this matter. Refresher: ~ 1 Corinthians 9:13-14, at least there you find an example of what the Lord taught as giving in the Church, something which He "ordained". Also, if giving in Church is not taught for Christians, then where is the funding for the wages/salaries of Godly elders to come from (1 Tim. 5:17-18)?[/quote]There is no half truth in what i posted i quoted Jesus whilst you quoted paul. There is no were in the gospels that Jesus preached on giving to the church. The only time he spoke about it was when commenting on the widows mite and peter asked him about payment of temple tax [matthew 17:24-27] whilst paul was purpotedly quoting from old testament laws concerning the temple.He could even have been quoting jesus and that is not a propblem as i have always maintained that it is okay for christians to support the church but church leaders should also endeavour to follow pauls example in 2 thessalonians 3:6-10, in this way there would be more money for the church to spend on their main mandate which is to help and assist the poor and needy and the church would be actually impacting on the society.

2 Thessalonians 3:6-10:
6 And now, dear brothers and sisters, we give you this command in the name of our Lord Jesus Christ: Stay away from all believers who live idle lives and don’t follow the tradition they received from us. 7 For you know that you ought to imitate us. We were not idle when we were with you. 8 We never accepted food from anyone without paying for it. We worked hard day and night so we would not be a burden to any of you. 9 We certainly had the right to ask you to feed us, but we wanted to give you an example to follow. 10 Even while we were with you, we gave you this command: “Those unwilling to work will not get to eat.”

initiate:
mr kunle,

supposing you are wrong you would have led so many people astray so please be careful

The onus would then be on those who have twisted the real meaning of biblical tithes to show how any of the several scriptures i quoted is wrong or how my understanding of the scriptures is wrong. [I also hope they would not give me that crap that i need the holy spirit to interprete the scriptures to me] as this is the usual line they use when they want to twist the scriptures.

[quote author=pilgrim.1 link=topic=113108.msg3901682#msg3901682 date=1242916555]This is why we need to be very careful in drawing conclusions. Of course, everyone would like to say that what they have asserted is "100% from the Bible. . . undiluted" blah-blah-blah. This is not the case in every instance, and some of those flawed assertions have been examined and retired because they cannot be defended.[/quote]Exactly we have to be very careful in drawing conclusions, as there is no direct biblical evidence to support the way tithes is preached and practised today we should just not conclude that since a pastor said it it must be right or it is the will of God. we should actually study the scriptures ourselves like the berean christians did to be sure we are not being deceived.

UFOs exist, there is more than enough documented evidence spanning several years that prove this, the only controversy is who the actual occupants of the flying objects are, whether they are alien craft or secret military aircraft.

It still beats my imagination how people are able to fall for this very obvious scams!!

Nice to know that, you can send me a mail and i would let you know how we can hook up. My address is on my profile. Please note that i am based in lagos.

initiate:
Scripture records several ceremonial obligations, such as the law of animal sacrifices, which are no longer binding upon the New Testament church (Heb. 9:8–10). These were types that were fulfilled by Christ at his first advent. However, tithing was instituted for a specific purpose and not as a type. The Apostle Paul presented no argument against tithes as he did repeatedly against the ceremonial issues of the law (ex. meats, holy days, new moon feasts, Sabbath days, circumcision, etc.). Jesus himself even commended people for tithing (Matt. 23:23). There are many scriptures in the New Testament showing where the ceremonial law of God was fulfilled and no longer applicable to the church, but there is no scripture stating that tithing in no longer necessary.

T

The above quoted is a very poor lie as there is scriptural evidence that Apostle Paul condenmed tithing and described it as a weak and useless commandemnt in hebrews 7

Hebrews 7:5-19:

5And verily they that are of the sons of Levi, who receive the office of the priesthood, have a[b] commandment to take tithes[/b] of the people according to the law, that is, of their brethren, though they come out of the loins of Abraham:

6But he whose descent is not counted from them received tithes of Abraham, and blessed him that had the promises.

7And without all contradiction the less is blessed of the better.

8And here men that die receive tithes; but there he receiveth them, of whom it is witnessed that he liveth.

9And as I may so say, Levi also, who receiveth tithes, payed tithes in Abraham.

10For he was yet in the loins of his father, when Melchisedec met him.

11If therefore perfection were by the Levitical priesthood, (for under it the people received the law,) what further need was there that another priest should rise after the order of Melchisedec, and not be called after the order of Aaron?

12For the priesthood being changed, there is made of necessity a change also of the law.

13For he of whom these things are spoken pertaineth to another tribe, of which no man gave attendance at the altar.

14For it is evident that our Lord sprang out of Juda; of which tribe Moses spake nothing concerning priesthood.

15And it is yet far more evident: for that after the similitude of Melchisedec there ariseth another priest,

16Who is made, not after the law of a carnal commandment, but after the power of an endless life.

17For he testifieth, Thou art a priest for ever after the order of Melchisedec.

18[b]For there is verily a disannulling of the commandment going before for the weakness and unprofitableness thereof.
[/b]
19For the law made nothing perfect, but the bringing in of a better hope did; by the which we draw nigh unto God.




I would also like you to clap for your self as i have observed that you are quite adept at quoting the bible out of context. But let me ask you one simple question, how does the bible define tithes?? Please quote scripture to back your claim.

initiate:
mr kunle,

i have observed that you have done so much indepth study on this topic, but let us look at it from another angle.

supposing you are wrong you would have led so many people astray so please be careful

suppose you are right; even at that, there is eternal benefits in sowing into the kingdom, and the tithe would just be added to the eternal account of the tithers

moving forward could you do another comprehensive study on how to get to heaven and enlighten us on your findings

it is well with you my brother

As i have quoted completely from the bible[undiluted] i am quite certain i am not wrong. It is tithe preaching pastors that dilute the scriptures and to justify their collection of tithes and the onus is on them to show us from the scriptures clear directives to christians to tithe[i.e 10% of their income to the churchas opposed to the biblical tithes which is 10% of the produce of the land to be consumed by the tither, his family, the less priviledge and the levites]

ps: If you suppose i am wrong, then you are inadvently saying the bible is wrong cos all i say is strictly from the bible.


On the issue of sowing in the Kingdom, how does Jesus teach us to give to God? Sowing in the kingdom from the perspective of christ was giving to the poor and the needy and NOT giving to the church. If you really want to give to God, give to the needy around you and then you would be sowing in the kingdom this is what Jesus christ teaches. The scripture below addresses the issue further:

Matthew 25:35-40:
35 For I was hungry, and you fed me. I was thirsty, and you gave me a drink. I was a stranger, and you invited me into your home. 36 I was naked, and you gave me clothing. I was sick, and you cared for me. I was in prison, and you visited me.’
37 “Then these righteous ones will reply, ‘Lord, when did we ever see you hungry and feed you? Or thirsty and give you something to drink? 38 Or a stranger and show you hospitality? Or naked and give you clothing? 39 When did we ever see you sick or in prison and visit you?’

40 “And the King will say, ‘I tell you the truth, when you did it to one of the least of these my brothers and sisters,[a] you were doing it to me!’

Pastor AIO:
Man, I'm drooling here just thinking of all the good stuff that you are studying.  Keep it up.

Same here i really wish i had the opportunity to study and understand the world's major religions and their history. The differences and the similarities. I am also curious as to why God did not reveal himself to mankind the same way thus leading to one universal religion and understanding of the nature of God.

maddock:
Kunle you don go back to your old way of reasoning again, the other time i was commending you o. Let me take up on some of your points below,just for arguments sake.

You failed to include verse 3 and 4 before jumping to 5
6:3 whosoever teaches a different doctrine and does not agree with the true word of our Lord Jesus Christ and with the teaching of our religion
6:4 Is swollen with pride and knows nothing. He has an unhealthy desire to argue and quarrel about words, and this brings on jealousy,disputes,insults,evil suspicions
6:5 and constant arguments from people whose minds do not function and who no longer have the truth. GNB

I really do not see how all these describe Oyedepo.

Thanx for including the verses above apparently verse 3 says it all "teaches a different doctrine and does not agree with the true word of our lord Jesus christ" Now my question is this : since when did prosperity gospel[which oyedepo is known for] become part of the doctrines taught by our lord Jesus christ or any of the apostles. Please supply clear cut srciptural evidence which are unambiguous and subject to manipultion.

The idea is to compel churches to spend their revenue on charity which is what they are morally, constituitionally and spiritually meant to be doing. The truth is that it is a criminal offence for preachers to make profit out of church money but this as becom the norm and church memebrs who should speak up against this evil acts are actually the ones justifying it on behalf of the crooks. From what i learnt only churches that are not spending adequately on charity would be made to account for their revenues and andpay taxes if need be. i really thin thisis a good development, at least it would make those demi-gods more accountable and responsible to the poor and needy that they are supposed to spend the money on in the first instance.

loma:
Plagiarism!


The above is an article I wrote in early April. Haba!

https://www.nairaland.com/nigeria/topic-259381.0.html

As if you are the original writer of the article, you could as well have added the source you plagiarzed it from.

@Pastor AIO& Negro nts
You guys are derailing this thread, i had hoped to learn a lot about IFA from this thread so please keep the knowledge flowing.
@Negro nts
Could you be more specific in your analogies explaining IFA principles applicable to quantum physics? I do understand there could be some correlation but i would appreciate if you were more specific the "metaphysics" analogy was not clear enough.

maddock:
Oyedepo as a man is a very intelligent in his own right and has the tendency to be even richer than Dangote had he not harken to the calling of God, so also other Pastors. We should respect them for who they are, pastor or no pastor. QED

The difference here is that dangote is making money from his legitimate businesses and acumen even though he might have some unscroupulous business tactics whilst Oyedepo who claims to be a christian is making money by deceiving christians and taking advantage of their poor understanding of the scriptures.

mactao:
Are you a christian? If yes, do you believe in the Bible? If yes do you agree that God can bless Bishop Oyedepo with or without offerings and tithes? Obeying God is the condition for getting blessed, and if Bishop Oyedepo obeys God, why should his blessings now be a function of his congregation's givings? Relationships with God are personal, not a function of someone else's opinions or delusions.

\
One thing we are certain of Oyedepo is certainly NOT obeying God, not with the fraudulent version of prosperity preaching he is known for. Prosperity gospel certainly as no basis in christianity these crooks are just telling people what they want to hear. Here are a few scriptures to buttress my point:

1 Timothy 6:5:
5 These people always cause trouble. Their minds are corrupt, and they have turned their backs on the truth. To them, a show of godliness is just a way to become wealthy.--------------------------------------------------------------------------------
1 Timothy 6:10-11:
10 For the love of money is the root of all kinds of evil. And some people, craving money, have wandered from the true faith and pierced themselves with many sorrows. 11 But you, Timothy, are a man of God; so run from all these evil things. Pursue righteousness and a godly life, along with faith, love, perseverance, and gentleness.
--------------------------------------------------------------------------------
1 Peter 5:2-3:
2 Care for the flock that God has entrusted to you. Watch over it willingly, not grudgingly—not for what you will get out of it, but because you are eager to serve God. 3 Don’t lord it over the people assigned to your care, but lead them by your own good example.
--------------------------------------------------------------------------------
Romans 16:17-18:
17 And now I make one more appeal, my dear brothers and sisters. Watch out for people who cause divisions and upset people’s faith by teaching things contrary to what you have been taught. Stay away from them. 18 Such people are not serving Christ our Lord; they are serving their own personal interests. By smooth talk and glowing words they deceive innocent people.
--------------------------------------------------------------------------------
1 John 4:5:
5 Those people belong to this world, so they speak from the world’s viewpoint, and the world listens to them.

woleb:
Amen to that,  brother in Christ, however[b] l[/b]ove is something the sarecens ie muslims DON'T HAVE, 

Jesus is LORD MohaMAD is DEAD

i can asure you, you won't be winning any souls for christ or propagating christianity by using the term highlighted above to describe another faith's religious leader.

woleb:
My friend, propagation of Christianity is the grandest thing a human can ever give / do for a fellow human being, particularly those in need


JESUS IS LORD , [i]MOHAM[/i]MAD IS DEAD

Well according to the bible the greatest thing a human can ever give is love[1 corinthians 13:1-13], even if you are trying to propagate christianity you should do it with love and not just to fufill all righteousness. It is very that that most of us that profess christianity don't show this genuine love to others and we behave like self righteous pharisees contrary to the teachings of christ.

1 Corinthians 13:1-13:

1 If I could speak all the languages of earth and of angels, but didn’t love others, I would only be a noisy gong or a clanging cymbal. 2 If I had the gift of prophecy, and if I understood all of God’s secret plans and possessed all knowledge, and if I had such faith that I could move mountains, but didn’t love others, I would be nothing. 3 If I gave everything I have to the poor and even sacrificed my body, I could boast about it; but if I didn’t love others, I would have gained nothing.

4 Love is patient and kind. Love is not jealous or boastful or proud 5 or rude. It does not demand its own way. It is not irritable, and it keeps no record of being wronged. 6 It does not rejoice about injustice but rejoices whenever the truth wins out. 7 Love never gives up, never loses faith, is always hopeful, and endures through every circumstance.

8 Prophecy and speaking in unknown languages and special knowledge will become useless. But love will last forever! 9 Now our knowledge is partial and incomplete, and even the gift of prophecy reveals only part of the whole picture! 10 But when full understanding comes, these partial things will become useless.

11 When I was a child, I spoke and thought and reasoned as a child. But when I grew up, I put away childish things. 12 Now we see things imperfectly as in a cloudy mirror, but then we will see everything with perfect clarity.[c] All that I know now is partial and incomplete, but then I will know everything completely, just as God now knows me completely.

13 Three things will last forever—faith, hope, and love—and the greatest of these is love


The above passage makes it clear that it is our number one christian duty to love others. The reality of this i know is very difficult but i believe as christians we should all strive to do this. the truth is that if others see christ[love] in us they also would be drawn to christ and this way we can win more souls rather than castigating other peoples beliefs.

oluwdashmi:
Which bible said it is wrong? Won't you read the reply I posted to you above KUNLE?

I don't know how you read your own bible but the bible says it is wrong wether you like it or not. Go and the the amplified version of the verse i quoted.

[quote author=pilgrim.1 link=topic=263218.msg3871413#msg3871413 date=1242385877]Wetin you wear for face wey person no fit look you? [/quote]Internet discussion forums are mostly anonimous and that is why children like you and jjyou find it easy to insult people i am quite certain that he can't look me in the face and say all the rubbish he writes here.

PurestBoy:
This is a senseless thread. No one is being forced to call a pastor daddy, this is a personal issue

Well the bible says it is wrong period!

JJYOU:
kunle, how does this your shouting edify Christ or win the lost? you are such unbelievable human being.  again i want to ask how old are you?

I am really sick of this your rants, if you really want to know my age perhaps you should meet me in person then you would be able to confirm. If you stay in Lagos i would be willing to oblidge you an appointment and lets see if you would be able to look me in the face.

I wonder how people who claim to be christians are comfortable with the reality that the word of God is being dis-torted to defraud christians which is a very grievious sin whilst the direct commandments of christ are vastly being ignored by these same charlatans who claim to be serving him. I love christ and the gospel he brought to mankind, it pains me that this beautiful gospel is being twisted for materail gain, it pains me that the name of our lord and saviour is being used to commit crimes against humanity and i cannot just sit down and accept it just becos it as become the norm or the people being swindled are not even aware they are being swindled. I am quite certain in my mind that if the church was obeying the teachings of christ they claim to serve, Nigeria would be a much better country to live in. But the problem is every body cares for themselves alone and the type of christianity being preached and practised is the selfish type unlike the selfless teachings of our lord and saviour. I believe it is my christian duty to speak up against this evil going on in the church[even if it doesn't edify them] The church must be restored to true christianity and peoples eyes must be opened. We as christians need to start focusing more on the direct teachings of christ[from the gospels] rather than the twisted version that is preached on the pulpit

[quote author=pilgrim.1 link=topic=263218.msg3868250#msg3868250 date=1242322537]It's alright to have 'severe complaints' against those whom you described above: we're all concerned about fraud and all such things. But no one needs to argue against tithes if even you can acknowledge you've nothing against tithers; so why this needless sung about being cut off from Christ, when no-one is saying they are tithing based on the Levitical law? We've lost count of the number of times that those who genuinely tithe have said they do so freely and cheerfully without any sense of compulsion or greed. Also, you stated sometime ago that "it is perfectly okay" to tithe if a Christian "knows the truth about tithes and he is tithing or giving whatever percentage of his income to the church out of his own desire to contribute to the church," abi? That is what tithers have been saying consistently - that they do so out of their own desire. It seems that is not sufficient, and anti-tithers would still seek to be derisive at those who choose to tithe.[/quote]What you fail to realize is most people tithe because they have been mis-led and manipulated into believing that tithing is compulsary for them to practise as believers, if you want to be honest you would admit that most preachers preach tithes from malachi 3 which they then twist to mean money from income and they present it as compulsary and non negotiable for christians to practise they also utlize the curses and blessings in the passage to further intimidate and lure christians into parting with their money. As i have always said i have nothing against tithers infact i have pity for them as they are being defrauded on a regular basis and they think they are doing the will of God. it is the "compulsary" tithe preaching pastors that i detest.


[quote author=pilgrim.1 link=topic=263218.msg3868250#msg3868250 date=1242322537]Sometime ago you acknowledged that people who defraud believers use all kinds of other means and terms, including seed sowing, sacrificial offering, faith offering, first fruits, etc (if I remember well). At least, we know that the NT speaks about 'seed sowing'; and if these fraudsters have also used that, why are anti-tithers not condemning it as well?[/quote]Whilst we condenm all methods used by these crooks to defraud christians we emphasize more on tithes becos this is the most instituitional fraud in christianity and the biggest established fraud in the history of mankind.

[quote author=pilgrim.1 link=topic=263218.msg3868250#msg3868250 date=1242322537]And yes, you've quoted Jeremiah 8 repeatedly and yet it's not helping your complaints. Perhaps you need to apply your usual logic and understand Jeremiah was not complaining against tithes/tithers at all. [/quote]I quote Jeremiah 8 becos the reason why preachers twist the scriptures is clearly stated there which is greed and fraud. This would help christians better to understand the reason why food/ meat in malachi was twisted to mean money /income and why preachers preach tithing at all. It is all greed and the bible says so.

kantoma:
I think even as "Zombees" as we are, could someone tell me that we would be rejected by God and be sent to hell for the giving of 10% of our income to God? And if what we are doing is not a sin, then what's all these fuzz about?

Nobody is condenming tithes payers apart from the fact that they stand a risk of cutting themselves off the grace of christ[galatians 5:4] if they are tithing as a result of compulsion preached from the law i.e malachi 3:10. However our more severe complaints is against these criminally inspired so -called men of God who are imposing on people what God does NOT require of christians all becos of their greedy desires, that apart the other danger of this tithe doctrine is that "believers" feel they have done their christian duty by paying tithes[which jesus did not instruct] whilst ignoring the direct instructions of Jesus christ to help the needy. Helping the less priviledge is a major and central focus of christianity but today due to the greed of our so called christian leaders they are more interested in you giving everything to the church so they relegate the need to teach giving to the poor[which is our mandated christian duty] to the background.

The passage below would help explain why preachers preah tithing whilst twisting the word of God.

Jeremiah 8:8-10:

8 “‘How can you say, “We are wise because we have the word of the Lord,”
when your teachers have twisted it by writing lies?
9 These wise teachers will fall
into the trap of their own foolishness,
for they have rejected the word of the Lord.
Are they so wise after all?
10 I will give their wives to others
and their farms to strangers.
From the least to the greatest,
their lives are ruled by greed.
Yes, even my prophets and priests are like that.
They are all frauds.

Image123:
Kunle, I didn't know that you now have your own version of the Bible o. Abi you be eye-witness among the multitude that was addressed yonder day?

I quoted from the ampilfied version of the bible go and look it up. better still read up the whole passage for better understanding and you would understand that Jesus was refering to the religious leaders of that time[the pharisees] who are no different from our religious leaders[pastors] today

deor03:
On a Seroius NOTE consider writing a book.


KunleOshob, 2010. ECONOMICS JARGONS MADE EASY, Nairaland Publishers. Lagos. Nigeria

I actually studied economics , but i must confess the topic is not my original writing.

maybe govt should put a ban on isi-ewu and fufu

romade:
so busy i cant download d dogon turenchi

If you are so busy you won't be idling away here on nairaland

Interesting. This illustrates it all!!!!

Enjoy it & laugh a little but it is the truth

Tamedu is the proprietor of a Foo-Foo and Isi-Ewu Shop
(Exotic Nigerian food) in Lagos, Nigeria.
Sales are low and, in order to increase them, he comes up
with a plan to allow his customers to eat now and pay later.
He keeps track of the meals consumed on a ledger.
Word gets around and as a result increasing numbers of
customers flock to Tamedu?s shop. His suppliers are
delighted and are very willing to sell more and more raw
materials for the meals he prepares. Tamedu shows them his
ledger of receivables and they extend him credit.

A young and dynamic customer service consultant at the
local Nairaland bank recognizes these customer debts as
valuable future assets and gives Tamedu a credit line
and then increases Tamedu?s borrowing limit.
Taking advantage of his customers'
freedom from immediate payment constraints, Tamedu
jacks up the prices of his Foo-Foo and Isi-Ewu.
Customers don?t mind as they are not required to pay on the
spot. Sales volume increases massively; Banks and
suppliers lend more; Tamedu opens more outlets in
Abuja, Kaduna, Port Harcourt and Ibadan. He sees no reason
for undue concern since he has the debts of the customers
as collateral.
At the bank's corporate headquarters, expert bankers
recognize Tamedu's customer loans as assets and
transform these customer assets into Bonds. These negotiable
instruments are given exotic names such as FoofooBond,
IsiBond, EwuBond AND EgusiBond.
These securities are then listed on the Stock Exchange and
traded on markets worldwide. No one really understands what
the names mean and how the securities are guaranteed
but, nevertheless, as their prices continuously climb, the
securities become top-selling items.
One day, although the prices are still climbing, a credit risk manager of the Nairaland
bank decides that the time has come to demand payment
of one of the debts incurred by Tamedu. Tamedu in turn asks his
clients to pay up. One by one they refuse; the clients cannot pay back the debts. Tamedu refuses to serve them
anymore. The clients stop coming.

Tamedu is really screwed now. He cannot fulfill hisloan
obligations and therefore claims bankruptcy. All bonds drop
in price by between 80 to 95%.
The suppliers of Tamedu, having granted generous payment
due dates and having invested in the securities are
faced with similar problems. The goat-meat supplier defaults
on payment to the Mallam who sells goats to him and to
the cattle supplier and claims bankruptcy. The yam supplier is
taken over by a competitor; Tamedu lays off the cook and
staff. Bankruptcies soar, unemployment mushrooms.

The Nairaland bank that lent the money in the first
place is set to collapse.
It is saved by the Government following dramatic
round-the-clock consultations by leaders from the Peoples
Undemocratic Party with Tamedu commuting back and
forth in his Executive jet and Mercedes 500SEL, brokering the
deal.

The funds required to save the economic collapse are
obtained by a tax levied on the citizens, most of whom
do not eat Foo-Foo or Isi-Ewu.

"THIS IS HOW THE GLOBAL FINANCIAL CRISIS ERUPTED"

Interesting. This illustrates it all!!!!

Enjoy it & laugh a little but it is the truth

Tamedu is the proprietor of a Foo-Foo and Isi-Ewu Shop
(Exotic Nigerian food) in Lagos, Nigeria.
Sales are low and, in order to increase them, he comes up
with a plan to allow his customers to eat now and pay later.
He keeps track of the meals consumed on a ledger.
Word gets around and as a result increasing numbers of
customers flock to Tamedu?s shop. His suppliers are
delighted and are very willing to sell more and more raw
materials for the meals he prepares. Tamedu shows them his
ledger of receivables and they extend him credit.

A young and dynamic customer service consultant at the
local Nairaland bank recognizes these customer debts as
valuable future assets and gives Tamedu a credit line
and then increases Tamedu?s borrowing limit.
Taking advantage of his customers'
freedom from immediate payment constraints, Tamedu
jacks up the prices of his Foo-Foo and Isi-Ewu.
Customers don?t mind as they are not required to pay on the
spot. Sales volume increases massively; Banks and
suppliers lend more; Tamedu opens more outlets in
Abuja, Kaduna, Port Harcourt and Ibadan. He sees no reason
for undue concern since he has the debts of the customers
as collateral.
At the bank's corporate headquarters, expert bankers
recognize Tamedu's customer loans as assets and
transform these customer assets into Bonds. These negotiable
instruments are given exotic names such as FoofooBond,
IsiBond, EwuBond AND EgusiBond.
These securities are then listed on the Stock Exchange and
traded on markets worldwide. No one really understands what
the names mean and how the securities are guaranteed
but, nevertheless, as their prices continuously climb, the
securities become top-selling items.
One day, although the prices are still climbing, a credit risk manager of the Nairaland
bank decides that the time has come to demand payment
of one of the debts incurred by Tamedu. Tamedu in turn asks his
clients to pay up. One by one they refuse; the clients cannot pay back the debts. Tamedu refuses to serve them
anymore. The clients stop coming.

Tamedu is really screwed now. He cannot fulfill hisloan
obligations and therefore claims bankruptcy. All bonds drop
in price by between 80 to 95%.
The suppliers of Tamedu, having granted generous payment
due dates and having invested in the securities are
faced with similar problems. The goat-meat supplier defaults
on payment to the Mallam who sells goats to him and to
the cattle supplier and claims bankruptcy. The yam supplier is
taken over by a competitor; Tamedu lays off the cook and
staff. Bankruptcies soar, unemployment mushrooms.

The Nairaland bank that lent the money in the first
place is set to collapse.
It is saved by the Government following dramatic
round-the-clock consultations by leaders from the Peoples
Undemocratic Party with Tamedu commuting back and
forth in his Executive jet and Mercedes 500SEL, brokering the
deal.

The funds required to save the economic collapse are
obtained by a tax levied on the citizens, most of whom
do not eat Foo-Foo or Isi-Ewu.

"THIS IS HOW THE GLOBAL FINANCIAL CRISIS ERUPTED"

@seunspice & bolseas

Thanx for your insightful contributions. And once again i want to restate to all the doubters and the haters that as far as the power probe is concerned OBJ as been vindicated.

fellis:
What about one's blood father? Is there provision for that?

KunleOshob:
Matthew 23:9:
9And do not call anyone[b] [in the church] on earth father,[/b] for you have one Father, Who is in heaven.

The scripture i quoted was talking about calling someone in church father(i.e pastor, GO, e.t.c) and NOt one's blood father.