Joseph Smith’s Bank of Faith: The Rise and Fall of Mormonism’s Kirtland Safety Society
Radio Free Mormon
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The Kirtland Safety Society: Ambition and Missteps
This chapter explores the establishment and tumultuous history of the Kirtland Safety Society Bank, founded by early Mormon leaders in the 1830s. It highlights the bank's ambitious goals, operational challenges, and the significant impact of its eventual collapse on the Mormon community. Through an analysis of financial practices and their religious justifications, the chapter draws parallels to modern financial risks and the emotional toll on investors.
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Faith, Finances, and Fraud? Buckle up, because this episode dives into one of the wildest financial moments in Mormon history! (And that’s saying a lot) What happens when a prophet ventures into banking? In the 1830s, Joseph Smith and other early Mormon leaders launched the Kirtland Safety Society, a financial institution built on faith, community trust, and a vision of economic independence. But within just a year, the bank collapsed, leaving behind lawsuits, financial ruin, and a crisis of leadership that sent shockwaves through the early Church. In this episode, we explore: 
Why Joseph Smith and his followers believed a church-backed bank was the key to building Zion 
The legal challenges and accusations of fraud that forced Joseph Smith to flee Kirtland 
How this financial collapse tested the faith of early believers and reshaped Mormon history Was the Kirtland Safety Society a bold but doomed experiment? A victim of economic turmoil? Or was something more questionable at play? Join us as we unpack the rise and fall of Mormonism’s most infamous financial venture and the lessons it still holds today. No matter where you stand, this is a story worth hearing. 
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