Joseph Smith’s Bank of Faith: The Rise and Fall of Mormonism’s Kirtland Safety Society
Radio Free Mormon
00:00
Desperation and Financial Folly: The Birth of a Bank
This chapter explores the financial challenges of 1836, focusing on the drastic move to establish a bank to address significant debts. Through humor and metaphors, it reflects on the folly of seeking unconventional solutions to deep financial troubles and their historical relevance.
Play episode from 02:49:17
Transcript
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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