Michael was NEVER in Debt

[TruthBeTold]

I have came across loads of posts that keep talking about Michael, and how he was in debt. I just want to clear this up and let you all know and understand that he was NEVER in debt at all.

Someone who owns a catalogue worth in between $1b-$4b can not be in debt. Also he owns alot of other music, which gives him an income of more than 200m a year anyway.

[NEFFERTEAREYA]

I have came across loads of posts that keep talking about Michael, and how he was in debt. I just want to clear this up and let you all know and understand that he was NEVER in debt at all.

Someone who owns a catalogue worth in between $1b-$4b can not be in debt. Also he owns alot of other music, which gives him an income of more than 200m a year anyway.

i absolutely agree with this post. in fact,i just made a statement similar to this earlier today in another thread. i think michael himself may have thrown it out there as part of the hoax,you know,give us an excuse as to why he would fake his death. if that was his plan it worked on alot of people,lol but i personally NEVER believed he had financial problems.

[mjwr]

Michael's owning of the Catalogue and the half of TV/Music rights of Sony are main reasons why I never believed he was in debt.. I don't even take time to read shitty tabloid bullshit like debts from Michael Jackson. He made siveral billions and somehow he spended all? funny storys..

Peace

[TruthBeTold]

We have to remember that he was worth well over a billion in 2003 he said, and he couldnt of lost all of that billion within 2 to 3 years, in 2006 when they 1st said he was in debt.

Remember, he knew he was getting money laundered from him, and he said people were signing cheques that he didnt even know about, or even know what they were for. For all we know, this hoax may not just be about the message, but also the oppurtunity for Michael to get those who might have been taken his money, along with the chance to try and take down people like sneddon.

Michael knew alot of people associated with the mafia, and the mafia's number one money maker is drugs & money laundering. Both Sneddon & Motolla have ties to the Mafia, along with the gambino's and malniks.

[~Souza~]

Yup, I agree. All smoke and mirrors...

[TruthBeTold]

Since i started to believe in the hoax, i've linked alot of things together. And began to release that although the message is top priority, this is also an oppurtunity for Michael to :-

1. Find out his real friends are
2. Get those who have robbed him of money for years
3. Possibly try and show Sneddon set him up
4. To show how backwards the justice system is/can be.

And like Souza said, its all smoke and mirrors.

[~Souza~]

Since i started to believe in the hoax, i've linked alot of things together. And began to release that although the message is top priority, this is also an oppurtunity for Michael to :-

1. Find out his real friends are
2. Get those who have robbed him of money for years
3. Possibly try and show Sneddon set him up
4. To show how backwards the justice system is/can be.

And like Souza said, its all smoke and mirrors.

Of course, it's his own personal revenge as well!

[mumof3]

I have never ever thought he was in debt but the general public believe what they are told i cant count the number of times people have said to me he was in so much debt i have always said you have to be kiding . he is no fool

[AvaMarie]

I never believed he was in debt.

[Its her]

You KNOW he    put that pititful story out there with all of the rest of his hoax! You know it. But he also said what he was doing was all for love...

 :idea:  :lol:  Maybe that new chick he was rumored to have captured,  needed to be :roll:  8-)  "tested"---to to determine her G.Q.  :!:

("Gold-Digger quotient"). :lol:  :lol:  :lol:

Hey. HE's no fool, even at Love.

It IS a good test, a very 8-)  Solomonesque test, weeding out the "non-essentials (like status-seeking, "G-D" heartbreakers)" (   , Oh Mikey, :roll:  :idea: LEAVE those hens, :lol:  and take a chance on ME!) because whatever he's earning all this hoax revenue for, I bet you it's NOT for his own coffers, or more jewels for her neck!!!!!!!

He's got plans, most probably to buy something priceless, like a complete rainforest reserve, and show some fools how  'tis DONE.... 8-)  8-)  8-) It could happen...anything for Love is possible, because LOVE nevers fails.

[SEHF]

Well you can have money and be in debt.. [:

[Rita Hayworth]

Since I've always thought that following the money would lead us to answers, I like this thread.

I just have several questions that revolve around the "was he in debt or was he not?"

You are absolutely right, you can be wealthy on "paper" but not have cash. He leveraged his catalog assets as well as Neverland many times for "cash."

If he "hoaxed" his death, it seems like a lot of his money issues were not taken care of, in particular access to the "correct" will. Also, it was reported that the Encino compound was also close to default in the week before he died. There have also been many reports that his mother is struggling financially. Mainly because the estate is tied up in paying off debts and until that happens, she only receives the monthly maintenance for herself and the kids.

I find it hard to understand why Michael would leave his kids and mother in such a precarious financial situation if he really had been planning the hoax for many years. I believe these stories to be true because they've been reported by other than the tabloids and TMZ. Also because the finances have been exposed in court. It wouldn't make sense to present false information to a judge who oversees his mother's and children's financial security.

 The finances are the issues that make me question a premeditated hoax or rather he did it because he had no other choice knowing that he couldn't fulfill the contract.

[tekamjforever]

from "The Wall Street Journal - Business": Jackson Estate Steers to Next Challenge: Loan Refinancing :roll:  :?  :arrow: You are not allowed to view links. Register or Login

[samsuperb]

This is not odd IMO

[sunburst]

there's so much info that it becomes confusing. my understanding is that MJ set up trusts in 1995.  even his share of the Sony/ATV catalogue is owned by his Michael Jackson Family Trust.  it was also said in fan forums that he was cash-strapped because all, or maybe most, of his earnings were going into trusts that were overseeing debt payments, which was supposed to be all done by late 2010 or 2011, not sure.  so maybe he wasn't broke, but money coming in was going to obligations.  otherwise, why would the loan for which the catalogue was a collateral keep getting re-financed?  and an article said it's looming up ahead again.

i think it's a fact that he was taken advantage of by many people.  i only have to listen to the lyrics of 2Bad and Money to understand his plight. but then again, everyone who has ever dealt with him in business has said that he was astute, very bright, and had a brilliant business mind.  he easily picked up on business jargon and understood Wall Street.  

so did he have businesses that didn't pan out, and was he able to recover his investments?  if all the debt reports are speculation, again - why would he always merely re-finance the big loan and lose so much in interest payments and commissions?