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Earthly riches of the Vatican Bank
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Most notorious was the Vatican Bank’s involvement in the bankruptcy of Italy’s largest private bank, the Banco Ambrosiano, in 1982.
Its president, Roberto Calvi, nicknamed “God’s Banker”, was found hanged beneath London’s Blackfriars Bridge, with investigators unable to rule whether he had committed suicide or was murdered, possibly by the Mafia”.
In an article dated June 27, 2012, Forbes columnist Avi Jorisch provides a less flattering summary of the Vatican Bank’s finances. Jorisch, a former U.S. Treasury Department official, writes, “Italian prosecutors have now detained the former head of the Vatican’s bank after searching his home and former office for suspected criminal behavior.
“Catholics and followers of the Holy See will be disappointed to learn that the Vatican’s bank appears to be embroiled in yet another financial scandal. After a number of very embarrassing episodes in recent years, the Pope pledged to comply with international standards on illicit finance and clean up the bank’s image. The European Union has an important role to play in helping the Vatican mitigate risk and come into full compliance; the Financial Action Task Force (FATF), set up by the G-7 to combat money laundering and terrorist financing, has a responsibility as well…”.
Jorisch continues, “The bank accepts deposits only from top Church officials and entities, according to Italian legal scholar Settimio Caridi. It is run by a president but overseen by five cardinals who report directly to the Vatican and the Vatican’s secretary of state. Because so little is known about the bank’s daily operations and transactions, it has often been called “the most secret bank in the world…”.
“Tedeschi and the Vatican Bank have recently been investigated on two separate occasions for money laundering. This past March, JP Morgan Chase closed a Vatican account in Milan after the IOR was “unable to respond” to questionable money transfers, according to Italy’s leading financial newspaper, Il Sole 24 Ore…”.
Jorisch concludes, “In today’s interconnected financial world, instituting measures to mitigate abuse of the international financial sector is part of the cost of doing business. Unquestionably, one of the most serious public policy challenges the international community will face in the foreseeable future is how to use every tool in its arsenal to make progress against those who exploit tainted money. While the Vatican answers to a higher calling, the EU, FATF and MONEYVAL should insist that its earthly responsibilities are equally important”.
Well said Mister Jorisch! It’s all very well (the Vatican) answering to a higher calling when earthly responsibilities – not to mention laws and good citizenship – are by all accounts all too often ignored…at least where money’s concerned.
As for that leading question: How much is the Vatican worth? An exhausting search reveals that no-one really knows. Certainly no-one outside the Vatican – and they ain’t saying.
Perhaps the Pentecostle Church site Christian Assemblies International sums it up best. It quotes the following excerpt (abridged) from Avro Manhattan’s perceptive book The Vatican Billions:
“The Catholic Church…once all her assets have been put together, is the most formidable stockbroker in the world. The 'Wall Street Journal' said that the Vatican's financial deals in the U.S. alone were so big that very often it sold or bought gold in lots of a million or more dollars at one time.
“Therefore, the Vatican was, and still is, the most redoubtable wealth accumulator and property owner in existence. No one knows for certain how much the Catholic Church was, or is worth in terms of dollars and other currencies, not even the pope himself.
“That is the true situation borne out by a Vatican official who, when asked to make a guess at the Vatican's wealth today, replied very tellingly, ‘Only God knows’.”


Good to see fresh updates on this vital topic !

Haven't seen this one before ... thanks for the tip off."
Maybe that book should be retitled The Vatican Trillions ;)

The Institute for the Works of Religion (Italian: Istituto per le Opere di Religione – IOR), commonly known as the Vatican Bank, is a private bank situated inside Vatican City and run by a Board of Superintendence which reports to a Supervisory Commission of Cardinals and the Pope. The Bank Identifier Code of the Institute for the Works of Religion is IOPRVAVX. Since 9 July 2014, its president is Jean-Baptiste de Franssu. The IOR is regulated by the Vatican's financial supervisory body AIF (Autorità di Informazione Finanziaria).[1]
The institute was founded by papal decree of Pope Pius XII in June 1942. Its assets are not the property of the Holy See, and therefore it is outside the jurisdiction of the Prefecture for the Economic Affairs of the Holy See.[2][note 1]
In June 2012, the IOR gave a first presentation of its operations. In July 2013, the Institute launched its own website.[3] On 1 October 2013 it also published its first-ever annual report which has been available for download since then.[4][5][6]
On 24 June 2013, Pope Francis created a special investigative Pontifical Commission (CRIOR) to study IOR reform.[7] On 7 April 2014, Pope Francis approved respective recommendations on the IOR's future which were jointly developed by the CRIOR and COSEA commissions and the IOR's management. "The IOR will continue to serve with prudence and provide specialized financial services to the Catholic Church worldwide", as the Vatican release stated.[8]
On 7 April 2014, Pope Francis approved a proposal on the Institute's future, "reaffirming the importance of the IOR’s mission for the good of the Catholic Church, the Holy See and the Vatican City State".[8] On 25 May 2015, the IOR published its Annual Report for 2014.

The Smiling Pope -- Was Pope John Paul I murdered? https://www.goodreads.com/topic/show/...

53 miles?!
Wow!
https://m.youtube.com/watch?v=8SdgyH-...

53 miles?!
Wow!
https://m.youtube.com/watch?v=8SdgyH-..."
That's a lot of miles!

Hope he doesn't end up like John Paul I...
Intriguing article, Dave.



Actually, that's a bloody good point, mate!
Popes don't take that vow either!
It is a bit bizarre also that a supposedly spiritual/religious organization is one of the biggest banking entities ever...

Don't worry, Ernestine, "they" will soon be serving us ;)

What?!" You are right and that is what I like about this group, so many open minded supportive people, I read often, comment little, John :)

The church's real wealth is the people they control with fear, Facebook,s real wealth is the people, not the investors, not the advertisers, the perceived value people get by connecting :) with friend and family :)


You fight them from the inside the way the Russians conquered the Nazi's on behalf of all of us.

Don't worry, Ernestine, "they" will soon be serving us ;)" James you are amazing, I like your positive energy :)


Income equality is getting worse. It needs to be addressed but you can't fix it with a minimum wage plan. Even JC knew that.
Matthew 26:11New International Version (NIV)
11 The poor you will always have with you

It was just a little joke...to keep myself amused...
But Don't worry, I'll be serious from now on...

Getting thread back on track...
Who else thinks The Vatican Bank needs to be more transparent?
Seems it's very similar to The Federal Reserve which also appears to many researchers to have never had a proper audit since its inception in 1913...

When Pope Benedict's butler began leaking secret Vatican documents to an Italian journalist he was motivated by a desire to save the Catholic church from what he saw as a mounting tide of corruption. Among the issues he felt should be brought to the attention of the pope and the public were the roles of freemasonry and the secret services in Vatican affairs, and the mysterious disappearance of a Vatican schoolgirl, Emanuela Orlandi. The Orlandi affair ties the present travails of the papacy to the Banco Ambrosiano scandal and the death in London of its chairman, Roberto Calvi. The banker found hanging under Blackfriars Bridge was caught in a web of Cold War intrigue, from which the Vatican is still trying to extricate itself. Now updated and expanded, this book was first published as 'The Last Supper: The Mafi a, the Masons and the Killing of Roberto Calvi'.
Praise for 'The Last Supper'
'This powerfully written account will be required reading for students of recent Italian and Vatican history.' The Tablet.
'The meticulously researched book makes for a surprisingly smooth and fascinating read.' Bloomberg.
'Willan wrote the wonderful Puppetmasters about post-war Italian politics and this is more of the same, a smaller patch examined in more detail.' Lobster.


Digging deep into the Vatican's post WW11 connections to the CIA, Mafia & Knights Templars



Highly likely he was (his death extremely suspicious and falls on the eve of when he was planning to restructure the whole financial system behind the Vatican...)
But I would argue this goes beyond his death. The Vatican supposedly being a pure, God-inspired religious/spiritual organization and then being one of the world's most powerful and corrupt financial institutions on Earth is not "kosher"...

Most folks think the Priory of Sion is a hoax.
See this: https://www.cbsnews.com/news/the-prio...
and
https://www.cesnur.org/2004/mi_davinc...

Oh I'm sure they were lining up to be part of that little 1963 event! It'd be like a homecoming party for them, sociopaths as most of 'em were.
I think more historical researchers need to study the formation of "post-WW2 United States" to understand modern America, rather than keep looking back to 1776 and thinking it somehow relates to the NOW.
Something went wrong, a creative drifting away from the roots...1945-1948 in particular is when a lot of crazy shit went down...Real evil anti-American, anti-Democratic efforts to usurp freedoms, but subtly so that most "Mainstreamers" wouldn't notice...Maybe that period will eventually be revealed as the single biggest power grab in history, especially with classified tech, Nazi secrets and financial theft is fully reported/proven...
That's my take on it...But this thread is drifting away from its roots! Supposed to be about the Vatican...Sorry, this stuff triggers me...
Bizarre tho how many in US intel and military were Malta Knights.

"In particular, Moreno calls out Assange’s intervention “in the internal affairs of other states.” In January 2019 WikiLeaks released a collection of confidential Vatican documents, and Moreno says Assange’s activity around this time suggests he is still involved in WikiLeaks."
Wikileaks takes a swipe at the famously secretive Vatican https://www.washingtonpost.com/world/...

VATICAN RAIDS ITS OWN SECRETARIAT OF STATE https://gizadeathstar.com/2019/10/vat...
shortly after Jorge Cardinal Bergolio was elected pope as Francis I, you might recall that one of the first things he did was to appoint an accounting firm to be the firm of record for the Vatican Bank. But that accounting firm had some strange connections of its own. During a weekend visit a few years ago, former Assistant Secretary of Housing and Urban Development Catherine Austin Fitts and I did a little digging, and it turned out that firm was also the accounting-audit firm of record for - get this - Lloyd's of London and The Bank of International Settlements!(see Vatican Hires International Accounting Firm to Get Books in Order and
SAY WHAT? THE VATICAN BANK HIRED AN AUDITOR!?!?
The only slightly ironical and humorous aspect of this story was that we were told this was all being done to make the notoriously corrupt Vatican bank "compliant" with international regulations regarding money laundering. Or to put it differently, the Vatican Bank didn't even rise to the level of "probity" of the formerly Nazi-infested Bank of International Settlements! Another big surprise there, given the Vatican bank's connections to the Loge Propaganda Due scandal, Michelle Sindona, Banco Ambrosiano and Roberto Calvi (remember him?) and all the other wondrous financial goings-on during the marvelous era of the Bank of Credit and Commerce International, Iran-Contra, the whole Inslaw-PROMIS scandal (which, among many others, involved people like Adnan Khashoggi (remember him?).
What's even more intriguing here is that this raid occurs in the same approximate time as the recent visits of US Secretary of State Mike Pompeio and US Attorney General William Barr to - you guessed it - Italy. We're told, of course, that this was in order to ascertain the Italian intelligence community's participation in the whole Russiagate fiasco, but I strongly suspect that there was more to it than that, and that we're looking at the other part of the story. It would be virtually impossible to deal with any aspect of financial transaction or intelligence gathering in Italy without involving the Vatican at some point. All this also comes at the time that the US and the Vatican are both wrestling with their ends of the global human trafficking scandals. With respect to the Epstein affair, it's now fairly well known that Epstein's network of contacts, as well as his own philosophical proclivities, involved him with transhumanists and people with deep connections to the information technology world, like the Maxwell sisters, whose father, Robert Maxwell, was mentioned in connection to the whole Inslaw-PROMIS scandal.


A bold statement indeed, especially the second part. One could say it's a part of the last acceptable prejudice, anti-Catholicism.
Books mentioned in this topic
The Vatican's Last Secret (other topics)The Vatican at War: From Blackfriars Bridge to Buenos Aires (other topics)
God's Bankers: A History of Money and Power at the Vatican (other topics)
God's Bankers: A History of Money and Power at the Vatican (other topics)
The Vatican Billions (other topics)
More...
Authors mentioned in this topic
Pope John Paul I (other topics)Gerald Posner (other topics)
Avro Manhattan (other topics)
Avro Manhattan (other topics)
Joseph P. Farrell (other topics)
More...
In our first non-fiction book The Orphan Conspiracies: 29 Conspiracy Theories from The Orphan Trilogy, we devote a chapter to mysterious deaths of various high profile individuals, including JFK, Princess Diana, Martin Luther King and Marilyn Monroe – and also a gentleman who will forever be remembered as the Smiling Pope.
Pope John Paul I, who was nicknamed the Smiling Pope due to his forever-cheerful demeanor, was elected the Catholic Pope on August 26, 1978. Just 33 days later, at 5am on September 28, John Paul I was found dead, marking the end of one of the shortest reigns in papal history.
Anomalies, discrepancies and conspiracy theories abound around the circumstances of John Paul I’s death. The Vatican’s official version of events leading up to the death changed at least once and the Pope’s body was embalmed before an autopsy of the corpse could be done.
Possible conspirators include international banksters operating within the Vatican Bank, Freemasons and even the Vatican itself. In fact, that’s the most common theory – that it was an inside job.
Despite his constant smile, Pope John Paul I was apparently hell-bent on reforming the Vatican, and many have argued the Catholic powers that be were simply protecting their position by assassinating him.
Top of the Smiling Pope’s to-do list was said to have been fixing the large scale corruption he believed existed within the Vatican Bank. The same religious financial institution which only a few decades earlier had lucrative collaborations with Benito Mussolini’s fascist regime and Adolf Hitler’s Nazi Party, and had strayed into many other areas not generally associated with the Holy Spirit, was about to be brought into line.
According to this murder theory, Vatican banksters weren’t too keen on being reformed. Nor did they resonate with the possibility of being forced to confess their sins, so they sent the Pope to an early grave.
In a case of circumstantial evidence, the President of the Vatican Bank in 1978 was American archbishop Paul Marcinkus who just happened to be seen walking briskly through the Vatican at dawn and around the exact time Pope John Paul I had died. That could obviously be a coincidence, but then again Marcinkus wasn’t known for early morning walks.
Granted, conspiracy theorists also say the Pope was assassinated by non-money men in the Vatican for other planned radical reforms, including allowing for Catholics around the world to practice contraception. However, to our way of thinking, the theory connecting John Paul I’s death to the Vatican banksters is pretty compelling.
The common consensus between researchers and even many Catholics is that there are more than enough dark factions operating within the Vatican to have carried out such a murder.
Which got us thinking…How wealthy is the Vatican Bank (officially known as the Institute for Religious Works or Istituto per le Opere di Religione in Italian) and indeed the Vatican itself? How did it/does it generate its wealth? How does it use its wealth?
For answers to these and quite a few other questions, you can’t do much better than read investigative journalist Gerald Posner’s bestselling book, God's Bankers: A History of Money and Power at the Vatican. Endorsed by The New York Times as “A deeply reported, fast-paced exposé of the money and the cardinals-turned-financiers at the heart of the Vatican—the world’s biggest, most powerful religious institution,” God’s Bankers is described by more than a few reviewers as “a riveting read!”
The New York Times, incidentally, describes author Gerald Posner as an acclaimed journalist with “exhaustive research techniques.” We’d have to agree.
The blurb for God’s Bankers reads:
“From a master chronicler of legal and financial misconduct, a magnificent investigation nine years in the making, this book traces the political intrigue and inner workings of the Catholic Church. Decidedly not about faith, belief in God, or religious doctrine, this book is about the church’s accumulation of wealth and its byzantine entanglements with financial markets across the world. Told through 200 years of prelates, bishops, cardinals, and the Popes who oversee it all, Gerald Posner uncovers an eyebrow-raising account of money and power in perhaps the most influential organization in the history of the world.
“God’s Bankers has it all: a rare exposé and an astounding saga marked by poisoned business titans, murdered prosecutors, mysterious deaths of private investigators, and questionable suicides; a carnival of characters from Popes and cardinals, financiers and mobsters, kings and prime ministers; and a set of moral and political circumstances that clarify not only the church’s aims and ambitions, but reflect the larger dilemmas of the world’s more recent history. And Posner even looks to the future to surmise if Pope Francis can succeed where all his predecessors failed: to overcome the resistance to change in the Vatican’s Machiavellian inner court and to rein in the excesses of its seemingly uncontrollable financial quagmire. Part thriller, part financial tell-all, this book shows with extraordinary precision how the Vatican has evolved from a foundation of faith to a corporation of extreme wealth and power”.
Reviewers’ comments reveal that readers resonate with God’s Bankers. Two reviews in particular caught our eye.
This review (excerpt) from Portsmouth Herald:
“This fast-paced, carefully researched exposé of the nefarious enrichment of the Vatican is a real eyebrow-raiser….a spellbinding, intricate tale of corruption, intrigue, and criminality at the heart of the world’s largest religious institution”.
And this review from Financial Advisor Magazine:
“A book worth the time if a reader is interested in Roman Catholic Church and European history….The book will be appreciated by those involved in finance. It is chock full of tales of investment schemes involving off-shore ghost companies, shell corporations and holding companies set up to hide the movement of money, the use of tax havens, tax laws (and how to avoid them), and financial instruments that caused millions of dollars to disappear…Some may also appreciate reading about the personalities of popes, the power games and the internecine politics of the Roman Curia (the pope’s administrative wing) that make the current political games played in Washington, D.C., seem amateurish by comparison”.
The British newspaper The Telegraph does a good job of summarising the history of the Vatican Bank and the problems that have plagued it in an article by columnist Jules Gray, dated September 5, 2014.
Gray writes, “Perhaps more than any other, the Vatican Bank should be expected to maintain the highest of moral standards in the way it conducts its business. However, despite its saintly links, the bank that acts on behalf of the Catholic Church has developed a reputation for corruption, scandal and mismanagement over the last few decades.
“Murder, bribery, suspicious deaths, money laundering, and many other nefarious acts have been linked to the bank that is officially known as The Institute for Works of Religion (IOR)…”.
Gray continues, “Like the Catholic Church, the Vatican Bank has been steeped in mystery for much of the time it has been in operation. Founded in 1942 as a means to manage money on behalf of the Catholic Church, its main purpose was to ‘provide for the safekeeping and administration of movable and immovable property transferred or entrusted to it by physical or juridical persons and intended for works of religion or charity.’ It was plunged into disrepute in the late 1970s after many years of rumours about money laundering on behalf of the mafia…
“While the scandals of 30 years ago are yet to be fully put to bed, new ones have emerged in recent years that have sent the Vatican Bank back into the murky spotlight of before. In 2009 the bank was being investigated by authorities over money-laundering worth €180m. More allegations followed against then IOR President Ettore Gotti Tedeschi… although charges were never brought”.
Gray concludes, “Further allegations then emerged over money laundering – which led to US investment bank JP Morgan closing one of the Vatican Bank’s accounts – after it failed to provide sufficient information about the sources of the €1.8bn deposits…Pope Francis established a new Pontifical Commission to study potential reforms for the bank, which later led to four senior cardinals being sacked”.
A more recent article in the same newspaper, The Telegraph, provides eye-opening insights into the amount of cash that passes through the Vatican Bank’s coffers. This particular article, penned by Rome correspondent Nick Squires and dated May 25, 2015, reads in part as follows:
“Once tainted by scandal and intrigue, the Vatican bank has managed to increase its profits by more than 20 times since embarking on a comprehensive drive for transparency and accountability ordered by Pope Francis.
“The bank announced on Monday that it earned €69.3 million (£49 million) in 2014 – up from €2.9 million the previous year”.
Squires continues, “Profits plummeted in 2013 as a result of a dramatic dip in the value of the bank’s gold reserves, two substantial write-offs and the cost of employing a team of forensic accountants to review the murkiest corners of its finances.
“The outside consultants were brought in to bring the bank…into compliance with tough anti-money laundering regulations.
“The gold price did not move in our favour (in 2013) and there were the extraordinary effects of two substantial write-offs, one on an investment equity fund made by the previous management of the bank and the other on a bond issue for a media company,” Max Hohenberg, a bank spokesman, told The Telegraph.
“Plus we had high consultancy and legal fees to pay. So 2013 was not a normal year – we had a massive clean-up of the balance sheet. Now we are back to normal…”.
Squires concludes, “Until the reforms ordered by Pope Francis, the bank had a distinctly patchy record on financial propriety and transparency."