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German Lawyer To Head Vatican Bank

Tyler Durden's picture




 

A German pope may be vacating the Vatican but a German lawyer is about to head its bank, an institution some say is as important if not more, and whose shady dealing some say may have been the reason for the pope premature departure. Per Reuters, "The Vatican appointed German lawyer Ernst von Freyberg to be the new president of its bank on Friday, filling a post left vacant since May when the previous head was ousted from the scandal-tainted institution. The appointment was made by a commission of cardinals and approved by Pope Benedict and is likely to be one of his last major decisions before he resigns at the end of the month. The Vatican has been trying to shed a reputation for a lack of financial transparency at the bank, officially known as the Institute for Works of Religion (IOR), but has been dogged by scandals for decades." And no, apparently he does not work for Goldman.

More:

A Vatican statement said Freyberg brought "a vast experience of financial matters and the financial regulatory process." Born in 1958, he is on the advisory board of temporary employment agency Manpower GmbH and of asset management firm Flossbach von Storch AG.

 

In May, the board of the IOR unanimously passed a no confidence motion against then head Ettore Gotti Tedeschi, an Italian.

 

Like Gotti Tedeschi, the new bank chief is a devout Catholic.

 

The Vatican said some 40 people from around the world were considered for the post.

 

Vatican spokesman Father Federico Lombardi, in answer to a question at a news briefing, said Freyberg was not a personal friend of the pope's.

Von Freyberg's bio as reported by Bloomberg:

Mr. Ernst von Freyberg is the Co-Founder and Managing Director of DC Advisory Partners GmbH. Ernst von Freyberg worked for Three Cities Research, Inc., an investment company forming part of the Bemberg Group, in New York and London from 1988 to 1991, before co-founding DC Advisory Partners. He is a member of various supervisory boards including Deutsche Malteser gGmbH, Flossbach & von Storch AG and Magirus AG. Mr von Freyberg has qualified as a lawyer

And from Spiegel, google translated:

Freyberg, 54, is among other merger adviser, Lord of the Manor and Knight of the Sovereign Military Order. The consulting firm DC Advisory lists him as authorized to represent president . Freyberg lives according to Radio Vatican in Frankfurt, the Vatican, but assumes that the financial professional in the future will spend several days a week in Rome.

 

Freyberg to improve the reputation of the Vatican Bank. The Institute with the official name Institute for Works of Religion (IOR) is always find yourself back in the criticism . He is accused for a long time, not doing enough to combat money laundering. For years, urging the European and the national supervisory authority of the Pope, the bankers to apply the prescribed rules for all EU institutions also behind the Vatican walls.

 

Especially anonymous numbered accounts whose holders for credit transfers, check cashing and similar transactions are not identifiable are considered suspicious. In the past, should be third-world dictators and mafia trustee as corrupt politicians and rich tax evaders have used these accounts. Accurate you do not know - the Vatican leaves nobody look into their account books.

 

Pope Benedict XVI. had tried in the past four years to ensure transparency. He produced, among other things, a regulatory body set up to oversee the finances of the Institute. But the controls were found to apparently inadequate. Overseer of the European Council of the Vatican Bank attested two years ago with serious shortcomings in the monitoring of money laundering, tax fraud and the financing of terrorism, reported the TV channel Sky .

 

The Vatican Bank manages the TV station, according to Finance in the amount of about four billion euros and a total of some 33,400 accounts. The Principals had been vacant since May 2012. The former top executive Ettore Gotti Tedeschi had to go eight months ago. He resigned after a vote of no confidence by the Supervisory Board. Against Tedeschi run investigations on suspicion of money laundering . Interim chief Ronaldo Schmitz had commissioned an international recruitment agency with the search for a new manager, said Vatican spokesman Federico Lombardi.

Keep an eye on this story: it will get much more interesting in the coming months.

 

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Fri, 02/15/2013 - 09:34 | 3245942 LawsofPhysics
LawsofPhysics's picture

So long as they have the government(s) and taxpayer-funded bailouts for their entire industry in their pocket, everyone works for goldman.

Fri, 02/15/2013 - 09:37 | 3245953 goldfish1
goldfish1's picture

the pope...sure doesn't cut a wholesome picture

the banker...he know's he's good... picture captures absolutely no morals

Fri, 02/15/2013 - 09:47 | 3245981 AssFire
AssFire's picture

Let's see how he faces a tough dilemma: like half priced ham.

Fri, 02/15/2013 - 10:15 | 3246113 SamAdams
SamAdams's picture

Isn't the English Crown German?  I wonder where the suffix "berg" originates?

Fri, 02/15/2013 - 10:27 | 3246167 jcaz
jcaz's picture

A smirking banker- ALWAYS a sign of good times to come......

Fri, 02/15/2013 - 10:27 | 3246169 AssFire
AssFire's picture

Meet the new Berg,

Same as the old Stein

Fri, 02/15/2013 - 12:30 | 3246652 Bananamerican
Bananamerican's picture

"Institute for Works of Religion" 

Nice name.

If I was the Devil i would totally own this gig...

Fri, 02/15/2013 - 13:56 | 3247006 Id fight Gandhi
Id fight Gandhi's picture

He's not the tribe.

Fri, 02/15/2013 - 10:30 | 3246183 bank guy in Brussels
bank guy in Brussels's picture

Maybe Ernst von Freyberg can avoid being 'suicided' like previous Vatican-tied banker Roberto Calvi ... even the mainstream media version sounds spooky:

« 1982: 'God's banker' found hanged
The body of a top Italian banker has been found hanging from Blackfriars Bridge in London.

 Known as God's banker for his links with the Vatican, 62-year-old Roberto Calvi was ... a central figure in a complex web of international fraud and intrigue.

He had been missing for the last nine days before his body was discovered by a passer-by hanging from scaffolding on a riverside walk under the bridge.

Police are treating the death as suicide ... »

http://news.bbc.co.uk/onthisday/hi/dates/stories/june/19/newsid_3092000/...

Fri, 02/15/2013 - 15:37 | 3247354 11b40
11b40's picture

I don't know much about the Pope, or the Catholic Church, for that matter, and know nothing of this new banker.

I am, however, pretty sure he will be very busy trying to preserve the Church capital if the allegations in this report are true:

http://www.addictinginfo.org/2013/02/14/pope-allegedly-sought-immunity-f...

"Well, for once, the guy might not get off easy. The International Tribunal into Crimes of Church and state calls upon the Italian President to deny help to Ratzinger, and to “not collude in criminality. Let’s just hope that Napolitano does not cave. However, there may be another avenue to make sure the Pope is brought to justice if the Italian President does cave.

It seems that in addition to these alleged attempts by this European government to prosecute, a New York based organization, The Centre for Constitutional Rights, has accused the Pope and his Cardinals of possible crimes against humanity for sheltering pedophile priests. The non-profit legal group has requested an ICC inquiry on behalf of the Survivor’s Network, citing the church’s “long-standing and pervasive system of sexual violence.”2

Fri, 02/15/2013 - 09:45 | 3245976 TideFighter
TideFighter's picture

So, do you haft papals for deez papals? 

Fri, 02/15/2013 - 11:21 | 3246374 skydrake
skydrake's picture

 

"So long as they have the government(s) and taxpayer-funded bailouts for their entire industry in their pocket, everyone works for goldman."

 

....as the next pope?

 

Fri, 02/15/2013 - 09:32 | 3245943 Ratscam
Ratscam's picture

another freemason, ritual driven, closed minded, greedy, bankster, lawyer psychopath

Fri, 02/15/2013 - 10:18 | 3246122 Ghordius
Ghordius's picture

I beg to differ, mason and maltese knight are quite mutually esclusive

the one connection I was looking for is if he ever worked for or with Deutsche Bank, which is more relevant for the current Vatican troubles

Fri, 02/15/2013 - 10:24 | 3246157 SamAdams
SamAdams's picture

the laundry list and pay-in cash is the real deal here....

Fri, 02/15/2013 - 11:00 | 3246302 rlouis
rlouis's picture

I expected to see that he had been trained by Jesuits and was a member of Opus Dei

Fri, 02/15/2013 - 13:21 | 3246849 Sandmann
Sandmann's picture

Deutsche Bank under Hermann Josef Abs did just what Goldman and JP Morgan do today - acquire sovereign states for plunder using a war machine to enforce

Fri, 02/15/2013 - 10:22 | 3246147 SamAdams
SamAdams's picture

The Blue Lodge gets very distraught when such things are mentioned, but even they are beginning to turn.  This is a new age of consciousness.  So, as many people think things are as bad as ever, in fact, never have so many people become aware.  That is why the aristocrat/fuedal system is in full panic mode:  crashing the economy, crashing the towers, gunning for Newtown.  This will either be the turning point, or the end of it all (until the next time anyway ;-)

Fri, 02/15/2013 - 09:34 | 3245946 Super Broccoli
Super Broccoli's picture

where does Ernst come from ? let me guess, GS ?

Fri, 02/15/2013 - 09:39 | 3245961 NoDebt
NoDebt's picture

"apparently he does not work for Goldman."

Read first, then comment.

Lack of GS backround would ordinarily be a disqualifying shortcoming, but the Vatican plays by it's OWN rules.

Fri, 02/15/2013 - 09:41 | 3245967 Seer
Seer's picture

Give the vegetable a break!  When one is a vegetable it's pretty remarkable that one can even speak, let alone operate a computer!

Fri, 02/15/2013 - 11:59 | 3246509 Super Broccoli
Super Broccoli's picture

i'm not really a vegetable, i'm Fed's president IRL

so it's a very busy position you know, i'm responsible for hitting Prt key as much as possible and i don't always have the time to read the entire article ...

Fri, 02/15/2013 - 09:38 | 3245957 rogeliokh
rogeliokh's picture

GOLD tanking like penny stock now. F**king manipulators at large.
Same Shit same time, Different day 1615.. Vertical drop.

Fri, 02/15/2013 - 09:39 | 3245960 Seer
Seer's picture

"And no, apparently he does not work for Goldman."

BUT! Lloyd Bank-fiend does, and, according to him, HE works for God!  So, both report to God.  I'd have to say, then, that GS is a subsidiary to God Inc. (which the Vatican is also a subsidiary of).  The connection IS there! :-)

Fri, 02/15/2013 - 12:43 | 3246707 The Proletariat
The Proletariat's picture

Agreed....but their definition of GOD is actually an acronym ~ Gold, Oil, & Drugs (or Dollars)

Fri, 02/15/2013 - 20:27 | 3248266 mkhs
mkhs's picture

There have been many gods throughout history.  What makes you think they worship the same one?

Fri, 02/15/2013 - 09:39 | 3245963 francis_sawyer
francis_sawyer's picture

Freyberg huh? [crickets]

Fri, 02/15/2013 - 09:43 | 3245968 Seer
Seer's picture

Seems pretty confusing, what with the church having supported Hitler and all...

Fri, 02/15/2013 - 09:45 | 3245973 francis_sawyer
francis_sawyer's picture

They say the motive is to create 'more Transparency'... ummm ~ OK

Fri, 02/15/2013 - 10:06 | 3246064 Seer
Seer's picture

Well, if things are so transparent then that means that you CAN'T see them!

Think of: "depends on what the meaning of 'is' is"

Fri, 02/15/2013 - 13:51 | 3246986 Id fight Gandhi
Id fight Gandhi's picture

The new guy is not a jew.

Pius xii did not work with nazis. He kept quiet to avoid Catholics being drawn into it. They did save hundreds of thousands of refugees who were jews some of whom in turn try to ruin the church.

Fri, 02/15/2013 - 09:43 | 3245969 HD
HD's picture

Not from Goldman? Is that legal?

Of course, it makes sense. No one from Goldman wants to run the risk of coming into contact with holy water.

Fri, 02/15/2013 - 20:29 | 3248275 mkhs
mkhs's picture

Vampires don't do well with crucifixes, too.

Fri, 02/15/2013 - 09:45 | 3245974 CrimsonAvenger
CrimsonAvenger's picture

The real impact has yet to be reported: Kevin sent his resume and didn't even get an interview. Expect a more vigorous pounding than usual as he works off some steam.

Fri, 02/15/2013 - 10:04 | 3246059 El Hosel
Fri, 02/15/2013 - 10:03 | 3246051 irishlink
irishlink's picture

Reports have been circulating that the Vatican Bank is broke. Who is giving money to the church these days and the cost of the child abuse scandals have all added up. Maybe they also resorted to magic derivitevesto offset declning income.The decesion of the pope to resign was very sudden and not the nine month search of consciencce as portrayed Why would he set up a twitter page in early Dec 2012 if he was about to step down in March 2013. Something very fishy going on here and maybe it is linked to the other large Italian Bank Monti Paschi

Fri, 02/15/2013 - 10:09 | 3246082 Seer
Seer's picture

Power corrupts.  The Vatican is no more than another scheme by the power-hungry to leach off the masses.

Fri, 02/15/2013 - 10:15 | 3246106 francis_sawyer
francis_sawyer's picture

Combine the 'Council of Nicaea' conclave with the Rothschild banking network... What's that spell?

~~~

Note: any 'Vatican Bank' trouble is a load of crap... They are the largest landowners on the planet...

Fri, 02/15/2013 - 10:23 | 3246154 Ghordius
Ghordius's picture

"largest landowners on the planet..." confusing Pope with Queen?

Fri, 02/15/2013 - 11:07 | 3246320 Pseudo Anonym
Pseudo Anonym's picture

no, not really,

confusing Pope with Queen?

no confusion here.  vatican owns the crown: " ... the British Royal Crown was placed into the hands of the Knights Templars, and how the Crown Templars became the fiscal and military agents for the Pope of the Roman Church."

credits: http://nesara.insights2.org/CrownTemplars.html

Fri, 02/15/2013 - 11:49 | 3246477 Ghordius
Ghordius's picture

"vatican owns the crown" LOL pls don't tell the Queen

The Templars? They suffered the same fate I wish upon the Squid

fitting, if you consider the similarities

Fri, 02/15/2013 - 13:13 | 3246803 earleflorida
earleflorida's picture

When Constantine gave credibility and credence to the christian church via the 'Edict of Milan', the Pope's were not allowed to marry?

But, the priest could if they so chose... their was nothing in the christian teachings/dogmas to prevent priest from living normal, functional natural lives! Sadly, the corrupted popes could not garnered avarice wealth without a land grab-- as most if not all priest at the time were wealthy, educated land owners... and, having a wife was an obstacle for the conclave of corruptible's, in the name of Christianity! 

You see... in order to get the land from going to the widow or family siblings the corruptible's decree'd celibacy as mandatory, and that meant 'no marriage'! Thus, conveniently when said humbled priest died, their wealth and land was transferred to the 'corrupted church'. 

 Since this decree, priest were to be abnormally deprived of any kind of a normal family, and sex life... all the while the Christian Church became the wealthiest land owners in all of Europe!

jmo

http://en.wikipedia.org/wiki/Edict_of_Milan

http://en.wikipedia.org/wiki/Constantine_I_(emperor)

 

      

Fri, 02/15/2013 - 13:20 | 3246841 Sandmann
Sandmann's picture

"normal sex life" - you clearly aren't living in the 21st Century where Abnormal is the new normal

Fri, 02/15/2013 - 13:19 | 3246835 Sandmann
Sandmann's picture

The Queen of England owns all the land between Canada and Mexico and would like it back so let's revoke the Treaty of Paris 1783 and end the Insurrection

Fri, 02/15/2013 - 17:47 | 3247858 jcaz
jcaz's picture

Great- here's California for ya, enjoy the liens.....

Fri, 02/15/2013 - 10:25 | 3246161 Seer
Seer's picture

"Note: any 'Vatican Bank' trouble is a load of crap... They are the largest landowners on the planet..."

Well, land isn't all that liquid.  Perhaps this is what's rally going on, that they have some liquidity problems?  Who would get uppity with the Vatican about a payment on something?  Imagine what kind of publicity/propaganda wave that would be unleashed!

Fri, 02/15/2013 - 10:13 | 3246099 Bahamas
Bahamas's picture

His eyes in the picture have some kind of reptilian look in the pupils.

Fri, 02/15/2013 - 10:16 | 3246115 TNTARG
TNTARG's picture

Rotschild's "Cavalieri di Malta" Ernst von Freyberg to head Vatican Bank.

Business are OK among Mayer Amschel Rotschild's dynasty. All is well.


Fri, 02/15/2013 - 10:26 | 3246165 Ghordius
Ghordius's picture

Rotschild's "Cavalieri di Malta" ??? Where does this come from?

Fri, 02/15/2013 - 11:11 | 3246342 TNTARG
TNTARG's picture

And it's so public.

Al vertice dell'Istituto per le Opere Religiose l'avvocato d'affari tedesco e membro del ramo germanico dell'Ordine di Malta. Padre Federico Lombardi: "Per la selezione dei candidati utilizzata l'agenzia Spencer & Stuart".

http://www.repubblica.it/esteri/2013/02/15/news/ior_nuovo_presidente_von...

Fri, 02/15/2013 - 10:18 | 3246119 Bahamas
Bahamas's picture

All these banking and industrial scandals in Italy, involving Monte dei Paschi, Finmeccanica, Saipem, Eni, Banca di Spoleto,Banco Desio and last but not least the I.O.R....and still no one is hanging down from a bridge...only this baldassarri guy has been arrested and they make such a big deal that he had 30.000 euros cash with him, like you can do stuff with 30 miserable thousand euros.

Fri, 02/15/2013 - 10:21 | 3246144 RonBurgundy
RonBurgundy's picture

What will the P-2 Lodge say? Oh well, Weishaupt was a Bavarian

Fri, 02/15/2013 - 10:23 | 3246145 Pseudo Anonym
Pseudo Anonym's picture

that's just too funny:

The Vatican has been trying to shed a reputation for a lack of financial transparency at the bank, officially known as the Institute for Works of Religion (IOR)

the banksters bank is called the "institute for works of religion (ior)"; which owns your house, btw:

http://troyspace2.wordpress.com/2008/12/25/excerpts-from-does-the-vatica...

 

Fri, 02/15/2013 - 10:31 | 3246191 israhole
israhole's picture

German Jew maybe, but always a Jew first.

Fri, 02/15/2013 - 11:32 | 3246417 Thisson
Thisson's picture

He is a catholic, you moron.

Fri, 02/15/2013 - 12:53 | 3246747 TNTARG
TNTARG's picture

Their one and only religion is money whatever it takes.

One has to admit, they're so fuc..g good in setting up façades!

Fri, 02/15/2013 - 10:46 | 3246251 Pseudo Anonym
Pseudo Anonym's picture

that's all i need to know:

Freyberg, 54, is among other merger adviser, Lord of the Manor and Knight of the Sovereign Military Order

smom:

http://www.mosquitonet.com/~prewett/caqsmom25.1.html

http://www.bibliotecapleyades.net/sociopolitica/esp_sociopol_malta01.htm

Fri, 02/15/2013 - 13:39 | 3246922 tip e. canoe
tip e. canoe's picture

yes it is all beginning to tie together, isn't it?

http://www.news.va/en/news/vatican-maltas-knights-celebrate-900-years-of...

hell of a week

betya a silver dime one of the african cardinals gets it.

Fri, 02/15/2013 - 13:55 | 3246998 tip e. canoe
tip e. canoe's picture

courtesy of tradewithdave:

http://www.news.va/en/news/full-text-note-on-financial-reform-from-the-p...

A supranational Authority of this kind should have a realistic structure and be set up gradually.

Fri, 02/15/2013 - 10:55 | 3246284 y3maxx
y3maxx's picture

...So if now we are getting a German Banker to head the Vatican Bank,

it's logical for Cardinal Moses Kugelman to become the first Jewish Pope...

https://www.youtube.com/watch?v=gnULTWUr8RE

Fri, 02/15/2013 - 11:06 | 3246319 rlouis
rlouis's picture

I know the Vatican Bank is a member of the world's Central Bankster Club, but hadn't thought about private numbered accounts for 3rd world dictators. Neo-nazi arms dealers and Mafia drug dealers, yes, I knew that.

Fri, 02/15/2013 - 11:08 | 3246325 Republic4all
Republic4all's picture

You have to wonder if this fella is related to the fellas that just dumped 90million ounzes of paper silver into the market!!!  FOUL! FOUL! FOUL!

Fri, 02/15/2013 - 11:24 | 3246345 virgilcaine
virgilcaine's picture

Nazi's run the Vatican? I left the RC Church Yrs ago.. Ran out the front door never to be seen again. I beleive it to be a criminal enterprise now.. just another cartel if u will. Pitty for those who still remain in its grasp. I beleive they went off track around the 14th century or so.. somewhere around that time.

Fri, 02/15/2013 - 11:27 | 3246400 Bahamas
Bahamas's picture

That him who pretends to know about the Vatican is a fool, since no other such secretive organization exists on earth.

Fri, 02/15/2013 - 11:34 | 3246420 virgilcaine
virgilcaine's picture

One friend of ours would make a run down the hallway  and through the front doors of the School to escape for the weekend.. what a sight it was to see him drop his books and make a run for it. As we all stood in line and cheered him on!

Fri, 02/15/2013 - 12:28 | 3246638 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Give him some hexagonal glasses and he becomes Herr Flick

Sun, 02/17/2013 - 19:02 | 3251882 dolly madison
dolly madison's picture

He looks like Colonel Klink.

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