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Vatican Bank To Shut All Embassy Accounts To Halt Money Laundering

Tyler Durden's picture


Followng Pope Francis' demand that the Vatican Bank review its procedures, Reuters reports that the bank is likely to close all accounts held by foreign embassies, following concerns about large cash deposits and withdrawals by the missions of Iran, Iraq and Indonesia, according to people with knowledge of the situation. The private bank IOR has around EUR7.1 billion in assets but is concerned it could be "an unwitting vehicle for money laundering and other illicit finances."



The Vatican bank is likely to close all accounts held by foreign embassies, following concerns about large cash deposits and withdrawals by the missions of Iran, Iraq and Indonesia, according to people with knowledge of the situation.


The Vatican's financial watchdog, which examined the transactions in 2011, believed the embassies' justifications for the transactions were too vague or disproportionate to the amounts -- up to 500,000 euros at a time -- these people said. In one case, a large cash withdrawal was said to be for "refurbishment", one person added.


Now the bank and the watchdog want to reduce the possibility that the Institute for Religious Works (IOR), as the bank is called, could be an unwitting vehicle for money laundering and other illicit finances.


Four people with knowledge of the matter said the closure of the accounts was likely to be a key recommendation of a broad review that Pope Francis has ordered of the bank, whose scandal-tainted history has long been an embarrassment for the Holy See.




The IOR is a private bank - currently with about 7.1 billion euros in assets under management - whose stated goal is to hold and manage funds for religious orders of priests and nuns, Catholic charities, Vatican employees, and other Catholic institutions. But the number of account holders has swelled to 19,000 over the years and diversified beyond the original categories with the right to hold accounts.




The bank is also coming clean on possible illicit financial activities. The Vatican has said it detected six possible attempts to use the IOR to launder money last year, and at least seven in the first half of this year. In one case, a prelate who had close ties to the IOR was arrested in June on suspicion of plotting to smuggle 20 million euros in cash into Italy from Switzerland to give to rich friends in southern Italy. The prelate, who will be tried in December, says he was not acting for personal gain.


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Mon, 09/30/2013 - 19:21 | 4007481 bigdumbnugly
bigdumbnugly's picture

Holy sh*t !

or is it Holy Shiite?

Mon, 09/30/2013 - 19:32 | 4007523 Running On Bing...
Mon, 09/30/2013 - 19:38 | 4007552 blindman
blindman's picture

does the pope shit in the woods?

Mon, 09/30/2013 - 19:41 | 4007564 knukles
knukles's picture

Do gay priests wear little red corsets?

Mon, 09/30/2013 - 19:52 | 4007616 nmewn
nmewn's picture

"Render therefore to Caesar the things that are Caesar’s" ;-)

Mon, 09/30/2013 - 20:00 | 4007630 NoDebt
NoDebt's picture

It's getting so bad you can't even launder money through the Vatican Bank any more.  If they're not safe for nation-state level criminals to do their banking, who is?

I have to admit, this guy is kind of growing on me.

Mon, 09/30/2013 - 20:01 | 4007650 the0ther
the0ther's picture

You can still put your ill gotten funds into Manhattan real estate bud.


Mon, 09/30/2013 - 20:02 | 4007656 nmewn
nmewn's picture

The Federal Reserve, the Morgue, Al Sharpton

Mon, 09/30/2013 - 20:40 | 4007771 DeadFred
DeadFred's picture

There's an easy fix to this. Just get those suspect missions to invest in high end US real estate. Every cardinal should have a $50 million dollar penthouse on Park Avenue.

Tue, 10/01/2013 - 01:06 | 4008717 Joe A
Joe A's picture

They would prefer dungeons

Mon, 09/30/2013 - 20:45 | 4007784 Burticus
Burticus's picture

Large cash withdrawals in (act surprised) Iran & Iraq?  Hmmm, I wonder who could be interested in those remote, non-Catholic countries?  Apparently, "the Rat," a/k/a the German Shepherd, has been looking the other way like a referree on TV wrestling while the Great Satan and its minions used the Vatican Bank for their demonic schemes.

However, the pope-mobile should serve as a reminder of what happened to the last sincerely spiritual pope and to one of the last honest U.S. presidents who refused to de-monitize silver and challenged the (not really) Federal (with no) Reserve.

Mon, 09/30/2013 - 22:01 | 4008047 Telemakhos
Telemakhos's picture

I doubt the US had much involvement in the transfers themselves.  The US, Britain, and most western countries don't have accounts with IOR; if you read the full Reuters article, fewer than two dozen countries have accounts there.  Since these are embassy accounts, they're Official Business for those nations, not the CIA's local front company in Nowheristan.  Now, whether the US shared financial intelligence with the IOR investigative staff is another question, but given the small amounts involved, and the fact that they were all reported at the Vatican-Italian border (which is why they were noted and caught), I'm guessing no again.

Remember, Wachovia was laundering more than $100 billion every year for drug lords (who may or may not have direct or indirect ties with US intelligence).  This iteration of the IOR scandal tops out at three or four billion a year, or about four percent of what one US bank does in the same time.  The Great Satan and its minions play for far larger stakes than this business.  On a global scale, God himself probably doesn't know how much gets laundered through the City, Cyprus, various Asian nations, etc.  The IOR sounds like it's pretty clean by comparison.

The more interesting story here is what got cut, except for the last little morsel, in the ZH summary: the APSA prelate who got busted smuggling €20 million in from Switzerland.  Sure, it's small change in the money laundering world, but he was caught along with an Italian intelligence officer carrying money for "friends in southern Italy," which has to be a euphemism for organized crime.  If the prelate really wasn't acting out of self-interest, as he claims, that raises some interesting questions about in whose interests he was acting, and whether there are unofficial relationships between the Church, the Italian intelligence community, and the mafia.

Tue, 10/01/2013 - 00:21 | 4008590 August
August's picture

>>>whether there are unofficial relationships between the Church, the Italian intelligence community, and the mafia.


Mon, 09/30/2013 - 20:26 | 4007731 Miffed Microbio...
Miffed Microbiologist's picture

Jesus said this when shown a silver denarius engraved with the image of Tiberius. Since the Vatican uses the euro and the image is struck with Pope Benedict does he get the cash? Since its not silver but plated steel, maybe it's best to let the ECB have it.


Mon, 09/30/2013 - 21:22 | 4007911 nmewn
nmewn's picture

lol...its one of the small minded memes that progressives "Luv" to use out of they are deceivers, the object being to them, Jesus' endorsement of taxation, of statism, of consenting to the evil of worldly things.

Hubris and gall.

He said no such thing. He only acknowledged the power of evil in the world, to do you harm in this world. Tiberius was a pedophile, sexual deviant and a murderer. Jesus would not, could not, endorse Caesar.


Men (and women) will never achieve god status in spite of their egos telling them they can, they need to get over it. Sainthood, is a longshot possiblity. Martyrdom, whenever they choose. Angels, need to be reborn in good & bad form.

All I know is, I ain't no saint, never claimed to be or deserve to be (to many transgressions here) but I will be forgiven for what I do against Caesar's Law.

I would rather be a servant in Heaven than a king in hell anyways, to turn Milton upside down ;-)

Mon, 09/30/2013 - 21:46 | 4007990 Miffed Microbio...
Miffed Microbiologist's picture

When one reads the passage it is clear there is no acknowledgment for taxation. However it can easily be manipulated so. It was a masterful trap to catch Jesus which he artfully escaped both the condemnation of Jewish leadership and roman authority. It is to place god above the whims and rules of Man.

Tiberius was the embodiment of sexual perversion. I had an opportunity to visit Capri( I regretted not doing it later) but since that was his headquarters for sexual abominations on children I thought I may get a bad vibe. That Tiberius chose Caligula as his successor meant he had to scrape even lower to leave a legacy where those would miss his rule.


Tue, 10/01/2013 - 02:43 | 4008836 Ghordius
Ghordius's picture

"Tiberius was the embodiment of sexual perversion" - and who wrote that? a few clerics in the middle ages who were commenting on the supposed custom of those times of having young "pool boys & girls" at parties that were supposed to surprise guests swimming in the pools by diving and tickling them

further, Tiberius followed Augustus, not Caligula

Tue, 10/01/2013 - 12:41 | 4010253 Miffed Microbio...
Miffed Microbiologist's picture

I said Tiberius chose Caligula to succeed him. I did not say Caligula proceeded him. Augustus, Tiberius, Caligula, Claudius, Nero. None of them the epidemy of the example of moral life.


Tue, 10/01/2013 - 02:48 | 4008837 Ghordius
Ghordius's picture

"When one reads the passage it is clear there is no acknowledgment for taxation" - that's why it's called context

Tue, 10/01/2013 - 14:34 | 4010797 Miffed Microbio...
Miffed Microbiologist's picture

My goodness Nmewn do you think I was parroting the party line about rendering unto Caesar what is Caesar as a validation of taxation? Dear God man who the fuck do you think I am? I was merely turning their idea into a joke.

I take the quote literally. I render unto Caesar what is Caesars. My wages and the fruits of my labors are MINE therefore how does "Caesar" have any right to them? I owe nothing to Caesar. When I was young I took out a student government loan. I paid it off at 7% interest. The government and I are square. Any other interaction has been me being repeatedly raped by them. I expect I will never be paid back what is due me and my only choice now is becoming more and more invisible to them to make their job harder. Then, if fortune is in my favor, I will help with the guillotining.


Thu, 10/03/2013 - 00:20 | 4017353 Angus McHugepenis
Angus McHugepenis's picture

Miffed my love.... Ceasar gets fuck all from here on in. The big C got fuck all from me for the past 15 years.

Still got  a little sparkly for you. I'm working it out how to get it to you. I've done some shipments and they've gone through no problem.

Oh, hi Mr. Miffed.

Mon, 09/30/2013 - 20:14 | 4007697 stocktivity
stocktivity's picture

Wait a minute here!  Don't these guys have God backing them up? They wouldn't launder any money...c''s the Vatican for heavens sake! These bankers are above all that.

Mon, 09/30/2013 - 21:00 | 4007835 bread n circuses
bread n circuses's picture

"Capitalism breathes through loopholes."



This one closed but 2 more will open.


Mon, 09/30/2013 - 19:18 | 4007482 Stoploss
Stoploss's picture

Shouldn't the finger lines on the popes hands be vertical in that pic?

Mon, 09/30/2013 - 23:24 | 4008278 Lore
Lore's picture


No update on the probe (no pun intended) into a sodomite child prostitution ring in Vatican City? 

Vatican Rentboy and Satanism Claims Revealed by Priest (27-Jun-2013)

Pope says child rape isn't that bad, was normal back in his day (2010)

Mon, 09/30/2013 - 19:18 | 4007483 NoWayJose
NoWayJose's picture

Unwitting - haha, haha, haha... They knew all along what was happening. They know it now too - only now the spotlight is on them...

Mon, 09/30/2013 - 19:26 | 4007508 in4mayshun
in4mayshun's picture

Evidently money laundering is a big sin. Child

Mon, 09/30/2013 - 19:20 | 4007484 lolmao500
lolmao500's picture

Damn. Balls in the Vatican. Make the pope the president of the IMF.

Mon, 09/30/2013 - 19:31 | 4007531 Harbanger
Harbanger's picture

Maybe. This Pope refuses to be driven around in the bulletproof Popemobile, that takes some courage.

Mon, 09/30/2013 - 19:44 | 4007576 CPL
CPL's picture

He's got back up.

Mon, 09/30/2013 - 19:51 | 4007615 krispkritter
krispkritter's picture

After getting all of the Pope’s luggage loaded into the limo,  the driver notices the Pope is still standing on the curb.

‘Excuse me, Your Holiness,’ says the driver, ‘Would you please take your seat so we can leave?’

‘Well, to tell you the truth,’ says the Pope, ‘they never let me drive at the Vatican when I was a cardinal, and I’d really like to drive today.’

‘I’m sorry, Your Holiness, but I cannot let you do that. I’d lose my job! What if something should happen?’ protests the driver, wishing he’d never gone to work that morning.

‘Who’s going to tell?’ says the Pope with a smile.

Reluctantly, the driver gets in the back as the Pope climbs in behind the wheel. The driver quickly regrets his

decision when, after exiting the airport, the Pontiff floors it, accelerating the limo to 205 kph.

'Please slow down, Your Holiness!’ pleads the worried driver, but the Pope keeps the pedal to the metal until they hear sirens.

'Oh, dear God, I’m going to lose my license –and my job!’ moans the driver.

The Pope pulls over and rolls down the window as the cop approaches, but the cop takes one look at him, goes back to his motorcycle, and gets on the radio.

‘I need to talk to the Chief,’ he says to the dispatcher.

The Chief gets on the radio and the cop tells him that he’s stopped a limo going 205 kph.

‘So bust him,’ says the Chief.

‘I don’t think we want to do that, he’s really important,’ said the cop.

The Chief exclaimed,’ All the more reason!’

‘No, I mean really important,’ said the cop with a bit of persistence.

The Chief then asked, ‘Who do you have there, the mayor?’

Cop: ‘Bigger.’

Chief: ‘ A senator?’

Cop: ‘Bigger.’

Chief: ‘The Prime Minister?’

Cop: ‘Bigger.’

‘Well,’ said the Chief, ‘who is it?’

Cop: ‘I think it’s Christine Lagarde!’

The Chief is even more puzzled and curious, ‘What makes you think it’s her?’

Cop: ‘Her chauffeur is the Pope!’

Mon, 09/30/2013 - 20:54 | 4007796 Miss Expectations
Miss Expectations's picture

A catholic woman moved into a new town and wanted to become involved with the local chuch.  After Sunday sevices she introduced herself to the Priest and mentioned that she would like to be involved with the churches' volunteers.  The priest said that on Tuesday afternoon the ladies who volunteer would be having an afternoon tea/get together in the rectory and that she would certainly be welcome to join them.

So, on Tuesday, Alice returned to the church and joined 3 other women at one of the tables where they all seemed to be enjoying some tea and homemade cakes.  They began to chat and one of the woman began to tell a story about her son, who had just taken his final vows to become a priest.  She said, "I was with my son last weekend and it was the first time I heard young women calling my son Father.  It's going to take some getting use to."   The second woman at the table nodded her head and agreed it would take some time.  She said, "My son became a Bishop some years ago and I just can't get over it... people address him as Your Excellency.  The third woman sitting with them now spoke up.  Agreeing with the others, she spoke about her son and mentioned that he was a Cardinal.  She mentioned that the first time someone called him Your Eminence she had no idea who they were talking to!  Finally, they turned to Alice who had been listening politely.  "Alice, do you have any children?"  "Yes, I also have a son" Alice replied.  "Let me tell you about my son.  He's 6'3" tall, has blue eyes and blond hair."  When he walks into a room, all the women stop and stare and say Oh MY God!"

Mon, 09/30/2013 - 22:07 | 4008066 Angus McHugepenis
Angus McHugepenis's picture

krispkritter: Christ, that Pope joke should generate a Jesus load of greenies for you. I have to buy a new laptop now. I laughed so hard my ass developed a second crack.

Mon, 09/30/2013 - 19:47 | 4007580 The Phu
The Phu's picture

The IMF doesn't need any help fucking the poor children in underdeveloped countries.


---before you down vote me, I'm Catholic--- now you can down vote me.

Mon, 09/30/2013 - 19:58 | 4007635 nmewn
nmewn's picture

I'm Protestant, up voted you, just to be a contrarian, again.

It'll cost you five Hail Mary's though...and me at least one

Mon, 09/30/2013 - 20:01 | 4007648 krispkritter
krispkritter's picture

Make it 5 Bloody Mary's and you got a deal!

Mon, 09/30/2013 - 20:01 | 4007652 The Phu
The Phu's picture

Hail Mary, full of grace... aw forget it...  A lot of people on here can't take a joke. 


Lord, I'm not ready to receive you, but only say the word and I shall be healed. (old version on purpose, I don't like the new one).

Mon, 09/30/2013 - 20:46 | 4007786 F-Tipp
F-Tipp's picture

I like the old version too.

Mon, 09/30/2013 - 21:33 | 4007950 geekgrrl
geekgrrl's picture

Ex-Catholic here, and in my opinion, the best thing that could ever happen to the world would be the elimination of fundamentalist religion and dogma. Christian, Jewish, Islamic. All of it is crap and needs to be dispensed with.

Mon, 09/30/2013 - 22:42 | 4008166 Miffed Microbio...
Miffed Microbiologist's picture

That would be very hard geekgrrl. Many people have a need to cling to these religions to give themselves an anchor, a purpose, a way to view life. To yank that away would leave them lost. Some people thrive on dogmatic rules. I was raised Anglican and lean now to Buddhism ( which is technically a philosophy considering it has no articles of Faith) but I am a follower of Christ's teaching though unchurched. I think when you add a bureaucracy to religion and allow the power hungry to use it for their personal gain, it becomes corrupted.


Tue, 10/01/2013 - 00:15 | 4008559 geekgrrl
geekgrrl's picture

Given all the people who have been murdered in the name of religion, I cannot consider it as anything but a pathology of mind.

Mon, 09/30/2013 - 20:04 | 4007657 Miffed Microbio...
Miffed Microbiologist's picture

This guy is ballsy and I must admit, though im not a Catholic, I'm really impressed by some of his actions. Sadly, this means he probably wont be around too long. Hope he steers clear of hot tubs and wears body armor.


Tue, 10/01/2013 - 07:06 | 4008978 samcontrol
samcontrol's picture

He doesn't care about leaving us, he has been there and done that.

My faith has not come back yet but he f rocks. He is now third on my Argi list. Leo, Manu, Francisco.

Tue, 10/01/2013 - 12:54 | 4010289 Miffed Microbio...
Miffed Microbiologist's picture

He is fascinating. I must admit I am hopeful. Never have I been impressed with a pope during my life time. Of course we are in the early honeymoon phase but Im watching him closely

Interesting sermon the Pope gave about globalism caught my eye


Fri, 10/04/2013 - 00:30 | 4021504 geekgrrl
geekgrrl's picture

I'm also hopeful, but maybe less so that you. Do you know about the history of the Jesuits, starting with Loyola?

Mon, 09/30/2013 - 19:21 | 4007487 Pure Evil
Pure Evil's picture

Awesom, crime on a global spiritual scale.

And, who said the Pope wasn't the anti-Christ?

Mon, 09/30/2013 - 20:05 | 4007667 nmewn
nmewn's picture

Pretty sure that was O'Barry ;-)

Tue, 10/01/2013 - 02:52 | 4008839 Ghordius
Ghordius's picture

true pure evil! as Clinton would say, it depends on your definition of "Anti-". Which can mean "the one before the..."

Mon, 09/30/2013 - 19:20 | 4007488 bearish1
bearish1's picture

The Gold is under the Vatican!! Ssshhhh.....this is just between us.....

Mon, 09/30/2013 - 19:20 | 4007491 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Prolly has something to do with prior Pope's resigning.....

Mon, 09/30/2013 - 19:28 | 4007520 HedgeCock
HedgeCock's picture

I do believe you are on to something.

Mon, 09/30/2013 - 19:44 | 4007579 knukles
knukles's picture

Dere probly be sum troof...
During the last year or so of his time in office, I do recollect that there were several brouhahas concerning the bank, several changes of management and I believe some serious high level rumored political in-fights all surrounding the place.
Has a terrible history of shady dealings.

Mon, 09/30/2013 - 19:29 | 4007524 booboo
booboo's picture

Ooops, all that Black Budget money will have to find another home. Perhaps the Russians will hold it for the MIC.

Mon, 09/30/2013 - 19:28 | 4007516 Peter Pan
Peter Pan's picture

A long time ago, the mafia visited the Pope and gave him a one million dollar donation. After the Mafia left, the cardinals asked His Holiness how he could possibly accept such a gift.

The Pope replied.....the devil has had this money for too long.....let's see what we can do with it now."

The Anglican church in Australia some years ago lost a very big percentage by leveraging its investments in the stock market. The archbishop at that time bemoaned the fact that the church after such a big loss was in danger of becoming a sect. The use of the word sect greatly troubled me and clearly indicated that money was no longer a tool but a corrupting influence.

Also, decades of child abuse in the Catholic church in Australia went unreported and unpunished. Clearly, head office hushed these incidents to avoid monetary penalties as well as embarassment.

The new pope must either clean out the Catholic church or be resigned to His church becoming irrelevant. It appears he means well and I pray he succeeds for all people's sake.

Time for all churches to be transparent and accountable otherwise they will be corrupted and their flock will wander off.

Mon, 09/30/2013 - 19:32 | 4007530 I am a Man I am...
I am a Man I am Forty's picture

Nawwwww, ya don't say, child molesting and money laundering.  Too bad you have people that listen to these corrupt sickos.  People are such fucking stupid sheep.

Tue, 10/01/2013 - 07:19 | 4008995 samcontrol
samcontrol's picture

didn,t seem like a corrupt sicko to me.

Mon, 09/30/2013 - 19:33 | 4007538 reTARD
reTARD's picture

LOL. I LOL'ed twice for this one! Vatican money launders? It can not be! It's like the mob...

No matter what they say, they're still doing it.

Mon, 09/30/2013 - 19:34 | 4007540 lolmao500
lolmao500's picture

PM Netanyahu just departed the WH after talks and working lunch with Pres Obama. Was at the WH for about 4 hrs. Unusually long visit.


Jets Scrambled Twice Saturday; IDF Mum

IAF F-16 and F-15 jets were scrambled for unknown reasons, into Israel's northern and southern skies.

Something might be cooking...

Mon, 09/30/2013 - 19:51 | 4007608 oddjob
oddjob's picture

They probably got word of some palestinian school children throwing rocks.

Mon, 09/30/2013 - 19:34 | 4007541 cougar_w
cougar_w's picture

So how is this decision not a "bail-in"? Running away with deposits, I think it means the world of banking has already imploded and they just haven't told us about it.

Mon, 09/30/2013 - 19:33 | 4007542 h0oS
h0oS's picture

This is simply to the pope insisting that his ring be kissed. Move along now, nothing to see here...

Mon, 09/30/2013 - 19:36 | 4007544 Tinky
Tinky's picture

Silly buggers (pun intended).

Mon, 09/30/2013 - 19:37 | 4007550 Dre4dwolf
Dre4dwolf's picture

The Federal Reserve luanders millions every month from drug cartels in south america..................... when are they going to get shutdown? 

Mon, 09/30/2013 - 19:48 | 4007594 knukles
knukles's picture

The moolah actually flows first through the commercial banking sector... Oh yes, the very same TBTF's....  Any money laundered anywhere in the world has to, by definition, flow though it's host banker's and thus ultimately oversight of the central bank's preview.

And do note that about every year, some major bank pleads nolo contendre to money laundering.  No big show trials, etc.
Where ya think all the cash/bank deposit campaign contributions and grease the palm money flow to and from?


Mon, 09/30/2013 - 19:38 | 4007555 dick cheneys ghost
dick cheneys ghost's picture

speaking of francis~~~~~~~~~~~WTF?

Mon, 09/30/2013 - 19:54 | 4007603 Paracelsus
Paracelsus's picture

During the Banco Ambrosiano (Vatican bank) scandal some years back,the Bank had signed letters of comfort to enable some transactions with Latin American banks.The transactions in question were collateralized with fake bonds,and it all blew up.Then the Latin American banks tried to get the Vatican to pay up as they had gone guarantor on loans.

"Ah,no,sadly,we cannot be held accountable,as it was only a friendly letter,not a binding legal document". Naturally the Latin American bankers weren't impressed by all this.(We are talking about more than fifty bucks here). So the Vatican bank imploded (Ambrosiano),and the fellow at the center flew to London with the hitmen not far behind.He was found swinging under Blackfriars bridge with a brick in each pocket.

Mon, 09/30/2013 - 19:56 | 4007631 cougar_w
cougar_w's picture

But no doubt, for all that, he was forgiven. And so to Heaven.

Mon, 09/30/2013 - 20:29 | 4007748 Chupacabra-322
Chupacabra-322's picture

Hitmen or Jesuit's they do run the Intelligence.

Mon, 09/30/2013 - 21:22 | 4007907 logicalman
logicalman's picture

Roberto Calvi had a visit from the Vatican's enforcer 'Cardinal' about 6 hours before he died.

It certainly wasn't suicide.

It certainly was a message to others.

Mon, 09/30/2013 - 22:06 | 4008059 Constitutional ...
Constitutional Republic's picture

The love of money is the root of all evil, and the current Jesuit General Pope will exact penance.

Steal from a poor man, and he may starve. Steal from a rich man, and he will make it his life's work to punish you.

Mon, 09/30/2013 - 19:57 | 4007637 Oldballplayer
Oldballplayer's picture

<-------Ballsy Pope

<-------suicidal Pope

Mon, 09/30/2013 - 20:04 | 4007665 trichotil
trichotil's picture

if the ch33s3pop3 hat fits...
the guy looks more kosher than greenspan.

Mon, 09/30/2013 - 20:05 | 4007666 tony bonn
tony bonn's picture

"an unwitting vehicle for money laundering and other illicit finances."

unwitting my fat ass!! the vatican is a major partner with the pentagon in the gargantuan drug trade which flows through usa nato of the major goals of the afghanistan invasion was for the bush crime syndicate to get control of the poppy fields and drug sources...that was easily achieved and now the drugs flow like a torrential monsoon through usa bases, the vatican being the first stop laundry.....

every major usa bank is staying afloat thanks to drug money.....without it they would collapse....and i wish they would collapse!!

Mon, 09/30/2013 - 23:39 | 4008336 22winmag
22winmag's picture

Queue Sgt. Schultz in 3...2...1.

Mon, 09/30/2013 - 23:46 | 4008357 Amagnonx
Amagnonx's picture

I had just cut that same quote to make basically the same post you have made.


Its laughable that you actually have down votes here, people really need to go and do some homework.  I think this move is being made because of real fear now of whistleblowers - perhaps there are some inside the vatican now who are applying pressure?  The other possibility is that the information really is going to come out publicly, and this is a last ditch attempt to try and save the vaticans political power.


That this is being done is very telling, they have operated assassins, drug cartels and financial monopolies for centuries - events must be moving against them I think.

Mon, 09/30/2013 - 20:11 | 4007689 paint it red ca...
paint it red call it hell's picture

"The bank is also coming clean on possible illicit financial activities"

I would like the Jesuit Pope to define "coming clean" in order to put this statement in proper context.

Mon, 09/30/2013 - 20:12 | 4007691 esum
esum's picture

Papa better beware... he may be the next saint... last pope to fuck with the vatican bank left us early...23 skidoo... i thought with attendance and collections down, laundering would be good business... next step liquidating vatican art... pope break dancing and rapping ... nuns gone wild vids... what... what.... waht.... ok...yeahya...hey by the way how much vatican bank collteral is counterfeit bonds... just askin, after all they dont have the luxury of a FED.. and how many stamps and crucifixes can you sell to tourists...

Mon, 09/30/2013 - 20:22 | 4007718 RaceToTheBottom
RaceToTheBottom's picture

Organized religion=Organized crime.

But I do have to admit, this guy is better than the average placeholder.


Mon, 09/30/2013 - 20:28 | 4007740 tony wilson
tony wilson's picture

this is crazy these drug money deposits are needed in the church godamit.

this is crazy these arms deal kick monies are needed within the church godamit.

this is crazy this cia and mi6 saudi,libyan and qatari protection racket monies are needed in the church godamit.

this is crazy pray tell...

what is the pope gonna use for hush money from all the chilld rape cases going back over the last 60 years.

Mon, 09/30/2013 - 20:33 | 4007758 pupdog1
pupdog1's picture



Mon, 09/30/2013 - 20:53 | 4007811 Joebloinvestor
Joebloinvestor's picture

Get ready for the BIG BAIL IN.

I expect a one time fee or fine to free up accounts.

Mon, 09/30/2013 - 21:06 | 4007863 walküre
walküre's picture

He's gradually destroying the organisation from within. Unless he has proof science that his actions are going to attract more followers who will make up the shortfall of the monies he's trying to deter from entering the bank's system, he will have a massive shortfall on his hands. The Catholic church system is the essence of money laundering and political as well as economical quid pro quo. If Francis undermines the influence the church has throughout the world's political scene, he might as well shut the factory down. Collections from sheep are peanuts compared to the big contributions flowing through the church system. Maybe he's just naive and really thinks his church serves any other purpose than being a big financial and political player. He won't make it long.

Mon, 09/30/2013 - 21:09 | 4007865 logicalman
logicalman's picture

The Catholic Church has been stealing/extorting money from the poor for nearly 2000 years, they are unlikely to stop any time soon.

This is window dressing.

He's also making a couple of shady pontifs into saints, which kinda damages his credibility, or would do if he had any.

All organized religions are man made bullshit.

Believe carefully.

Mon, 09/30/2013 - 21:22 | 4007898 rustymason
rustymason's picture

Like Joe McCarthy before him, the Pope has no idea what a hornet's nest he is disturbing.

Mon, 09/30/2013 - 23:35 | 4008326 22winmag
22winmag's picture

Truer words were never spoken!

Mon, 09/30/2013 - 21:40 | 4007977 are we there yet
are we there yet's picture

Why does Iran, an islamic state have a mega bank in the Vatican? Does the Vatican have a bank in Iran?

Mon, 09/30/2013 - 22:00 | 4008028 Constitutional ...
Constitutional Republic's picture

The Vatican is arguably the world's biggest single land owner, including the Middle East, and Israel in particular, as the hofjuden well know.

This Pope is the 'black pope' of fable; a Jesuit General, the money and military arm of the Vatican.

Mon, 09/30/2013 - 21:52 | 4007996 Constitutional ...
Constitutional Republic's picture

Remember: this is a Jesuit General, the military and monetary arm of the Vatican, brought in after the former Pope was dethroned.

Money. This is all about the money power. This Pope will exact penance from those he deems to have sinned.

Tue, 10/01/2013 - 07:15 | 4008987 samcontrol
samcontrol's picture

lol ,and there are no divisions between the Jesuits.
Francisco does not give a shit about money , maybe you live in Argentina and have been following him like me for thirty years and you can prove me otherwise.

Mon, 09/30/2013 - 22:11 | 4008072 proLiberty
proLiberty's picture

" Iran, Iraq and Indonesia, ..." all countries where the majority religion seeks to destroy the Vatican and its followers. Money makes for strange bedfellows, so to speak.

Tue, 10/01/2013 - 01:13 | 4008730 putaipan
putaipan's picture

what? cheesepopes is jeuits?

Tue, 10/01/2013 - 06:53 | 4008970 celticgold
celticgold's picture

dont you worry children , this pope is the LAST one you will see ...eva!!

Tue, 10/01/2013 - 07:18 | 4008990 samcontrol
samcontrol's picture

Bold and stupid prediction.

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