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Vatican Bank Profits Plunge Following Clean-Up
It seems not even The Pope's private bank can make money when its only allowed to do it the legal way. As The FT reports, profits at the Vatican bank plunged last year after thousands of accounts were closed as part of an overhaul of the scandal-ridden institution. The Vatican bank, officially known as the Institute for Religious Works (IOR), now has 17,419 customers, down from 18,900 in 2012 and net profit fell from EUR86.6m in 2012 to EUR2.9m last year. So - in sum - accounts fell 8% and profits collapsed 97% - is it any wonder Pope Francis plans to replace the board and all the executives at the 'bank'.
Having shut all Embassy accounts to halt money laundering, The FT reports,
Since April 2013 almost 3,000 accounts have been closed and more than 2,000 have been blocked as a result of a screening process of all the accounts held in the troubled bank.
George Pell, the Australian cardinal heading the secretariat for the economy at the Vatican, said in a statement: “This is a time of major change in the Holy See . . . we are creating simpler, more efficient structures for those serving the mission of the Catholic Church.”
The Vatican bank, officially known as the Institute for Religious Works (IOR), now has 17,419 customers, down from 18,900 in 2012.
In only the second annual report to be published, the bank announced net profit fell from €86.6m in 2012 to €2.9m last year.
Under the restructuring plan the bank, where decades of corruption and mismanagement did much to tarnish the image of the Vatican, the IOR is expected to be stripped of its powers to manage assets and return to its original purpose of sending funds to missionaries and Church groups around the world.
In a statement on Tuesday issued alongside the annual report, the bank blamed the falling profits on a rise in expenses, losses related to proprietary investments in external funds and the fluctuation in the value of gold reserves.
Cleaned-up, fully confessed and flagelated...
“We have focused on making the IOR compliant with financial regulation, safer and more transparent, so as to create options for the Holy Father to decide on the future of the Institute.
"we have laid the groundwork for a new team to make the IOR a truly outstanding service provider in Catholic finance,"
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Perhaps it's time for The Holy See to look into HFT? That's not illegal (yet)
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Doh!
OT: Whoa! Check this out over on the left side of Drudge:
Claim: Residents Asked To Shelter Illegals-- In Their Homes.... Developing....
It's not a link/can't click it as of now. Anybody heard about this?
Well sure Dictaster Barry, I WANT scabies and lice. And no, since they are not technically soldiers it is not a violation of the 3rd Amendment.
This is the price for ex-communicating the Mafia and being pedophiles!
yap and many other crimes, see roberto Calvi, Pope John Paul I, read or watch Vatican Inc. by Gian Luigi Nuzzi. Vatican owns roughly 20% of urban Italien real estate. These scums, responsible for millions of dead people in history, will never go bankrupt.
dont forget armenians and all those killed in ww2 as well as the spanish inquistion and counter reformation (which is currently spilling across the southern border)
So why do fuck heads still call themselves Catholics. All people have to do is not show up to church anymore and the child abuse and corruption will be eradicated veerrrryyyyyy quickly. People do keep showing up because they are brain washed automatons.
This is way off topic, but I just found out that Tulving went bankrupt a few months ago. How did I miss this?
http://about.ag/TulvingPostMortem.htm
Boating accident. many creditors damaged.
off topic, BB? Aren't you one of those poor idiot suckers who thinks the Jesuits secretly run the Fed, the US government, Israel, and they just use the Jewish people we see running the Goldmans and the Fed and Treasury as a front - all without any evidence at all of course...
figured you'd be all over this.
spoken like an ill-informed twit.... aint no conspiracy that this papacy is run by the jesuits.... you fuckwads are a dime a dozen
Did I say that the Pope isn't a Jesuit - you blithering idiot twat?
Careful, I think there's a Lizard Illuminati Annunaki behind you.
Gods, you're dumb.
Catholic church taking in illegals but other Protestant denominations also getting into the act. Sickening.
JEBUS CHRIST ON A CRACKER
*SMACK*
Cheezus, SLICED!
Yes we can...
http://photos1.blogger.com/blogger/5560/1738/1600/jesus%20on%20cracker.jpg
Religion is as religion does.,..
Good Lord. With all their membership, with all that tithing, the best they can come up with is €2.9 Million? The cathedrals are tax exempt. Where in hell (!) does all that money go? What do those cardinals smoke in the Sistine Chapel? Maybe it can be packaged and sold. What about all that Nazi gold, and all the stuff they looted and pillaged from Central America, South America, Africa, Australia, Canada and elsewhere? They would't rehypothecate that, would they? I mean, these are Men of the Cloth, for Heaven's sake. Maybe it's time to do the honest thing and return everything to the rightful owners across the world.
The Vatican has a long, sordid history, written in perversion, atrocity, psychopathy and blood. I hope it goes as bankrupt as the morality of its paedophiles.
'All their membership'.....last I heard the Vatican was so panicked about their rapidly declining membership they were going back to training priest to do exorcisms.
You heard wrong. And more sheeple will flock to religious institutions as the global situation deteriorates.
Catholic Church Membership Statistics (wiki)
413,418 priests @ €50K = approx €21 Billion. A very large pot must be stored somewhere. If not Vatican Bank, then where?
Vatican Bank: Historical Allegations (wiki)
Sorry, I don't believe stats from child molester.
Fair point, but I can tell you from observation that the church seems to be thriving in Asia. Poor saps.
Returned to the Masses who were taken advantage of.
As for the Priests who molest and condone who do, there are plenty of Prison Facilities around the World who would incarcerate Paedophiles.
legal fees, lawyers, and out of court hush-hush settlement money for all the children these sick fuckers have molested and raped. My wife is catholic, and i have sworn my kids will never, under any circumstances, be alone with a member of the catholic clergy. That church is one of the most evil institutions ever on the face of the earth, all the harm they have caused people since their existence, and fucking sheep like her family still give them money, it makes me sick. No way they will actually go bankrupt, although that would make my day. Several of their diocese have gone bankrupt, i think the last one was out in california. Guess why? No one I know would donate money to the legal defense of a child predator, but thats exactly what you are doing when you give any catholic institution money. As an atheist, I think they are all pretty much equally silly and stupid, but the catholic church is outright evil
Lore: wherever it's all gone, I'm sure it's God's will.
Too bad he's not AIG. No problem serving God and mammon there.
"Broadcast live!" no less.
It's a shame Jesus won't push up those EBITDA figures.
no wonder they're trying to cash one of these things .....
http://benjaminfulford.net/wp-content/uploads/2014/06/vatican-6.JPG
wait. wouldn't 14 quadrillion dollars cover the worlds' derivitive exposure?
What am I missing? That almost seems impressive. They did something to cleanup corruption and they were willing to lose 97% of their profits in the process. I am clearly missing something.
They have the front seat on the "sign from god"
And as the vatican... I believe they are and have the best financial guys and info in the world.
They are money.
You know the old saying: http://www.abovetopsecret.com/forum/thread564758/pg1
I totally agree, I think that PF knows that when you flush the sewer, alot of shit comes out! This is a bank after all that has been around for over a 1000 years! What there doing here is, wealth preservation! Ill bet you, the next move they are making is, once you get the BS flushed, the corruption and fraud removed, they start buying gold like crazy:)
Yea like I hear angles singing in the background.
They were just waiting till the end of the music
That's why bars in music seem to stop angles song.
The catholic church is evil. Has been since the beginning. I'm sure these changes will be designed to make it more evil in the long run.
So the Vatican leased their gold hoard to short paper gold. To think I am hurting my precious stack at mass every Sunday by giving my hard earned Fiascos to the poor widows and orphans.
Well then, get thee hence and alleviate some suffering: http://www.worldvision.org
There's a lot of chatter about the 16th juli in the derivatives market.
I'm pretty curious what might happen because all of a sudden the markets start to react on bad news on low volume during the summer....
That's weird if you look to the last few years..
But I do remember a august somewhere in the year 2008 that had the same kind of chatter...
V the Gorilla economist has been talking about this lately.
And the german government and english government is inquiring to the banks about the exposure in derivatives with that specific date.
Are they pulling the plug on this shit show? The alternate financial media has always said it will end when the dollar collapses. Maybe it's as simple as it ends when the banksters decide it ends. Why not crash this sucker and blow another bubble as there currently are no heirs to king dollars throne at this time.
Maybe there is something to that OrangeyMcCunt video afterall.
My bad, I scheduled a car detailing on that date for my wife's b'day present!
So that would imply that maybe the other banks have the potential for somewhat lower earnings sans douchebaggery.
Looks like the Super Adventure Club took their little boy raping club money somewhere else, the heat on the Vatican sponsors was just too much.
Little known fact, Pope Francis was once a Bouncer at an Argentinian Bar.
http://thechive.com/2014/07/08/interesting-facts-from-around-the-web-34-photos/interesting-facts-8-2/
You would think they would make billions just counting the change they make every Mass for the offering.......or at least a few million when some church takes out a loan on a new Chalace...ya would think????
In other Vatican news, they're so panicked about rapidly declining churchgoers that the Vatican is now going back old school and training up exorcist priests, that's a no shitter.
The more likely scenario is that Francis is just a bad manager.
Just sayin......
He might prove to be the Ron Paul of the Catholic Church that the American people didn't have the balls or brains to elect.
If goldy-boy Peter Sutherland is still around they are certainly still doing g-ds work.
papa
any mention of all the gold 1000 tons or more.
daddy
any mention of the nda legal agreements for boys.
ealing abbey in london paying out 100s of thousands to raped boys in compensation.
out of court just lawyer to lawyer cash once the nda is signed.
x that by a million rape victims then problems.
china just found a new handy source for that barbarous relic gold.
take a walk into those catacombs mr. pope
billions in ripped off shit over the centuries, right?
ever thought of selling some of it? or is that against your religion?
I have ften wondered about what they have collected over the years. They should at least organise those items for display and make an income by charging an entry fee. Should prove to be a fascinating museum.
http://www.bibliotecapleyades.net/esp_merovingios.htm
https://inpursuitofhappiness.wordpress.com/2013/10/31/i-saw-joseph-ratzi...
http://thisiszionism.blogspot.ro/2010/05/jewish-jesuits.html
In General Ludendorfs book "Das Geheimnis Der Jesuitenmacht Und Ihr Ende" he agreed that the Jesuits are controlled by Jews.
http://www.scribd.com/doc/28309458/L...9-Scan-Fraktur
https://luis40pr.wordpress.com/2013/10/12/jews-control-the-jesuits/
http://jonahfrank-bp4.blogspot.ro/2009/04/famous-people-who-attended-jes...
Many people love to point the finger at the Jesuits as the cause of the world's troubles. The Jesuit order is a Roman Catholic order of priests and scholars. Their leadership live in the Vatican.
The great secret however is that the society of Jesus was organized by crypto-Jews.
The Jesuit society was created in 1534 by a group of Marrano Jews: Ignatius Loyola, Alfonso Salmeron and Diego Lainez.
In 1492 the entire Jewish community of Spain, some 200 000 of them, were expelled. Amidst these expulsions the tactic of crypto-Judaism is taken up by many in the Jewish community in order to hide and evade exile and persecution. But the conversion is always a dishonest one and they continue their Jewish practices in secret.
The founder of the Jesuit order Ignatius Loyola himself was a crypto-Jew of the occult cabala. In 1491 Loyola began his subversive activities in the Jewish Illuminati order of Spain under the guise of Roman Catholicism.
http://nwo-satanismus.blogspot.com/2010/02/jesuits-created-by-crypto-jew...
Over 30 years ago I saw a message neatly painted sign using on a template which said, "Christ Saves."
Someone had scrawled underneath, " And the Pope Invests."
Perhaps this Pope will divert the sewer that has been running through the Catholic Church back to hell. It has been too long since the Catholic Church has practised what it preaches. Some in fact might say it has never practised what it preaches but let's see.
.
I haven't seen anyone hanging off of London bridges lately.