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UPDATE: Catholic Funds BACK In Rome—Global Financial Meltdown Coming Soon?


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The Vatican has a corruption problem…

Citing financial malfeasance among its own advisors, the Vatican has sought to bring its transnational funds back to Rome, under the watchful eye of the Church.

More specifically, a $350,000,000 real estate investment deal gone wrong and years of fiscal ‘mismanagement’ has prompted the Vatican to return its wealth back home…Or at least that’s what they say…

Unfortunately, this explanation doesn’t hold up—moving the money closer to the wolves that caused the issue in the first place won’t remedy the issue.

The Catholic Church has massive wealth—trillions of dollars by conservative counts and that’s just what they officially report or choose to exchange on global markets.

In reality, their actual wealth makes their reported wealth look like a paltry sum.

The Vatican has been engaging in financial activities with international players such as Credit Suisse and this firm, in particular, is now in financial straits.

Analysts have pointed out that Credit Suisse is in worse shape than it was in 2009, could this be pointing to a complete market meltdown, and is the Vatican an exacerbating factor here?

More importantly, did the Vatican remove its money because they know that global markets are about to disintegrate?

Here’s what we currently know:

The Gateway Pundit explains:

We don’t really know the reasoning behind the move of money to the Vatican. Moving all funds to the Vatican bank may not prevent another incident like the one that occurred in the UK.

The Secretariat of State and Credit Suisse were connected to the incident in the UK.

Credit Suisse is now reportedly under financial duress, as was reported last night.

 

The Catholic News Agency previously reported:

According to Francis’ rescript, financial and liquid assets held in banks other than the IOR must be moved to the Vatican bank within 30 days of Sept. 1, 2022.

The IOR, based in Vatican City State, has 110 employees and 14,519 clients. As of 2021, it looked after 5.2 billion euros ($5.6 billion) of client assets.

We had previously warned you of this story in advance…

Here’s what we posted a few weeks ago:

RED ALERT: Pope Francis Orders All Church Funds To Be Sent To Vatican By September 30th!

HEADS UP FOLKS!

Something major is coming.

Do NOT underestimate the global power of the Vatican.

Is a major financial collapse coming?

It would be reasonable to be concerned after seeing the unprecedented step Pope Francis just took.

Take a look:

Worldwide economic crash incoming?

Something worse?

What’s funny is I just had Bo Polny on my show last week and he told me the EXACT same thing.

He didn’t know about the Pope, but he said his research is showing something historic (and not good) comes in September.

Worldwide financial collapse.

You can see that here:

Bo Polny: The Fireworks Start In September! Bitcoins Massive Move…

Should you be concerned?

Probably so!

And in case you think the story isn’t real, it’s confirmed.

ABC News has reported on it here:

Pope Francis on Tuesday imposed an Oct. 1 deadline for all Holy See offices and Vatican-linked institutions to deposit their assets with the Vatican bank.

Francis’ decree follows his decision earlier this year to entrust management of all Vatican assets to one office — the patrimony office known as APSA — in a bid to end decades of mismanagement that culminated with a scandal over a 350 million-euro investment in a London property. Ten people, including former Vatican officials and external brokers, are on trial in the Vatican tribunal on finance-related charges related to the deal.

The Vatican’s economy ministry in July issued a new investment policy requiring all Vatican departments to transfer their assets and investments to APSA via its accounts at the Vatican bank, known as the Institute for Religious Works, or IOR. No specific deadline was given, but the decree published Tuesday says all assets must be transferred by Sept. 30.

The need for a new decree imposing a fixed deadline and stressing there were no exceptions to the regulation suggests some offices or institutions were hoping to keep external accounts or investments.

The Vatican bank has long been mired in scandal but has spent the past decade cleaning up its books and ridding itself of its reputation as an offshore tax haven. Years of reform have slimmed down its client list to Vatican offices, employees, religious congregations and embassies.

And also from the Catholic News Agency:

Pope Francis has ordered that the Holy See and connected entities move all financial assets to the Institute for Works of Religion (IOR), commonly known as the Vatican bank.

The pope’s rescript, issued Aug. 23, clarifies the interpretation of a paragraph in the new constitution of the Roman Curia, Praedicate Evangelium, promulgated in March.

According to Francis’ rescript, financial and liquid assets held in banks other than the IOR must be moved to the Vatican bank within 30 days of Sept. 1, 2022.

The IOR, based in Vatican City State, has 110 employees and 14,519 clients. As of 2021, it looked after 5.2 billion euros ($5.6 billion) of client assets.

Though commonly called a “bank,” the IOR is technically a financial institute, with no branches, working within Vatican City State to provide services to clients, which include the Holy See and connected entities, religious orders, clergy, Catholic institutions, and Holy See employees.

The IOR saw its number of clients decline by 472, from 14,991 clients at the end of 2020 to 14,519 in 2021. Nearly half of its clients in 2019 were religious orders.

According to its annual report, the financial institution’s $19 million net profit in 2021 was also down from $44 million in 2020 and $46 million in 2019.

You can see the actual edict posted on Vatican.va here:

And from our friend Sarah Westall:

Why has Pope Francis ordered all Vatican affiliated entities to transfer ALL FUNDS and assets to the Vatican Bank?
Francis’ rescript specifies that all financial and liquid assets held in banks other than the IOR must be moved to the Vatican bank within 30 days of Sept. 1, 2022.

The IOR stands for, Institute for Works of Religion. According to the National Catholic Register the IOR is not a bank, but rather a financial institution:

Though commonly called a “bank,” the IOR is technically a financial institute, with no branches, working within Vatican City State to provide services to clients, which include the Holy See and connected entities, religious orders, clergy, Catholic institutions, and Holy See employees.

The IOR saw its number of clients decline by 472, from 14,991 clients at the end of 2020 to 14,519 in 2021. Nearly half of its clients in 2019 were religious orders.

According to its annual report, the financial institution’s $19 million net profit in 2021 was also down from $44 million in 2020 and $46 million in 2019.

There are multiple reason the Vatican could be ordering all funds to be transferred to the IOR. One reason could be the imminent collapse of the international monetary system that has been predicted by economists for many years now. Jim Rickards, one of the most respected economists in the world, had this to say recently:

Look, I’ve been studying monetary economics for about 50 years. All of my research has led me to one conclusion — we’re going to see the collapse of the international monetary system.

When I say that, I specifically mean a collapse in confidence in paper currencies around the world. It’s not just the death of the dollar or the demise of the euro. It’s a collapse of confidence in all paper currencies.

Over the past century, monetary systems have changed about every 30–40 years on average. Before 1914, the global monetary system was based on the classical gold standard.

Today, the existing monetary system is over 50 years old, so the world is long overdue for a new monetary system.

Others believe the Vatican is being forced to hide their financial records as their involvement in extreme corruption has been getting out to the public. As reported by many independent journalists over the years (although ignored by the mass media), the Vatican has been involved in some of the most horrendous crimes against children possible.

Great analysis over at ThePillar, here’s a portion:

The move is interesting on a number of levels.

In the first place, it is a remarkable use of the canonical power of a rescript issued by the pope — to instruct that a text be interpreted in a way that seems hard to reconcile with its plain meaning. The move is so remarkable, in fact, that some canonists have asked if it might be a mistake — a case of the canonical sections of the instruction being published prematurely, or absent necessary legal vetting.

But, assuming Pope Francis means what he has written, there is a more substantial assessment to be offered of the move: that the pope is casting a dramatic vote of confidence in the IOR.

While the bank has been at the center of some of the more lurid financial scandals in recent Vatican history, since 2014, it has been the subject of several financial reforming efforts, with hundreds of accounts closed and charges filed against former officials at the bank.

In January, the former president of the IOR became the first person to be handed a jail sentence by a Vatican City court for financial crimes.

And it was the leadership of the IOR which first flagged as suspicious the Secretariat of State’s London property deal, after Cardinal Parolin pressured the bank to approve a 150 million loan to finance the deal, and the sostituto Archbishop Edgar Peña Parra ordered a retaliatory investigation into the bank’s director for denying the request.

The bank is now widely held to be the most transparent and credible financial institution the Vatican has — in large part because it is subject to international standards and inspections by financial watchdogs.

Crucially, the IOR, as a commercial bank, is the only Vatican financial institution subject to the oversight of the ASIF, the Holy See’s internal financial watchdog, and to Moneyval, the Council of Europe’s anti-money laundering inspectorate.

Although Francis did not provide a rationale for his change on Tuesday, concentrating competence for managing all Holy See investments in the IOR could be aimed at enhancing oversight and regulatory compliance.

The most recent Moneyval assessments have repeatedly singled the IOR out for praise in its reforming efforts, even while warning about its wider concerns about the Vatican, including at ASIF.

During recent hearings in the ongoing Vatican financial trial, former ASIF officials told the judges that they lacked oversight authority of the internal financial affairs at the Secretariat of State and were essentially powerless to intervene in the London deal as it unfolded until the secretariat tried to involve the IOR.

Meanwhile, APSA itself has faced repeated questions about its adherence to both Vatican and international financial norms, and shifting asset management responsibility to the IOR could be, at least in part, a response to those concerns.

While APSA previously provided commercial banking services and accounts to select individuals, like cardinals and members of the papal household, the use of those accounts was linked to allegations of money laundering and other financial crimes, and ending those services was a key priority of financial reforms under Cardinal George Pell, who was appointed by Pope Francis as the first prefect of the Secretariat for the Economy in 2014.

In 2015, the ASIF, concluded that APSA was no longer an “entity that carries out financial activities on a professional basis,” and so was exempted from future ASIF and Moneyval inspections.

Nevertheless, in 2019, the head of APSA, Bishop Nunzio Gallatino acknowledged that APSA had provided a 50 million euro commercial loan to the Secretariat of State in 2014, a violation of its undertakings to ASIF and Moneyval which led to the 2015 exemption. The money went to fund a for-profit enterprise to acquire a Catholic hospital, which had collapsed under 800 million euros of debt related to money laundering, embezzlement, and fraud charges.

Cardinal Parolin later acknowledged that he had acted to secure the loan from APSA, despite a 2012 prohibition on such loans, and when the loan was not repaid, APSA had to write off 30 million euros in bad debt, wiping out its profits for 2018.

In June of this year, APSA partially financed a 100 million euro deal to rescue another scandal hit Catholic hospital in Rome, this time linked businessman Gianluigi Torzi, who is also on trial in the Vatican for extortion, committed a multi-million euro fraud against the hospital.

With the exception of APSA’s real estate management role and the work of Cardinal Kevin Farrell’s commission of reserved financial matters (state secret expenditures, essentially), Pope Francis has apparently now transferred all Holy See asset and investment management activity to the IOR — the only Vatican institution under the oversight of ASIF and Moneyval.

It’s not just the Pope paying attention to the end of September timeline…

Bo Polny has been telling us the same thing for over a year!

Here’s more on the potential upcoming worldwide crash from the one and only Bo Polny…👇

For those who have seen our prior shows, you know that for over a year know, Bo has been talking about September 24, 2022 as a very important date.

He’s calculated that date in many different ways, and yesterday he had a brand new insight that once again confirmed the importance of the date.

We discuss that and so much more….including Trump’s (soon) return and a coming stock market wipeout (not crash, wipeout).

This is the big one.

“Biblical” is a word he through out.

I would say this was one of the best and most important times we’ve ever had with Bo on the show.

In fact, I called and asked a special favor to have him back on earlier than normal because I knew we were coming up on one of the most important dates Bo has been talking about for a LONG time.

Definitely over a year, probably more like 18 months.

You can go back and watch all our old interviews, that’s what’s so cool…it’s all in there!

Bo has been saying that the end of the 50 Year Jubilee on September 24/25 is going to be historic.

“Biblical” was Bo’s word, and a very carefully chosen word.

We had planned to only talk for 30 minutes, but then we got going and the rest was history!

Bo always has so much interesting information I find it almost impossible to cut off the interview at 30 minutes.

And I hope you enjoy the bonus, because we were rolling!

We covered the Queen’s death (murder?) and it’s prophetic significance….a lot of numbers wrapped up in that one!

We talked about Charles and what his impact will be.

We talked about how America is now free from the Harlet, and the Beast she was riding is now riderless.

So many good nugget in there…

But that was just the beginning!

Then we talked Stock Market Crash.

Actually, that’s not right.

Bo corrected me.

He said it’s not going to be a “Crash”, it’s going to be a “Collapse”.

Which, as you can guess, is much worse.

And it’s just around the corner according to Bo’s time cycles.

Then the biggest thing everyone always wants to know: what about Bitcoin and Cryptocurrencies?

Oh baby did we cover that!

Spoiler alert: major move coming soon.

We’ve had 3-4 months of boring, sideways action (which Bo told us would happen in his Newsletter), but now?

Now the dull days of summer are nearly over and explosion is coming.

We talk in the interview about whether that explosion is UP or DOWN.

The interview was just plain awesome, not because of me but because Bo is such a wonderful human being and he came loaded with info!

I’m really just scratching the surface here….

We moved fast and we covered a LOT of ground.

So please watch for yourself and enjoy right here on Rumble:

And as promised, I have all the links you’re looking for right here below the video:

👉 Download Bo’s slides for free: https://qrco.de/bdKTQ5

👉 If you want Bo’s trading Newsletter, go to https://www.gold2020forecast.com/cryptocurrency-index ➡️ use code WLT49. (LIMITED TIME)

💥 For access to the Easy Crypto School, go to https://www.easycryptoschool.com ➡️ use code WLT49. (LIMITED TIME)

Those discount codes are very generous from Bo, but only good for a short time and then they shut off.

So take advantage of those if you’re interested.

Ever since he first opened up the Easy Crypto School last month, I’ve received SO MANY emails and feedback on that saying how much people love it and I absolutely love to hear that.

That’s why I do what I do and have guests on like Bo.

This stuff is complicated.

NATIONAL POLL: Do You Still Have Trump's Back 100%?

It’s new.

It’s complex.

And it’s full of pitfalls.

So if you want the “cheat sheet” and crash course on how to do it right and how to learn quickly, you want the Easy Crypto School.

Now, if Rumble doesn’t work for you for some reason, I also have a YouTube backup.

Watch here:

👉 Download Bo’s slides for free: https://qrco.de/bdKTQ5

👉 If you want Bo’s trading Newsletter, go to https://www.gold2020forecast.com/cryptocurrency-index ➡️ use code WLT49. (LIMITED TIME)

💥 For access to the Easy Crypto School, go to https://www.easycryptoschool.com ➡️ use code WLT49. (LIMITED TIME)



 

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