A
Albino_Luciani
Guest
1917 - Our Lady of the Rosary announces at Fatima that she will return to formally request the consecration of Russia and a “worse one” (war) “will break out during the Pontificate of Pius XI”.
1929 - June 7th, the Lateran Treaty is ratified.
(Six Days Later…)
1929 - June 13th, Our Lady of the Rosary returns to formally request the consecration of Russia by the Holy Father in union with all the Bishops.
Background:
The Vatican finances were on the verge of bankruptcy prior to being bolstered by $92.1 million (750 million lire cash and another 1 billion lire in Italian government bonds) the Vatican received as a consequence of the Lateran treaties in 1929. In 1929, Pope Pius XI, a family friend, appointed Bernadino Nogara director of the Special Administration of the Holy See, charged with the financial dealings of the Vatican. Nogara accepted Pius XI’s appointment on one condition: that he would not “be restricted by religious or doctrinal considerations”.
Nogara became a board member of many Italian firms due to the Vatican’s controlling interests, including Assicurazioni Generali, Italy’s largest insurer (and one of the largest in the world), and Societa Generale Immobiliare, the largest construction company in Italy (which went on to become one of the largest in the world). The Mafia’s interest in these activities is fictionalized in the 1990 movie The Godfather Part III.
Nogara, through shrewd investing in stocks, gold, and futures markets, vastly increased the Roman Catholic Church’s financial holdings. By 1935, Nogara had vastly expanded the Vatican treasury in a sum estimated in the hundreds of millions of dollars (the Holy See kept the exact amount confidential).
In 1984, Marcinkus was named as a possible accomplice in the supposed murder of Pope John Paul I by investigative journalist David Yallop in his book In God’s Name. Yallop made allegations regarding a number of suspects associated with Marcinkus’ business dealings, claiming involvement of members of the Mafia on behalf of the Vatican Bank, further stating that Marcinkus might face criminal exposure, should he be removed from his position at the bank.
Upon the election of Pope John Paul II, Marcinkus was promoted within the Vatican bank and remained in office for several years before the scandal widened, after the body of Calvi, whose Banco Ambrosiano had dealt with Marcinkus, was found hanging under London’s Blackfriars Bridge in June 1982. The death of Calvi was seen by some as symbolic, since Propaganda Due referred to themselves as the “Black Friars.” Adding to the troubles, journalist Mino Pecorelli, who had been investigating Marcinkus, the Vatican Bank and ties to organized crime, was found dead in 1979. Marcinkus himself was never charged with a crime.
Present day:
ROME, March 21, 2011 – Starting at the beginning of April, the Holy See will return to using a sanction that had practically fallen into disuse in the practice of canon law: prison.
This penalty is provided for by law no. 127 of the state of Vatican City, promulgated last December 30, which will go into effect next April 1. A law aimed against money laundering and the financing of terrorism.
But beyond this, the new norm will bring much more substantial novelties in the practices of the Vatican institutes that operate in the financial field, beginning with the one that most resembles a bank, the Institute for Works of Religion (IOR).
Until now, the IOR has enjoyed broad autonomy of action. It worked outside of the international norms that regulate, standardize, and supervise the activities of the banks in various countries.
For the depositors of the IOR, mainly dioceses and religious institutes, this autonomy was seen as an advantage. The procedures for depositing and managing money were simple and confidential, like in a family. Secrecy was guaranteed. Interest rates were higher than in other financial institutions.
This absence of external supervision enjoyed by the IOR was, however, also very attractive to less virtuous subjects, tempted to use the Vatican bank for illicit operations, using religion as a cover, disguising themselves as benefactors or exploiting the naivety of depositors.
en.wikipedia.org/wiki/Bernardino_Nogara
en.wikipedia.org/wiki/Paul_Marcinkus
chiesa.espresso.repubblica.it/articolo/1347168?eng=y
1929 - June 7th, the Lateran Treaty is ratified.
(Six Days Later…)
1929 - June 13th, Our Lady of the Rosary returns to formally request the consecration of Russia by the Holy Father in union with all the Bishops.
Background:
The Vatican finances were on the verge of bankruptcy prior to being bolstered by $92.1 million (750 million lire cash and another 1 billion lire in Italian government bonds) the Vatican received as a consequence of the Lateran treaties in 1929. In 1929, Pope Pius XI, a family friend, appointed Bernadino Nogara director of the Special Administration of the Holy See, charged with the financial dealings of the Vatican. Nogara accepted Pius XI’s appointment on one condition: that he would not “be restricted by religious or doctrinal considerations”.
Nogara became a board member of many Italian firms due to the Vatican’s controlling interests, including Assicurazioni Generali, Italy’s largest insurer (and one of the largest in the world), and Societa Generale Immobiliare, the largest construction company in Italy (which went on to become one of the largest in the world). The Mafia’s interest in these activities is fictionalized in the 1990 movie The Godfather Part III.
Nogara, through shrewd investing in stocks, gold, and futures markets, vastly increased the Roman Catholic Church’s financial holdings. By 1935, Nogara had vastly expanded the Vatican treasury in a sum estimated in the hundreds of millions of dollars (the Holy See kept the exact amount confidential).
In 1984, Marcinkus was named as a possible accomplice in the supposed murder of Pope John Paul I by investigative journalist David Yallop in his book In God’s Name. Yallop made allegations regarding a number of suspects associated with Marcinkus’ business dealings, claiming involvement of members of the Mafia on behalf of the Vatican Bank, further stating that Marcinkus might face criminal exposure, should he be removed from his position at the bank.
Upon the election of Pope John Paul II, Marcinkus was promoted within the Vatican bank and remained in office for several years before the scandal widened, after the body of Calvi, whose Banco Ambrosiano had dealt with Marcinkus, was found hanging under London’s Blackfriars Bridge in June 1982. The death of Calvi was seen by some as symbolic, since Propaganda Due referred to themselves as the “Black Friars.” Adding to the troubles, journalist Mino Pecorelli, who had been investigating Marcinkus, the Vatican Bank and ties to organized crime, was found dead in 1979. Marcinkus himself was never charged with a crime.
Present day:
ROME, March 21, 2011 – Starting at the beginning of April, the Holy See will return to using a sanction that had practically fallen into disuse in the practice of canon law: prison.
This penalty is provided for by law no. 127 of the state of Vatican City, promulgated last December 30, which will go into effect next April 1. A law aimed against money laundering and the financing of terrorism.
But beyond this, the new norm will bring much more substantial novelties in the practices of the Vatican institutes that operate in the financial field, beginning with the one that most resembles a bank, the Institute for Works of Religion (IOR).
Until now, the IOR has enjoyed broad autonomy of action. It worked outside of the international norms that regulate, standardize, and supervise the activities of the banks in various countries.
For the depositors of the IOR, mainly dioceses and religious institutes, this autonomy was seen as an advantage. The procedures for depositing and managing money were simple and confidential, like in a family. Secrecy was guaranteed. Interest rates were higher than in other financial institutions.
This absence of external supervision enjoyed by the IOR was, however, also very attractive to less virtuous subjects, tempted to use the Vatican bank for illicit operations, using religion as a cover, disguising themselves as benefactors or exploiting the naivety of depositors.
en.wikipedia.org/wiki/Bernardino_Nogara
en.wikipedia.org/wiki/Paul_Marcinkus
chiesa.espresso.repubblica.it/articolo/1347168?eng=y
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