Financial reform at Vatican reveals $1.2 billion in assets

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Australian Cardinal George Pell arrives for a meeting at the Synod Hall in the Vatican March 6, 2013 ahead of the conclave that elected Pope Francis. Photo by  REUTERS/Tony Gentile 
*Editors: This photo can only be used with RNS-PELL-ABUSE, transmitted May 22, 2015 or RNS-PELL-VATICAN on June 1, 2015 or RNS-VATICAN-TAXES on June 10, 2015 or RNS-VATICAN-ASSETS, originally transmitted on July 16, 2015, and with RNS-SYNOD-FAMILIES, originally transmitted on Oct. 12, 2015

Australian Cardinal George Pell arrives for a meeting at the Synod Hall in the Vatican March 6, 2013 ahead of the conclave that elected Pope Francis. Photo by REUTERS/Tony Gentile *Editors: This photo can only be used with RNS-PELL-ABUSE, transmitted May 22, 2015 or RNS-PELL-VATICAN on June 1, 2015 or RNS-VATICAN-TAXES on June 10, 2015 or RNS-VATICAN-ASSETS, originally transmitted on July 16, 2015, and with RNS-SYNOD-FAMILIES, originally transmitted on Oct. 12, 2015

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VATICAN CITY (RNS) The Vatican's assets improved, though it still ran a deficit in 2014.

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  • Betty Clermont

    One of the experts Pope Francis appointed to help him “reform” Vatican finance told an Italian reporter that just the Vatican Bank and APSA (Administration of the Patrimony of the Holy See) held 10 billion euro invested in property, stocks, gold and hard currency. http://espresso.repubblica.it/
    In 2010, the Congregation for the Evangelization of Peoples (formerlyPropaganda Fide) reportedly held real estate worth 9 billion euro.http://www.ft.com/cms/s/0/3187c7ec-82
    Not included were 136 additional entities nor the amounts the Vatican maintains in financial institutions in the Cayman and Turks and Caicos islands, both havens for off-shore tax shelters and other dubious activities. http://www.concordatwatch.eu/s
    The amount of the worldwide Peter’s Pence collection has not been posted since Bergoglio was elected, as much as 60-90 million euro in the past given to the pope for his personal use. I guess they don’t want this pontiff to appear miserly when he hands out…

  • ben in oakland

    Let’s not forget the art collection, the gold in the churches, the golden croziers.

    How many billions or trillions there?

  • Larry

    Its a helluva amount of money to be finding in their seat cushions, so to speak.

  • Fran

    Literal riches are more important than spiritual ones.

  • Greg1

    At least the Vatican is running a surplus. When Barack Obama took over this country, we were 8 Billion Dollars in the Red, we owe over 16 Billion, and counting. How careless our lawmakers have become! We will be the new Greece if things don’t change. I’m glad the Vatican has found some additional cash, now we can feed more of the poor. BTW, the Art Collection might be worth money, but it is blood money, and needs to stay where its donors meant for it to stay. That collection is meant to, and should continue to, give glory to the Master of the Universe until the end of time.

  • Greg1

    I meant 8 Trillion, and now 16 Trillion dollars in debt since Obama took office.

  • Ben in Oakland

    Actually, Greg, as usual, you have it wrong, and as always, prefer to ignore history.

    When your beloved Reagan took office, the national debt stood at 1 trillion dollars. When he left, it was at 2.8 trillion.

    When Obama took office, the debt was over 10 trillion dollars after eight years of Shrub. Shrub himself produced more debt than anyone.

    But of course, all of this ignores the obvious. The president can’t produce the debt all by himself. Congress’s votes on the budget, congress controls the purse strings. And our useless, do nothing congress, for many more years republican controlled rather than democrat controlled, for more years controlled by the party of fiscal responsibility and not by the party of profligate spending, has been living on our grandchildren a money, refusing to be fiscally responsible, and then blaming Obama for it.

    But sure. If you can blame gay men for molesting children when it is 100% catholic pedophile priests, you can blame Obama.

  • Fran

    As Jesus said, “Stop storing up for yourselves treasures on earth, where moths and rust consume, and where thieves break in and steal. Rather, store up for yourselves treasures in heaven, where neither moth nor rust consumes and where thieves do not break in and steal. For where your treasure is, there your heart will be also” (Matt. 6:19-21).

    Jesus also told his disciples, “…You received free, give free” (Matt. 10:8). It’s really the “spiritual things” that should be more important.

  • Greg1

    Ben, Reagan was not my hero. And when Obama took office, the debt was between 8 and 9 Trillion, and today it is over 17 Trillion. I rounded down in both cases. We all conveniently forget that Obama’s first move was to establish a Trillion dollar deficit the first year. And once they increased the budget, he never brought it back down even after the severe recession began to ebb off. I’m sorry, but Obama is the one who pushed for “trillion dollar deficits,” and the democrat congress at the time was only too willing to cooperate. Now however we have a Congress run by Republicans, but you’d think they were Leftist Democrats.
    https://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

  • Bernardo

    Said assets belong to the parishioners. Next topic.

  • Bernardo

    The referenced NT passages might not be historical. See for example the analyses of all the passages of M, M, L, and J in Professor Gerd Ludemann’s book, Jesus After 2000 Years.

  • Bernardo

    In comparing assets: a few examples:

    The assets of Israeli banks are posted at:
    http://duns100.dundb.co.il/ts.cgi?tsscript=/2009e/e30a4
    The top two banks in Israel have over $600 billion in assets.

    And from: lds-mormon.com/time.shtml

    “All told, TIME estimates that the Latter-day Saints farmland and financial investments total some $11 billion, and that the church’s non-tithe income from its investments exceeds $600 million. ” Tithe income? About $5 billion/yr.