Connect with us

Hi, what are you looking for?

Underworld

What’s coming? Pope Francis ordered all church money to be transferred to the Vatican Bank by October 1

What's coming? Pope Francis ordered all church money to be transferred to the Vatican Bank by October 1 1

As many are well aware, many ominous forecasts have been made at various times for September 2022, according to which some kind of “global financial reset” is being prepared. And so, it just so happened that the holy Catholic Church decided to put financial affairs in order just for the Jewish New Year, which comes on September 26, and many clairvoyants are associated with this date. We don’t even know how to interpret this news – the holy fathers know better where to keep the money. 

The Pope has reportedly asked citizens and businesses controlled by the papal state to transfer all their assets held outside the Vatican back to its vaults.

These include all valuables they hold in foreign safe deposit boxes or bank accounts, such as gold, silver, stocks, bonds, cash, and all that until October 1 at the latest.

Many associate this move by the Pope with an impending financial – at least – disaster wanting to save all the assets that are outside the Vatican.

Others say it’s a move by the Pope to shore up the Vatican bank, which is seeing a drop in cash deposits ahead of a harsh winter.

More specifically, Pope Francis ordered the Holy See and its affiliated entities to transfer all financial assets to the “Institute for Works of Religion” IOR (Institute for Works of Religion), commonly known as the Vatican bank.

The Pope’s text, issued on August 23, clarifies the interpretation of a paragraph in the new constitution of the Roman Curia, Praedicate Evangelium, published in March.

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

Advertisement. Scroll to continue reading.

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

Although commonly called a “bank”, the IOR is technically a financial institution, without branches, working in the Vatican City State to provide services to clients, which include the Holy See and affiliated entities, religious orders, clergy, Catholic foundations and Holy See the workers.

The IOR saw its client count fall by 472, from 14,991 clients at the end of 2020 to 14,519 in 2021. Almost half of its clients in 2019 were religious orders.

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

In his August 23 letter, Pope Francis said that article 219, paragraph 3 of the Praedicate Evangelium “must be interpreted to mean that the activity of the asset manager and custodian of the movable heritage of the Holy See and the institutions connected to the Holy Headquarters is the sole responsibility of the Institute of Religious Works”.

The decree will force institutions of the Holy See, including the Secretariat of State, to transfer their financial data to the IOR by the end of September. The Foreign Office is known to have had accounts with Swiss financial institutions, including Credit Suisse, through which the controversial London building investment was originally made.

Article 219, paragraph 3 of the new tenure constitution says:

“The execution of the financial transactions referred to in §§ 1 and 2 is carried out through the Institute for Works of Religion”, the IOR.

Advertisement. Scroll to continue reading.
Comments

You May Also Like

Fact or fiction

Pope Francis has fueled speculation that he may intend to resign after a trip was postponed and an unusual meeting convened. Exhausted by pain...

Aliens & UFO's

As humanity struggles to learn more about space, NASA has hired a team of 24 priests and theologians to prepare people for contact with...

Apocalypse & Armageddon

According to highly reliable sources at the Vatican, Jorge Mario Bergoglio announced his decision to step down in December. The news appeared on 23 August...

Fact or fiction

As israel365news.com reports, a huge scandal flares up in Israel around the illegal excavations of the Vatican on the Temple Mount and, possibly, even the Vatican’s attempts...

Underworld

The Vatican has warned its officials that they risk losing their jobs if they refuse to be vaccinated against COVID-19 without serious health reasons....

Apocalypse & Armageddon

Almost 900 years ago, an Irish archbishop predicted that there would be only one pope after Benedict XVI. Pope Francis is currently the papal throne,...

Science & Technology

The head of the Roman Catholic Church, Pope Francis, called on Catholics around the world to pray that robots and artificial intelligence “always serve...

Aliens & UFO's

As the Associated Press reports on July 29, 2020, the Vatican and the Catholic Diocese of Hong Kong have been targeted by Chinese hackers...

Advertisement