Thursday, February 14, 2013

Love of money is the root of all evil

The (progressive/business oriented) Manila Bulletin claims the pope is resigning over 30 million dollars of money laundering in the Vatican Bank.

Uh, fellahs, even Wikipedia notes that this "Scandal" is not news.

The Vatican bank scandal has been around since the 1970's, and a few people have been murdered trying to cover it up.(print Masonic conspiracy theory here)... But 30 million dollars? That is nothing in the world of big business finance.

The Vatican Bank started with Mussolini's money settlement for Giribaldi stealing the Vatican states and making them part of Italy. It would be nice if they got rid of the bank, but institutions need investments to live off the income in today's worlds (In the same way that medieval monasteries ran poor houses, hospitals and schools from the income of land donated to them by dying rich sinners)...These things go in cycles, so expect another cleanup. The good news is that the church will throw out the bums and start again much poorer. The bad news is that the money will end up in someone else's pockets (e.g. Henry VIII gave his supporters all those lovely monastery buildings and land. Downton abby was stolen, and the ones who suffered were the local poor).

The "Masonic" conspiracy theories have some validity here: also see this book by David Yallop

and Godfather III has the ongoing scandals as a sideplot/

A side note: Andrew Greeley (in a novel) says that the Chicago Polish America bishop was the fall guy for the scandal because he was naive. (Greeley's R rated novels include a lot of church scandals in fictional form. The difference is that he always includes good guys in the novels, which the "ain't it awful" folks never do).

Ah, but it isn't just someone in the Vatican Bank who is laundering money: just ignore the billions laundered by other banks who got only a slap on the wrist.

SpiritDaily's take on the matter (writer is an environmental reporter who got religion)

From USAToday:
NEW YORK — British banking giant HSBC agreed to pay a record $1.92 billion settlement Tuesday after a broad investigation by U.S. federal and state authorities found the bank violated federal laws by laundering money from Mexican drug trafficking and processing banned transactions on behalf of Iran, Libya, Sudan and Burma .

That's the fine, not how much they laundered...

Since 2009, foreign banks with U.S. arms, including Credit Suisse, Barclays and Lloyds, have made payments to settle allegations they moved money for people or companies that were on a U.S. sanctions list. Because these banks had U.S. subsidiaries, they are subject to U.S. laws and regulations.
Both scandals have been discussed on C2CAM in the past, both the vatican/Catholic carelessness with your money, and the. 2012 on the bank scandal.... The church has the excuse that some are naive about the evil in the world, and just don't see evil, but what is the excuse of the federal regulators whose job it is to notice such things, and then settling with the bank instead of jailing the culprits?

Ah, it's nice to be the king: from Global research
The total fine of $1.9 billion (i.e. the fine against the bank) is only 8.6 percent of the $22 billion profit the bank recorded in 2011, and is likely less than the profits HSBC made over many years serving as the main financial conduit for Mexican drug lords, including the Sialoa Cartel.
More from Democracy NOW, some more figures

This is one issue where the tea party and the Occupy movement agree...

And if you really are into conspiracy theories, explain why Malachy Martin, Andrew Greeley, and Hillary Clinton all had simple falls and developed subdural hematomas that put them out of the action (Martin died, Greeley is still incapacitated, and Hillary was out of it for awhile and hasn't fully recovered)....

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