Laundering More Than Sin

pope on coinThe IOR is, apparently, not a believer. The IOR, in case that acronym is unfamiliar, is the Istituto per le Opere di Religione, the Vatican’s bank. That’s right, the place where the Church of Rome collects money is where the work of religion originates. “In God We Trust”

Anyway, the Vatican’s bank is in bad odor with the Bank of Italy, as the Economist reports

…a decision by Italy’s central bank, which doubles as the country’s banking regulator. Payment services in Vatican City have been provided by the Italian arm of Deutsche Bank since 1997, but it did so with out the necessary authorisation. So the Bank of Italy told it to stop processing the payments. It even refused Deutsche’s request for a moratorium.

There is a suspicion that money laundering is going on! Who would have guessed? For background, see this KOS post.

The irony of money is that it leaves no finger prints, but it can be traced. No wonder the Vatican is rumored to be buying gold. At least that can be reworked into sacred artifacts that don’t have to be surrendered to Caesar on demand.

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Monica Smith

Monica Smith writes Hannah's Blog. Born in Germany, she came to the United States as a child, living first in California, then after an interval in Chile, in New York. Married to a retired professor at the University of Florida, where she lived for 17 years, she moved to St. Simons Island, Georgia, in 1993 and now divides her time between Georgia and New Hampshire. (New Hampshire, she says, is always interesting during a presidential election.) She and her husband have three children and five grandchildren. Ms. Smith says she "learned long ago that I am not a good team player when I got hired at the Library of Congress, fresh out of college with a degree in political science and proficiency in four foreign languages, to 'edit' library cards and informed my supervisor that if she was going to insist I punch the clock exactly on time, my productivity was going to fall from being the highest to being the same as everyone else's. The supervisor opted to assign me to another building where there was no time-clock. After I had the first of our three children, I decided a paycheck wasn't worth the hassle."