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Laundering More Than Sin
Give Unto Caesar
The 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.
Worthy of Comment
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In business school there is little ambiguity as to the mission, money ... profits. In art school it's a little different. The one I went to required focus, after a year of fundamentals, on one of several options: Advertising, Illustration, Industrial Design (all, you'll note, with the same point as business school) or Fine Art. Within the Fine Arts, by year three, one selected a major: painting, sculpture or printmaking. Of course everyone knew that “fine art” was a commodity, but it was considered crass to dwell too much on that area. So what, if not money, was the point? Wel Read on →