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The Vatican Exposed: Money, Murder, and the Mafia, by Paul L. Williams
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Over 50 billion dollars in securities. Gold reserves that exceed those of industrialized nations. Real estate holdings that equal the total area of many countries. Opulent palaces containing the world's greatest art treasures. These are some of the riches of the Roman Catholic Church. Yet in 1929 the Vatican was destitute. Pope Pius XI, living in a damaged, leaky, pigeon-infested Lateran Palace, could hear rats scurrying through the walls, and he worried about how he would pay for even basic repairs to unclog the overburdened sewer lines and update the antiquated heating system. How did the Church manage in less than seventy-five years such an incredible reversal of fortune? The story here told by Church historian Paul L. Williams is intriguing, shocking, and outrageous.
The turnaround began on February 11, 1929, with the signing of the Lateran Treaty between the Vatican and fascist leader Benito Mussolini. Through this deal Mussolini gained the support of the staunchly Catholic Italian populace, who at the time followed the lead of the Church. In return, the Church received, among other benefits, a payment of $90 million, sovereign status for the Vatican, tax-free property rights, and guaranteed salaries for all priests throughout the country from the Italian government. With the stroke of a pen the pope had solved the Vatican's budgetary woes practically overnight, yet he also put a great religious institution in league with some of the darkest forces of the 20th century.
Based on his years of experience as a consultant for the FBI, Williams produces explosive and never-before published evidence of the Church's morally questionable financial dealings with sinister organizations over seven decades through today. He examines the means by which the Vatican accrued enormous wealth during the Great Depression by investing in Mussolini's government, the connection between Nazi gold and the Vatican Bank, the vast range of Church holdings in the postwar boom period, Paul VI's appointment of Mafia chieftain Michele Sindona as the Vatican banker, a billion-dollar counterfeit stock fraud uncovered by Interpol and the FBI, the "Ambrosiano Affair" called "the greatest financial scandal of the 20th Century" by the New York Times, the mysterious death of John Paul I, profits from an international drug ring operating out of Gdansk, Poland, and revelations about current dealings.
For both Catholics and non-Catholics this troubling expose of corruption in one of the most revered religious institutions in the world will serve as an urgent call for reform.
- Sales Rank: #284096 in eBooks
- Published on: 2009-09-25
- Released on: 2009-09-25
- Format: Kindle eBook
From Publishers Weekly
Burdened by a lurid title, this is a short history of the politics and finances of the Vatican during the last hundred years. As in his Complete Idiot's guides to the Crusades and to the lives of the saints, Williams displays an ability to compress a great deal of information in a short, highly readable way. His main argument is that the current financial strength of the Roman Catholic Church as well as many of its problems began in 1929 with the signing of the Lateran Treaty, in which a financially besieged Pope Pius XI exchanged recognition and support of Mussolini's Fascist government for more than $90 million and the establishment of the Vatican as a sovereign state. Williams traces how the Vatican's new emphasis on financial stability led it into other morally questionable financial arrangements with Adolf Hitler, the fascist state of Croatia and reputed Sicilian Mafia financier Michele Sindona. He examines carefully the establishment and workings of the Instituto per le Opere di Religione, commonly known as the Vatican Bank, "an entity unto itself without corporate or ecclesiastical ties to any other agency within the Holy See." While parts of the book overlap with other recent works on the Vatican and the popes (especially on Pius XI's refusal to censure the brutal ethnic cleansing of Orthodox Serbs and Jews by Croatia's Ustashi regime), this is a surprisingly solid short look at the dubious financial dealings of the Vatican from the 1920s to the present.
Copyright 2003 Reed Business Information, Inc.
From Booklist
On February 11, 1929, Pope Pius XI signed the Lateran Treaty with Mussolini's government, affirming Il Duce and netting him the political capital necessary for a secure Fascist future in exchange for $90 million in cash, a new tax-exempt papal state on Vatican Hill, government salaries for Italian parish priests, and the promise of both power and financial security. With it was formed the Vatican's Special Administration of the Holy See, the cleric-free investment arm of the Vatican, in the care of Bernardino Nogara, financial architect of the German Reichsbank. Thus ended the church's long-standing ban against usury and began a tradition of financially rewarding Faustian relationships with some of the twentieth century's most unsavory elements, including Nazi Germany and the Sicilian Mafia. Williams, a church historian who has also done FBI consulting, also investigates the suspicious death of reformer John Paul I and the shadiness of business as usual under John Paul II. This is a jaw-dropping book for Catholics and non-Catholics alike, and its straightforward manner and thoroughly documented evidence make it a compelling challenge for reform. Brendan Driscoll
Copyright © American Library Association. All rights reserved
Review
"...a highly critical account...This is a work to be read with caution and an open mind. Recommened." -- Choice, December 2003
"...this is an important work that pieces together the events over several scandal-filled decades." -- Conscience, Autumn 2003
Most helpful customer reviews
0 of 0 people found the following review helpful.
Purchased as a gift
By Jill
I heard this writer speak on the subjects of Islam and terrorism. He is very knowledgeable on the subject of Islam but is rather dry in his presentation. I purchased this book along with his other one on Islam for someone else. Hopefully, his writing is more exciting than his speaking.
0 of 0 people found the following review helpful.
Very good book!!!
By Carol Napiorkowski
Very entertaining and interesting. It was hard to put the bok down!
101 of 117 people found the following review helpful.
Great history book
By Newton Ooi
Growing up in America, one of my favorite topics in school was history, be it American, Western, or world history. Never in all those classes did I come across anything like the tales told in this book. The author is a historian of Christianity, and in this book he gives an inside history of the Vatican, with an emphasis on the 20th century. Specifically, he tells the facts that the Vatican would not like people to know. The major events covered in this book are:
1. The Vatican's treaty with Mussolini and the Fascist Party in Italy whereby the Vatican would get its own land and country from Italy. In exchange, the Vatican would support the Fascists publicly and privately. This occurred in 1929, I think.
2. The Vatican's agreement with Hitler in the 1930s whereby the Vatican would pressure Catholics in Germany to not oppose Hitler. In return, the Nazis gave money to the Vatican in the form of a church tax levied on German Catholics.
3. The Vatican covering up for some of its officials who took part in the Holocaust.
4. The Vatican helping Nazi scientists escape to the US at the end of WWII. In return, the Allies kept secret knowledge about the Vatican's complicy in the Holocaust and private arrangements with the Axis powers.
5. The Vatican aligning itself with the Mafia after WWII to help secure inroads into foreign governments, and get good deals on investments world-wide.
All in all, this was a very impressive book. It is quite short, and probably as easy to read as a Harry Potter book, though shorter than a Potter book. The book is written in chronological order, and there are a lot of references to various primary and secondary sources.
I highly recommend this book.
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