Still (briefly) on the topic of the disintegration of the world’s political and financial structures, I note that the media is carrying a story this morning about the Vatican’s concern about global financial markets. One such report here, from the Guardian.

Synopsizing: the Holy See released a document yesterday that called for a ‘world authority’ that could monitor and intervene in global financial affairs to help restore ‘the primacy of the spiritual and of ethics’.1 The Pope, apparently, is showing his solidarity with the #occupy movement.

Right. So would this be the same Vatican that is the richest religious institution on the planet that pays zero taxes, and has investments in banking, insurance, chemicals, steel, construction and real estate?2 Would it be the same Vatican that continually uses its influence in politics?

Or could it be some other principled Vatican that I’ve not heard about?

  1. Yeah. The ‘spiritual’ in financial markets. I can really see how that fits like a foot in a glove. []
  2. This relates to a 1965 estimate, and is based on accumulated wealth, not operating profits. You may see people claiming throughout the interwebs that the Vatican barely scrapes by, pointing to various balance sheets, like this one that shows a (relatively) modest profit. Don’t be fooled. That’s like someone showing you what they earned at work – someone who never pays taxes, that is – while neglecting to disclose that they have their substantial life savings hidden under the mattress… []