The Vatican Exposed: Money, Murder, and the Mafia

Overview

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...
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Overview

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.

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Editorial Reviews

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. (Mar.) Copyright 2003 Reed Business Information.
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Product Details

  • ISBN-13: 9781591020653
  • Publisher: Prometheus Books
  • Publication date: 2/15/2003
  • Pages: 350
  • Sales rank: 522,866
  • Product dimensions: 5.59 (w) x 8.40 (h) x 0.78 (d)

Meet the Author

Paul L. Williams is a journalist and the author of The Day of Islam, Osama’s Revenge, The Al Qaeda Connection, and The Vatican Exposed, among other books. The winner of three first-place Keystone Press Awards for journalism, he has written articles for such news outlets as Newsmax, World Net Daily, Family Security Matters, and the National Review. He has also served as a consultant for the FBI, editor and publisher of the Metro (Scranton, PA), and adjunct professor of humanities at the University of Scranton.
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Table of Contents

Introduction: Rags to Riches 9
Ch. 1 The Donation of Mussolini 15
Ch. 2 The Miracle of the Money 33
Ch. 3 Mammon Triumphant 41
Ch. 4 The Formation of the Vatican Bank 55
Ch. 5 Catholic Croatia and Nazi Gold 63
Ch. 6 Riches and Ratlines 73
Ch. 7 Wealth beyond Measure 79
Ch. 8 The Pink Pope 89
Ch. 9 Montini's Maelstrom 95
Ch. 10 Enter the Shark 103
Ch. 11 The Secret Society 111
Ch. 12 High Times, New Crimes 123
Ch. 13 The Counterfeit Church 131
Ch. 14 The Crash of Vatican, Inc. 141
Ch. 15 The Pope Must Die 149
Ch. 16 The Ambrosiano Affair 163
Ch. 17 In the Wake of the Storm 173
Ch. 18 Business as Usual 181
Ch. 19 A Fortress Impregnable 189
Epilogue: And So It Goes 197
App. A A Chronological List of the Popes 203
App. B The Lateran Treaty of 1929 209
App. C The Concordat between the Holy See and the German Reich 223
Notes 235
Index 255
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Sort by: Showing all of 2 Customer Reviews
  • Anonymous

    Posted August 7, 2005

    a great book

    In its expose of Vatican intrigue - particularly as its pertains to pre-World War II - this book is exceeded only by Lucien Gregoire's 'Murder in the Vatican'. Both books are very much history books are written to the marker's mark.

    1 out of 1 people found this review helpful.

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  • Anonymous

    Posted June 21, 2003

    Must Reading

    _The Vatican Exposed_ is must reading for Catholics and non-Catholics alike. Williams' clear, concise, just-the-facts-ma'am style lays bare the gross excesses and egregious errors of the Roman Church; his documentation is thorough and convincing. Read this book. You will be amazed and disturbed.

    1 out of 1 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
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