Vatican possesses riches to erase world poverty twice

Posted by: Diario Salto Al Día January 08, 2019 16

Did you know that the Vatican has enough money to end world poverty twice? The Vatican collects the second largest treasure in gold in the world.

In the Italian magazine "Oggi" the treasure in gold of the Vatican, based on "extraordinary information" was placed behind that of the USA, as the second largest in the world with 7,000 million liras = 3,500,000,000 Euros. In comparison, the value of the treasure in gold of the state of Italy is "only" 400 billion liras. This was in 1952. What will be the current size of the Vatican treasury? Let's calculate the increase in value, then the value of gold today would be 63% higher. With the sale of the Vatican treasury, according to the moment of a possible disbursement, it could have produced a profit of 650%. And here one asks:

How did the Vatican reach this enormous patrimony in gold?

The external financial reserves of the Vatican are mainly concentrated in Wallstreet. In total the patrimony of the church's central office, in shares and other participations in capitals, in the year 1958 should have reached some 50 billion deutsche marks ".

This figure, meanwhile, must have probably grown by much more than 100 billion Euros.

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The riches of the Vatican are incalculable:

In Spain the Catholic Church is a great real estate power. There is no town without a church, or a city without a cathedral, or almost a mountain without a hermitage. It is estimated that the ecclesiastical heritage is composed of 100,000 properties. In other words, 80% of the national historical-artistic heritage belongs to the Church. (...) For sample, 70% of the habitable floor of the old city of Toledo is in the hands of the Church. And the same can be said of Ávila, Burgos or Santiago de Compostela. (...) Nobody knows the total amount of the ecclesiastical patrimony. The Church does not say so, hiding behind the diocesan functioning of it (El Mundo, 22.01.02).

The treasure in gold accumulated by the Vatican is possibly one of the largest in the world. To the Indians of America - who were killed millions for this gold - to this day nothing has been returned to them.

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The Spanish Church is a shareholder of companies such as Inditex (Zara), Endesa, Banco Popular or Teléfonica. Through Umasges, the society created by the ecclesiastical leadership, it invests in the stock market.

The Holy See owns shares in General Motors, IBM and Disney, and is an investor in food companies (FOCUS-online). To this we must add service and telecommunication companies, as well as banks and insurers valued at more than 12,000 million euros.

The millionaire Church demands from the State each year millions of euros in subsidies:

The Spanish State and the Holy See signed on January 3, 1979, among others, an Agreement on Economic Affairs of the Spanish Catholic Church, which contains its financing and exemption of taxes.

Only in direct charge of the General Budgets of the State, the Catholic Church received in 2005 the not insignificant figure of 141,469,680 euros.

The government has decided to make an annual gift in charge of the public coffers and with address to those of the Episcopal Conference of 35 million euros extra, regardless of what would correspond by law. (El País, 12.11.05). There are few concrete data about the money received by the Church from different public administrations in order to conserve and maintain their patrimony (churches, cathedrals or other buildings of their property); nevertheless, on November 17, Cadena Ser published a report prepared by the Caja Madrid Foundation in which the data for 2001 were unveiled. The Church had received 106 million euros mainly from the coffers of the town halls in respect of «Heritage conservation».

While many public centers suffer from painful situations, with scarce infrastructures, overcrowding, lack of resources, etc., the State subsidizes 2,500,000 euros private education centers that belong to the Church.

The total amount that the Church receives from the public coffers amounts to more than 3,300 million euros annually. In addition to other tax advantages, the Church does not pay VAT on purchases, nor pay inheritance or donation tax.

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