Vatican ’Cash Only’, Blocks Credit Cards
2013-01-07 0:00

By Elizabeth Leafloor | RedIceCreations.com



In God We Trust - All Others Pay Cash

A money laundering crackdown by the Bank of Italy has caused the Vatican to abruptly go to ’cash only’ for tourists. Credit card and debit card purchases are being declined, and on-site cash machines have been shut down or removed.

This is apparently in an attempt to hold the notorious Vatican Bank accountable to their inadequate money-laundering controls.

The Globe and Mail reports:

Some commentators have mused on the paradox of telling people to use cash when trying to monitor money-laundering activities. The Vatican has played down the episode, passing it off as a temporary glitch after the expiration of an agreement between some Holy See offices and the current provider of its electronic point-of-sale services.

The Vatican spokesman, Federico Lombardi, told reporters this week that discussions with other providers were under way, and that the interruption of credit card and debit card sales “would be short-lived.”

But the Bank of Italy’s actions underscore larger concerns about the transparency of the Vatican’s finances, something that Pope Benedict XVI has promised to fix.

The Bank of Italy – which monitors the activities of Italian banking institutions, even in foreign states – did not issue a formal statement. But financial experts said the bank’s decision reflected concrete concerns over banking and financial legislation at Vatican City state, as well as an inadequate system of independent supervision.

While the Holy See has traditionally been tight-lipped about the dealings of its primary financial institution, the Institute for Works of Religion, also known as the Vatican Bank, the Vatican has worked in recent years to comply with international transparency and money-laundering standards, with mixed results.


From EuroNews:


The cash-only measurements come after implications of money laundering and scandal have shaken the Vatican Bank (Institute for Works of Religion), including the dismissal of the former Director, Ettore Gotti Tedeschi. This, plus countless child abuse investigations, and the Pope’s personal butler leaking papers which allegedly highlighted corruption, has left the Vatican reeling and struggling to secure the power and influence it once maintained.




By Elizabeth Leafloor, RedIceCreations.com






To hear more indepth discussion of the history of the Vatican Bank, murder, coverup and corruption, tune into Red Ice Radio:

Philp Willan - The Last Supper, Vatican, Masons, P2, Mafia & the Murder of Roberto Calvi

William Dean A. Garner - Hour 1 - World Control, Gold & The Jesuits

Tom Horn - Hour 1 - Petrus Romanus: The Final Pope

Eric Phelps - Vatican Assassins

Santos Bonacci - Roman Ecclesiastical Law & Sovereignty



Top Image: Gloria.tv




Related Articles
Papal Impropriety: The Dark Secrets Of The Vatican Bank
God’s Banksters: Vatican Bank Raided In Money Laundering Investigation
Vatican Bank Under Scrutiny
Italy suspends Vatican bank card payments


Latest News from our Front Page

Forgotten British Heroes Campaign
2015-08-04 0:16
The text of the letter from the Forgotten British Heroes Campaign to the Israel ambassador in London, Daniel Taub. This will be delivered to the Israel Embassy on Saturday 1st August, the day on which the Campaign will hold a wreath-laying and then a meeting at the site of a notorious Zionist terrorist bombing near to Trafalgar Square (the former British ...
Baltimore Murders Tie Records After Freddie Gray Killing, 45 Killed In July To Make It The Deadliest Month In At Least 45 Years
2015-08-03 23:14
The number of people murdered in Baltimore hit a record-tying 45 homicides for the month of July, the Baltimore Sun is reporting. The number is an uptick that follows a trend of increased violence in the city in the months after the Baltimore riots that resulted from the death of unarmed black man Freddie Gray on April 12. The increased violence in Baltimore, which was already one ...
Executive arrested over disappearance of $390 million in Bitcoins
2015-08-03 23:38
Mark Karpeles, head of collapsed MTGox Bitcoin exchange held by Japanese police Japanese police on Saturday arrested Mark Karpeles, head of the collapsed MtGox Bitcoin exchange, over the disappearance of about $390 (£250 million) worth of the virtual currency, local media said. France-born Karpeles, 30, is suspected of having accessed the exchange's computer system and falsifying data on its outstanding balance, ...
Sweden invents a word for girls' genitals equivalent to 'willy' for boys
2015-08-03 23:37
Everyone in the Scandinavian country uses the term ‘snippa’ for girls’ genitals. But few know it was a feminist invention Snoppen och Snippan, a TV cartoon of dancing children’s genitalia, was a massive hit on the internet. I only ever speak English to our three-year-old daughter, and my wife only speaks Swedish to her. The one exception is the word snippa. It’s ...
Europe should be "preserved" for Europeans, says Hungarian PM
2015-08-03 23:07
The Hungarian prime minister, Viktor Orban, says there is a link between illegal migrants heading to Europe and a rising threat of terrorism. He is seen here speaking on Saturday. Orban's conservative government has erected a four-metre-high fence along its border with Serbia. Orban, whose Fidesz party is losing ground to Hungary's far right, Eurosceptic, anti-immigration Jobbik party, adds that ...
More News »