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FOLLOW THE MONEY *LINK*

The real Creator/God of heaven and earth has no need for a Bank, however, He does have considerable competition for ALL His wealth...

Follow the money

Religious institutions have been defined, from a financial point of view, as “unregulated on-shore tax havens subsidised by taxpayers to pursue the supernatural.”*  However, it doesn't always stop with national churches. The Vatican State is a tax haven that's off-shore from its contributors. And it has a further tax haven in the Caymen Islands which is offshore even from itself...

Vatican Bank (Institute for Religious Works)
 
The IOR is built on secrecy. Described by a US court as “murky”, it keeps secret accounts, does no audits, and claims to destroy records after ten years. Since 1998, however, the Vatican Bank has come under pressure from the monetary watchdog, OECD. In 2009, to be able to continue using the euro, it agreed to submit to the anti-money-laundering laws of the European Union thus putting itself under the jurisdiction of the European Court of Justice...

The secret costs of papal visits

Both sides try to keep the costs of papal visits hidden from the taxpayers. The security costs, the largest item by far, never seem to be included in published government figures. An Australian government declared the total expenses to be a state secret. The British Government tried to hide the fact that to pay for the Pope's visit it even diverted money for aid to the world's poorest people...

Church, state and money: How Italy subsidises the Vatican

The Vatican Secretary of State has objected to the publication of these revealing articles, but has not disputed their accuracy. Here is the complete groundbreaking series from La Repubblica specially translated for Concordat Watch, as well as updates on Europe's belated move to challenge Italy's subsidies to the Church under the EU competition rules...

Land and money for the Church while a quarter of Polish children go hungry

The Polish government can afford to subsidise Church influence in every corner of society, from chaplains throughout the civil service to holiday pay for monks and nuns, but is unable to provide free school lunches for Polish children, a quarter of whom are malnourished. This is an itemised list of state subventions to the Church for 2008...

Vatican profits by hobbling competing clinics with Church rules

The Vatican stands to profit from its moves to prevent the United Nations and national governments from funding birth control and abortion services. Keeping these out of all the clinics removes the competitive disadvantage of non-Catholic ones. For an example of this worldwide strategy, follow the health dollars in the US...

German taxpayers subsidise 98% of faith-based social services

Few know that social service employees of German religious organisations number almost 2½ million or that the German churches pay for less than 2% of their “good works”, with the taxpayer left to foot the rest of the bill. This is revealed in an important essay, available in English for the first time, by Dr. Carsten Frerk, an authority on church finances...

The Hidden Wealth of the [German] Catholic Church

Only the budget of the diocese, (funded by the “church tax” on its members), is public. The rest, accumulated over centuries and invested widely, forms a shadow budget, known only to the bishop and his closest associates, and not reviewed by the tax authorities. Despite cash assets estimated at about €50 billion, the Church is cutting back its own small contribution to its “good works”, threatening many with closure. (Spiegel, 14 June 2010)...

Millions for the bishops: Why the German state pays the wages for the church

How did Germany become the cash cow of the Vatican? An English transcript of the lively Spiegel video from 7 June 2010 reveals this unknown story. A few weeks after it came out, German politicians broke a taboo and began to publicly question their 200-year-old tradition of taxing everyone for the salaries of clerics at a cost of  €460 milllion every year...

More than €6 billion of public money reported to go to the Catholic Church or its organisations in Spain

In the 1979 Finance Concordat the Spanish Catholic Church promised to become self-supporting within three years of the introduction of a “church tax”, which was finally imposed in 1987. Yet despite more than 10 years' warning, the Church didn't meet the deadline. Even after the Government increased the “church tax” in 2007 from 0.52% to 0.70%, still no luck. This report from Spanish organisation Europa Laica (Secular Europe) itemises the subsidies...

LINK:
http://www.concordatwatch.eu/showsite.php?org_id=17651

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