VATICAN LOW ON LIQUIDITY; THE QUESTION IS WHY?
There is another story just out about the Vatican's ongoing financial woes, shared by B., and it's worthy of some high octane speculation. The Vatican, it seems, has been dipping into reserves in order to continue operating:
Note this from the article:
The Vatican warned Friday that it has nearly depleted its financial reserves from past donations to cover budget deficits over recent years, as it urged continued giving from the faithful to keep the Holy See afloat and Pope Francis’ ministry going.
The Vatican published its 2021 budget in its latest effort at greater financial transparency amid a predicted 50 million euro budget deficit this year. The aim is to reassure donors that their money is being well spent, following years of mismanagement that is currently the focus of a Vatican corruption investigation.
Francis’ economy minister, the Rev. Juan Antonio Guerrero Alves, said the coronavirus pandemic, which reduced donations as well as revenue from the shuttered Vatican Museums, would contribute to a projected 30% reduction in revenue to 213 million euros in 2021, from 307 million euros in 2019, the last year available.
But even then, the 50 million euro deficit expected for 2021 will require once again dipping into reserves of past donations to cover expenses. Guerrero confirmed that in 2019, the Vatican used 27.2 million euros in Peter’s Pence reserves to cover its operating costs, on top of the 53.8 million euros in revenue to the Peter’s Pence fund that year.(Boldface emphasis added)
There you have it: the article suggests that most of the shortfall has been due to the planscamdemic and a revenue shortfall.
There's no doubt in my mind that this is true, but true only insofar as it goes. But I want to offer another possible reason for the shortfall, and with it, today's high octane speculation. We can some up this speculation very simply: the Roman Catholic faithful have had it. Consider things from their point of view: first came Vatican II, with its new (and ugly) "liturgy"; "burlap" vestments with ugly appliques screaming things like "love", "joy", "peace" and so on, and a whole host (not to coin a pun) of other uglifications, clergy scandals, financial scandals and so on, all of which have festered for decades, and to top off the circus, a pope - Francis - who seems intent on flouting Roman Catholic tradition and doctrine for every ecumenical photo-op available to him, the most recent example being a prayer service at a Babylonian ziggurat.
One can think of all of this as an ecclesiastical and ecumenical version of globalism, whose political "leaders" are more intent upon maintaining the interests of Mr. Globaloney first rather than their own countries, or in this case, their own churches. And if one thinks that connection to be spurious, consider only that the Rockefaliures were big backers not just of globalism, but backers of the ecumenical movement as well. In this respect, Francis is like the Lutheran pastor who seems more Episcopalian than interested in maintaining the Lutheran confession as set out in the Book of Concord (if, indeed, he even knows about it or has read it), or the Presbyterian pastor who likes to dress up as a Cardinal to "celebrate a mass" for "Ecumenism Togerthness Sunday", and so on.
The effect of all this has been to drive people away; many just stay at home and do the best they can do; others seek out traditional churches of whatever confession they adhere to; others still, simply withhold their money when the collection plate comes around. In any of these cases, the net effect is the same: falling collections on Sundays, and falling attendance. Many - particularly traditional Roman Catholics - have reached the conclusion that in order to keep their baptismal vows, they must withhold their support. Others were appalled at the church's lackluster response to the covid lockdowns.
Or to put all this country simple, the perception exists that the ecclesiastical institution itself is corrupted, and no longer interested in maintaining its confessional position or traditions. And to blame it all on covid, or Francis, is missing the point...
The end result of all of this is that the Vatican's problem is not financial; to employ that overworked and ill-defined word, it is spiritual and thus cultural. There was a time, not too long ago, when one knew exactly where the Roman Church and for that matter many other churches stood. One may not have agreed with any of them, but one at least knew where they stood. It is difficult, nay even impossible, to imagine a Pope Innocent III or a Pope Boniface VIII or even a Pius XII trotting off to Iraq for an ecumenical photo-op at a ziggurat. For that matter, it's equally impossible to imagine a Martin Luther or a Philip Melanchthon or an Archbishop Laud or Bishop Andrewes or Bishop Grafton doing so either. In trying to be shepherds to all flocks except their own, they end up both losing the support of those they claim to shepherd, and merely looking silly to all the others. One cannot, as C.S. Lewis argued, go on seeing through everything, because that simply means one sees nothing at all.
The people see that, and are acting accordingly.
See you on the flip side...
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