The Vatican is the smallest country in the world, which, according to The Fact Life, was formed in 1929 with the signing of the Lateran Treaty between the Kingdom of Italy under Benito Mussolini and the Holy See, its governing body. Vatican.
According to the Smithsonian Magazine, the Catholic Church made a lot of money by looting the coffers of the New World about 500 years ago. But how does the economy work in the Vatican in the 21st century in order to finance development, and consequently to strengthen its power?
According to grunge.com, Vatican City receives some revenue from entrance fees, souvenirs, stamps and other products based on faith. Nasdaq, in fact, states that the Vatican has so much money that no one knows the exact post. The Vatican Bank owns hundreds of millions of dollars in equity and holds more than $ 20 million in gold locked in Fort Knox. Amounts that she certainly did not earn with her income from souvenir shops.
According to South African journalist Zubeida Jaffer, the Vatican is the most powerful economic power on the planet. The Holy See has received what Investopedia described as “buy and hold” in various companies that have shown steady long-term growth, with many of them not having the cleanest records. The Vatican, for example, has occasionally invested in companies such as Gulf Oil and Shell, as well as many banks with a dark past, present and probably future.
Writing about Avro Manhattan philosopher Avro Manhattan’s 1983 book The Vatican Billions, Jaffer quoted a popular Catholic priest as saying that “the Catholic Church should be the largest company in the United States.”
This priest even believed that the Vatican’s assets and real estate surpassed the ownership of traditional giants such as Standard Oil, US Steel and AT&T combined, while Manhattan has designated the Catholic Church as “the most formidable stockbroker in the world”. ». With his fortune being incalculable, grunge.com reports, the Vatican has certainly found a way to continue to be one of the richest organizations on Earth.
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