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	Chapter 2

1.	How much is the Catholic Church worth in terms of net worth and income?
2.	If you went just by the now annual financial statements published by the Vatican then you would assume it to be a frugal organisation of only a few Billion dollars, making perfect sense considering it to be an organisation that has never publicly disclosed any accounting discipline seemingly for its entire life.
3.	However, if you read some of the various pieces of evidence concerning Catholic wealth relating to various dioceses such as Boston and New York, then you would see there exists many more hundreds of millions of dollars of assets not accounted for in annual statements by the Vatican.
4.	All in all however, a reasonable person, even a banker in the industry would be expected to conclude that the true wealth of the Catholic Church globally is certainly only a few Billion dollars, and far less than the “crazy” claims by some that it is the third largest economic entity in the world.
5.	Of course, this carefully managed perception rests on one fundamental principle- that no one reads history books anymore, nor remembers the past. For even a cursory view of history, no matter how superficial reveals just how absurd this “small and poor” image of the Vatican and Catholic Church really is.
	Remembering the unshaking evidence of history
6.	The clear, unmistakable and uncontestable truth concerning the Roman Catholic Church is that for over 1,600 years it has been the most dominant organisation on the planet, of which for 1,000 years it virtually owned directly or indirectly the whole wealth of Europe.
7.	For the four hundred years up until the last century, it was well recognized that the Roman Catholic Church also owned and controlled the wealth and people of the Americas including large parts of South-East Asia and Africa.
8.	Again, let us be absolutely clear on this. The Catholic Church, for over 1,600 years, was the indisputable largest economic entity in humanity's history. No other nation, corporation or group of families came anywhere close. For centuries, the Church and the Popes had unfettered access to the plunder of Islamic countries, of the ancient Celts and Saxons, of ancient Greek, of ancient Egypt, of the entire fortunes of gold of the Americas and of the mines and civilizations of Africa.
9.	As the largest economic entity of history for over 1,600 years, the Catholic Church dominated ownership of every single class of assets, not just gold and minerals. Its property holdings were by far the largest of any economic entity in Europe, let alone conquered lands. Its holdings of art and precious artifacts was and is unheralded.
10.	The Catholic Church was a founder in virtually every historic major enterprise created out of states under its influence. Its holdings in new corporations from trading companies to banks and then major industries were unmatched.
11.	So wealthy was the Catholic Church for over 1,600 years that even if it hired every single person on the planet in 1800 as an employee and paid them in gold coins, it had enough gold reserves to keep everyone gainfully employed for decades.
12.	This total domination of the Catholic Church as the single largest economic entity on planet Earth for over 1,600 years can’t simply be dismissed. Prior to modern revisions of history, it was acknowledged as absolute fact- the Catholic Church was the biggest economic entity on the planet, no question.
13.	How then did something so dominant suddenly appear to drop in asset value to a corporation of only a few billion dollars, that it would not even rate in the top 1,000 economic entities of the world today?
14.	Simply through creative history and creative accounting.
	Creative history
15.	Firstly in regards to creative history, from the early 20th Century, the influence of the Catholic Church began to be downplayed. Its dominance of world affairs was reduced from 1,600 years to less than 1,000 years.
16.	The reasons for this reduction were numerous, but all concerning the common theme- economic and political incompetence with bad fortune. The loss of England was blown up to represent a major blow to the finances of the Catholic Church from which it never recovered.
17.	The wars of the 16th to 18th Century were also blamed for depleting the assets of the Catholic Church until finally the invasion of Napoleaon Bonaparte at the beginning of the 19th Century was used as a final blow to indicate the once great and financially powerful Catholic Church was officially broke.
18.	Of course, in this revised history, the holdings of South and North America, let alone Africa are largely left out, let alone the influence of the Jesuits and Napoleon including the treaty at the early part of the 19th Century after Napoleon was defeated.
19.	Just to make sure, the loss of the Papal States at the end of the 19th Century is also used as the basis of revisionist history to claim the Vatican was broke.
20.	So in the space of 80 years and successive revisionist accepted histories, the world’s largest and dominant entity has been successfully transformed into a dwindling fortune that was lost, stolen and mismanaged over centuries of incompetence to the small remainder we have today.
21.	Remember, this slant on history is relatively recent. To say to an educated person in 1900 that the Catholic Church is not the dominant and largest economic entity in the world at the time, they’d have simply laughed in your face and told you were deluded.
22.	Everyone knew they were the most powerful and wealthiest organisation, bar none one hundred years ago. Now, most people accept they are not even in the top 1,000 economic entities of the world.
23.	Of course, such creative and fraudulent history only works and has credibility if you can successfully hide the once dominant assets of the Catholic Church.
	Creative accounting
24.	To hide the massive assets of the Catholic Church, a decentralized system with safeguards and controls were invented. Whereas it would have been unthinkable even 200 years ago to place such wealth in the hands of bishops. However thanks to modern communication, modern finance and accounting, the task was much easier.
25.	The major investments of property, fixed assets were transferred under the control of the dioceses around the world. In turn, all non-visible church property was hidden via complex shelf companies and trusts.
26.	Major classes of assets such as shares, gold bullion, diamonds and other precious resources were transferred for direct control under the banks owned and controlled by the Vatican.
27.	Using the cloaks of secrecy of Switzerland and even the Vatican itself, the true ownership and identity of these massive treasures could be hidden.
28.	The Vatican depends upon these laws of secrecy to maintain the lie of its true wealth. Without the secret banking laws and lack of uniform, proper and transparent disclosure laws around the world, the great fraud that the Catholic Church is no longer No 1. could not be maintained.
29.	Thus in the end, the single largest economic entity the world has ever seen disappeared from the radar of people’s minds and returned as a poor and impoverished church in desperate need of funds.
	What is the true picture of wealth of the church?
30.	The true picture of the Roman Catholic Church is also the simplest. It remains the single largest and wealthiest economic entity of any nation or corporation on the planet, a position it has held for over 1,600 years.
31.	Unless it somehow is stripped of its assets through international law, a coup or some other uprising of democratic values and ethics, it is unlikely to lose the No 1. spot for some time to come.
32.	In spite of the vast economic wealth of the United States and the emerging economies of India and China, nothing still compares to the Catholic Church.
33.	The extent, source and history of that wealth is now outlined over the next chapters.

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