The IOR is, apparently, not a believer. The IOR, in case that acronym is unfamiliar, is the Istituto per le Opere di Religione, the Vatican’s bank. That’s right, the place where the Church of Rome collects money is where the work of religion originates. “In God We Trust”
Anyway, the Vatican’s bank is in bad odor with the Bank of Italy, as the Economist reports
…a decision by Italyâ€™s central bank, which doubles as the countryâ€™s banking regulator. Payment services in Vatican City have been provided by the Italian arm of Deutsche Bank since 1997, but it did so with out the necessary authorisation. So the Bank of Italy told it to stop processing the payments. It even refused Deutscheâ€™s request for a moratorium.
There is a suspicion that money laundering is going on! Who would have guessed? For background, see this KOS post.
The irony of money is that it leaves no finger prints, but it can be traced. No wonder the Vatican is rumored to be buying gold. At least that can be reworked into sacred artifacts that don’t have to be surrendered to Caesar on demand.