of income—barely pay for maintenance. And what would someone do with it if they purchased it, especially once they discovered it was a loss leader? Build condos over it? What would one do with the Vatican museum? Maybe the Italian government could buy it as a station on the unfinished Roman metro line. The Vatican’s endowment is less than that of a mid-level American Catholic university. It necessarily lives a hand-to-mouth financial existence. It puts on a great show with its splendors and its ceremonies, but the wealth that paid for its splendors vanished long ago and it can barely pay for the ceremonies.”
“The Vatican’s assets [have always been] a well-kept secret but one which is the topic of much speculation. Estimates range from $1.5 billion to $15 billion and more. They include works of art and buildings, which for the most part cannot be sold. Large parts of the Vatican’s assets are in securities and gold reserves. Additional assets are in rental revenues, the sale of coins, stamps and souvenirs.” Like palaces, royal residences, historic stately homes and manors in Great Britain, the Vatican has become a tourist attraction and money raiser.
Financial experts note that despite its wealth, the Vatican’s budget has shown a deficit of several million dollars since 2001, but its debt is secured by assets. The largest include the Vatican’s properties in and around Rome, the papacy’s summer residence in Castel Gandolfo, office buildings, palaces and cathedrals. Vatican City, with fortress walls dating back to the sixteenth century, gained independent status in 1929 after the conclusion of “Lateran Pacts” with Italy. On February 11 of that year, Pope Pius XI and Benito Mussolini created the Vatican in its current dimensions and secured additional sovereignty rights and buildings.
According to Ivan Ruggiero, the Holy See’s chief accountant, Vatican real estate is worth about $1.21 billion, not including its priceless art treasures. “The value of the real estate holding was calculated without taking into account its real value on the market,” said Ruggiero. “And of course, the vast artistic holding of the Holy See was not taken into account, since it is a priceless and non-commercial holding. (Because of it being ‘priceless,’ the value of the art treasures has been listed as ‘One Euro.’)” St. Peter’s Basilica is categorized “beyond market values.”
In July 2008, the Associated Press reported that the Vatican ran a deficit in 2007, which the Holy See attributed to “the weak dollar in the generous collection baskets from the U.S. faithful,” and steep costs of running the Vatican’s media (a newspaper and radio station). “The Vatican issued financial figures showing a nearly $13.5 million deficit. It cited the sharp drop in the exchange rate for the U.S. dollar. The Vatican in Rome pays many of its expenses in euros, a currency that had soared in value against the U.S. dollar. The financial report, released by the Holy See’s press office, listed 2007 revenue of $371.97 million against expenses of $386.27 million.
“The Vatican said its financial investments were hurt ‘principally by the sharp and rather marked inversion in exchange rates, above all for the U.S. dollar.’ The Vatican said rents and other income from its vast real estate holdings helped its finances. The Vatican Museums, which include the Sistine Chapel, a top tourist attraction, also helped the Holy See’s finances.”
“The Vatican’s annual Peter’s Pence collection worldwide found that the U.S. faithful were the most generous in absolute terms of the amount donated, more than $18.7 million.”
“No nation of Catholics gives more than Americans. A cardinals’ advisory committee on Holy See finances released a report in 2008 that showed the U.S. was the top contributor nation ($19 million, or 29% of the total) to the Holy See’s charitable spending in 2007, and came in second (after Germany) in contributions to the support of the Holy See itself.”
In 2007, the Vatican decided to “give financial rewards to employees who were doing a good job.” “It said it would take into account employee ‘dedication, professionalism, productivity and correctitude’ when awarding a pay rise…. More than 4,000 people, from cardinals to cleaners,” were employed by the Holy See in the Vatican. “Base pay across a broad spectrum of jobs reportedly ranged from 1,100 euros ($1,634) to 2,200 euros ($3,268) a month.” A recent account gave the number of employees at 2,659, of which 744 were diocesan priests, 351 men and women in religious orders, and 1,564 laity.
When Pope John XIII was asked how many people worked in the Vatican, he quipped, “About half.”
CHAPTER 4
Naughty Priests
When a Texas lawyer was digging in Vatican archives in 2003 in the pursuit of cases on behalf of American victims of sexual abuse by Catholic priests, he found a document titled De Modo Provedendi di Causis Crimine Soliciciones (On the Manner of Proceeding in Cases of the Crime of Solicitation). Bearing the signature and seal of Pope John XXIII, it was written in 1962 by Cardinal Alfredo Ottaviani and distributed to senior clerics all over the world with an order that it was to be kept secret.
The sixty-nine-page document dealt primarily with any priest who tempted anyone in the act of sacramental confession “towards impure or obscene matters.”
Bishops who received the order were instructed to pursue these cases “in the most secretive way.” Everyone involved, including the alleged victim, was sworn “to observe the strictest secret, which is commonly regarded as a secret of the Holy Office” under penalty of excommunication. The “worst crime” was defined as “any obscene external deed, gravely sinful,” carried out by a cleric “with a person of his own sex.” The document was described as “strictly confidential” and was not to be published.
Seven centuries before Pope John XXIII authorized the Vatican’s cover-up of sexual abuse of boys and young men by priests, St. Thomas Aquinas (1225–1274) stated “right reason declares the appointed end of sexual acts is procreation,” and declared that homosexuality was one of the gravest of the peccata contra naturam or “sins against nature.” But buried in Vatican archives are records of papal misbehavior that included Pope Clement VII having sex with page boys, Benedict IX engaging in both bestiality and bi-sexual orgies, and Boniface VII being described as a “monster” and a criminal. Leo I was a sadist and torturer, Julius III sodomized young boys, Clement VI frequented prostitutes, Anacletus raped nuns, and Paul II liked watching naked men being put on the rack and tortured.
Vatican archives and Church records attest to the problem of priestly sexual misbehavior, the Church’s struggle to stamp it out, and instances of covering it up. One week after the election of the present Pope, Benedict XVI, in 2005, it was reported that in his previous position as head of the Congregation for the Doctrine of the Faith he had issued an order ensuring that investigations into sex abuse claims against priests be carried out in secret. It was alleged “in a confidential letter which was sent to every Catholic bishop in May 2001. It asserted the Church’s right to hold inquiries behind closed doors and keep the evidence confidential for up to ten years after the victims reached adulthood. The letter was signed by Cardinal Joseph Ratzinger (the Pope’s name before he was elected as John Paul II’s successor).
“Lawyers acting for many abuse victims claimed that the letter was designed to prevent the allegations from becoming public knowledge or being investigated by the police. They accused Cardinal Ratzinger of committing a ‘clear obstruction of justice.’
“The letter, ‘concerning very grave sins,’ was sent from the Congregation for the Doctrine of the Faith, the Vatican office that once presided over the Inquisition…. It spelled out to bishops the church’s position on a number of matters ranging from celebrating the Eucharist with a non-Catholic to sexual abuse by a cleric ‘with a minor below the age of eighteen years.’ Ratzinger’s letter stated that the church could claim jurisdiction in cases where abuse had been ‘perpetrated with a minor by a cleric.’ The letter stated that the church’s jurisdiction ‘begins to run from the day when the minor has completed the 18th year of age’ and lasts for 10 years. It ordered that the ‘preliminary investigations’ into any claims of abuse should be sent to Ratzinger’s office, which had the option of referring them back to private tribunals….
“Cases of this kind are subject to the pontifical secret,” Ratzinger’s letter concluded. Breaching