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Even the Pope is "whining" about the US dollar these days......

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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-13-08 07:55 AM
Original message
Even the Pope is "whining" about the US dollar these days......
from the Guardian UK:



Holy See plunges into red
Graeme Wearden
guardian.co.uk, Thursday July 10, 2008



The Vatican has blamed the weak dollar for pushing it into its first loss in four years.

Annual accounts published yesterday showed that the Holy See dipped into the red last year, recording a loss of €9.1m (£7.25m). It said this was "due mainly to sharp and very pronounced trend reversal in fluctuation of exchange rates, particularly the US dollar".

The US currency has fallen sharply against the euro since the start of last year, hitting the Holy See in the pocket as its expenses are incurred in euros. Much of the Vatican's income comes from donations from Catholics around the world. The US was the largest single contributor to Peter's Pence – the collection used by the Pope for charitably donations - sending almost $19m (£9.5m).

But the shortfall was mitigated by a rise of €4m in property income. The Holy See is a major owner of property across Rome and was criticised last year for raising rents and threatening to evict tenants. Some even formed an association to protest that their homes were being turned into hotels. .......(more)

The complete piece is at: http://www.guardian.co.uk/business/2008/jul/10/vatican.pope.accounts



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old mark Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-13-08 07:59 AM
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1. The Catholic Church also has huge investments in real estate
and busnisses in the US and more in Europe.

God evidently has a hard time handling money - he is always broke.

mark
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-13-08 08:08 AM
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2. He doesn't need to worry much
There will always be money coming in from people who want to bribe their way out of hell.
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SpiralHawk Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-13-08 08:18 AM
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3. Pope Ratzinger needs to talk to Phil Gramm (R)
Who can explain to him that this is all MENTAL.

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peace frog Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-13-08 08:47 AM
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4. Which master does Ratzinger serve
“No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon.” —Matthew 6:24

Yep... mammon it is.


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LiberalFighter Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-13-08 09:12 AM
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5. Maybe the Pope should divest the Church from American Catholics?
Privatize American Catholics?

Lease American Catholics to the Buddhists for 75 years?

Outsource American Catholics overseas?
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Vickers Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-13-08 09:14 AM
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6. Sell some of them funny hats.
I'm sure they're worth something.
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