VATICAN CITY (AP) — The Vatican has registered one of its worst budget deficits in years, plunging back into the red with a (EURO)15 million ($19 million) deficit in 2011 after a brief respite of profit.
The Vatican on Thursday blamed the poor outcome on high personnel and communications costs and adverse market conditions, particularly for its real estate holdings.
Not even a (EURO)50 million gift to the pope from the Vatican bank and increased donations from dioceses and religious orders could offset the expenses and poor investment returns, the Vatican said in its annual financial report.
The Vatican said it ran a (EURO)14.9 million deficit in 2011 after posting a surplus of (EURO)9.85 million in 2010. The 2010 surplus, however, was something of an anomaly. In 2009 the Vatican ran a deficit of (EURO)4.01 million, in 2008 the deficit was (EURO)0.9 million and in 2007 it was nearly (EURO)9.1 million.
The Vatican city state, which mainly manages the Vatican Museums and is a separate and autonomous administration, managed a budget surplus of (EURO)21.8 million. That’s largely due to a spike in revenue from the museums: More than five million people visited the Sistine Chapel and other works of art in the Vatican museums last year, bringing in (EURO)91.3 million in 2011 compared to (EURO)82.4 million a year earlier.
And the Vatican could also cheer that donations from the faithful were also up last year despite the global economic crisis: Donations from Peter’s Pence, which are donations from the faithful to support the pope’s charity works, rose from $67.7 million in 2010 to $69.7 million last year. That money, however, doesn’t figure into the Vatican’s operating budget, though contributions from dioceses, religious orders and the Vatican bank do.
Today John Embry gave King World News an extraordinary interview. Embry, who is Chief Investment Strategist of the $10 billion strong Sprott Asset Management, discussed market manipulation, the crisis today vs the 70s, inflation and where we are headed. Here is what Embry had to say: “I’m fascinated by this whole Barclays situation, in the sense that they have been accused, and have admitted as such, that they have been manipulating Libor. This actually affects about $360 trillion worth of the world’s financial transactions.”
Reporting on this is silly in a way, because it has always been postulated that the “$2 billion” trading debacle that had Jamie Dimon in front of congress might actually be for a much larger, undisclosed amount.
Well, here’s confirmation that those initial reports were true – however it remains to be seen whether even more losses will be uncovered. As Max Keiser has reported, these banks are simply insolvent and it is only the artificially intelligent trading platforms that are giving the system any semblance of stability. Undeterred, the cabal continues on as it is now being reported that JP Morgan is down 5% before trading opens as it has been revealed their trading loss has been unwound a bit and now totals 9 Billion! Interesting development given the greenlight by Drake as well as the report from yesterday detailing a series of “living wills” developed by the biggest banks in case they fail. Read on for the official piece:
(Reuters) – JPMorgan (JPM.N) (JPM.F) shares fell 5.3 percent in Frankfurt on Thursday after a newspaper reported that losses from a bungled credit derivatives trade could reach $9 billion in a worst-case scenario.
The U.S. bank’s shares in New York are also trading down 5.4 percent in pre-market trading.
The story was “likely disappointing today” for the shares, Evercore Partners said in a research note.
JPMorgan said in May that it had lost $2 billion on the trades, but these losses have mounted in recent weeks as the bank has unwound its positions, the New York Times reported on Thursday, citing people briefed on the situation.
An internal report at the bank projected in April that the losses could reach $8-9 billion, assuming worst-case conditions, the newspaper said.
A phoenix has a 500 to 1000 year life-cycle, near the end of which it builds itself a nest of twigs that then ignites; both nest and bird burn fiercely and are reduced to ashes, from which a new, young phoenix or phoenix egg arises, reborn anew to live again.
Manly P. Hall lays out in his book "The Secret Destiny of America" that the American seal may well have a Phoenix (not an eagle), symbolizing the rebirth of freedom among other Ancient prophecies. In Hall's work, he provides evidence that North America was a prophesized and destined land for this rebirth to take place.
David Wilcock just released a new 3-hour interview with “Drake.“ According to David, Drake is one of a vast network working as a cooperative to bring down the international corporate cabal. They do not have a leader, they do not have a flag, and not all people involved are “educated.” Drake explains that this shift does not require you to be a rocket scientist or a high-level official to have “credibility.” Such is the nature of freedom, it applies to ALL. In Drake’s own words:
A qualified person does not have to be a rocket scientist. Try finding someone who is so honest it hurts to be around them. A person who knows the meaning of right and wrong according to their conscience…and who listens to it. In order to start to turn things around, it will take as many people as possible to stand up in any way they can. Put together groups all over our country at the local level. Get everyone to know each other and look into using your group to put the right kind of people in office.
Who am I to speak and by what authority do I do so?
It is each persons constitutional ‘duty’ to remove a repressive government…the present one qualifies.
I feel a moral obligation to stop the theft so hungry children in our own country of plenty, can eat.
It ain’t doing this for me.
It is for my children and grandchildren, because their future hangs in the balance…
I feel it is the least I can do for them.
As one voice in the wilderness…I CRY FREEDOM…!
~Drake
This source, David says, is the only source other than himself and Benjamin Fulford to really “come out” on the internet in acknowledgement of a positive faction working AGAINST the New World Order. Like Fulford has claimed, Drake goes on to say that what will transpire will be legal but VERY dramatic. So dramatic that everyone listening should be prepared to explain and educate people in the panic that will ensue.
It is also revealed that this plan was so extensive there existed a 5 inch thick document in the 1970’s to brief newcomers on the details. This, I am assuming, ties in with the Keenan lawsuit (detailed HERE), the new financial order, and a huge number of banker resignations. There truly is an acceleration of world events, the likes of which are becoming exponential in both strangeness and magnitude.
I have summarized the meat of the interview, which should pique some listeners interest! I am not claiming any of these as true, only that they were topics in the audio blog:
Legal re-declaration of independence by citizens; rebirth of constitutional government
Declaring states separate from corporate government, making states operate as individual nations under the constitution
The United States has given notice and been liberated internationally from the control of the corporate government ALREADY
The bringing down of the international financial cabal, New World Order and Illuminati network
Martial Law under this plan will not happen, though some networks will spin it as such
Massive arrests involving 1000’s of people will happen within a 72 hour period of time
Drake says “1-day window of notification will be given” on the internet prior to green-light for mass arrests
NO Chaos. The plan is to have lawful deconstruction of cabal influence
Legal rescinding of all unconstitutional laws and regulations after the date of the 13th amendment – instant freedom to interact as you wish so long as it doesn’t harm another
Possible use of FEMA camps to hold criminals
There WILL be some economic disruption – prepare accordingly (1-2 month supply of food)
Stock up on toilet paper
Release of high efficiency energy systems would in a matter of months transform the economy
Cabal has lost its power base and ability to pay mercenaries to do its bidding
Trillions of dollars sent electronically out of the country after 07-08 financial crisis (In about 7 minutes!!)
Clamp down involving all mass-arrests will close air traffic, closing of borders, satellite shut down to prevent electronic financial theft
An education channel will be established to inform the public about who the criminals are and how they took over
Mass arrest operation will take 72 hours, resulting in a press conference at the White House
Old funds held within US to pay national debt four times over
Golden Age: Drive without gas, no taxes, food replicators
Moneyless society; in a society without scarcity of resources the concept of money for trade is useless
Tear-down of police state
Public education does not work because curriculum is predicated on lies; lies are incompatible with human mind
Entire Pentagon (Both positive and negative factions) are now aware of stated plan to take down the cabal
Propaganda Media will be included in ultimate judgement of complicity and acquiescence with “the big lie”, dismantling of said institutions to follow
Personal note: before anyone tries to discredit David Wilcock, have the decency to read his book. I have read and highly recommend reading Source Field Investigations. It’s crucial material if you want to fill in the blanks for when David speaks and you can’t quite follow. I also recommend watching the movie Thrive afterwards. If you have ever considered yourself “open-minded,” then test your limits by studying these two bodies of work. In the case of Thrive, you have no excuse – it is going Free!
VATICAN CITY (AP) — The Vatican has registered one of its worst budget deficits in years, plunging back into the red with a (EURO)15 million ($19 million) deficit in 2011 after a brief respite of profit.
The Golden Rule 