“Pope Francis has ordered that the Holy See and connected entities move all financial assets to the Institute for Works of Religion (IOR), commonly known as the Vatican bank. The pope’s rescript, issued Aug. 23, clarifies the interpretation of a paragraph in the new constitution of the Roman Curia, Praedicate Evangelium, promulgated in March. According to Francis’ rescript, financial and liquid assets held in banks other than the IOR must be moved to the Vatican bank within 30 days of Sept. 1, 2022.”
This news item brings more questions than answers for me. Please share your thoughts why the Pope would do this. What does he know? Is a financial crisis brewing?