Table Of ContentTHE 
VATICAN 
E ;·lt?QSED 
A
"A captivating  history lesson ....  Paul Williams reveals in great 
detail the  hidden  relationship  of  the  Catholic  Church  and  the 
Mafia." 
Edward Lewis, 
Journalist, Wilkes-Barre, Pennsylvania 
"With the skill of a surgeon, Paul, with his easy readability and ever 
present wit, deftly cuts through  layers of tradition  and sanctimony 
tO expose a heart of truth . Since it is the truth  that sets us free, this 
book is a celebration of that freedom." 
Rev. Mary E Riggall, 
Northeast  Regional Director, 
Bible Times Ministries 
"The  shocking and riveting story about  the financial structure  of 
the  Catholic  Church .  A  must-read  for  Catholics  and  non 
Catholics." 
Daniel Gulbin 
Managing Editor,  The Metro 
Scranton,  Pennsylvania
@Prometheus  Books 
59 John Glenn  Ori.ve 
Amhe rst,  New  York 14228-2197
Published 2003 by Prometheus Books 
The Vatican :ExposedM: oney, M1wder,a nd the Mafia. Copyright© 2003 by Paul L. Williams. All 
rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or 
transmitted  in any form or  by any means, digital, electronic,  mechanical, photocopying, 
recording, or otherwise, or conveyed via the Internet or a Web site without prior written per 
mission of the publisher, except in the case of brief quotations embodied in critical articles and 
reviews. 
Inquiries should be addressed to 
Prometheus Books, 59 John Glenn Drive, Amherst, New York 14228-2197 
VOICE: 716-091-0133,  ext. 207; FAX: 716-564-2711 
WWW.PROMETHEUSBOOKS .COM 
07  06  05  04  03  5 4 3 2  l 
Library of Congress Cataloging-in-Publication Data 
Williams, Paul L., 1944-
The Vatican Exposed : money, murder, and the Mafia /  Paul L. Williams. 
p. cm. 
Includes bibliographical references and index. 
ISBN 1-59102-065-4  (alk. paper) 
l.  Papacy-History.  2. Vatican City-History.  I. Title. 
BX955.3 .W55 2003 
262'.13-clc21 
2002036856 
Printed in Canada on acid-free paper
CONTENTS 
Introduction.  Rags to Riches ...........................  9 
Chapter  One.  The Donation  of Mussolini  ........ .. .... . . 15 
Chapter Two. The Miracle of the Money ... . ...... . . .....  33 
Chapter Three.  Mammon  Triumphant  . ....... . .... . ... ..  41 
Chapter Four. The Formation  of the Vatican Bank .. .. ......  55 
Chapter Five.  Catholic Croatia and Nazi Gold .... .........  63 
Chapter Six.  Riches and Ratlines ................. .. .. .. . 73 
Chapter Seven.  Wealth beyond Measure ........... .. . . . ..  79 
Chapter Eight.  The Pink Pope . .. .... .. .. .. . . .. .... ... . 89 
> 
u, 
Chapter  Nine.  Montini's  Maelstrom .......... .. .........  95 
7 
t-
~ 
5
6  CONTENTS 
Chapter Ten.  Enter the Shark .... .. ... .. ............. . 103 
Chapter Eleven.  The Secret Society  ...... . ..... ... .....  111 
Chapter Twelve.  High Times, New Crimes  ..............  123 
Chapter  Thirteen.  The  Counterfeit  Church  ..............  131 
Chapter  Fourteen.  The Crash of Vatican, Inc .. ..... .. ....  141 
Chapter  Fifteen.  The Pope Must Die ...................  149 
Chapter Sixteen.  The Ambrosia.no Affair. ................  163 
Chapter  Seventeen.  In the Wake of the Storm  ............  173 
Chapter  Eighteen.  Business as Usual  ..... .... .. ... .....  181 
Chapter  Nineteen . A Fortress Impregnable .......... ... ..  189 
Epilogue.  And So It Goes .............. .. . ... .. ......  197 
Appendix A. A Chronological  List of the Popes ............  203 
Appendix B. The Lateran Treaty of 1929  ............. .. . 209 
Appendix C. The Concordat  between the Holy See 
and the German  Reich  ....................  223 
Notes  . .... .. .. .............. .. ..................  235 
Index  .. ... .......................... .. ..........  255
If anyone teachesf alse doctrines and  does not agree to 
the sound instruction  of our Lord Jesus Christ and to 
godly  teaching)  he  is  conceited  and  understands 
nothing. He has an unhealthy interest in controversies 
and  quarrels about words that  result in  envy) strife) 
malicious  talk)  evil suspicions and  constant friction 
between men of corrupt mind) who have been robbed of 
the truth  and  who think  that godliness is a means to 
financial  gain .  But  godliness  with  contentment  is 
great gain.  For we brought  nothing  into  the world) 
and we take nothing out of it. But if we have food and 
clothing) we will be content with that. People who want 
to get  rich fall  into temptation  and a trap and  into 
many foolish and harmful  desirest hat plunge men into 
ruin and destruction. For the love of money is a root of 
all kinds of evil. Some people) eager for  money) have 
wandered from  the faith  and pierced themselves with 
many griefs. 
1 Tim. 6:3-10
INTRODUCTION 
RAGS  TO  RICHES 
Now  when  he saw  the  crowds, Jesus went  up  on  a 
mountain-side  and  sat  down,  His  disciples came  to 
him,  and he began to teach them, saying: «Blesseda re 
the poor in spirit, for  theirs is the kingdom  of heaven. 
Blessed are those who mourn, for they will be comforted. 
Blessed are the meek, for  they will  inherit  the earth. 
Blessed are those who hunger  and  thirst for  righteous 
ness,f or  they will bef illed . Blessed are the merciful, for 
they will be shown mercy. Blessed are the poor in heart, 
for  they will see God. Blessed are the peacemakers, for 
they ·will be called the sons of God. Blessed are those who 
are persecuted because of righteousness,f or  theirs is the 
kingdom  of heaven. Blessed are yo1;wt hen people insult 
you,  persecute you  and  falsely  say all  kinds  of evil 
against you because of me. Rejoice and beg lad,  because 
9
10  INTRODUCTION 
great  is your  reward  in  heaven) for  in  the same  way 
they persecuted  the prophets 1vho were before you.)) 
Matt. 5:1- 12 
T
he seeming miracle occurred  on October  28, 312 C.E. Milti 
ades, a small, unassuming  man of sixty-two years, was sum 
moned  from his hiding place within a small house in an alleyway of 
the  Trastevere  district  of  Rome  by two  centurions.  The  old  man 
assumed  that he would  be hauled off to prison  as the leader of the 
Christian  movement- a  movement  that  had  been  deemed  religio 
illicita by the empire. The arrest was only to be expected. Miltiades 
would be tried and sentenced with his followers to a public execution 
so  that  the  Roman  populace  could  witness the  fate of those  who 
refused to make sacrifices to the gods of Rome. 
Miltiades,  who  wore  a  threadbare  robe  and  worked  in  the 
common  marketplace,  was the  bishop  of Rome,  a title that  led his 
fellow Christians to call him "papa"  or "father."  The first bishop of 
Rome, according to tradition,  had been the apostle Peter. Peter had 
been  singled  out  by  Jesus  to  establish  the  Church-tl1e  visible 
Kingdom  of God on earth. "Thou  art Peter,"  Jesus had said, "and 
upon  this rock (petrus)  I will build my Church  and the gates of hell 
shall not prevail against it"  (Matt.  16:18). 
Peter had established a Christian community in Rome, the center 
of the empire. The great apostle was crucified in 68 C.E.,  during  the 
reign of Nero.  Peter's  successor had been Linus, who, according  to 
tradition,  also died  a martyr.  Linus  was succeeded  by Anacletus, a 
Greek slave whose name  means "blameless."  Miltiades, who hailed 
from North Africa, was the thirty-second bishop of Rome. Few of his 
predecessors had died in bed. Some had  been cast to wild beasts in 
the arena; some hanged throughout  the countryside;  some set ablaze 
as human torches to light the public games. 
The  old  man  made  the  sign  of the  cross  and  prayed  for  the 
courage to merit a martyr's  crown. He followed the soldiers into the 
bright sunshine, only to behold tl1e Emperor  Constantine,  flanked by 
hundreds  of soldiers.