8chan/8kun QResearch Posts (2)
#10996814 at 2020-10-09 14:53:06 (UTC+1)
Q Research General #14066: Gods Will Be Done for this Board This Day! Edition
VATICAN GAMBLED DONATIONS ON DERIVATIVES
by Jules Gomes - ChurchMilitant.com - October 9, 2020
Pope savages speculation hours after revelations of new scandal
VATICAN CITY (ChurchMilitant.com) - Pope Francis ranted against market speculation hours after the Financial Times revealed that the Vatican had invested donations for the poor to bet on the creditworthiness of now-bankrupt U.S. rental car company, Hertz.
The Vatican's Secretariat of State, under recently disgraced Cdl. Giovanni Angelo Becciu, used a ?528 million Vatican-donations portfolio to purchase credit default swaps (CDS) based on a gamble that Hertz would not default on its debts by April 2020.
A CDS is a financial derivative that allows an investor to swap or offset his or her credit risk with that of another investor. Derivatives are financial contracts whose value depends on the future price of an asset such as a share, a currency, a commodity or an index.
Because of the potential risks that derivatives entail and their potential impact on the volatility of spot markets, economists have described them as "wild beasts" and "weapons of mass destruction."
Derivatives, used primarily for hedging, can also spur speculation to the point of destabilizing markets and have spawned numerous bankruptcies.
The Vatican escaped by the narrow margin of a month and gained from its gamble, after Hertz filed for bankruptcy in May 2020 following the economic crisis created by the Wuhan pandemic.
While 16,000 employees lost their jobs, Hertz CEO Kathryn Marinello pocketed over $9 million in total compensation.
MORE AT LINK:
https://www.churchmilitant.com/news/article/vatican-gambled-donations-on-risky-derivatives
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#9235487 at 2020-05-19 07:32:05 (UTC+1)
Q Research General #11820: The 'The Chopping Block: Fake News Is Next!' Edition
>>9235486
Resignations in the news 5/18/2020 - part 2
IDC CFO Dlamini resign
https://www.engineeringnews.co.za/article/idc-cfo-dlamini-resigns-2020-05-18
New Mexico sheriff's deputy resigns after meth found in patrol car
https://nypost.com/2020/05/19/new-mexico-sheriffs-deputy-resigns-after-meth-found-in-patrol-car/
Carmel Unified School District superintendent to resign
https://www.montereyherald.com/2020/05/18/carmel-unified-school-district-superintendent-to-resign/
Bannock County Commissioner Steve Brown Resigns
https://www.bigcountrynewsconnection.com/news/state/idaho/bannock-county-commissioner-steve-brown-resigns/article_948214f8-54ac-5abc-8891-13691156cd48.html
Former CEO Walt Power resigns from board of South Shore Holdings
https://www.asgam.com/index.php/2020/05/19/former-ceo-walt-power-resigns-from-board-of-south-shore-holdings/
Gettysburg Foundation President Moen to Step Down
https://gettysburgconnection.org/gettysburg-foundation-president-moen-to-step-down/
State Secretary of Health Wiesman Resigning
https://www.kpq.com/state-secretary-of-health-wiesman-resigning/
Carroll County General Assistance Director Resigns In Lieu Of Termination
https://www.1380kcim.com/news/2020/carroll-county-general-assistance-director-resigns-in-lieu-of-termination/
Hathcock resigns as DHS principal
https://www.demopolistimes.com/2020/05/18/hathcock-resigns-as-dhs-principal/
Navy Cruiser Commanding Officer Fired After 4,000-Gallon Fuel Spill
https://www.military.com/daily-news/2020/05/18/navy-cruiser-commanding-officer-fired-after-4000-gallon-fuel-spill.html
Oakley mayor resigns during Zoom meeting, shares statement
https://www.ksn.com/top-stories/oakley-mayor-resigns-during-zoom-meeting-shares-statement/
Bell County JP Peters turns in resignation letter
https://kdhnews.com/news/breaking/bell-county-jp-peters-turns-in-resignation-letter/article_e6d67aac-9968-11ea-af93-af8f3bf50f08.html
UK Royal Mail CEO Rico Back forced to resign
https://www.wsws.org/en/articles/2020/05/18/rico-m18.html
UK cheerleading coaches fired following investigation involving hazing, alcohol use
https://www.wave3.com/2020/05/18/uk-cheerleading-coaches-fired-following-investigation-involving-hazing-alcohol-use/
Steinhoff Chairperson Heather Sonn has resigned
https://www.fin24.com/Companies/Retail/just-in-steinhoff-chairperson-heather-sonn-has-resigned-20200518
Rugby sevens: Sir Gordon Tietjens parts ways with Manu Samoa Sevens
https://www.newshub.co.nz/home/sport/2020/05/rugby-sevens-sir-gordon-tietjens-parts-ways-with-manu-samoa-sevens.html
UVM Extension Director to step down
https://www.wcax.com/content/news/UVM-Extension-Director-to-step-down-570585001.html?ref=001
ISU Health Center Director Ron Solbrig retiring, urges clientele to keep using center
https://www.idahostatejournal.com/community/isu-health-center-director-ron-solbrig-retiring-urges-clientele-to-keep-using-center/article_223775cf-7956-56bd-8321-f9d040bd5147.html
Mayor and deputy resign from Northallerton Town Council
https://www.thenorthernecho.co.uk/news/18455682.no-confidence-motion-northallerton/
Hertz names Paul Stone CEO, replacing Kathryn Marinello, who is resigning
https://www.marketwatch.com/story/hertz-names-paul-stone-ceo-replacing-Kathryn-Marinello-who-is-resigning-2020-05-18?mod=mw_latestnews&tesla=y
East Devon District Council leader Ben Ingham RESIGNS - along with cabinet of Independent Group colleagues
https://eastdevonnews.co.uk/2020/05/18/east-devon-district-council-leader-ben-ingham-resigns-along-with-independent-group-cabinet-colleagues/