(Liberty Nation)—The Catholic Archdiocese of Washington, DC, has announced broad layoffs and spending cuts that reflect ongoing fiscal struggles within the Catholic Church. Slowed church attendance during the COVID pandemic, an anemic economy, and scores of sex abuse claims against clergy have battered coffers. The archdiocese’s struggles in the nation’s capital mirror efforts to surmount challenges to faith as well as finances.
Fiscal Penance?
Dozens of US Catholic dioceses have filed for bankruptcy oversight due to sex abuse violations, which spiked after many states relaxed statutes of limitations to permit claims. With church attendance rebounding and most abuse cases settled, Catholic churches across the country seek to reconcile past transgressions with continuing service to the needy. Concurrently, future priest abuses may be better policed by state laws that compel clergy to report knowledge of sexual abuse, even if gained through the sacrament of confession.
Revelations that Catholic Relief Services was the top recipient of USAID funding, amounting to some $4.6 billion from 2013 to 2022, suggest that ancillary money to individual Catholic churches could take a fiscal hit, but the DC diocese has been struggling for years. In a June 5 letter announcing spending cuts including at least 30 layoffs, Cardinal Robert McElroy revealed the diocese has suffered losses of some $10 million annually for the past five years, which he attributed to “the financial impacts of the pandemic and the fallout of the [former cardinal and leader of the archdiocese Theodore] McCarrick scandal, coupled with an extended period of inflation and volatile financial markets.”
This diocese featured prominently in the priest abuse scandal. Former Cardinal McCarrick, who passed away in Missouri on April 3, was a notorious sex offender of young boys and seminarians. His pernicious behavior had been reported but suppressed for decades, a blow to trust in the clergy and to the Church’s finances. Had he not been installed as DC’s archbishop from 2001 to 2006, victim trauma and monetary awards could have been prevented. Many prominent Catholic clergy strongly opposed McCarrick’s ascension to the position. Still, he appealed to Pope John Paul II, claiming “in the 70 years of my life, I have never had sexual relations with any person, male or female, young or old, cleric or lay, nor have I ever abused another person or treated them with disrespect.” His flagrant denials persisted even after he was defrocked following a canonical trial.
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At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
