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🌊 How to Become a Pope
Vatican insiders tell us how the next Pope will be selected
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Pope Francis is currently hospitalized in Rome, facing pneumonia in both lungs and potential kidney failure. On Monday night, a Cardinal recited the Rosary on St. Peter’s Square, as was done when St. John Paul II was dying. Speculation is rife about who will succeed Pope Francis.
The process of choosing a Pope has been often politicized and caricatured, most recently in the Best Picture-nominated movie Conclave, which painted the papal selection process like something out of Game of Thrones. In today’s We The 66, we provide the full reality of papal elections and explain the massive implications of the next one.
By Max Towey
White smoke billowed into the rainy evening sky above St. Peter's Square on March 13, 2013.
Moments later, the soft-spoken Cardinal Jean-Louis Tauran stepped out onto the balcony. Before a sea of umbrellas, the cardinal announced, "Habemus Papam." We have a pope.
The crowd that braved the rain to pack the square erupted in cheers. Cardinal Tauran, his voice trembling from a decade-long bout with Parkinson's, then revealed the name of the cardinal who would become pontiff: Jorge Mario Bergoglio. This time, the crowd's cheers were scattered, confined to pockets of Argentinians and South Americans who jumped up and down, waving their nations’ flags. Everyone else in the square, however, seemed to ask in liturgical unison, "Who?"
With that, Cardinal Bergoglio – now Pope Francis – emerged from behind the scarlet drapes, looking surprised. It’s easy to understand why: He was an unlikely pick, the first Jesuit ever and first non-European to be elected pope in 1,300 years. Francis was also 76, making him the ninth-oldest pope to be elected in 2,000 years.
Plus, Francis didn't run for the position of pope; in fact, like his predecessor Pope Benedict XVI, he had run from it. Nevertheless, he had been chosen. Among the first words the world heard from his mouth were these: “Now I want to give a blessing. But I ask a favor. Please ask God to bless me.” And with that Pope Francis bowed and left.

Newly-elected Pope Francis speaking to the crowd that braved the rain, 2013
12 years later, Pope Francis’ health is ailing, and the Church – at a critical crossroads – may soon have to replace him. If the Pope passes, cardinals will soon gather in a phone-free sealed room to determine who will replace him.
In today’s deep-dive, we speak with Vatican insiders to understand what happens behind those closed doors, the politics of becoming a pope, and why the next election will be a particularly crucial – and potentially divisive – one for the Catholic Church.
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Editor’s Note
A correction on yesterday’s article: We miscalculated the value of the gold in Ft. Knox. It’s currently valued at $6.2B, not $11B. If revalued, would be worth $443B, not $750B. Our apologies – had the wrong numerator in our math. Thanks to Travis, a reader who pointed that out.
We received a diverse range of replies. Many readers want the gold revalued; many do not. For those who missed it, Ft. Knox’s gold is still valued at 1973 prices, 1.4% of those today. Our story examined why that’s the case and how Trump could change it.
Katherine, for example, wrote:
Tell those two hands off. 47 will start taking that gold for himself to make his crown.
While Karla replied:
When did it become acceptable to not assess something at its correct value? If that is now the case I can't wait to do my 2024 taxes.
And an unnamed reader wrote:
I hope Roca will listen to the experts on accounting. That is, the CPAs.
Concluding that recording the gold at Ft. Knox (and elsewhere in USG’s coffers) at today's gold price is the appropriate way forward is just dumb, shortsighted and demonstrates a clear lack of an ability to analyze a complex issue critically. Plain and simple.
If one was to do so, then 1) what happens when the price of gold falls to say, $2,000 per ounce and 2) should the rest of the USG’s assets and liabilities that are liquid (or semi-liquid) be recorded at a readily available (i.e., observable) market value?
Under question #1, if the price of gold falls to $2,000 per ounce in the next several months/years, should the USG should cut military spending, or/and social services, or/and SS benefits to reflect the $173B loss in value? The insanity around Fort Knox’s gold reserves should just stop. BTW-if the USG tried to sell all that gold, I assume the price would fall significantly…then what happens? Is the gold held by the USG worth the price it is now?
Leave the accounting to the CPAs and the USG should not CHERRY PICK the good stuff and IGNORE the bad stuff, or we all will pay the price down the road…even more than we already will.
Thank you all for reading. If you have thoughts or questions on today’s story, send them here.
We’ll see you tomorrow–
Max and Max