The Roman and British "Second Empires"

Religion, Money, and the Worship of Power:
Throughout history, the most formidable empires have found ways to extend their influence long after their territorial control has faded. The Roman and British empires, two of the most powerful in history, provide striking examples of how global dominance can be maintained through different means—religion and finance—despite the decline of their military and political power. By examining the parallels between the Roman Catholic Church's role in the post-Roman world and the City of London’s dominance in the post-colonial British era, we uncover how these institutions have become centres of a new kind of worship: one rooted in power, control, and the love of money. However, both of these "second empires" have also suffered significant self-inflicted wounds—scandals that have undermined their authority and shaken their foundations.

The Roman Empire’s Second Coming

The Power of the Vatican:
The Fall of Rome and the Rise of the Church:The Roman Empire, once the unchallenged master of the Mediterranean world, began to crumble under the weight of internal strife, economic troubles, and external invasions. By the 5th century, the Western Roman Empire had collapsed, but its legacy endured, particularly through the Roman Catholic Church. As the empire’s political structures disintegrated, the Church stepped into the void, preserving and extending Roman influence through religion. Vatican City, established as the independent city-state at the heart of global Christendom, became the seat of this new power.

VATICAN CITY

The Spiritual Successor of Rome:
Vatican City, though geographically small, wields enormous influence as the headquarters of the Roman Catholic Church. This institution became the spiritual continuation of the Roman Empire, spreading its doctrines across Europe and eventually the world. As the spiritual leader, the Pope commanded a level of authority that could sway kings and emperors. The Church’s power was made visible through the construction of grand cathedrals—massive buildings designed to inspire awe and symbolise the Church’s dominance over spiritual and moral life.

Funding the Church’s Global Reach:
The Roman Catholic Church's ability to maintain and expand its global influence is bolstered by a vast and complex financial network. The Church is funded primarily through donations from Catholics worldwide, a practice known as Peter's Pence. These contributions, often viewed as acts of faith, provide a steady stream of income that supports the Church's activities, including its charitable works, missionary endeavours, and the maintenance of its extensive infrastructure.

In addition to donations, the Church benefits from interest and investments in its financial reserves, which are managed through institutions like the Vatican Bank. In some countries, Catholic parishes may also receive state funding, further bolstering their financial stability. The total assets of the Catholic Church worldwide are estimated to exceed $30 billion, not including the vast amounts of priceless art, land, gold, and investments stored by the Vatican. This immense wealth underscores the Church's ability to sustain its influence across the globe, making it one of the most powerful religious institutions in history.

The British Empire’s Second Coming

The Power of the City of London

The Decline of Empire and the Rise of Finance:The British Empire, like Rome, once ruled vast territories across the globe. However, the 20th century saw the gradual dissolution of this empire, particularly after World War II, as former colonies gained independence. Faced with the loss of its territorial empire, Britain’s ruling elite, centred in the City of London, adapted by transforming the country into a global financial hub. This shift marked the birth of Britain’s "Second Empire," one rooted not in land, but in money.

THE CITY OF LONDON

The Financial Capital of the World:
The City of London, much like Vatican City, operates as an independent entity with significant autonomy from the rest of the United Kingdom. Governed by the Corporation of London, the City became the epicentre of global finance, leveraging its historical expertise in banking and trade. Just as the Roman Catholic Church extended its influence through churches and cathedrals, the City of London spread its power through financial institutions, markets, and offshore tax havens—modern cathedrals dedicated to the worship of money.

Parallel Levers of Global Control: RELIGION AND FINANCE 

The Church and Cathedrals:  Worship of God: 
The Roman Catholic Church established itself as a global power by building vast cathedrals, which served as both places of worship and symbols of the Church’s authority. These structures, often the tallest and most impressive buildings in every town and city, were designed to direct people’s thoughts toward God and reinforce the Church’s moral and spiritual control. The Church’s teachings shaped laws, guided rulers, and influenced every aspect of daily life, making it a central pillar of society.

The Financial System and Skyscrapers:  Worship of Money: 
In the modern world, the financial system, with the City of London at its heart, has built its own symbols of power—skyscrapers that dominate the city skyline. These buildings, which house banks, financial institutions, and trading floors, are modern-day cathedrals where money is the object of worship. The financial system dictates economic policies, shapes global markets, and influences political decisions, just as the Church once did. The pursuit of wealth has become a central tenet of modern society, driving the actions of individuals, corporations, and governments alike.

The Role of Money in the Decline of the Roman Empire

Currency Debasement and Economic Decline:
The Roman Empire's decline was not just a result of external pressures and internal strife; economic mismanagement played a crucial role. One of the most significant factors was the debasement of the currency, particularly the silver denarius. As the empire expanded and its expenses grew, the Roman government began to reduce the silver content in its coins to stretch its resources. This practice led to widespread inflation, as the value of money diminished and prices soared.

Hyperinflation and Economic Collapse:
The debasement of the denarius caused hyperinflation, which, coupled with rising taxes, crippled the Roman economy. Trade, once the lifeblood of the empire, began to falter as merchants lost confidence in the currency. The economic instability eroded the Roman middle class and created widespread poverty, further weakening the empire's ability to defend itself against external threats. The resulting economic decline contributed to the collapse of the Western Roman Empire, demonstrating the destructive power of financial mismanagement.

Self-Inflicted Wounds: Scandals that Shook the Empires

The Roman Catholic Church and the Child Abuse Scandal:
One of the most devastating self-inflicted wounds for the Roman Catholic Church has been the widespread and systemic child abuse scandal. For decades, the Church has been embroiled in allegations and revelations of sexual abuse committed by clergy members against minors. These abuses, often covered up by Church officials, have not only caused immeasurable harm to the victims but have also severely damaged the Church's moral authority and credibility.

The scandal has led to a crisis of faith among many Catholics, significant legal and financial repercussions, and a tarnished global reputation. The Church, which once stood as a beacon of moral guidance, has been forced to confront its failures in protecting the vulnerable and addressing the sins within its ranks. This internal wound has left a lasting scar on the institution, challenging its ability to lead and maintain its influence in an increasingly secular world.

Brexit: A Crisis for the British Empire’s Financial Hub:
Similarly, the British Empire’s "Second Empire" has faced its own self-inflicted wound: Brexit. The United Kingdom's decision to leave the European Union has created significant economic and political turmoil, particularly for the City of London. As a global financial hub, the City had benefited immensely from being part of the EU, which provided access to a vast market, facilitated the free movement of capital, and attracted international banks and businesses.

Brexit, however, threatened to disrupt this status quo. The uncertainty surrounding the UK's future relationship with the EU led to a decline in investor confidence, with some financial institutions relocating operations to other European cities. The long-term consequences of Brexit remain uncertain, but it has undoubtedly weakened the City's position as a global financial centre and challenged the very foundations of Britain’s "Second Empire."

Common Traits

A Form of Religion:

Despite their differences, the Roman Catholic Church and the financial empire of the City of London share several common traits that elevate them to the status of "religions" in their respective contexts:

1. Global Reach and Influence:
   • The Roman Catholic Church spread its doctrines worldwide, influencing millions of people’s beliefs and actions. Similarly, the financial systems controlled by the City of London have a global reach, shaping economies, governments, and the lives of people across the globe.
2. Centralized Power:
   • Both Vatican City and the City of London operate as independent city-states with significant autonomy. Vatican City controls spiritual life, while the City of London controls financial life, both exerting influence over their followers (or participants) in a centralized manner.
3. Physical Symbols of Power:
   • Cathedrals and skyscrapers serve as physical manifestations of the power each empire wields. These structures are more than just buildings; they are symbols of the authority and influence these institutions hold over the masses.
4. Moral and Ethical Codes:
   • The Church promotes a moral code based on religious teachings, guiding behaviour and governance. The financial system, while ostensibly secular, promotes its own "moral code," one based on the pursuit of wealth, efficiency, and profit, often at the expense of traditional ethical considerations.
5. Rituals and Practices:
   • Religion has rituals—prayers, masses, sacraments. Similarly, the financial world has its own rituals—market openings, trading sessions, quarterly earnings reports—each performed with a sense of reverence and routine that parallels religious observance.

The Love of Money and Religion 

A Dual Worship?
The Bible famously states, "For the love of money is the root of all evil." This raises a provocative question when considering the parallels between the Roman Catholic Church and the City of London. While one ostensibly worships God and the other money, both systems demand devotion, command immense power, and shape the world in profound ways. The Roman Catholic Church has often been portrayed as a force for moral good, yet history is replete with instances where it has wielded its power to enforce conformity, suppress dissent, and amass wealth. Similarly, the financial systems built by the City of London have created immense wealth and opportunity but have also been responsible for economic inequalities, crises, and the exploitation of the vulnerable.

The Root of All Evil?
In the end, both the Roman Catholic Church and the financial systems of the City of London represent forms of worship—one of God, the other of money. The moral implications of these systems are complex and often contradictory. The Church, for all its teachings about love, charity, and humility, has at times acted in ways that are far from Christ-like. The financial system, while creating wealth and opportunity, has often done so in ways that perpetuate injustice and inequality.

The question, then, is not just which system is the true religion but also which one brings us closer to the good—or, conversely, to the evil. In a world where power, influence, and control are paramount, the lines between worshipping God and worshipping money become increasingly blurred. Perhaps the true measure lies in the outcomes of these systems: do they uplift humanity, or do they deepen its divisions? 

The Catholic Church's Wealth and Influence:
The Roman Catholic Church’s ability to sustain its global reach is heavily supported by its immense wealth. Beyond the spiritual devotion it commands, the Church is also a vast financial entity. The Church's financial power comes from several sources:

• Peter's Pence: This is a traditional donation from Catholics around the world, symbolizing their support for the Pope and his charitable initiatives. These donations are collected annually and contribute significantly to the Vatican’s finances.
• Investments and Assets: The Church has a vast portfolio of investments, managed through the Vatican Bank and other financial institutions. These investments include real estate, stocks, bonds, and other financial instruments. The Vatican also controls a significant amount of land globally, much of it prime real estate, adding to its financial clout.
• Priceless Art and Gold: The Church owns some of the world’s most priceless art collections, including works by Michelangelo, Raphael, and Leonardo da Vinci, housed in the Vatican Museums. It also holds substantial amounts of gold, which serves as both a symbol of its historical wealth and a financial reserve.
• State Funding: In some countries, Catholic parishes receive state funding, which supports their operations and charitable activities. This arrangement further solidifies the Church's financial stability.

The total assets of the Catholic Church worldwide are estimated to be more than $30 billion, not including the value of its art, land, and gold. This financial power enables the Church to maintain its influence and continue its mission across the globe.

The Legacy of Two Empires:
The Roman and British empires, through their respective "second empires," have demonstrated how power can be maintained through non-territorial means. The Roman Catholic Church and the City of London have become the spiritual and financial successors of their respective empires, wielding influence that transcends borders and shapes the modern world.

While one empire worships God and the other worships money, both systems command a deep devotion from their followers and have built global networks that continue to exert control over millions of lives. The parallels between these two "religions"—one of the spirit and one of wealth—highlight the complex ways in which power is maintained and the profound impact these institutions have on global society.

However, both empires have also inflicted significant damage upon themselves. The Roman Catholic Church’s child abuse scandal has eroded trust and shaken its moral foundations, while Brexit has undermined the City of London’s position as a global financial hub, threatening the very structure of Britain’s "Second Empire." These internal wounds reveal the vulnerabilities that come with immense power, reminding us that no empire, no matter how strong, is immune to collapse.

In the end, the question remains: which of these forms of worship brings us closer to the good, and which leads us towards the root of all evil? 

The answer may reveal not just what we worship, but who we truly are.