History Daily: The Mysterious Death of “God’s Banker”
Episode Release Date: June 18, 2025
In this riveting episode of History Daily, host Lindsay Graham delves into the enigmatic and tragic demise of Roberto Calvi, infamously known as “God’s Banker.” Set against the tumultuous backdrop of early 1980s Italy, the episode meticulously unpacks the intricate web of financial corruption, organized crime, and political intrigue that ultimately led to Calvi’s mysterious death.
1. The Discovery of a Mystery
June 18, 1982, London, England.
The episode opens with a vivid recounting of the morning Roberto Calvi’s body was discovered beneath Blackfriars Bridge in London. At [00:00], Graham paints a stark image:
Lindsey Graham (00:00): “As the boat gets closer, the officer waves his hand, directing the pilot to slow down... The dead man is half submerged in the river and the expensive suit he's wearing is glistening and sodden.”
Calvi’s apparent suicide sent shockwaves through both the financial world and the public, sparking immediate suspicions among those who knew his influential position and controversial activities.
2. Unveiling Roberto Calvi
Moving back to [03:35], Graham provides a comprehensive background on Calvi:
Roberto Calvi was the chairman of Banco Ambrosiano, Italy's second-largest bank, and a pivotal figure linked to the clandestine Propaganda Due (P2), a secret Masonic lodge implicated in numerous Italian scandals. Calvi’s deep ties with the Vatican Bank earned him the moniker “God’s Banker,” highlighting his significant influence within both financial and religious spheres.
3. Rise and Fall of Banco Ambrosiano
By [10:47], the narrative intensifies as Graham details Banco Ambrosiano’s decline:
Calvi had been embroiled in illegal currency trading and was suspected of funneling money to the Mafia and corrupt politicians. In May 1981, Italian authorities raided Liccio Gelli’s villa—a key figure in P2—and uncovered evidence linking Calvi to a broader conspiracy involving high-ranking officials and criminal elements.
Despite Calvi’s attempts to stabilize the bank, his efforts were thwarted by relentless pressure from the Mafia and mounting public distrust. The bank's stock plummeted, and a 20% drop in a single day signaled impending disaster.
4. The Night of June 18, 1982
At [17:35], Graham recounts the final days leading up to Calvi’s death:
On June 5, 1982, facing insurmountable pressure and fearing the collapse of Banco Ambrosiano would implicate the Vatican Bank in his illicit dealings, Calvi penned a desperate letter to Pope John Paul II. When his entreaties went unanswered, he fled Italy using a forged passport, ultimately finding himself in London.
Tragically, on June 18, 1982, just days after his departure, Calvi was found hanging beneath Blackfriars Bridge. While British authorities ruled it a suicide, numerous inconsistencies—such as the presence of heavy bricks in his pockets and the absence of typical hanging injuries—fueled widespread doubt and conspiracy theories.
5. Lingering Questions and Investigations
Graham emphasizes the unresolved nature of Calvi’s death:
Lindsey Graham (17:35): “Roberto did not commit suicide. He was murdered. It will take years for Jeff Katz to persuade British and Italian prosecutors to reopen the case.”
Efforts to exhume Calvi’s body in December 1998 revealed forensic evidence suggesting foul play, including the absence of signs consistent with suicide. Despite these revelations, prosecutions faltered, and key suspects like Liccio Gelli evaded conviction, leaving the true circumstances of Calvi’s death shrouded in mystery.
6. The Enduring Enigma
Concluding the episode, Graham reflects on the lasting impact of Calvi’s demise:
Roberto Calvi’s death remains one of Italy’s most perplexing mysteries, symbolizing the perilous intersection of finance, politics, and organized crime. The episode underscores how Calvi’s fall not only led to the collapse of Banco Ambrosiano but also exposed the deep-seated corruption that permeated Italian society during that era.
Lindsey Graham (Final Segment): “The exact fate of God’s banker is as much a mystery now as it was when his body was first discovered hanging from Blackfriars Bridge in London...”
Conclusion
History Daily masterfully chronicles the tragic story of Roberto Calvi, blending historical facts with investigative intrigue to illuminate the complexities surrounding his mysterious death. For listeners fascinated by financial scandals, organized crime, and unsolved mysteries, this episode offers a compelling deep dive into one of Italy’s most notorious cases.
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