Back in the 14th century the Christian world was divided between a series of French-backed popes in Avignon and the “official” pontiffs in Rome. It was a big deal at the time.
Some of these Avignon popes were considered fairly legitimate, while others were often termed antipopes. The so-called “Western Schism” lasted until 1417, and was the biggest issue dogging Christianity until some fella called Martin Luther nailed a wordy treatise to the door of a Wittenberg church a century later.
Why is Alphaville thinking about and banging on about the Avignon antipopes? Because of the current situation at the Federal Reserve, obvs.
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