Niccolo Mainoni

People who defied or even slighted P2 met with violent ends. Very violent. That's after the break. As my conversation with Gerwin went on, I became increasingly disturbed. Here was yet another well-respected journalist who covered Calvi at the time, and here he was confirming the more conspiratorial parts of the story.

People who defied or even slighted P2 met with violent ends. Very violent. That's after the break. As my conversation with Gerwin went on, I became increasingly disturbed. Here was yet another well-respected journalist who covered Calvi at the time, and here he was confirming the more conspiratorial parts of the story.

I asked Erwin about the documents Tirona's men found in Gelli's office, the ones that included plans for a takeover of the Italian state.

I asked Erwin about the documents Tirona's men found in Gelli's office, the ones that included plans for a takeover of the Italian state.

Strategia della tensione. It meant that violence was at the heart of Jelly's plan. He wanted to destabilize the country through kidnappings, shootings, and mass arrests. Then, when people were looking for answers, P2-controlled media outlets would pump out propaganda about how nice it'd be to have a strong man fix everything.

Strategia della tensione. It meant that violence was at the heart of Jelly's plan. He wanted to destabilize the country through kidnappings, shootings, and mass arrests. Then, when people were looking for answers, P2-controlled media outlets would pump out propaganda about how nice it'd be to have a strong man fix everything.

Communist groups were staging student revolts and worker strikes, some of which turned violent. But what Gerwin is saying here is that some fascist groups, including possibly P2, planted terrorist attacks that they'd then blame on the communists.

Communist groups were staging student revolts and worker strikes, some of which turned violent. But what Gerwin is saying here is that some fascist groups, including possibly P2, planted terrorist attacks that they'd then blame on the communists.

And after Calvi became bank chairman, Jelly started regularly pressuring Calvi to fund some of his other P2 projects, propaganda projects to build on the P2 playbook.

And after Calvi became bank chairman, Jelly started regularly pressuring Calvi to fund some of his other P2 projects, propaganda projects to build on the P2 playbook.

With Calvi's help, Gelli filled the ownership board, the editorial board, and the writers' room with P2 members. From there, Jelly got Calvi to invest in foreign mining, construction, real estate, banking, even arms deals.

With Calvi's help, Gelli filled the ownership board, the editorial board, and the writers' room with P2 members. From there, Jelly got Calvi to invest in foreign mining, construction, real estate, banking, even arms deals.

One day, the Grand Master would ask for help with Saudi construction projects. Another day, he'd get Calvi to open a friendly Argentine bank. Each deal got Gelli closer to powerful leaders who shared his politics, at least his hatred of communism, Peron, Noriega, even Ronald Reagan. And it didn't seem to matter how many times Calvi helped Gelli.

One day, the Grand Master would ask for help with Saudi construction projects. Another day, he'd get Calvi to open a friendly Argentine bank. Each deal got Gelli closer to powerful leaders who shared his politics, at least his hatred of communism, Peron, Noriega, even Ronald Reagan. And it didn't seem to matter how many times Calvi helped Gelli.

There was always another request, always another quote-unquote business opportunity. So not that long after Calvi's promotion, Gerwin said he was losing millions, hundreds of millions of dollars. But rather than risk his precious job, Calvi covered up the losses.

There was always another request, always another quote-unquote business opportunity. So not that long after Calvi's promotion, Gerwin said he was losing millions, hundreds of millions of dollars. But rather than risk his precious job, Calvi covered up the losses.

So what does he do? Calvi built a financial network so big and so complex that no one, even inside his bank, could follow his moves and losses. A labyrinth of foreign banks and shell companies, all owned by the Ambrosiano in Milan.

So what does he do? Calvi built a financial network so big and so complex that no one, even inside his bank, could follow his moves and losses. A labyrinth of foreign banks and shell companies, all owned by the Ambrosiano in Milan.

Gurman helped me understand this was Calvi's greatest skill and also his downfall. He could take big debts and bad loans and, as if by magic, put them in his briefcase and make them disappear. But of course, debts don't disappear. Eventually, they have to be paid back. Throughout the 70s, Calvi would have the Ambrosiano borrow money from big banks around the world.

Gurman helped me understand this was Calvi's greatest skill and also his downfall. He could take big debts and bad loans and, as if by magic, put them in his briefcase and make them disappear. But of course, debts don't disappear. Eventually, they have to be paid back. Throughout the 70s, Calvi would have the Ambrosiano borrow money from big banks around the world.