Knights Templar Banking
About Knights Templar Banking
The Knights Templar developed an early international banking system during the Crusades. Pilgrims could deposit gold at a Templar preceptory in Europe and withdraw it in the Holy Land using a letter of credit. The Templars became fabulously wealthy through donations, banking fees, and military activities. King Philip IV of France, deeply in debt to the Templars, had them arrested on Friday October 13, 1307, and charged with heresy. Many were tortured and burned at the stake. The destruction of the Templars eliminated a major financial rival. The association of Friday the 13th with bad luck may originate from the Templar arrests.
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