Pope Francis urges global leaders to end 'tyranny' of money

The Telegraph ^ | May 16, 2013 | Nick Squires

[E. Pluribus Unum]

Pope Francis has called on world leaders to put an end to the "cult of money"

He said free-market capitalism had created a “tyranny” and that human beings were being judged purely by their ability to consume goods.

Money should be made to “serve” people, not to “rule” them, he said, calling for a more ethical financial system and curbs on financial speculation.

[E. Pluribus Unum]

Countries should impose more control over their economies and not allow “absolute autonomy”, in order to provide “for the common good.”

I guess Francis didn't get the memo about socialist governments murdering more than 200 million of their own citizens since 1900 in the name of the "common good."

[stockpirate]

He states the position as to why I am NOT a Catholic

[mjp]

Money should be made to “serve” people, not to “rule” them, he said, calling for a more ethical financial system and curbs on financial speculation.

In a modern division of labor economy, the earning of money becomes an essential aspect of productive activity. This is because in order to live in such an economy, one must obtain the goods and services of other people. Those goods and services are not given away for free, nor, to any significant extent are they, or could they be, obtained through barter. To obtain the goods and services of others, one must possess money. Thus, if one's productive activity is to be appropriate to life in a division of labor society, that is, to be the means of obtaining the goods and services of others, it is essential that it be moneymaking. Only then, does one's activity make it possible for one to share in the benefits of a division of labor society.

[fwdude]

People get mad when I call him a Communist.

But the truth hurts.

[Da Coyote]

I know the pope means well, and I fully believe he is very moral and just man.

I also know that the pope has about as much ability to make economic judgements as does the Obamadork about making any judgement at all.

[fwdude]

The “pope” thereby proves himself to have absolutely NO IDEA what money is. Very similar to an Obama drone.

[Boomer One]

Seems like everyone in a top position wants to preach socialism, but always with someone else’s money. What you give to one person, you take from another, either directly (taxes) or indirectly (inflation). America has stood out by allowing people the opportunity to succeed, and I believe our citizens have benefited by that. I will grant the Pope one thing, and that is we create a false class based on wealth. However, Americans have long realized that class and money are not the same thing. Take away media coverage of the rich and most are hollow shells of humanity. But take away capitalism and the opportunity to succeed and we have two classes consisting of a small upper class of corrupt government officials and a very large lower class of poor. Which is better? And if capitalism is so bad, why have we contributed so much to poorer nations?

[wideawake]

More likely you didn't get the memo that the media lies.

This article is long on attribution, but short on actual quotes.

[BubbaJunebug]

Didn’t take him long to make that left turn..

[BitWielder1]

We have all been taught that greed is bad, but free market capitalism promotes ambition, which was still a good thing last time I checked.
Money, like any other tool, can be used wisely or unwisely.
I can think of no better social program than to let people work, earn a salary and choose for themselves how to spend it.
Any system that "redistributes" money without just compensation is THEFT. That is bad even for Catholics I thought.

[dainbramaged]

This garbage coming from a man who lives like a king - what are we supposed to use, wampum?
He probably would like to have the power of life and death over the masses, like the old days.

[DannyTN]

Anybody have a link to the popes' full remarks. It's hard to judge based on the sound bites. Not Catholic, I'm Baptist. But to play devil's advocate:

• I didn't see him call for socialism, only more control.
• There are at least two areas, I can think of where more control would definitely help:
• A lot of the 2008 banking crisis was caused by the repeal of Glass-Steagall and a lowering of standards so that our banks could compete with foreign banks at their lower standards. It was a mistake, we should have demanded that they play by our rules not us by them. Also so many exceptions to the bank reserve rates had been issued that the effective bank reserve rate ratio was 1%. That's why we had to have a bailout, because there was no room to lower the reserve rate ratio and release the liquidity run pressure on the banks. That and the lack of control over the banks use of credit default swaps. All of that lack of control contributed to the banking crisis.
• Our 23% unemployment is the result of lowering our trade import tariffs from the historical 15-20% to just 1%. It's definitely hurt the 23% unemployed (shadowstats.com), and it's hurt the rest of us as real wages have stalled and declined.

[Errant]

I’d guess he really does believe 1 Timothy 6:10.

[steve8714]

In other news, Neal Cavuto absolves sins.

[MEGoody]

Oh good grief. Maybe the Pope should be looking at the RC's "tyranny of money". They buy artworks and other useless paraphenalia when they could be feeding the poor.

Now please, don't get me wrong. I know the RC church does a lot for the poor. But if the Pope is going to go down this road, he'd better make some changes in how the RC manages it's own money first.

[C210N]

“pope” thereby proves himself to have absolutely NO IDEA what money is...

Exactly! Money is an individuals SWEAT! It is an individuals LABOR! Diminish it, and you enslave the INDIVIDUAL.

[Uncle Miltie]

Oh crap. We’ve got a socialist / communist as Pope.

This will not end well.

[nathanbedford]

Unchecked capitalism had created “a new, invisible, and at times virtual, tyranny”, said the former Cardinal Jorge Bergoglio.

I fear his holiness has confused "unchecked capitalism" with corrupt socialism. It is the loss of the rule of law and the loss of equality of opportunity, not capitalism, which leads to inequality of wealth.

Inequality in itself is not a bad thing but within limits a good thing. Without inequality there can be no incentive, no striving for improvement. Inequality is an indication of economic health, it reflects progress which must inevitably be uneven. Extreme inequality is almost always the result of government interference and corruption and it produces not just richer rich people but poorer poor people.

Inequality is not an evil if it means that the rich are richer while the poor are not poorer.

[E. Pluribus Unum]

I didn't see him call for socialism, only more control.

There has been plenty of control... by the Alinskyites.

We have a second subprime collapse coming, only this time it is in car loans, because banks are not allowed to deny car loans to black people.

I am not being hyperbolic.