Vatican to call for global financial authority

Inquirer (Philippines) ^ | Wednesday, October 19th, 2011 | Agence France-Presse

[DeaconBenjamin]

VATICAN CITY—The Vatican on Wednesday said it was preparing a series of proposals for reforming the global financial system that would include the creation of a “public authority with universal competence.”

A document entitled “For a reform of the financial system through the perspective of a public authority with universal competence” will be presented on Monday by the Vatican’s Pontifical Council for Justice and Peace.

The council’s head, Ghanaian cardinal Peter Kodwo Appiah Turkson, will present it, the Vatican press office said without adding further details.

Pope Benedict XVI has repeatedly called for an “intervention” by governments to tame financial markets and has emphasized the need to restore a fragile global economic system that is hurting poorest people the hardest.

“The global financial crisis showed the fragility of the current economic system and of the institutions associated with it,” the pope said in April.

He said the crisis had also demonstrated “the mistake of continuing to think that the market is able to regulate itself without public intervention.”

[MNnice]

It appears the Pope’s a commie.

[G Larry]

and your solution for the European market crisis is......?

Don’t give us a bunch of garbage about the Vatican’s plan, tell us yours.

[Desdemona]

With all due respect, Your Holiness, as a Catholic in good standing, um, your expertise is faith and morals. It would be more helpful to teach, preach and write regarding how those who are money people can most morally go about their jobs in a free market with laws to protect property owners (just like Pope Leo XIII wrote in the 19th century). Without a global gold standard, anything else is just not going to treat money as anything more than a commodity no matter who is in charge.

[Conservativegreatgrandma]

Good grief, as if it isn't bad enough we have 535 amateurs in this country thinking they can micromanage our economy, now the Vatican thinks they can do it.

Deliver us from incompetence.

[Ken H]

Geez. Who died and made him Pope?

[John W]

Full Text: Note on financial reform from the Pontifical Council for Justice and Peace

http://www.radiovaticana.org/EN1/Articolo.asp?c=531752

[mitch5501]

bump for later read

[Ingtar]

Interesting, this. According to Malachy’s prophecies, this Pope will help to set the church on the road to being part of the one world government/church of the end times.

[mick]

Agreed, my fellow Catholic. Time for the Church to heed Our Lord’s dictum and render to Caesar what is Caesar’s and stay the hell out of these affairs !!

[Falcon4.0]

That's what we need.
Let's put ALL of the Money in the hands of a couple of people.
I'd like to be the first volunteer for that job.

[Alex Murphy]

VATICAN CITY—The Vatican on Wednesday said it was preparing a series of proposals for reforming the global financial system that would include the creation of a “public authority with universal competence.”

A document entitled “For a reform of the financial system through the perspective of a public authority with universal competence” will be presented on Monday by the Vatican’s Pontifical Council for Justice and Peace.

The council’s head, Ghanaian cardinal Peter Kodwo Appiah Turkson, will present it, the Vatican press office said without adding further details.

Pope Benedict XVI has repeatedly called for an “intervention” by governments to tame financial markets and has emphasized the need to restore a fragile global economic system that is hurting poorest people the hardest.

"...in the end, the final answer to the question of "So is the Pope above criticism? Is he infallible?" is "Shut up and kiss the ring." No one is permitted to question the Vicar of Christ's guidance. If he says that

- food and the access to water are a universal right of all humans,
- abandoning mechanisms of wealth redistribution will hinder the achievement of lasting development
- technologically advanced societies can and must lower their domestic energy consumption
- labor unions should expand their influence over those outside their membership, and beyond national boundaries,
- a reform of the United Nations Organization is necessary, likewise a reform of economic institutions and international finance, so that the concept of the "family of nations" can acquire real teeth.

as he did in his recent encyclical Caritas in veritate, you'll be expected to step aside and let the centralists and socialists take over. Your eternal salvation is in jeopardy if you don't go along with whatever he says, whenever he says it."
-- Alex Murphy, August 21, 2009

[Travis McGee]

Big, big mistake. Any problems in the current system would be made 1,000 times worse by creating a global central bank.

[SumProVita]

Something tells me that this article is NOT accurate.

[DeaconBenjamin]

Thank you. I guess if you support the creation of a governing world authority, as the Vatican states therein, the creation of an authority governing economic activity worldwide would be an appropriate preliminary step.

[ken5050]

You know, it’s funny..every time I think I’m about ready to swim the Tiber, and go from Anglican to RC, God intervenes..something like this appears, and I realize why I shouldn’t take the plunge..

[Last Dakotan]

Who is depicted on the coin?

[Venturer]

Amen.

His Church isn’t having enough problems, he has to get into International finance.

If this article has any truth in it, the Pope needs to rethink what his job is.

[mewzilla]

Pretty rich coming from the entity that’s amassed the wealth contained in the Vatican Museums.....

[Tribune7]

However, to interpret the current new social question lucidly, we must avoid the error – itself a product of neo-liberal thinking – that would consider all the problems that need tackling to be exclusively of a technical nature.

Gotta agree with him on this.