The Vatican called on Monday for the establishment of a "global public authority" and a "central world bank" to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises.

A major document from the Vatican's Justice and Peace department should be music to the ears of the "Occupy Wall Street" demonstrators and similar movements around the world who have protested against the economic downturn.

The 18-page document, "Towards Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority," was at times very specific, calling, for example, for taxation measures on financial transactions.

"The economic and financial crisis which the world is going through calls everyone, individuals and peoples, to examine in depth the principles and the cultural and moral values at the basis of social coexistence," it said.

It condemned what it called "the idolatry of the market" as well as a "neo-liberal thinking" that it said looked exclusively at technical solutions to economic problems.

"In fact, the crisis has revealed behaviors like selfishness, collective greed and hoarding of goods on a great scale," it said, adding that world economics needed an "ethic of solidarity" among rich and poor nations.

"If no solutions are found to the various forms of injustice, the negative effects that will follow on the social, political and economic level will be destined to create a climate of growing hostility and even violence, and ultimately undermine the very foundations of democratic institutions, even the ones considered most solid," it said.

It called for the establishment of "a supranational authority" with worldwide scope and "universal jurisdiction" to guide economic policies and decisions.

Such an authority should start with the United Nations as its reference point but later become independent and be endowed with the power to see to it that developed countries were not allowed to wield "excessive power over the weaker countries."

Effective Structures

In a section explaining why the Vatican felt the reform of the global economy was necessary, the document said:

"In economic and financial matters, the most significant difficulties come from the lack of an effective set of structures that can guarantee, in addition to a system of governance, a system of government for the economy and international finance."

It said the International Monetary Fund (IMF) no longer had the power or ability to stabilize world finance by regulating overall money supply and it was no longer able to watch "over the amount of credit risk taken on by the system."

The world needed a "minimum shared body of rules to manage the global financial market" and "some form of global monetary management."

"In fact, one can see an emerging requirement for a body that will carry out the functions of a kind of 'central world bank' that regulates the flow and system of monetary exchanges similar to the national central banks," it said.

The document, which was being presented at a news conference later on Monday, acknowledged that such change would take years to put into place and was bound to encounter resistance.

"Of course, this transformation will be made at the cost of a gradual, balanced transfer of a part of each nation's powers to a world authority and to regional authorities, but this is necessary at a time when the dynamism of human society and the economy and the progress of technology are transcending borders, which are in fact already very eroded in a globalizes world."

One World government. Another sign of the Apocalypse.

the Zombie one..??? 😕

No these are the vampires sucking away our freedom and treasure.

"In fact, the crisis has revealed behaviors like selfishness, collective greed and hoarding of goods on a great scale,"


Wonder if the Vatican would be willing to reveal (as a gesture of "ethic solidarity" and good faith to set this "supernatural" global order off on the right foot) just how much it's worldwide collective of properties, articles and antiquities, and total wealth actually adds up to in dollars. Or Euros, their choice.
Since, obviously, THEY would never be guilty of hoarding wealth and goods on a great scale. Oh no.


Something tells me they nominate the "Vatican's Justice and Peace department" to spear-head this super powerful "world authority".

Well it does have "justice" and "peace" right in its name. Who could argue that that doesn't sound wonderful?

You must hate Jesus and God or something. The hate is obvious. Shame.

Not at all, really.

I just find irony in the Vatican urging nations to "spread the wealth" more "fairly"...while the money spent on the Pope's silly hats alone could probably feed a family for a year or five. (For the bean counting Thread Gestapo...these figures are not put forth as real...but as a satirical observation. No fundamental Christians were injured in the making of this statement. 😰 )

speaking of Christians... has Obama killed the ones in Uganda yet..?? I've been out of touch and stuff.... 😟

I don't think so. I suspect it was all talk to curry favor with the Islamists that are taking over in Libya.

That's interpreted as hating around here. At least when I say stuff like that. You are safe from that, I think.

Not sure, Rush was on vacation last week and he's the expert.

That is because you have clearly established yourself as a hater.

Those wacky conspiracy theorists are sounding less crazy all the time...

ok..

Like who ?

HA !

This is why we have separation of church and state.

But you can't deny one fact:
If all the countries in the world were as giving as the Vatican, we'd be on a much better planet.

What do they give?


I don't hate catholicism serious question.


Though this call toa action makes me dislike them as much as Susan saranwrap.

Catholic Charities is the largest private relief program in the USA..

Speaking of Uganda, has anyone seen the new documentary about the drastic change in the social and political climates there? Some American missionaries are accused of having intentionally incited hate and violence. Others denounce what is happening there. Very interesting (for those who won't freak out), particularly because the interviews and conversations were all in English.