Vatican Calls for 'Central World Bank' to Be Set Up
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of a "global public authority" and a "central world bank" to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises.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."
The Pontifical Council for Justice and Peace calls for a new global authority, noting that nations must give up their sovereignty and hand it over to this new world authority.
The Vatican calls for nations to submit to a world government to manage global finance, forgoing national interests.
The document that was released October 24th is called, “Towards reforming the international financial and monetary systems in the context of a global public authority.”
The Vatican hopes to add it’s two cents to the up-coming G-20 summit, focusing on the global monetary system. Bishop Mario Toso, S.D.B., Secretary of the Pontifical Council for Justice and Peace comments to the media, stating:
“propose a reflection on possible ways forward–in line with the most recent social Magesterium–that are effective and representative at a global level, and which seek the authentic human development of all individuals and peoples,”
The document notes that between 1900 and 2000, the earth has populated fourfold and the rapid increase of wealth has not been distributed fairly around the world leaving a gap between the rich and the poor.
The document blames economic liberalism, utilitarianism and technocracy for the worldwide financial crisis. The document explains:
The inequalities and distortions of capitalist development are often an expression not only of economic liberalism but also of utilitarian thinking: that is, theoretical and practical approaches according to which what is useful for the individual leads to the good of the community. This saying has a core of truth, but it cannot be ignored that individual utility – even where it is legitimate – does not always favor the common good.
The council writes how Pope John XXIII stated in his 1963 encyclical “Pacem in Terris” (Peace on Earth) that one day “a true world political authority” would be created.
“A supranational Authority of this kind should have a realistic structure and be set up gradually,” it says.
However it warns that “an Authority with a global reach that cannot be imposed by force, coercion or violence,” but only through “free and shared agreement” on the needs of “the world common good.”
The council, in keeping with the principals of subsidiary believes that problems should always be dealt locally first unless “individual, social or financial actors are intrinsically deficient in capacity, or cannot manage by themselves to do what is required of them.”
The Pontifical Council realizes “a long road still needs to be traveled before arriving at the creation of a public Authority with universal jurisdiction,” and suggests the reform or enhancing of present institutions such as the United Nations, International Monetary Fund or European Central Bank could be a good place to start.
The Council stresses a global power is needed for global problems:
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 globalized world.
The Vatican admits that is must be a gradual change-over and that it will take time to have world government and concludes the document stating,
“time has come to conceive of institutions with universal competence, now that vital goods shared by the entire human family are at stake, goods which the individual States cannot promote and protect by themselves.”
Sources: catholic culture, CNA
My Comment:
We are headed into world government, with the approval of the Vatican. Even Catholics are starting to see the writing on the wall. It is evident reading their posts to articles. They know it’s wrong and don’t know how to choose what is right. There is only one way: to renounce the Pope, the Vatican and their wicked plans and adhere to the Gospel. Choose Jesus and release the chains that bind you to a church leading you into Babylon full steam ahead.
The Vatican knows world government needs to be introduced slowly, like the boiling of a frog. Before you know it, the world will be entrenched with the Pope leading the world religion and the United Nations composing international laws that trump the sovereignty of nations. “How did we get here?” people will ask.
Even now, the Vatican backs Occupy Wall Street.
No matter that China and Iran also support it. You see, it’s all coming together. Those who are not born again simply do not have the eyes to see. Lucifer’s kingdom is being set up and those who are his will support this kingdom. Believers will never support it, we know His kingdom is not of this world.
We patiently wait and pray, crying out the Lord, Maranatha!! Come Lord Jesus! We believe. There is One King and we look to the heavens with anticipation.
Written by Sue
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