Vatican Calls for ‘Central World Bank’

Emblem of Vatican CityPhilip Pullella reports in Reuters:

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of a “global public authority” and a “central world bank” to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises. The document from the Vatican’s Justice and Peace department should please the “Occupy Wall Street” demonstrators and similar movements around the world who have protested against the economic downturn.

“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 behaviours 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.

More: Reuters

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  • Anonymous

    this should make the alex jones crowd very happy…

  • juepucta

    this should make the alex jones crowd very happy…

    • ChristianHypocrite

       and it should make the media-brainwashed crowd nod their heads

      • juepucta

        Do you really live in this false-dichotomy world where you either fight ‘the conspiracy’ or are one of ‘them’? Paranoia is not critical thinking.

  • Michaelanthony909

    This is appalling!

  • Michaelanthony909

    This is appalling!

  • Anonymous

    Dan Brown just won a bet.

  • Redacted

    Dan Brown just won a bet.

  • Aram Jahn

    The Great Minds at the Vatican have fingered – among other things – “greed” and “selfishness” among the bankers. 

    It’s good to see we’re making some sort of progress in getting at the radical (“root”) causes here.

  • Aram Jahn

    The Great Minds at the Vatican have fingered – among other things – “greed” and “selfishness” among the bankers. 

    It’s good to see we’re making some sort of progress in getting at the radical (“root”) causes here.

  • Simiantongue

    This just seems to go against any kind of common sense. When you build ever higher pyramids, the decisions made at the peak by very few have profound ramifications for the foundations.  Thus leading to a very unstable situation.

    Instead if you were to reduce the size of banks. Lets say for instance every state had one or a few publicly owned state banks. Like they do in North Dakota. That way if some CEO or bank administration adopts some bad policy it doesn’t shake the foundations of world banking it only affects that state bank. Each bank being an independently publicly owned entity that is.

    Now I know this is very simplistic and not an in depth description. What I’m trying to get across is that when you build huge entities like international banking conglomerates like the federal reserve and the IMF for example, and they make some very bad decisions. It endangers the entire damned planet. It also gives them huge amounts of control over what is done. The bigger the entity the more it lies beyond the reach of public control. Just imagine if you make and ultimate banking authority like this. It would be beyond the control of any government. For example, you can be involved in local government and business matters in your community. You as an individual can have some modicum of influence on what goes on in your community. However you would have less influence on county matters, and even less on state matters and even less on federal matters. At each level it makes the base more powerless to influence what’s going on. People who wish to make ever larger levels of authority know this. The further away from realistic levels of management the more empowered they are. I’m not arguing that this in itself is a bad thing, but it can be when people, who are just flawed humans after all, get access to ever larger amounts of money and incredible amounts of influence over everything. Then it becomes ever more critical that they make no mistakes. Or that they become corrupt. The maxim is “keep it simple stupid”.

    If you were to put caps on the size of publicly owned state banks who’s mandated interests are those of the people in the state. Really large states like California could have several or more publicly owned banks to make sure that they don’t get too big and have undue influence over other surrounding states that have maybe one bank. The goal mostly is to keep any damage from bad decision and immense amounts of decision making authority to a level where mistakes by any one or a few banks are not catastrophic. Now that’s stability.

    Not these giant pyramids made of cards. It’s like putting all your eggs in one basket. If that system should go bad then you’re totally fucked. We should be so lucky if the pyramids they propose had an “all seeing” eye on top too. But they never seem to. At best it’s an evolutionary predecessor to an eye which only sees very special interests, namely their own.  Demand that these assholes be cut down to size. A manageable size.

    Living along side these ever larger societal constructs feels more and more like living in the bottom of a damn pit. And not the cool kind of pit like in Army of Darkness either. Where you get a chainsaw for a hand and there are undead monstrosities and you get to kick ass, rattling of cliche’s like their witty and new again, while the crowd simultaneously screams for your demise and victory. Nothing like that. It’s just a deep, dark lonely pit.

  • Simiantongue

    This just seems to go against any kind of common sense. When you build ever higher pyramids, the decisions made at the peak by very few have profound ramifications for the foundations.  Thus leading to a very unstable situation.

    Instead if you were to reduce the size of banks. Lets say for instance every state had one or a few publicly owned state banks. Like they do in North Dakota. That way if some CEO or bank administration adopts some bad policy it doesn’t shake the foundations of world banking it only affects that state bank. Each bank being an independently publicly owned entity that is.

    Now I know this is very simplistic and not an in depth description. What I’m trying to get across is that when you build huge entities like international banking conglomerates like the federal reserve and the IMF for example, and they make some very bad decisions. It endangers the entire damned planet. It also gives them huge amounts of control over what is done. The bigger the entity the more it lies beyond the reach of public control. Just imagine if you make and ultimate banking authority like this. It would be beyond the control of any government. For example, you can be involved in local government and business matters in your community. You as an individual can have some modicum of influence on what goes on in your community. However you would have less influence on county matters, and even less on state matters and even less on federal matters. At each level it makes the base more powerless to influence what’s going on. People who wish to make ever larger levels of authority know this. The further away from realistic levels of management the more empowered they are. I’m not arguing that this in itself is a bad thing, but it can be when people, who are just flawed humans after all, get access to ever larger amounts of money and incredible amounts of influence over everything. Then it becomes ever more critical that they make no mistakes. Or that they become corrupt. The maxim is “keep it simple stupid”.

    If you were to put caps on the size of publicly owned state banks who’s mandated interests are those of the people in the state. Really large states like California could have several or more publicly owned banks to make sure that they don’t get too big and have undue influence over other surrounding states that have maybe one bank. The goal mostly is to keep any damage from bad decision and immense amounts of decision making authority to a level where mistakes by any one or a few banks are not catastrophic. Now that’s stability.

    Not these giant pyramids made of cards. It’s like putting all your eggs in one basket. If that system should go bad then you’re totally fucked. We should be so lucky if the pyramids they propose had an “all seeing” eye on top too. But they never seem to. At best it’s an evolutionary predecessor to an eye which only sees very special interests, namely their own.  Demand that these assholes be cut down to size. A manageable size.

    Living along side these ever larger societal constructs feels more and more like living in the bottom of a damn pit. And not the cool kind of pit like in Army of Darkness either. Where you get a chainsaw for a hand and there are undead monstrosities and you get to kick ass, rattling of cliche’s like their witty and new again, while the crowd simultaneously screams for your demise and victory. Nothing like that. It’s just a deep, dark lonely pit.

    • Tinytemper

      We are going to have to go local or face collapse.

      Local currencies, local economies, local laws.  Strong communities… it’s the only way.

      There will still be a place for globalization but it will have to take a backseat.  You don’t let the brain control all your organs, or there’ll be organ failure. 

      • Simiantognue

        That’s sounds interesting, local currencies. I’m trying to wrap my head around why that’s a good or bad. Maybe you can shoot something out real quick. My knowledge about economics is nil. Basically I’m coming from frustration here. I’m not holding tight to any of these ideas I’m throwing out. All I’m thinking is that the way we do it now, doesn’t seem very fair. Doesn’t seem very smart. My bud says it makes sense if you’re at the top of the heap. But I don’t know. If you’re pissing everybody else off to stay on top, they’ll only take so much of that “let them eat cake” happy crappy for so long. Sounds like a loosing strategy to me.

        • emperorreagan

          Local currencies basically encourage business to stay local – for people to recycle money in the community, for businesses to develop local supply chains, etc.  They’re generally still tied to the national currency by some sort of set exchange rate.

          It can be a good or bad thing.  It’s a bad thing if you’re stuck with company scrip, working for an abusive monopoly.  It can be a good thing if it’s like some of the projects throughout the US, probably the most famous of which is in Ithaca, NY.

        • ChristianHypocrite

          Local economic policies need to be brought in to keep communities vibrant.  Having a local money supply (I’m thinking gov-issued-fiat) is less susceptible to corruption than a federal supply.  Imagine every state, big city, and want-to community having it’s own currency.  No more outside meddling by wealthy foreigners.  “You want to do business in our community?  Then you’ll have to play by our rules.”  Franchising is great but the pyramid scheme needs to be smashed apart.  WalMarts and their ilk can still stay but funneling money out is a no-no… and we can stop that by having local ordinances which state things along the lines of: “You use our money in our community, and if you want to own a business here, you have to live here.”  We live in a time of economic feudalism and all of our ‘globalizing’ government solutions are only making it worse.  We need to reverse course, and fast.

  • Tinytemper

    We are going to have to go local or face collapse.

    Local currencies, local economies, local laws.  Strong communities… it’s the only way.

    There will still be a place for globalization but it will have to take a backseat.  You don’t let the brain control all your organs, or there’ll be organ failure. 

  • Simiantognue

    That’s sounds interesting, local currencies. I’m trying to wrap my head around why that’s a good or bad. Maybe you can shoot something out real quick. My knowledge about economics is nil. Basically I’m coming from frustration here. I’m not holding tight to any of these ideas I’m throwing out. All I’m thinking is that the way we do it now, doesn’t seem very fair. Doesn’t seem very smart. My bud says it makes sense if you’re at the top of the heap. But I don’t know. If you’re pissing everybody else off to stay on top, they’ll only take so much of that “let them eat cake” happy crappy for so long. Sounds like a loosing strategy to me.

  • http://buzzcoastin.posterous.com BuzzCoastin

    And Jesus went into the temple of God,
    and cast out all of them who sold and bought in the temple,
    and overthrew the tables of the moneychangers,
    and the seats of them that sold doves,

    And said unto them,
    It is written,
    My house shall be called the house of prayer;
    but ye have made it a den of thieves.
    Matthew 21:12-13

  • BuzzCoastin

    And Jesus went into the temple of God,
    and cast out all of them who sold and bought in the temple,
    and overthrew the tables of the moneychangers,
    and the seats of them that sold doves,

    And said unto them,
    It is written,
    My house shall be called the house of prayer;
    but ye have made it a den of thieves.
    Matthew 21:12-13

    • Monkey See Monkey Do

      Jesus had some good paraphrases didn’t he. Strange that.

  • emperorreagan

    Local currencies basically encourage business to stay local – for people to recycle money in the community, for businesses to develop local supply chains, etc.  They’re generally still tied to the national currency by some sort of set exchange rate.

    It can be a good or bad thing.  It’s a bad thing if you’re stuck with company scrip, working for an abusive monopoly.  It can be a good thing if it’s like some of the projects throughout the US, probably the most famous of which is in Ithaca, NY.

  • fivetonsofflax

    N.W.WOAH!

  • JohnFrancisBittrich

    N.W.WOAH!

  • DeepCough

    If this were to happen, expect an Italian named Petro Romano to be the head CEO.

  • DeepCough

    If this were to happen, expect an Italian named Petro Romano to be the head CEO.

  • http://www.facebook.com/profile.php?id=641984960 Elizabeth Caffey

    The Vatican wants more taxes? So they’d like to give up their own tax exempt status or they’d just like everyone else to fix the market?

  • http://www.facebook.com/profile.php?id=641984960 Elizabeth Caffey

    The Vatican wants more taxes? So they’d like to give up their own tax exempt status or they’d just like everyone else to fix the market?

    • GoodDoktorBad

      Vatican city is a sovereign nation. No income taxes are known to apply to them.

  • Anonymous

    Vatican city is a sovereign nation. No income taxes are known to apply to them.

  • Anti-Citizen1

    More giant centralized authority, I can’t see how that could possibly be a bad idea.

  • Anarchy Pony

    More giant centralized authority, I can’t see how that could possibly be a bad idea.

    • spec/ops ret.

      nothing to go wrong here.
      what makes you people think the people with the power are going to give it up?

  • Anonymous

    Centralisation is at the root of the problem. The Vatican’s solution would only exacerbate the situation.

  • Tchoutoye

    Centralisation is at the root of the problem. The Vatican’s solution would only exacerbate the situation.

    • http://www.facebook.com/people/Robert-Ene-M/100000045096244 Robert Ene M

      The Vatican are a bunch of assholes and they’re only trying to propose this because they know that there are a lot of people who are scared and hopelessly confused about what’s going on, and said people tend to look to the church for answers as it is. This is basically just another “Oh don’t worry, give us everything and we’ll take care of you… yeah… ‘take care of you.’ “

  • Frank W

    One Bank to rule them all,One Bank to find them,One Bank to bring them alland in the Darkness bind them.

  • Frank W

    One Bank to rule them all,One Bank to find them,One Bank to bring them alland in the Darkness bind them.

  • http://www.facebook.com/people/Robert-Ene-M/100000045096244 Robert Ene M

    The Vatican are a bunch of assholes and they’re only trying to propose this because they know that there are a lot of people who are scared and hopelessly confused about what’s going on, and said people tend to look to the church for answers as it is. This is basically just another “Oh don’t worry, give us everything and we’ll take care of you… yeah… ‘take care of you.’ “

  • Stumage

    Well that is rather blatant now, Isn’t it?

  • Stumage

    Well that is rather blatant now, Isn’t it?

  • ChristianHypocrite

    Local economic policies need to be brought in to keep communities vibrant.  Having a local money supply (I’m thinking gov-issued-fiat) is less susceptible to corruption than a federal supply.  Imagine every state, big city, and want-to community having it’s own currency.  No more outside meddling by wealthy foreigners.  “You want to do business in our community?  Then you’ll have to play by our rules.”  Franchising is great but the pyramid scheme needs to be smashed apart.  WalMarts and their ilk can still stay but funneling money out is a no-no… and we can stop that by having local ordinances which state things along the lines of: “You use our money in our community, and if you want to own a business here, you have to live here.”  We live in a time of economic feudalism and all of our ‘globalizing’ government solutions are only making it worse.  We need to reverse course, and fast.

  • ChristianHypocrite

    Local economic policies need to be brought in to keep communities vibrant.  Having a local money supply (I’m thinking gov-issued-fiat) is less susceptible to corruption than a federal supply.  Imagine every state, big city, and want-to community having it’s own currency.  No more outside meddling by wealthy foreigners.  “You want to do business in our community?  Then you’ll have to play by our rules.”  Franchising is great but the pyramid scheme needs to be smashed apart.  WalMarts and their ilk can still stay but funneling money out is a no-no… and we can stop that by having local ordinances which state things along the lines of: “You use our money in our community, and if you want to own a business here, you have to live here.”  We live in a time of economic feudalism and all of our ‘globalizing’ government solutions are only making it worse.  We need to reverse course, and fast.

  • ChristianHypocrite

    Local economic policies need to be brought in to keep communities vibrant.  Having a local money supply (I’m thinking gov-issued-fiat) is less susceptible to corruption than a federal supply.  Imagine every state, big city, and want-to community having it’s own currency.  No more outside meddling by wealthy foreigners.  “You want to do business in our community?  Then you’ll have to play by our rules.”  Franchising is great but the pyramid scheme needs to be smashed apart.  WalMarts and their ilk can still stay but funneling money out is a no-no… and we can stop that by having local ordinances which state things along the lines of: “You use our money in our community, and if you want to own a business here, you have to live here.”  We live in a time of economic feudalism and all of our ‘globalizing’ government solutions are only making it worse.  We need to reverse course, and fast.

  • ChristianHypocrite

    Local economic policies need to be brought in to keep communities vibrant.  Having a local money supply (I’m thinking gov-issued-fiat) is less susceptible to corruption than a federal supply.  Imagine every state, big city, and want-to community having it’s own currency.  No more outside meddling by wealthy foreigners.  “You want to do business in our community?  Then you’ll have to play by our rules.”  Franchising is great but the pyramid scheme needs to be smashed apart.  WalMarts and their ilk can still stay but funneling money out is a no-no… and we can stop that by having local ordinances which state things along the lines of: “You use our money in our community, and if you want to own a business here, you have to live here.”  We live in a time of economic feudalism and all of our ‘globalizing’ government solutions are only making it worse.  We need to reverse course, and fast.

  • ChristianHypocrite

     and it should make the media-brainwashed crowd nod their heads

  • ChristianHypocrite

     and it should make the media-brainwashed crowd nod their heads

  • ChristianHypocrite

     and it should make the media-brainwashed crowd nod their heads

  • ChristianHypocrite

     and it should make the media-brainwashed crowd nod their heads

  • Anti-Crowley

    Ah, the whore who rides upon the back of the beast shows her hand. 

    The woman was arrayed in purple and scarlet, and adorned with gold and jewels and pearls, holding in her hand a golden cup full of abominations and the impurities of her sexual immorality. And on her forehead was written a name of mystery:  “Babylon the great, mother of prostitutes and of earth’s abominations”

    Most of you may not believe in what the Bible says, but this prophecy is spot on.

  • Anti-Crowley

    Ah, the whore who rides upon the back of the beast shows her hand. 

    The woman was arrayed in purple and scarlet, and adorned with gold and jewels and pearls, holding in her hand a golden cup full of abominations and the impurities of her sexual immorality. And on her forehead was written a name of mystery:  “Babylon the great, mother of prostitutes and of earth’s abominations”

    Most of you may not believe in what the Bible says, but this prophecy is spot on.

  • Contra

    Anyone in the occupy movement who thinks this would be a good idea has no idea what they’re occupying for.

  • Contra

    Anyone in the occupy movement who thinks this would be a good idea has no idea what they’re occupying for.

  • Anonymous

    Do you really live in this false-dichotomy world where you either fight ‘the conspiracy’ or are one of ‘them’? Paranoia is not critical thinking.

  • Monkey See Monkey Do

    Jesus had some good paraphrases didn’t he. Strange that.

  • spec/ops ret.

    nothing to go wrong here.
    what makes you people think the people with the power are going to give it up?

  • Zakzac

    we already had the central bank once, and we still do, it just got renamed. it promises economic crashes over and over. the problem with any system is the fact that there is money behind it, and money is the root of all evil. I’m not religious, but it should be obvious by now that it’s proving to be true. people commit murder just to get their hands on it, they start wars with it and for it, and no one is ever happy with the amount they have, always want more and more. it’s like cocaine

  • Zakzac

    we already had the central bank once, and we still do, it just got renamed. it promises economic crashes over and over. the problem with any system is the fact that there is money behind it, and money is the root of all evil. I’m not religious, but it should be obvious by now that it’s proving to be true. people commit murder just to get their hands on it, they start wars with it and for it, and no one is ever happy with the amount they have, always want more and more. it’s like cocaine

  • emperorreagan

    I’m the Pope and I will gladly handle all of your money.

  • emperorreagan

    I’m the Pope and I will gladly handle all of your money.

  • emperorreagan

    I’m the Pope and I will gladly handle all of your money.

  • emperorreagan

    I’m the Pope and I will gladly handle all of your money.

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