The Phaserl


Vatican Calls For ‘Central World Bank’ And ‘Global Authority’

by Baxter Dmitry, Your News Wire:

The Vatican has called 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of a “global public authority” and a “central world bank” to rule over financial institutions that have become outdated and often ineffective in controlling the masses.

A major document from the Vatican’s Justice and Peace department 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.

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.

“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.”

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9 comments to Vatican Calls For ‘Central World Bank’ And ‘Global Authority’

  • Paul Prichard

    The vatican should mind it’s own business – religion.

  • tomche

    “The vatican should mind it’s own business – religion.”

    I agree. You can also add, deceit, pedophilia, child trafficking, money laundering, control and racketeering.

    • Windrunner58

      I think that Religion is the least of their business plans. The other things “deceit, pedophilia etc. are more what they are focused on. Religion is clearly a diversion, a ruse. IMHO the Vatican is the most corrupt organization in the world. They have the largest wall protected by Swiss Guards (Rothschilds), beggars sit outside the wall (I have been there, seen it first hand), they are given nothing. The Vatican and their power structure is the head of the snake…..

      Disclaimer. I am agnostic. I do not worship the imaginary playmate in the sky. I don’t care either way about religion. It is a cult, it is to keep you in line…

  • Windrunner58

    BTW Sean, when I submit my comments of late I keep getting an “error 520” so I just keep resubmitting. The shutdown of opinion has begun me fears!

    • willygroper

      i’ve gotten that too until i cleared cache & cookies.

      Sean, what’s ur IP? they blocked ZH yesterday & that’s the only way I could get in.

  • Ed_B

    “The Vatican has called 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 controlling the masses.”

    Controlling the masses? Is that why they exist? Who wudda thunk? :-/

  • Bobby

    How about the VATICAN start by: a) A full (outside/international) audit of the corrupt Vatican “Bank”, b) Return ALL STOLEN assets (i.e. Gold and other loot) from various sources to their rightful owners, c) Sell ALL INTERESTS by the EVIL Jesuit Order in all corporations in all markets in all countries.

    That would be a good start herr Poop.

    • Bobby

      Oh, and d) Stop molesting and trafficking children for their evil / satanic purposes, and e) ADMIT THEIR ERRORS over the centuries especially the claim of “infallibility” (we are certain that lots of “failures” have occurred, so claiming infallibility is – well – FAIL!)

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