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Vatican Calls for 'Central World Bank' to Be Set Up

Fubar

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interesting stuff.it says that this should be "music to the ears of ows movements around the world.what do u think? read the comments....very interesting.
 
It looks like the Vatican promotes the first rule of government. Rule #1 - when the government fails, then expand it and throw more money at the problem.

The government had the authority to prevent this crisis, but neglected their responsibility. While the Vatican is right, that we need to be wary of neo-liberal thinking, but they are wroing that implementing a Central World Bank is the answer. The probability that we can appoint benevolent dictators to these positions is low.

Neoliberals under the Clinton administration were heralding the efficiency of the markets and claimed that a handful of big financial banks would regulate themselves regarding opaque toxic derivative trading. However, the Vatican falls into this failed thinking that a handful of individuals have the power to correctly control and maintain economic stability via manipulation of the money supply. Central planning, especially on a global scale is doomed to fail. History is replete with examples, but unfortunately some people will not give up this quest.
 
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Another reason why religious leaders dont know **** about economics. Ive heard the Dali Lama say something similar that doesnt help anyone economically.
 
I always had a bad feeling about this pope and I am saddened that my fears have realized. I am a proud Catholic, not necessarily devout but there have been enough bad decisions and proclamations under this pope to be embarrasing.
 
why would any sovereign country have a problem with this aspect of the proposal [/s]:
"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."
 
Is the Vatican going to make the first deposit?
 
well, the good news is, that's one back I would camp outside and protest if it came to be.
 
I don't even understand why they think this would be a good idea. What do they think having a central world bank would accomplish? We've seen how much havoc can be caused with a European Central Bank...and that's just a regional bank among countries that already do a lot of trade with each other. Why would anyone want to export that problem to the rest of the world, and magnify it by including countries that are far more different from one another than, say, Greece and Germany are? I suspect that the Catholic Church doesn't have many economists onhand to tell them all the reasons this is a stupid idea.
 
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Old world thinking. We need something entirely new. The banking system as it is, is a dismal failure. Not surprised that an institution as archaic as the Vatican is suggesting something like this.

The day that there is a world bank is the day that I stop paying taxes of any kind.
 
A link to a translation of the entire document in question:

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

I agree with the Church in that the massive inequality inherent in the global financial system must be addressed. We are not called to get as much for ourselves as possible, we are called to help our fellow man. Decency, morality and ethics are sorely lacking from our financial institutions.
 
A link to a translation of the entire document in question:

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

I agree with the Church in that the massive inequality inherent in the global financial system must be addressed. We are not called to get as much for ourselves as possible, we are called to help our fellow man. Decency, morality and ethics are sorely lacking from our financial institutions.
Charlie Chaplin's Great Dictator's Final Speech - (Oct.1940) - YouTube
 
A link to a translation of the entire document in question:

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

I agree with the Church in that the massive inequality inherent in the global financial system must be addressed. We are not called to get as much for ourselves as possible, we are called to help our fellow man. Decency, morality and ethics are sorely lacking from our financial institutions.

Ah, the WWJD side of the argument. This is laughable, and shows the utter lack of understanding of biblical teachings to start with. Although Jesus was definitely on the side of helping your fellow man, he was not on board with doing such at the tip of a Roman spear.

j-mac
 
Ah, the WWJD side of the argument. This is laughable, and shows the utter lack of understanding of biblical teachings to start with. Although Jesus was definitely on the side of helping your fellow man, he was not on board with doing such at the tip of a Roman spear.

j-mac

I never invoked Jesus once in my argument, so I don't know exactly what is that you are responding to. Decency, morality and ethics ought to be the watchwords of all men, not just Christians.

The corporations and financial institutions certainly do not blanch at approaching lawmakers to craft legislation favorable to them, this in a government that ostensibly of, by and for the people. Why shouldn't the people do the same?
 
I never invoked Jesus once in my argument, so I don't know exactly what is that you are responding to. Decency, morality and ethics ought to be the watchwords of all men, not just Christians.

The corporations and financial institutions certainly do not blanch at approaching lawmakers to craft legislation favorable to them, this in a government that ostensibly of, by and for the people. Why shouldn't the people do the same?
When you say that income equality needs to be "addressed", I think most of us know what you're talking about.
 
Old world thinking. We need something entirely new. The banking system as it is, is a dismal failure. Not surprised that an institution as archaic as the Vatican is suggesting something like this.

The day that there is a world bank is the day that I stop paying taxes of any kind.

This institution is reputed to own the world's largest stock portfolio and then there is the Vatican Bank. The Catholic Church "business" is Corporate to insulate from liability. They've been banking for maybe 1400 years and perhaps they have considerable international control or influence in the industry. Fox and henhouse analogies seem pertinent on this issue.
 
Old world thinking. We need something entirely new. The banking system as it is, is a dismal failure. Not surprised that an institution as archaic as the Vatican is suggesting something like this.

The day that there is a world bank is the day that I stop paying taxes of any kind.

I had always heard that BIS, Bank of International Settlements in Basel, Switzerland, was sort of a World Central Bank. Treatied up so that it can always service both sides during wars would and perhaps does prevent old family money being lost when one picks the wrong side in a war. That would be the loser, not the side with moral righteousness. I think I heard it referred to as the Reserve Bank of Reserve Banks. Anybody have any more input on this?
 
I never invoked Jesus once in my argument, so I don't know exactly what is that you are responding to. Decency, morality and ethics ought to be the watchwords of all men, not just Christians.

The corporations and financial institutions certainly do not blanch at approaching lawmakers to craft legislation favorable to them, this in a government that ostensibly of, by and for the people. Why shouldn't the people do the same?

Success is measured in this country on the idea that you would have something that actually makes sense. A business is in existence to do what in your mind? Have a social component? or make money by offering a good or service that people want and demand?

j-mac
 
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