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Forum Post: Read this objectively

Posted 12 years ago on Oct. 26, 2011, 2:56 a.m. EST by Lockean (671) from New York, NY
This content is user submitted and not an official statement

The 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of a “global public authority” and a “central world bank” to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises.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 ’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.

“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.

Asked at a news conference if the document could become a manifesto for the movement of the “indignant ones”, who have criticised global economic policies, * Peter Turkson, head of the _’s Justice and Peace department, said: “The people on Wall Street need to sit down and go through a process of discernment and see whether their role managing the finances of the world is actually serving the interests of humanity and the common good. “We are calling for all these bodies and organisations to sit down and do a little bit of re-thinking.”

Now replace "_" with "Vatican" and "*" with "Cardinal".

I don't think you have to be religious or love Catholicism to see this as pretty amazing. Condemning neoliberalism even - just, right fucking on.

6 Comments

6 Comments


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[-] 1 points by gnomunny (6819) from St Louis, MO 12 years ago

Although the Pope mentions Occupy Wall Street, I don't believe his proposal for a World Bank and universal currency are compatible with the goals of OWS. Although I may be wrong, my take on things, from what I've gathered on these sites, is they would favor elimination of the Fed and returning to the issuance of Treasury bills, i.e. a national currency. A lot of us in the know (I'm not speaking here of OWS) feel it would be a BAD idea to have a global currency. Many European countries are trying to remove themselves from the Euro in light of the recent debacle on the Continent. I, for one, favor US Treasury bills. Or did I completely miss your point? If I did, I humbly apologize.

[-] 1 points by Lockean (671) from New York, NY 12 years ago

Ok, a few points:

1.) End the Fed is definitely not an official OWS position.

2.) The vatican doesn't appear to be calling for a global currency

3.) The point is that the head of a church with almost a billion followers is agreeing with the basic grievances of OWS and our worldwide counterparts: The "idolatry" of markets, greed, and neo-liberalism in general.

4.) I don't think anyone would expect this to be taken seriously/literally (with the expecation it would actually happen as laid out) but it adds to the pressure for governments to address our concerns in a serious way.

[-] 1 points by gnomunny (6819) from St Louis, MO 12 years ago

You are right, ending the Fed is not an official OWS position although it is being bandied about quite a bit. To tell you the truth, I don't think OWS has any "official" positions just yet. It's all still in discussion stages. And I read that article you quote on a different website and may have misinterpreted the part about a global currency. As to point three, I agree wholeheartedly. Greed specifically has done incalculable damage to mankind and people need to rethink the worship of currency. However, there are many factions in this world that are indeed pushing for a world currency, something that I personally think would be a bad idea. Sorry for taking your post a bit out of context. It's late. I think I need to get some sleep. Getting delirious ;-)

[-] 0 points by thoreau42 (595) 12 years ago

If we can agree that power corrupts, then we should be able to agree that it should also not be consolidated.

I'm sure they have your best interest in mind, though.

[-] 1 points by Lockean (671) from New York, NY 12 years ago

See below.

[-] 1 points by thoreau42 (595) 12 years ago

Oh, don't take it seriously or literally. I missed that part.