This is huge news towards a one world government.Vatican Calls for 'Central World Bank' to Be Set UpReuters| 24 Oct 2011 | 06:54 AM ET
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of a "global public authority" and a "central world bank" to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises.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. [Placing a tax upon transferring the fiat currency from one pocket to the other? There are taxes on what we buy with the fiat currency, there are taxes on the income that we receive when we get fiat currency, and there are taxes when we leave their fiat currency to our heirs. Their fiat currency has no intrinsic value, you can't eat it, you might be able to clothe yourself with it but there are far better materials for clothing. It would not make a great material for building a home out of. Other than as artwork it has no intrinsic value only that which we ascribe to it. Witness the fall of the world's fiat currencies. They aren't linked to anything of true intrinsic value. Governments print more of it at their will witness QE1 & QE2 (Quantitative Easing rounds one and two, i.e., printing money and devaluing the value of the existing currency in circulation). Taxing financial transactions upon phony paper is just bad as charging interest on it. Simply put it is a means to take from those who have more of the phony paper money and give it to the "global public authority." Feed the beast and it will grow.]
"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. [Hey maybe like the Vatican Bank? To be overseen by someone who is infallible in all his ways?]
Such an authority should start with the United Nations as its reference point but later become independent [independent of whom and accountable to whom?] and be endowed with the power to see to it that developed countries were not allowed to wield "excessive power over the weaker countries."
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 [perhaps like 10 of them? Daniel 7:24 KJV Revelation 17:12 KJV], 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."Copyright 2011 Thomson Reuters. Click for restrictions.