Capt Bringdown
11-02-2011, 09:03 AM
The Pontificate Council hopes to draw attention to economic disparity and several causes taken up by the Occupy Wall Street movement. (http://www.newsy.com/videos/vatican-calls-for-new-world-economic-authority/)
The now-worldwide Occupy Wall Street movement found an unlikely ally this week in the Catholic Church. MSNBC reports on Vatican City’s new plan for a world economic authority.
“The Occupy Wall Street movement is about to have a powerful friend who has some powerful friends above himself. That being Pope Benedict. Over the last few years, the pope has talked about the worsening global financial crisis, and tomorrow the Vatican will issue a statement of support of those same goals pushed by the Occupy movement. The church will call for reform, stronger regulations and a greater focus on people over profits.”
CNN reports that the Vatican’s 18-page proposal focuses on three main roles a new economic order would fill.
“For the first time, the Vatican has outlined what it sees as a moral fix for the problem of poverty: a proposal to create a new financial authority; including a global central bank and a new tax on global financial transactions.
But the thought of more regulation, especially coming from a worldwide organization, has plenty of U.S. pundits up in arms. A columnist for TIME Magazine writes:
“Those politicians who think the Dodd-Frank law went too far in attempting to reform Wall Street will likely need smelling salts after taking a look at a proposal for reforming the global financial system that was released by the Vatican ... Calling into question the entire foundation of neo-liberal economics and proposing one world financial order? You never know what those radicals over at the Pontifical Council for Justice and Peace will come up with next.”
- more - (http://www.newsy.com/videos/vatican-calls-for-new-world-economic-authority/)
The now-worldwide Occupy Wall Street movement found an unlikely ally this week in the Catholic Church. MSNBC reports on Vatican City’s new plan for a world economic authority.
“The Occupy Wall Street movement is about to have a powerful friend who has some powerful friends above himself. That being Pope Benedict. Over the last few years, the pope has talked about the worsening global financial crisis, and tomorrow the Vatican will issue a statement of support of those same goals pushed by the Occupy movement. The church will call for reform, stronger regulations and a greater focus on people over profits.”
CNN reports that the Vatican’s 18-page proposal focuses on three main roles a new economic order would fill.
“For the first time, the Vatican has outlined what it sees as a moral fix for the problem of poverty: a proposal to create a new financial authority; including a global central bank and a new tax on global financial transactions.
But the thought of more regulation, especially coming from a worldwide organization, has plenty of U.S. pundits up in arms. A columnist for TIME Magazine writes:
“Those politicians who think the Dodd-Frank law went too far in attempting to reform Wall Street will likely need smelling salts after taking a look at a proposal for reforming the global financial system that was released by the Vatican ... Calling into question the entire foundation of neo-liberal economics and proposing one world financial order? You never know what those radicals over at the Pontifical Council for Justice and Peace will come up with next.”
- more - (http://www.newsy.com/videos/vatican-calls-for-new-world-economic-authority/)