Vatican calls for the setup of a 'Central World Bank'

[Urine_Sample]

I don't like the sound of this as it calls for the establishment of "a supranational authority" with worldwide scope and "universal jurisdiction" to guide economic policies and decisions.

 

The Vaticancalled 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of a "global public authority" and a "central world bank" to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises.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 Vatican'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' date='" was at times very specific, calling, for example, for taxation measures on financial transactions.

 

....

 

http://www.chicagotr...0,3009511.story

 

http://blogs.reuters...-of-the-market/

 

http://www.cnbc.com/id/45013499

 

So then what would become of the Bank for International Settlements(the bank of central banks) and/or the World Bank and the IMF and their SDRs?

 

*tin foil hat*

 

I think what they are proposing sounds very bad. What I think would probably happen is that the BIS or World Bank/IMF would ''go global'' and control the monetary policy of all the countries in the globe, not just the nations within their current circles. The controlling banking institutions would have even more power than they do now and the United Nations & NATO would become very powerful as a result.

 

Would a Central World Bank solve the world's economic problems?

[jaie]

Who would give it money?