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Pope Francis urges global leaders to end 'tyranny' of money

Pope Francis has attacked the dictatorship of the global financial system and warned that the cult of money was making life a misery for millions.

Pope Francis has called on world leaders to put an end to the "cult of money" Photo: REUTERS
By Nick Squires, Rome
3:25PM BST 16 May 2013 671 Comments
He said free-market capitalism had created a tyranny and that human beings were being judged purely by their ability to consume goods.
Money should be made to serve people, not to rule them, he said, calling for a more ethical financial system and curbs on financial speculation.
Countries should impose more control over their economies and not allow absolute autonomy, in order to provide for the common good.
The gap between rich and poor was growing and the joy of life was diminishing in many developed countries, the Argentinian Pope said, two months after he was elected as the successor to Benedict XVI.
While the income of a minority is increasing exponentially, that of the majority is crumbling, said Francis, who as archbishop of Buenos Aires visited slums, opted to live in a modest flat rather than an opulent Church residence and went to work by bus.
In poorer countries, peoples lives were becoming undignified and marked by violence and desperation, he said. Francis made the strongly-worded remarks in his first major speech on finance and the economy, during an address to foreign ambassadors in the Vatican. It underlined a reputation he has established in the last two months for showing deep concern for the plight of the poor and vulnerable. The worship of the golden calf of old has found a new and heartless image in the cult of money and the dictatorship of an economy which is faceless and lacking any truly human goal, Francis told the ambassadors. As the leader of the Roman Catholic Church in Argentina, he often spoke out about the plight of the poor during the countrys economic crisis. Unchecked capitalism had created a new, invisible, and at times virtual, tyranny, said the former Cardinal Jorge Bergoglio. The Pope loves everyone, rich and poor alike, but the Pope has the duty, in Christs name, to remind the rich to help the poor, to respect them, to promote them, he said. Francis will make the first foreign trip of his papacy to Brazil in July, during which he will visit a slum in Rio de Janeiro and meet young prison inmates. He will attend World Youth Day, a week-long event which is expected to attract more than two million people.
www.telegraph.co.uk.
May 23rd 2013 new
Great post, Bernard! Sad that it's gotten so little attention on this forum, yet hardly surprising. People here have said the same thing but have been called socialists by a lot of the mean-spirited people who post on here. They're quick to preach about what the Catholic Church teachers except when Catholic teaching contradicts they're own ideology.

Back to the topic at hand, yes, capitalism in its current form is a tyranny of money. There's people out there with limousines, private jets, billion dollar mansions while right in their own back yard are people who have lost their homes, their jobs, and living in slums. This is not a fair system and it needs to change. The people who have the least are owed the same level of dignity as the wealthiest billionaires in the world, as we are all made in the image and likeness of God.
May 23rd 2013 new
Once again Pope Francis makes me ecstatic to be Catholic laughing biggrin

He manages to walk the line between responsible Capitalism and Socialism as was laid down in Pope Leo XIII's Rerum Novarum. He attacks exactly what's wrong with unbridled Capitalism w/o advocating Socialism faint It's not easy to do, but he does it. The only unanswered question is How? scratchchin I've proposed to some family members (who are viciously Capitalist) a few solutions (e.g. impose some upper limits and parity on the economy), and they always condemn the suggestion as socialist irked even though it retains rights to ownership, acquisition of wealth, and incentivizes hard work. All it would do is limit the rate at which wealth is acquired, level the negotiation field, and incentivize working in the "right" field instead of the most lucrative eyebrow

I hope Pope Francis can show us how to end the 'tyranny' of money without resorting to Socialism.
May 24th 2013 new
(quote) Travis-390186 said: Once again Pope Francis makes me ecstatic to be Catholic

He manages to walk the line between responsible Capitalism and Socialism as was laid down in Pope Leo XIII's Rerum Novarum. He attacks exactly what's wrong with unbridled Capitalism w/o advocating Socialism It's not easy to do, but he does it. The only unanswered question is How? I've proposed to some family members (who are viciously Capitalist) a few solutions (e.g. impose some upper limits and parity on the economy), and they always condemn the suggestion as socialist even though it retains rights to ownership, acquisition of wealth, and incentivizes hard work. All it would do is limit the rate at which wealth is acquired, level the negotiation field, and incentivize working in the "right" field instead of the most lucrative

I hope Pope Francis can show us how to end the 'tyranny' of money without resorting to Socialism.
Travis, unfortunately many people aren't willing to think outside the box. The best I can think of are Germany and the Scandinavian countries (ie. Denmark, Sweden, Norway, Finland). Whenever many of the narrow-minded folk mention the problems of European economies, they mention Greece, but neglect the fact that Germany and Scandinavia have high taxes, extensive social welfare policies (no one has to pay to go to college, parents get child care covered, maternity and paternity leaves are available to help families raise children), yet they also have balanced budgets and low levels of debt. And they have far bigger government than Greece does.

And most importantly, Germany and Scandinavia have free enterprise economies that retain ownership/private property, acquisition of wealth, and a hard working population.

I think what needs to happen is a rethinking of the idea that government is inherently bad.
May 24th 2013 new
(quote) John-221057 said: Great post, Bernard! Sad that it's gotten so little attention on this forum, yet hardly surprising. People here have said the same thing but have been called socialists by a lot of the mean-spirited people who post on here. They're quick to preach about what the Catholic Church teachers except when Catholic teaching contradicts they're own ideology.

Back to the topic at hand, yes, capitalism in its current form is a tyranny of money. There's people out there with limousines, private jets, billion dollar mansions while right in their own back yard are people who have lost their homes, their jobs, and living in slums. This is not a fair system and it needs to change. The people who have the least are owed the same level of dignity as the wealthiest billionaires in the world, as we are all made in the image and likeness of God.
wide eyed After only 49 posts, you seem to be painting with a very broad brush when you say "..people have been called socialists by a lot of the mean-spirited people who post on here who are quick to preach about what the Catholic Church teaches except when Catholic teaching contradicts they're own ideology"

Not sure what else to say, except wide eyed again


May 25th 2013 new
(quote) Wendy-387654 said: After only 49 posts, you seem to be painting with a very broad brush when you say "..people have been called socialists by a lot of the mean-spirited people who post on here who are quick to preach about what the Catholic Church teaches except when Catholic teaching contradicts they're own ideology"

Not sure what else to say, except again


I do read posts even if I don't respond to them, and some people on here have been less then polite when they disagree. But I don't want to name anyone specifically in order to keep things civilized.
May 25th 2013 new
Yes...the cult of usury is destroying this country and has destroyed many others. Read about the American system of political economy and discover the real alternative to Anglo-American liberalism. Argentina used to be one of the wealthiest countries in the world until the savage monsters of Wall Street and London reduced that country to the brink of despair. Adam Smith, Jeremy Bentham, John Stuart Mill and all the other crackpots of liberal economics should be thrown into the trash bin of history.

Do we want to live in an agro-industrial economy dedicated to the betterment of the general welfare? Or do we want to serve the occult, pagan gods of usury?
May 25th 2013 new
Don't put upper limits on anything...just make sure that the monetary power of a nation is being directed toward development and not speculation.
May 25th 2013 new
(quote) John-221057 said: I do read posts even if I don't respond to them, and some people on here have been less then polite when they disagree. But I don't want to name anyone specifically in order to keep things civilized.
Happy Birthday John! Happy Birthday! wave
May 26th 2013 new
(quote) Sean-851370 said: Yes...the cult of usury is destroying this country and has destroyed many others. Read about the American system of political economy and discover the real alternative to Anglo-American liberalism. Argentina used to be one of the wealthiest countries in the world until the savage monsters of Wall Street and London reduced that country to the brink of despair. Adam Smith, Jeremy Bentham, John Stuart Mill and all the other crackpots of liberal economics should be thrown into the trash bin of history.

Do we want to live in an agro-industrial economy dedicated to the betterment of the general welfare? Or do we want to serve the occult, pagan gods of usury?
I guess in your mind it wasn't Peron, both Juan and Evita, the dictators, who had nothing to do with Argentina's economic destruction.

As the old saying goes, those who ignore history .... !!

So lets fight the phantoms of Wall Street conspiracies.
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