Vatican: "Supranational authority" needed to guide world finance

The paper—bearing the lengthy title, “Toward Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority”—does not carry the force of a papal bull or require the obedience of faithful Roman Catholics, but it does closely follow the principles expressed in Pope Benedict XVI’s 2009 speech concerning the current financial calamities engulfing the world’s economies.

As reported by Reuters the day it was published, the Vatican document “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.”  The Reuters article continues:

“It called for the establishment of ‘a supranational authority’ with worldwide scope and ‘universal jurisdiction’ to guide economic policies and decisions. Such an authority should start with the United Nations as its reference point but later become independent and be endowed with the power to see to it that developed countries were not allowed to wield ‘excessive power over the weaker countries.’”

The paper calls for the creation of a centralized “world bank”—much like the U.S.’s Federal Reserve System—that would be supported by global taxes on financial transactions.  According to the Catholic News Service article on the paper, the global bank could be used to ensure that banks are recapitalized in a manner conditioned on “virtuous” behavior.

Noting the implications of the document’s recommendations, the Washington Post commented: “Ultimately, the plan would help establish a ‘world political authority’ envisioned by Popes John XXIII in 1963 and Benedict XVI in 2009. That body would have international governance on arms control, migration, food security, and environmental protection.”

Of necessity, plans for economic control would move far beyond purely economic matters!

It is not unusual for the Roman Catholic Church to seek influence in matters that may represent social concerns on the surface but have religious and doctrinal motivations beneath.  In 2008, the Commission of the Bishops’ Conferences of the European Community (COMECE) pressed for the political protection of Sunday as a day of rest, not as a religious matter, but as a human rights issue—a move also prompted by the financial crisis.

Those who think of such pronouncements and publications as merely toothless proclamations of a religious institution struggling to stay relevant are deceived!  The Roman Catholic Church remains one of the most powerful and influential organizations in the world, and one of the most doggedly persistent players on the world stage!

Consider these prophecies concerning the time immediately ahead of us:

  • There will be a miracle-working religious authority allied with great secular power and global reach (Revelation 13:1, 7, 11-13).
  • This global religious/economic/political/military mega-power will enable much wealth in the world for those nations who bow to its will (Revelation 18:3).
  • For those who do not bow to its will—true Christians who refuse to disobey the commandments of God (cf. Revelation 12:17)—it will have the power to enact devastating economic sanctions (Revelation 13:16-17) and even orders of execution (v. 15).

Today’s “policy recommendations” and “white papers” may very well plant the seeds of your future!  And political recommendations such as these by the Roman Catholic Church—recommending the establishment of a global financial authority and laws to protect the “sanctity” of Sunday as a day of rest—should be watched closely!

Though we live in a world of confusion and upheaval, the future is not a mystery!  To unlock the meaning behind today’s headlines, read our informative booklets, The Beast of Revelation: Myth, Metaphor or Soon-Coming Reality? and  Who or What Is the Antichrist?  For those with their eyes open, Bible prophecy comes alive!