On financial markets


“Vatican document calls for reform of financial markets” (Catholic Star Herald Oct. 28). At first glance this article seems to make sense, I think most people would agree that the financial markets are the reason we are in such a mess. However, after reading the article about the Pontifical Council for Justice and Peace’s call for “the gradual creation of a world political authority” as well as the creation of a “central world bank,” I thought otherwise. These two entities are the last thing we need.

The already in place International Monetary Fund, World Bank, Federal Reserve and United Nations have done enough damage. Furthermore, expect no “virtuous behavior” from those that control the money; remember love of money is “the root of all evil” and has been since at least that day in 1694 when an Act of Parliament created the Bank of England, forerunner of all central banks, where greed and usury, still sins, are everyday occurrences.

I would have expected a document like this to have been written by someone like the Federal Reserve Board of Governors, rather than some Council in the Vatican. “Reform of financial markets,” at least in our country, can only come about with a return to the U.S. Constitution, which would effectively end any central bank scheme.

Then again, I guess all this is part of what Sister Lucy of Fatima referred to when she spoke of a “diabolical disorientation” overcoming the Church. In this same paper is the article, ‘Pope prays Assisi pilgrimage will foster dialogue, peace’ (pg. 11); we all know the disaster that dialogue and ecumenism have been for the church.

If the pope and Vatican are sincere in their desire for peace, I humbly suggest making the consecration of Russia to the Immaculate Heart of Mary. That is what heaven asked for; not a “central world bank,” a “world political authority” or “dialogue”!

Frank Malloy