On Monday, the Vatican called for creation of a “global public authority” and a “central world bank” to regulate the world’s financial institutions.  As Reuters reported, “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.”

The Vatican got very specific in its recommendations.  It condemned the “idolatry of the market” and called for global wealth redistribution, asking nations of the world to participate in an “ethic of solidarity.”  In a passage that could have been ripped from Marx, the Vatican stated, “If no solutions are found to the various problems of injustice, the negative effects that will follow on the social, political and economic level will be destined to create a climate of growing hostility and even violence, and ultimately undermine the very foundation of democratic institutions, even the ones considered most solid.”  Click here to read more.