Iraqi Dinar Discussion Board

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OT- WFA World Financial Authority


The concept of a world financial authority has been floating around for years and it seems to be picking up momentum. Last year, Pope Benedict xvi, released his 144-page encyclical, the third of his papacy, titled “Charity in Truth,” and deals extensively with the economy, business and finance. He recommends a world political authority and a new world financial order. Also, President Obama and President Sarkozy are pushing their agenda for a global financial overhaul. The next several months will prove to be very interesting. A global financial "overhaul" is expected by the end of 2010.


March 30, 2010


The New World Financial Order... and the ... WFA - The Missing Link.. To Be Controlled by the World Financial Authority...?



WFA: World Financial Authority.

A yet to be established section of the UN which, amongst other things, would exercise supervision over the activities of the IMF and the World Bank and the also yet to be established international investment funds designed to extend long-term loans to countries suffering from a shortage of capital.

A plan to reform international finance – the World Financial Authority (WFA) Plan.

Under such a plan, the IMF and other existing international financial institutions would be reformed and coordinated around a newly created WFA. The WFA would have two core functions.

First, managing the international liquidity, which implies reducing externalities arising from domestic monetary policies adopted by its members, and dealing with global liquidity problems involving financial activities of transnational private banks.

Second, helping countries to make their domestic monetary policies more effective, regaining traction and preventing contagion.

A central instrument to this end is the creation of the World Financial Unit (WFU), an international currency unit conceived as a synthetic security backed by reserves composed of currencies surrendered to the WFA by member countries. The WFA is being thought as a device to support the financial globalization, as well as helping governments to maintain their power to manage the domestic macroeconomic conditions, contain externalities, align incentives, and allow for more responsible policies.


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Pope Calls for “World Political Authority” And a new world financial order



July 8, 2009



As the leaders of the G-8 states packed their bags and jetted to Italy Tuesday, Pope Benedict xvi provided some moral and spiritual direction to all attending the summit in L’Aquila. Released yesterday, Benedict’s 144-page encyclical, the third of his papacy, is titled “Charity in Truth,” and deals extensively with the economy, business and finance.

Benedict’s voluminous encyclical is widely perceived to be a strong argument for greater institutionalization and regulation of multiple global issues, including the global economy. Associated Press reported yesterday that in the communique, “Pope Benedict xvi called … for a new world financial order guided by ethics and the search for the common good, denouncing the profit-at-all-cost mentality blamed for bringing about the global financial meltdown” (emphasis ours throughout).

“Profit is useful if it serves as a means toward an end,” wrote Benedict, in what was widely perceived to be a slight against U.S.-style capitalism. “Once profit becomes the exclusive goal, if it is produced by improper means and without the common good as its ultimate end, it risks destroying wealth and creating poverty.”

Although the pope’s condemnation of greed and selfishness as a central cause of the global financial crisis was accurate, it was his repeated admonition to world leaders to form an all-powerful regulatory body to govern a plethora of global issues that was especially noteworthy, and disconcerting.

“In the face of the unrelenting growth of global interdependence,” wrote Benedict, “there is a strongly felt need, even in the midst of a global recession, for a reform of the United Nations organization, and likewise of economic institutions and international finance, so that the concept of the family of nations can acquire real teeth.”

Benedict’s quest for far-reaching reform was even more explicit in the next paragraph:

To manage the global economy; to revive economies hit by the crisis; to avoid any deterioration of the present crisis and the greater imbalances that would result; to bring about integral and timely disarmament, food security and peace; to guarantee the protection of the environment and to regulate migration: For all this, there is urgent need of a true world political authority ….

According to the pope, the solution to some of the world’s most pressing problems—including the global economic crisis, disarmament, food security, immigration and environmental degradation—is the formation of a “true world political authority.”

Surely the only “world political authority” under which Pope Benedict xvi and the Vatican would willingly and consistently function, would be one in which the Vatican had a controlling influence.

And what significant group of nations do you think might be willing to subject itself to strong Catholic influence? There’s only one answer, really: Europe!

That’s why the pope’s call for the formation of new global regulatory bodies, and a new global political order, is so chilling. Really, Pope Benedict is speaking to European leaders. Ultimately, by calling for a new global political order, Pope Benedict xvi is shepherding the formation of what Bible prophecy says will be a German-led, Catholic-dominated global European empire.


http://www.thetrumpet.com/?q=6323.4778.0.0



U.S. and the EU Continue to Work Towards Sustainable Global Recovery ...

http://articlesofinterest-kelley.blogspot.com/2010/03/plan-to-reform-international-finance.html