Article brought to you by: Catholic Online (www.catholic.org)

Pope Francis tells world's leaders to abandon 'cult of money'

By Catholic Online (NEWS CONSORTIUM)
May 17th, 2013
Catholic Online (www.catholic.org)

In an address to ambassadors to the Vatican this week, Pope Francis called upon the world's leaders to put an end to the "cult of money." The pontiff says that much more is needed to help the poor. "I encourage the financial exports and the political leaders of your countries to consider the words of St John Chrysostom 'Not to share one's goods with the poor is to rob them,' he said.

LOS ANGELES, CA (Catholic Online) - Francis warned that insecurity was rising in many regions of the world while at the same time the "joy of life" was diminishing in developed countries.

"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 said.

Radical free-market ideologies, Francis said, has created "a new, invisible, and at times virtual, tyranny" and human beings "considered as consumer goods" and called for global financial reform that would benefit everyone.

"Solidarity, which is the treasure of the poor, is often considered counterproductive, opposed to the logic of finance and the economy. While the income of a majority is increasing exponentially, that of the majority is crumbling," he said.

As the former archbishop of Buenos Aires when he was known as Jorge Mario Bergoglio, became a powerful voice on the side of the poor during Argentina's devastating economic crisis.

In a related development, the Vatican Bank, a center of scandals for decades will launch its own Web site and publish its annual report in an effort to increase transparency, its new president said.

Ernst von Freyberg told the bank's employees of the changes, which should be in place by the end of the year.

Freyberg also said the bank, formally known as the Institute for Works of Religion and dubbed the world's most secretive bank by Forbes magazine, had also hired an auditing firm to make sure it meets international standards against money laundering.

Gotti Tedeschi fired last May, was dismissed because he wanted more transparency but the board, made up of international financial experts, said he had neglected basic management responsibilities and alienated staff.

His abrupt departure, along with the arrest of Pope Benedict's butler for stealing confidential papal documents, came during a leaks scandal that shook the Vatican last year and contributed to Benedict's decision to resign.

Article brought to you by: Catholic Online (www.catholic.org)