Tags: Vatican | Pope | money | poor

Pope Blasts 'Cult of Money' That Tyrannizes Poor, Urges Financial Ethics

Image: Pope Blasts 'Cult of Money' That Tyrannizes Poor, Urges Financial Ethics Pope Francis frees a dove during his weekly general audience in St. Peter Square at the Vatican on May 15.

Thursday, 16 May 2013 10:01 AM

By Newsmax Wires

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Pope Francis has denounced the global financial system, blasting the "cult of money" that he says is tyrannizing the poor and turning humans into expendable consumer goods.

He warned that insecurity was rising in many regions of the world and the "joy of life" was diminishing in developed countries.

In his first major speech on the subject, Francis demanded Wednesday that financial and political leaders reform the global financial system to make it more ethical and concerned for the common good. He said: "Money has to serve, not to rule!"

Editor’s Note: Put the World’s Top Financial Minds to Work for You

It's a message Francis delivered on many occasions when he was archbishop of Buenos Aires, and it's one that was frequently stressed by retired Pope Benedict XVI.

Francis, who has made clear the poor are his priority, made the comments as he greeted his first group of new ambassadors accredited to the Holy See.

The Argentine pope, formerly the archbishop of Buenos Aires Jorge Mario Bergoglio, became a powerful voice on the side of the dispossessed during his homeland's devastating economic crisis.

"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 in an address to ambassadors to the Vatican.

Francis said that radical free-market ideologies had 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.

The pope's predecessor Benedict XVI was also an advocate of ethical financial reform and denounced freewheeling capitalism as one of the reasons behind the global financial and economic crisis.

"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.

Editor’s Note: Put the World’s Top Financial Minds to Work for You

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