Tuesday, June 17, 2014

Pope Blasts Those Getting Rich by Speculation; Calls on Rich to Use Investments for Humanity

Pope Francis yesterday denounced those getting rich through speculation in financial markets, calling on them to use their investments for the good of humanity, the AFP (Agence France-Presse) website reports today (June 17, 2014).

"It is increasingly intolerable that financial markets are shaping the destiny of peoples rather than serving their needs, or that the few derive immense wealth from financial speculation while the many are deeply burdened by the consequences," he said.

The pope -- who has said he wants to create "a poor church for the poor" -- has often spoken out against the "idolatry of money" since his election last year.

The 77-year-old said, "It is important that ethics once again play its due part in the world of finance" and that markets should "serve the interests of peoples and the common good of humanity."

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