Ocean Kayaker: Thomas Sowell on Uncommon Knowledge, Part 2: The Federal Reserve

Thursday, January 6, 2011

Thomas Sowell on Uncommon Knowledge, Part 2: The Federal Reserve

Peter Robinson, the host of Uncommon Knowledge (and the former Reagan speechwriter who penned the line, "Mr. Gorbachev, tear down this wall") conducted a five part interview with Thomas Sowell about the new edition of his best selling book: Basic Economics. The below link is to part 2 of that interview.

http://tv.nationalreview.com/uncommonknowledge/post/?q=M2RjZDYxNTM4YTU5NWMxY2Y3YmIyMDRmMTI5ZWY4ZjI=

Transubstantiation

The Catechism of the Catholic Church: 1376: The Council of Trent summarizes the Catholic faith by declaring: “Because Christ our Redeemer said that it was truly his body that he was offering under the species of bread, it has always been the conviction of the Church of God, and this holy Council now declares again, that by the consecration of the bread and wine there takes place a change of the whole substance of the bread into the substance of the body of Christ our Lord and of the whole substance of the wine into the substance of his blood. This change the holy Catholic Church has fittingly and properly called transubstantiation.”

Pope Benedict XVI

The more vigorously the primacy was displayed, the more the question came up about the extent and and limits of [papal] authority, which of course, as such, had never been considered. After the Second Vatican Council, the impression arose that the pope really could do anything in liturgical matters, especially if he were acting on the mandate of an ecumenical council. Eventually, the idea of the givenness of the liturgy, the fact that one cannot do with it what one will, faded from the public consciousness of the West. In fact, the First Vatican Council had in no way defined the pope as an absolute monarch. On the contrary, it presented him as the guarantor of obedience to the revealed Word. The pope's authority is bound to the Tradition of faith. … The authority of the pope is not unlimited; it is at the service of Sacred Tradition.

Ocean Kayaker

Restoring the Sacred

Thursday, January 6, 2011

Thomas Sowell on Uncommon Knowledge, Part 2: The Federal Reserve

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