By: Elena Grace Flores
Zobel’s Testimony on the Marcos Wealth
Enrique Zobel comes from a prominent Ayala family in the Philippines. He died on May 17, 2004. He’s a Spanish-born industrialist and philanthropist. His testimony on the Marcos wealth during a Blue Ribbon Committee hearing was found in a Newsflash. It happened during the Senate Blue Ribbon Committee Meeting.
Purpose of the Wealth in Gold Deposit Certificates
Zobel saw the folder that contains Ferdinand E. Marcos’ US$35 billion gold certificates. The incident took place in the hospital. So, it is now worth around US$100 billion. There’s no question on the details of his testimony on the reality of Marcos Wealth. He also disclosed President Marcos’ great purpose for this wealth. The late president allegedly has around 100 Billion Dollars reserves for humanity.
Accumulating the Wealth Since World War 2
Marcos explained to him that he has been accumulating this wealth since World War 2. Zobel advised him to set up a trust fund with the Filipino people as beneficiaries. Marcos’ intention was for the Philippines to have gold reserves for a credit facility necessary for the country’s development. Enhancing the armed forces, and housing projects were on the priority list. Therefore, no corruption cases can nail him down.