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Malacañang previously said that Congress must authorize President Rodrigo Duterte to enter into negotiations with the Marcos family. This is for the return of the Marcos wealth under the Central Bank, Word Bank and IMF certifications equivalent to the gold deposits. It was worth $35 per ounce during the time of former President Ferdinand Marcos but now, the value is at $1,729.25 per ounce.
Gold Reserves as Protection for the Economy
The President said Senator Imee Marcos told him that the late Filipino leader Ferdinand Marcos took the wealth including gold bars to “protect the economy.” He said he accepted this explanation. It was legally obtained. That’s why no cases can hold the Marcoses accountable to it. After all, they still belong to the Philippines.
The Return of Ferdinand Marcos
Duterte openly supports the Marcos family. He cheers on the late Marcos’ namesake, Ferdinand Marcos, Jr. His vice-presidential bid in 2016 is still under electoral protest. It awaits a decision from the Supreme Court. The Marcos family is known to groom him for the presidency as well. The legal fight against the presumptive Vice President, Leni Robredo could put him in the country’s second-highest office. When it does, it would be easier for the President to pass the torch to him to face the Covid-19 challenge. He is still recovering from the infection at this point. So, he would certainly be immune to the virus when his time to lead the nation comes.
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Meet the Keeper of the Wealth for Humanity
The trust for the benefit of humanity holds the World Bank gold certificates issued to the late President Ferdinand Marcos for the deposits in overseas banks. However, most of these stocks are just at the Central Bank. The current World Bank Loans with almost zero percent interest for 29 years plus 10 years grace period are proofs enough that these reserves are real. President Rodrigo Duterte said previously that he would instruct the Congress to convene to recover the Marcos Wealth. The family cannot do this alone.
The World Bank and the IMF
The World Bank and its sister organization, IMF (International Monetary Fund) are special organizations that sit on top of the world’s wealth. They are hidden in secrecy. 400,000 metric tons of them are in the Central Bank. 200,000 metric tons are in the Union Bank of Switzerland. The rest are shipped to around 200 countries. Former First Lady Imelda Marcos is the keeper of the bill of lading.
Warring Factions on the Marcos Wealth
Senator Imee Marcos is the only senator who pushes to secure the World Bank loan necessary to keep the economy afloat during the Covid-19 outbreak. She is known to have a strong alliance with the President. Strong enough to obtain the recent $500 million initial loan. This can go on depending on the extend of the Coronavirus devastation. However, this is just the tip of the iceberg. The whole world is in need. Since the country has tasted the fruits of the late President Marcos’ labor already, it’s about time that the Congress must prioritize to convene on the said issue to save and rebuild humanity as a whole. Warring factions should not matter anymore at this time.
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The Congress Needs to Hear the Wealth for Humanity Case
President Rodrigo Duterte earlier swears that the Congress will pass a law for the gold transfer to happen. “It’s a long process,” he said. “It does not belong to me. It was just a signal from the Marcoses they will cooperate to secure what the people are believing to be theirs.” The Marcos family also has the right to defend themselves that the wealth was not stolen by their patriarch or else they could have direct access to it. The Congress must prioritize this to rebuild the nation’s economy for the coronavirus aftermath. The late President Ferdinand Marcos’ heir, his trustee, and Central Bank with the approval of the President through the Congress can make this happen.
The Country’s Gold Reserves
The Philippines have so much gold starting when the late Ferdinand E. Marcos was still a young, and dashing lawyer. He already became two of the richest Filipinos even before he became president because of the trust of the Tallano royal family. The collection even grew abundantly when combined with the Maharlika gold and the Yamashita treasures. Brilliant as he was, Marcos made sure that they are documented for humanity and serve the Filipino people as economic support or gold reserves. This is the reason why the country never gets bankrupt like Belgium despite the world’s financial crisis.
The Marcos Foundation
The Marcos Foundation holds the rights for the gold collection as registered in the Central Bank of the Philippines. The foundation’s beneficiaries are the Filipino people. The 50 year validity period has already expired at Central bank so, the government has the jurisdiction for its assignment in cooperation with the World Bank. It is expected that the claim can be honored only when the bill of lading and the representative for the beneficiaries which is the government can be presented to the World Bank hand in hand. The overseas banks where they are deposited do not own them. The World Bank only acts as the globe’s martial for their intended use as protected by the late Marcos using his expertise in the law.
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Close Ties with the President
A martial law survivor sees President Rodrigo Duterte’s close ties with the Marcos family and the lack of Duterte’s support for the Presidential Commission on Good Government as reasons why the agency is not winning any cases. The evidences shown by the PCGG do not constitute as public records because the certified true copies are mere photocopies.
Loans and Mortgages
Sandiganbayan’s Second Division already dismisses the P1.052 billion ill-gotten wealth case previously. The case is against Bienvenido Tantoco, Sr., the Marcos couple, among others. This is in connection with the Tantoco clan’s 11 real estate properties in the Philippines, Hawaii, and Rome. Shares of stocks in 19 companies; cash on hand and in a bank; jewelry; notes, loans, and mortgages receivable. Motor vehicles and three Cessna aircraft. Senator Imee Marcos, former Senator Ferdinand “Bongbong” Marcos Jr., Irene Marcos and Constante Rubio, a close associate of the former president are also in the complaint.
The Sandiganbayan Affirms the Dismissal of Another Marcos Case
The Sandiganbayan dismisses earlier the P200-billion forfeiture case against the Marcos family due to lack of evidence. The anti-graft court also junks prior to that a P102-billion ill-gotten wealth case against Ferdinand Marcos and wife Imelda and 11 of their cronies due to the prosecution’s failure to present evidence. Recently, the Sandiganbayan also junks the Philippine government’s appeal on the dismissal of the P267 million ill-gotten wealth case against the Marcos couple and their cronies.
By: Elena Grace Flores
It is a common question by the Dilawans or Aquino-loyal oppositions that if the wealth for humanity preserved by the late President Ferdinand Marcos is not stolen, why would they offer to “return” 90 percent of it? In fact, it’s a possession that need not to be returned according to case acquittals in courts. However, ex-President Marcos’ will clearly segregates it from the 10% of his family’s inheritance. They are in the hands of trustees. Marcos’ letter in former Vice President Doy Laurel’s possession addressed to Cory Aquino says it all.
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[VIDEO]: Cory Aquino rejected turn over of Marcos Wealth to the Filipinos
Former VP Doy Laurel Witnesses Cory Aquino’s Greed
President Ferdinand E. Marcos gave Doy Laurel a letter addressed to President Corazon Aquino proposing that 90 percent of all his assets worldwide would be given to a foundation in trust for the Filipino people. Unfortunately, Cory ignored Doy.
Marcos to Doy Laurel:
“Please tell Mrs. Aquino to stop sending her relatives. They are proposing so many things, all I want is to die in my country. Tell her to let me come home. I will turn over 90 percent of all my worldly possessions to our people. I will ask only 10 percent for my family. That is much better than her relatives are proposing.”
To Return or to Turn Over Wealth to the People
There is a big difference between the highly publicized alleged “return” of the Marcos wealth versus the “turn over” term of Marcos as shown in his letter to Aquino. His will and testament clearly states that such earthly possessions are for the people’s welfare. Livelihood and educational programs are few of the priorities along with healthcare, disability and retirement benefits. Not to mention national infrastructure, agrarian, and irrigation developments.Plus the rehabilitation of mining and industrial projects.
Former First Lady Imelda Marcos Pleads the Senate
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Imelda Marcos said that her husband was not a thief. His fortune is from his gold trading passion. The senate hearing was a live broadcast by a cable television company. This allows many Filipinos to see for the first time Mrs. Marcos’ stand on the hidden wealth. Nonetheless, they also see for themselves how the mainstream media twists many facts just to discredit the Marcoses.
Not with the Marcoses but with the Trustees
Marcos’ widow pleads with the senate to help her implement her husband’s will and testament for the humanitarian foundation. The assets must be taken from the hands of the trustees. This was her most urgent reason to attend that particular hearing. Unfortunately, the interrogators were only into controversial matters other than to alleviate the sufferings of Filipinos from poverty.