By: Elena Grace Flores
[VIDEO]: Why did past administrations refrain from using Marcos’ gold reserves for the country?
The Alleged Hidden Wealth
Even though previous administrations ignored President Ferdinand E. Marcos’ gold reserves for the welfare and development of the Philippines, it will not last long. Filipinos will feel the effect of using the alleged hidden wealth. Today’s president, Bongbong Marcos, will surely realize his father’s wish for the nation.
It is clear in the recent SONA of President Bongbong Marcos that the government intends to continue the comprehensive Build Build Build project. In fact, this will be extended to a greater height. This is on top of the agriculture to education developments. Where would the money come from? Is that from the alleged hidden wealth?
Secretary of Finance’s Confession
As per the confession of Finance Secretary Benjamin Diokno previously, he said that the country owns 10% of the world’s gold reserves. We also have some gold deposits in London. He urges people to look at loans in a different light. Borrowing money from the Central Bank with no interest for revenue-generating projects can definitely better the economy that eases poverty. The late President Ferdinand Marcos proposed this to the former president Cory Aquino but to no avail.