By: Elena Grace Flores
UNTV News and Rescue
Gold Reserves and Not Ill-Gotten
The Philippines have so much gold starting when the late Ferdinand E. Marcos was still a young, and dashing lawyer. He was one of the two richest Filipinos 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 this wealth are documented for humanity. This serves as the Filipino people’s economic support in the form of gold reserves. That’s why the country never gets bankrupt despite the world’s financial crisis.
Proof of Legitimacy
Former First Lady Imelda Marcos discloses to the world that she is in possession of the bill of ladings for the gold shipments to the different parts of the world. She even explained this to the U.S. court that acquitted her from the graft and corruption charges. She was also hailed as a very honest First Lady and the Filipinos are lucky to have her. The Marcos family does not have the rights to this wealth. The Filipinos do. This is under the Marcos Foundation.
The Filipinos are the Beneficiaries
The Marcos Foundation holds the rights for the wealth 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 the 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 with the trustees. 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.