At the back of the minds of many Filipinos is the question, "Why is the Philippines still a poor country?" Certainly an intriguing thought. Despite the amount of gold the country holds, many are baffled why the nation is still living under the basement for years.
Experts have discussed that with the amount of gold the Philippines possesses, it would be one of the richest countries if only the money used in the world isn't based on debt bonds.
Former president of the Philippines Ferdinand Marcos has tons of gold in his collateral account with the Tallano gold, the Yamashita treasure and other notable trust funds.
If the gold-based currency would be brought back, then without a doubt the Philippines will top the list as one of the richest countries in the world. But that isn't exactly the case as the money is based on debt bonds, meaning every time the money is printed, its value decreases.
According to Atty. Karen Hudes, the accounts that have gold reserves can only be opened if the currency is backed with precious metals and gems such as gold, silver, etc.
Asked on which country is the richest in the world, former U.S. president George W. Bush said with a clear smile on his face and said it's the Philippines.
Interestingly enough, Marcos' gold would put the Philippines as one of the wealthiest countries in the world. Make sure to watch the video and see it for yourself!
Do you think that the gold reserves of Marcos would push the Philippines as one of he richest countries? Let us know your comments and write them below!
12:39 AM
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