If the US debt-ceiling debate goes past the eleventh hour, and the default of the world’s largest economy becomes a reality, leading central banks around the world are gearing up to minimize losses and keep the world economy functioning.
If US lawmakers don’t reach a budget consensus and raise the debt ceiling by Thursday October 17, the US will become the first Western power to default since Nazi Germany in 1933, and will send markets into uncharted territory.
The rest of the world is bracing itself for what would happen if the bill is rejected, and the US inches closer to defaulting on its debts, which are largely foreign- held in the form of US Treasury Bonds.
Central banks have begun preparing for the worst-case scenario if US does fault, which would result in a serious devaluation of Treasury bonds, delayed payments, and a more large-scale version of the current government shutdown.
“Because in the past it’s always been sorted out is absolutely not a reason to fail to do the contingency planning,” Jon Cunliffe, who will become the Bank of England’s deputy governor for financial stability in November, told UK lawmakers.
“I would expect the Bank of England to be planning for it [US default]. I’d expect private-sector actors to be doing that, and in other countries as well,” said Cunliffe, who acknowledged a default as “the main risk to the [global] financial system”.
The European Central Bank and the People’s Bank of China (PBC) have struck a deal that moves both banks farther from the dollar orbit. The two banks agreed to ‘swap’ $56 billion worth of yuan for $60.8 billion worth of euros.
Many central banks have reserves in the form of Sovereign Wealth Funds, which are also at risk if the US defaults, as many of the assets are held in dollars. These investment vehicles could be crippled by a default. China’s is estimated at more than $1.3 trillion – the world’s largest.
A historic shift
Neil Mackinnon, a former UK Treasury official, told RT the US default tango marks a shift in the global economic paradigm, from West to East.
If the US doesn’t act soon, “the dollar will decline and its importance will move to a multi-polar currency system and other currencies will take on board more importance,” said Mackinnon.
Over the weekend, economic leaders from around the world met in Washington DC at the International Monetary Fund’s annual meeting. The fund’s managing director, Christine LaGarde, issued a harsh warning the global financial system could enter a recession if the US misses its debt deadline.
The US Senate said they will announce a deal to end the shutdown and extend the debt ceiling on Tuesday, which will pass through to the House, where it will face Obama’s hard-nosed Republican opponents who want to cut funding of the Affordable Care Act.
The aim is to make the subject of free energy more understandable for the layman so that anybody could replicate and install his own power plant and be completely living off-grid.
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DEFER OR DEFAULT?
Senate Nears Deal… GOP Rep: Boehner Will Be Lucky To Find 20 Republicans To Support It… House Conservatives Revolt… ‘Mushy Piece Of S–t’… ‘If Boehner Backs This, He’s In Trouble’… House To Vote On Their Own Bill – And Still May Not Have The Votes!… THE DEFAULT HAS ALREADY BEGUN…
What if all those people whom we believe are fighting against the Cabal are themselves mere actors playing their part of the Grandest Script ever laid upon the Gullible?
What if Vladimir Putin is with the Cabalists just like his predecessor Gorbachev?
What if the whole show is just a monster’s clever adaptation to new realities wherein the Sheeples are beginning to empower themselves with information never available to them before?
We cannot expect the masters of mind manipulation to just sit there doing nothing while we are busy chatting in social media about how fucked up we all are. They must have expected something like this would happen and may have figured out the most suitable countermeasure.
Such countermeasure that would convince everyone that ended we have regain our freedom back, yet in reality the control systems are just being upgraded.
We must not forget that within a very short span of time they’ve been able to convince us that the Slavery System is gone, and yet we all know that it has expanded its scope and clout instead.
It used to be only the colored peoples of the planet, but right now it has made everyone subservient to somebody else. From ordinary laborers to professionals, private and public officials, presidents and paupers alike, we are all serving the same Slavery System, that very efficient mechanism which ultimately fed the caprices of the few at the top of the pyramid.
The slaves of the past were once housed and fed. Now, they have allowed the slaves to house themselves through a financial scheme that would take a lifetime to pay. The built-in limitations accompanying every legal right are cloaked with fats and sweeteners, e.g. right to vote and free speech.
Free speech can be muted just by shooting the messenger. The right to vote can be defeated even before the vote is cast by fielding politicians of their own choosing.
So if we can’t trust everyone, where do we turn to?
I can only suggest one — Yourself.
Empower yourself, and try living off the grid as much as you can. That’s when you begin to know freedom. Nobody, politician or not, can give it to you.
Consider everything else as mere entertainment, – a natural anomaly.
Otherwise, the whole thing will whack your brains out, and they have won.
Setting yourself free from the grid is a revolution unto itself. And if others would follow you then, we have won.
Enough for my short and mild rant.
Now, it’s time for me to share Pete Santilli’s, which would resonate perfectly with yesterday’s post, Bloodless Strive.
Putin Story Scripted – Russia Spent $ 6 Million with American PR Firm
September 15, 2013
Well folks, I’m back from a needed 2 week break and glad to be back in the grind of our lifetime.
I figured I would start the news-year off right by expressing my opinion and what appears to be a unique perspective on Vladimir Putin’s recent rise to global fame.
Over the past couple weeks while on vacation, I couldn’t help but tune in periodically to the so-called “Syria Crisis” in the main stream media; what we awakened recognize as a full scale pre-fabricated crisis initiation perpetrated by the powers-that-be to instigate another middle east war.
Please allow me to provide commentary from an outsider’s perspective, as I was merely peering into the current events coverage from the outside as I was basking in the sun on holiday. The only reason I tried to stay updated by catching CNN coverage was because I believed the Syria Crisis was a potential catalyst for World War 3 — the implications were far too enormous for me to ignore entirely over my 2 week vacation. As I was grabbing snippets of information over several days as the crisis unfolded, I felt as though I was being subjected to some of the most horrifying propaganda that the mainstream media has ever manufactured. Yes; we’ve seen them operate as an obedient extension of the military industrial complex; and yes; as they did in Iraq, they simply read tele prompted scripts to convince the American public to open their wallets voluntarily to wage a trillion dollar war. With the Iraq War history so freshly embedded in our memory, one would assume that the state-run media personalities would refuse to be duped once again. You would readily assume that so-called journalists in the main stream media would never again let their government make them look like a propaganda tool.
Watching CNN made me feel like hurling in disgust. Not just because they were so open and obvious about the agenda they were pursuing on behalf of their fascist masters, but because I couldn’t ignore the fact that we still have 100′s of millions of Americans who still naively trust their government; American business; and the main stream media. I became horrified thinking about all the innocent, naive minds being skull plugged by the lies and salesmanship.
Ladies and gentlemen, if you ever wondered what the root of all evil is in the world, I think I have it figured out, and I’ll share it with you because I believe I’m right. Lying to the public is not only legal, but essential in keeping a failed system operating with the energy of false confidence.
The elite cannot physically walk up to each and ever citizen with a pistol; demand that they take out their wallet and hand over all their money. The only efficient method by which they can steal from us on a massive scale is get us to surrender our cash voluntarily. Lying to the masses accomplishes a few things for the elite; it gives them a sense of moral character as they essentially steal from us wearing a suit & tie with lies propagated through the media; they can throw their elitist hands in the air and say “…what the heck, I am not doing anything wrong, I am exploiting capitalism as I receive fists full of cash being thrown at me as a result of my entrepreneurship and corporate success…this opportunity exists for ALL Americans….I am wealthy because people have thrown cash at me….what am I suppose to do? Refuse to accept it?”
Those Americans who are too stupid to understand what is happening to their minds will permanently resign themselves to their role as subservient, gluttonous feeders of the system being shoved down their throat by the elite who know the secret code. They have crafted a corporate brand of leaders who create jobs and prosperity via their system of perpetual lies. They have us all convinced that the alternative is poverty and pain.
Today there are a select few of us who are now fully awakened to the realities of this failed; immoral, unethical system of theft, but we cannot stop there. We must recognize that the elite have now learned to lie to the awakened as well. Within our community of awakened exists a large percentage of people who have just recently realized they were suckered by the main stream media, and I believe they are still malleable and naive — they are the easiest to lie to; all the elite have to do is gain their trust by telling them that they have been lied to “…so here’s the truth…”. The bottom line: It’s another set of lies wrapped up in a truth flag.
So, you are probably asking, “…what does this have to do with the Syria Crisis? and so what if the main stream media lies — I don’t watch CNN…”. As I said, from an outsider’s perspective I will present this to you in the least condescending fashion:
They have us completely surrounded with every possible scenario of lies by purchasing each and every one of our minds. If you are a conservative — done. We have a narrative that fits perfect with your anti-Russia, cold war mentality.
If you are a liberal peace-nick. Bam. Peace at all costs, led by the socialist-in-chief.
Independent? Boom. Bi-partisan opposition whipped up in a blender.
Conspiracy theorist? ”Alternative media” fanatic? Bam! Alex Jones is bought and paid for, and every single alternative media underling regurgitates exactly what he is regurgitating — “aggregating” selective news without ever having to claim ultimate responsibility for propagating lies.
Are you a Russia-fearing prepper? Ka-blam! Gotcha covered with numerous reports about Russian troops on the ground and thousands of “confidential DHS insider” leaks.
No matter who you are, and what your perspective is as you analyze the Syria crisis, your mind is purchased. Even Russia has mastered the fine art of skull plugging for profit. Just think, both the U.S. and Russian military industrial complex cannot afford NOT to psy-op their populous. Trillions of dollars are at stake for both sides.
Here’s the most disturbing thought: There is so much money wrapped up in pre-fabricated conflict, that the Russians, Chinese, and Americans have allied in the propaganda war. The name of the game is “Public Relations” (corporate code name for legal lying & skull plugging).
If you take a step back and wonder why each special interest group is thinking the way they are thinking in their analysis, you can easily determine that each sect is satisfied with a pre-purchased rendition of what is occurring in this Syrian crisis, but the bottom line is that we are always inching towards war. No matter what your politics are, your mind is perfectly ripened to justify killing billions of humans and sending trillions in profits to both sides of the conflict. Each of us is literally being painted into a corner, and the elite will soon surprise everyone with a one-world government solution.
This, my friends, is the higalian dialectic on steroids. Problem – reaction- solution , and it is a fact that the awakened are not immune or exempt from the psy-op. Every mind has been purchased. Period.
In the USA, we can follow the money trail through what we now know is a fascist system. Mercenaries whip up a chemical false flag attack in Syria. The intelligence community (secret Zionist code for lawless militant drug traffickers and war fabricators) covers all the bases: fake YouTube videos, CNN teleprompter scripting, and made up Presidential reports that give the Commander In Chief no other legal obligation than to bomb. Corporations inject the media — like pumping a Foster’s Farm chicken with growth hormones — with the same styled imagery & heart string jerking sadness of dying babies who have been gassed.
In Russia, same scheme, different dialect of lies, but ultimately bough and paid for by the Russian military industrial complex.
Within moments of returning from vacation, I immediately said “…whoa…why is this Russia/Putin narrative being shoved in my face so hard?” Before vacation I was talking about how I admired the conduct of the Chinese and Russians on the international diplomatic stage. I now realize that’s exactly what they paid for. The global elite are slowly whittling away at American sovereignty and prosperity, and we are witnessing the final nail in our coffin — convincing our citizens that we really are much better off conducting ourselves as obedient global citizens. That our international diplomacy skills are old and obsolete. That America is no longer an “exceptional” society under the most powerful & protective rules of Constitutional law in the history of mankind.
In order for both the Russian and US military industrial complex to win trillions, they must destroy the USA from within (we’ve seen this through our collapse), and then finalize the deal with final push from Putin. The entire story has been scripted, and all facets of this story are covered. Each of us will one day soon say that we had no other alternative than to act, and each of us will open our wallets and throw trillions to the elite. We will beg them for global stability, and since the USA is in its final throws of incompetence, the majority of our Zombies will clammer towards a one-world government. A peace negotiated by all angry parties for the sake of humanity.
Is this all a conspiracy theory, or is it a fact that what I tell you — that there is so much money wrapped up in this scheme that they cannot afford to stop lying to you — then please consider that anything you believe about Vladamir Putin has been paid for. The Russians have spent almost $6 million dollars with a public relations firm which specializes in lying to you for profit. It has been reported that the Op-Ed piece published by Putin was crafted and placed in the New York Times by American PR firm Ketchum. Let me repeat that: Vladamir Putin’s handlers are an American corporation that gave him inside access to one of the US’s top media outlets. Communist Russia has used capitalism to penetrate the American mind? But, one could ask, “but Putin is trying to negotiate peace? Isn’t that the desired outcome?” Only if you look at the surface, but you have to realize that the stage is being set for the battle of Armageddon between the Russian Bear and the God Blessed Exceptional Amerikans. It’s a slow trickle of thinking inserted into your brain, but don’t forget, $6 million dollars is being spent by the Russians for “PR”, and you bet your bottom dollar that they expect a trillion dollars back in war profits for their investment.
Don’t forget Obama’s help to the military industrial complex by signing the NDAA. By doing so, he essentially gave them an open check book to pump lies into the media. The 2012 NDAA repealed the Smith Mundt act which prohibited the US Military from using the media to propagate fake news stories in their psy-ops.
What’s the punchline? Armegeddon is a very profitable venture. The only way to fund it is to pre-fabricate chemical false flags, whip up tear jerking imagery of gassed babies, convince the world population that there is no other alternative than to open their wallets and throw money at the Pentagon, and line up a billion of our youngsters to get slaughtered fighting for “freedom”.
The end result: Profits flow like a slot machine to the elite. The people pay the bill. A billion lives are wiped out (no biggy for the elite—especially if the troops are too stupid to be anything but obedient and patriotic). All sides of the military industrial complexes of Russia, USA, China win a couple trillion. And worst of all, the elite actually pay billions to make us believe this is a better alternative than a collapse. The fabricate the problem — exploit the human reaction to the horrifying events they create —- and then pay big bucks getting ready to offer the Zombies a solution. Why? Because they will win trillions.
It’s all a lie and it can never be stopped. The best thing we can do is believe none of it, and resist their higalian dialectic to the death. We will literally need to kill the elite (for humanitarian reasons) to stop them from lying. We can do this, but time is running out. Tell as many people as you can —not about the truth, but especially about the lies.
Be sure to tune in to The Pete Santilli Show on Monday September 16th at 10am PST / 1pm EST for our first broadcast back from the annual break. Follow Pete on Twitter @SantilliMan, and please also “Like” our GuerillaMediaNetwork.com Facebook page. We realize Twitter and Facebook have been compromised, but that won’t stop us from sharing critical information in the face of tyranny.
Those who pretend to be on our side rarely mention the involvement of the most insidious military organization that is running the Vatican. Be it Alex Jones, Jesse Ventura, Ron Paul, and Ben Fulford – they can all go into the details of the problem but they are united in one common thread – the silence about the Jesuits.
Karen Hudes, on the other hand, just did what those men can’t do.
And while others are injecting fear porn into the ongoing US, Inc. shutdown, the RT article below emphasizes a smooth transition from the West to the East, i.e. economic strengths.
‘Congress all bribed, has zero confidence in eyes of American people’ – World Bank whistleblower
The US government shutdown – a temporary ailment or a symptom of a grave disease? Are the Republicans right in their move to block Obamacare spending? Who gains from the shutdown turmoil? Do the politicians care about their citizens? Our guest comes from the very heart of the banking system: Karen Hudes was World Bank lawyer when she blew the whistle on major corruption cases in the system and was fired as a result.
Sophie Shevardnadze: Our guest today is whistleblower Karen Hudes, former senior counsel at the World Bank. Karen, it’s great to have you on a show today.
Karen Hudes: Thanks for having me. Sophie, I’m glad to be with you.
SS:So, the government shutdown. Is the move on the part of the Republicans justified? Is fighting off Obamacare worth all this mess?
KH: I think there is something more going on behind the scenes. A lot more actually.
SS:What do you mean?
KH: Well, there is a terrible currency problem. We’re on the verge of the currency war. The Federal Reserve is printing dollars like there is no tomorrow. And if they keep going the rest of the world is not going to accept them. As it is the BRICS countries – Brazil, Russia, India, China and South Africa – have decided that they are going to finance the trade among these countries with assets and pay for the difference in gold. And this is a right move for them…
SS:But how is that connected with a shutdown though?
KH: The US Congress has been fighting with the presidency because the presidency has been in total contempt and the highest legal officer of the United States Government has also been in contempt of Congress in fighting this international corruption that is ruining the dollar as an international reserve currency.
SS:You know, economists have been predicting the dollar will fall ever since the crisis in 2008. But the Government has managed to keep it afloat.
KH: Well, not for a long. If you look at what’s going in the gold and other precious metals markets, silver as well, we’re headed to something called “permanent gold backwardation”, that means there is a loss in confidencein the fiat currencies that are issued by those private banks. They like to consider themselves as ‘public banks’ but they really owned by private entities. And these currencies are about to crash because they are valueless, that’s what always happens to paper currencies that aren’t backed by assets.
SS:Like you’ve mentioned – “gold backwardation”, gold is often chanted as perfectly safe investment and alternative to the dollar, even. But how come the price of gold is following?
KH: Because of a market manipulation but that can only continue for so long because the Central Banks are running out of gold and the rests of the world are lining up to buy them. If you want to buy gold today, you have to pay today a premium. What they are offering in the future is called ‘a naked short’, they don’t have the gold to back those offers, that’s illegal what they are doing.
SS:I will get back to gold in a bit. But for now I would like to focus on Obamacare. In your opinion, is Obamacare really that crucial for the US economy?
KH: What you have is something that’s very good for medical insurance because most of the other countries that offer medical coverage do this through a single issuer. And that’s it not what we have here. What we have here is a bill that was drafted by the medical insurance companies. It’s not good for this economy. It never was.
SS: Why do you say it’s not good?
KH: Because what’s happening is the workers that worked full-time are being put deliberately on part-time basis, so that the companies can avoid giving the medical insurance coverage under the provisions of the law.
SS:You know this Obamacare thing.. I’ve heard it many times being compared to Socialism, Communism sometimes even. Do you trace the resemblance?
KH: That’s just because the mainstream media, when they report about what’s going on, are doing it by telling lies and anything that’s good for the powers that be. The mainstream media is completely owned and controlled by the same companies, private companies that own the Federal Reserve System. Most of the American citizens are clueless about the corruption that’s rifling their economy.
SS: But just to make sure are you saying that everything about Obamacare is bad? Or are there good things about it?
KH: No, of course, there are good things about it. But the problem is that the people that wanted to get up decent courage were not given the tools, they were not given the equipment, they were not given the press coverage – the honest press coverage that society needs to enact just legislation. The Congress people are all bribed by these corrupt forces and the American citizens have Zero confidence in their Congress.
SS:So, at this point you side with the Republicans for blocking the medicare.
KH: I’m not siding with Democrats or Republicans because both of those parties have been co-opted by these terrible corrupt forces I’m talking about.
SS:What we have right now is Americans being forced to get health insurance. How does it go with their love of liberties and freedom of choice?
KH: It’s not so much a question of being forced, you have to look at those parts of the society that have been thrown under the bus. The uneducated children who are not given superior education like we used to have.We are society that is giving short shrift to the people that need us. I’m not saying that we ignore the health needs of our country. I’m saying that we ignore the mainstream media because they are not telling us the truth.
SS:You know, I also heard Obama supporters argue that the American Capitalism is on the verge of death in its present form, the way it is existingnow, and the social injections, meaning the medical care and Obamacare, are needed as the only way to reform it or save it. Do you agree or disagree with that?
KH: The problem is not with the American citizens, they are a wonderful group, their values are good. It’s just that they are not given the tools that they need to have a just society. They are not given the basic information, about what is really going on and who is benefiting, from the economies that they are being told… they have been told that they have no money, they have taken an entire city, Detroit, and declared it bankrupt. When what’s actually happening is their tax dollars are not even staying in the society, their tax dollars are going by treaty to the United Kingdom, and then they are being transferred to the Vatican, to the bank of the Vatican. This is not a society that is going to be sustainable on any basis, for any reason.
SS:Do you feel like American economy is peaking up because we hear President Obama saying shutdown hurts American economy but at the very sensitive moment world has just started to catch up. Do you feel it’s catching up really?
KH: Those numbers about the employment are completely fabricated because they are not counting those people who have given up ever finding a job as unemployed. That’s ridiculous! The real rate is just about double what they reported as being.
SS: So the American debt looks like a doomed patient. Is there any other possibility for it than just grow into eternity forever? I mean raising debt ceiling once or twice a year, what’s the problem?
KH: The problem is actually when you talk about debt that our currency is financed by debt, our currency is issued by the Federal Reserve instead of the Treasury which is unconstitutional. When the Federal Reserve System was instituted in 1913 most of the Congress was on break, they sneaked that legislation through. So the debt is there simply for those bankers to put in interest on it and have it grow and compound every year. The debt is a fabrication, it’s probably should be repudiated. But it can be repudiated until you’ll have looked that all ofthe implications.
SS: Do you think it’s going to go on and on forever?
KH: No, what I think it’s going to happen is that at the upcoming Bretton Woods meeting on October 9th the countries of the world, the foreign ministers of the world are going to sit down and have a rational basis for currency rather than this fiat currency which is absolutely… what can I say, it makes no sense to anyone but the bankers that are issuing it.
SS:So, when you look at the conflict of the debt, it’s much more than just borrowing money – it makes you controllable. For example, in the case of US – who controls it, you mean the big corporations, or countries like China and Japan, who control large chunks of the debt?
KH: Well, that’s a very good question and, fortunately, some mathematicians at the Swiss Federal Institute of Technology have given us a very precise answer. They did a study of who owns and controls the companies on the capital markets – 43 000 companies. They found out that there is «a secret super-entity», they call it, that owns 60% of the earnings every year and 40% of the assets. They did this by putting the same people on the boards of these companies. So, they have ten times the economic power than there are entitled to. And they thoughtthat none would catch them at it. This is a huge conglomerate that has been rigging the labour’s prices, it has been rigging all of the commodity’s prices, and it has been trading in the securities markets with insider information. It has got to be stopped. It also bought up the media and has been lying to people deliberately. This is going to stop.
SS:So just to answer my question – the government is controlled by the conglomerates or the corporations rather than countries that are up and coming economically, right? Why haven’t these corporations or conglomerates, as you call it, been caught? Why is nothing changing?
KH: That’s the whole point about it. They’d like to think they are in control but they are not, they are not above the law. And we, citizens, know exactly what they are up to, we’ve been working on this problem, all of the governors of the States have been working on this terrible corruption, so have the Attorneys-General, so have the Sheriffs, and it’s not going to continue. The American people are taking back their government and they are stopping this terrible corruption.
SS:As of today, the United States is a financial heart of the world. Whether it collapses or keeps on going, it’s obviously wrong – this much power is concentrated in one place. Asia is a rising monster right now; could it be stealing this financial role from the US? Do you think China, for example, could steal its financial role from the US? Or are they also controlled by that same financial elite you’re mentioning?
KH: Well, I can tell you that the Jesuits have a very strong strangle hold on China as well but I can also tell you that the transition of economic strengths from the western countries to the east is going to happen, but it’s going to happen in a smooth way. It’s not going to be a transition through a currency war like that terrible corrupt group is trying to manipulate everyone into. We’re going to have a peaceful power transition this time around; we’re not going to have the World War III. They try to pull it off in Syria, they are now thinking they can pull it off in Iran, it’s not happening. The citizens of the world see what they are doing and we’re not letting them get away with it this time.
SS:Foreign governments keep buying US Treasury bonds despite obvious problems US economy is facing. What’s making them do that, in your opinion?
KH: I think the biggest market for the Federal Reserve notes is the US Treasury and there is a God of dollars right now. Yes, there is also a small market, unfortunately, the market is weakening as the dollar weakens because of all of this, what they call quantitative easing, where every month so many additional dollars are printed with absolutely no backing.
SS:Should we be buying gold?
KH: Well, yes and no, I think gold is probably wise purchase right now but more as insurance than investment because there is actually a great deal of gold, there is even more gold than people know about. For example, the amount of gold in the deposit in the Bank of Hawaii is 170 000 tonnes, this is more than the World Gold Council says as available for all the gold on the Earth. People don’t know how much gold there is, there is a lot of gold.
SS:Are you buying gold?
KH: I did actually, yes. But not because it’s an investment but because I’m not 100% certain that we’re going to get to act together before all of the paper fiat currency falls apart. So I see it as an insurance but because of the amount of gold that’s actually around in the world in deposit all over the world, I’m not so sure it’s a great investment.
SS:So you think the return to the gold standard is a realistic thing? It could be a possibility?
KH: Well, actually, that’s not such a good thing. The currency ought to be backed by value, but there is no reason why it should be restricted to precious metals, it could be any of the commodities that are valuable. The important thing is that, yes, the currency should be backed by assets rather than by debt as we now have.
SS:But if a financial collapse happens , let’s say, will gold be of any use? I mean, there is shortage of food, look at the world today, the biggest problem we’re facing is a clean drinking water. What gold is going to do about that?
KH: First of all, I think that we’re going to manage together, act together, I’m not expecting a collapse. Very accurate game-theory model is showing that we’re going to manage to make a transition in a very smooth way, maybe there’ll be a few fits at start. I think most of the countries in the world are in favour of working together and not to have a collapse. The only thing that you’re saying is that some of these crooks haven’t figured out, they haven’t seen the writing on the wall, they haven’t seen that we understand that there is a way to work together and avoid these problems, which are definitely avoidable.
SS:So, Karen, you were a senior counsel at the World Bank. Tell me something, honest banking is this an oxymoron?
KH: No, we have examples all over the place in the United States, the state of North Dakota has its own state bank and many of the other states are looking at that – at the moment 22 other states are looking at it, and we’re urging the other 28 states to look at it. There was a bank in Amsterdam but I think went on for 300 years with no problem. We know how to do banking, it should be like infrastructure to support the economy, it shouldn’t be for the benefit of elites that think they are above the law as we currently have. If you look at the Bank for International Settlements (BIS), that institution was established when the war reparations were being exacted from Germany after the World War I. That when it was started in 1930 and I believe its 60 central banks, that are members of the BIS, those are the corporates, those are the ones that really needs to go out of business.
SS: You first blew the whistle over corruption in the World Bank. Tell us more about your revelations?
KH: Well, that’s actually what happened. I was working in the Philippines and there was a bank. This was at the end of the East Asia financial crisis in the end of the 1990s. The second largest bank in the Philippines, the Philippine National Bank, there was a loan to strenghten the banking sector and what happened was a man who own Philippine airlines, Lucio Tan, ended up buying more than 10% of the shares of the Philippine National Bank without informing the security authorities in the Philippines, that was against the law. And then I told the person who was in charge of the World Bank Lending Programme they should tell the government of the Philippines that the conditions of the loan were not going to be met. And instead I was reassigned and I didn’t accept that, so I went to the meeting where it was decided whether or not to disperse the loan and I said that the board was not being informed that the conditions were not met. And then what happened was the loan wasn’t dispersed but the people who had their money on deposit in that bank withdrew their money and the Philippine Deposit Insurance Corp. had to withdraw, had to back up the bank, for five hundred million dollars, and then we didn’t disperse our loan for two hundred million and the Japanese didn’t disperse their loan for two hundred million. So, that was nine hundred million dollars worth of a pure loan performance and when the evaluation department in the world bank said that the World Bank had performed satisfactorily, I corrected that report and my correction was never given to the board. That was a cover-up. You can’t have a cover-up in a bank – that shows that money is going the wrong way. I’ve been working together with other whistleblowers at the World Bank because we know that the board has to be informed about what’s actually going on. Other whistleblowers have reported double accounting, we reported this to the UK Parliament, I reported it to the European Parliament in 2011 and the European Parliament wrote the letter to the World Bank. I had a very detailed chronology, and the World Bank never responded. Then I’ve been reporting this to the US Congress and when the US Congress was asked to give a capital increase to the World Bank, they had asked for a government accountability office audit which never took place. I was reporting this to the International Organisation of Supreme Audit institutions and then I asked the board to require KPMG to do an auditof the World Bank Internal Controls. KPMG did not follow the auditing standards, I reported this to the public company accounting oversight board, I reported this to the ICC. But since the ICC couldn’t be bothered to sort out the insider trading for the Federal Reserve System, they certainly weren’t going to straighten out the bonds in the World Bank. So I borrowed world bank bond and I sued under the securities laws, and I also went to each and every Attorney-General in the States, and I told the States that they were responsible for making sure that there was accurate financial information going to the bond holders in their States, and I also went to the International Organisation of the Securities Commissioners. So, the World Bank has got to be brought into compliance and there has to be transparency in the capital markets, and the insider training of the Federal Reserve System is going to be history in short order.
SS: Do you feel safe after all these leaks, I mean you were fired?
KH: You know I have been working with some very wonderful whistleblowers; in particular, I’d like to mention Mark Novitsky who has been reporting about insider trading and inaccurate financial reporting for Teletech, which is a company that had been spying on American citizens. So, when whistleblowers work together, and compare notes and share information you get a very accurate picture. In addition, I’d like to mention Larry Harrison, who has been my PR guy. So when you have people who you’re working with it’s not so easy to shut the whistleblowers down, we just gain in strength. We ‘re going from strength to strength.
SS:Do you feel like you are being heard? Is anything changing?
KH: Well, that’s what I like to ask your audience.
SS:Do you feel like anything changing in the system by whistleblowing on it?
KH: Yes, I absolutely do. I think the number of people they are hearing my message and that are looking into this information, and everyday they are sending me e-mails. They are going out and they are getting their neighbours to find out what’s really going on. I don’t think this mainstream media is going to have too big of an audience at the rate we’re going.
SS:There are liberty movements that are actually picking up now, the likes of Bitcoin, for example. Can they ever grow into a solid rival to the conventional system?
KH: I think they’re going to be a force to be reckoned with, yes. It’s a matter of fact. There are other similar kinds of payment systems that are now gaining currency. Yes, I think we’re going to have a world where there’s a lot of choice and the legal tender is not going to be used to put people into debt and to imprison them.
SS:Are you using a Bitcoin as of now?
KH: That’s a good question. I’m trying to learn how. There is a conference that is taking place and I’m going to try to get myself sorted out on that.
SS:Karen, thank you very much for your time. That’s all for today. Our guest was a former insider at the World Bank, ex-senior counsel Karen Hudes. Thanks for watching and we will see next time here in SophieCo.
We have raised the alarm early on about the possible Jesuit infiltration in the global freedom movement. Only a few have noticed. We wholeheartedly understand why. We’re just a small fry in the muddy pond.
We have written several articles on how Jesuit infiltration could happen:
Recently, The Keenan Group have raised concern over the recent pronouncement of Ben Fulford that “P2 Freemasons want Pope Francis to be new M1, the controller of money.” Although this is not a categorical statement of agreement to the Jesuit agenda, still the telegraphing of that statement left a bad taste from a person who claimed to abhor Cabalistic behavior.
You cannot eat gold, but it is enhancing the speed at which all computer networks and stand-alone PCs processes their data. There are many aspects of the industry where this yellow metal has been serving well.
And maybe it’s time now to throw in some nuggets we have found along the way:
– John Bedini, in one of his free energy experiments, discovered accidentally that when copper wire is heated to 5000 C, it turns to a yellow metal. Verify if you must;
– Gold has also been found to be useful in the age old human pursuit for physical immortality.
Maybe these are the very reasons why free energy is violently suppressed and gold is actively regulated.
Why are we advocating for the recovery of the Asian Gold Bullion?
To finance the implementation of all suppressed technologies, for its responsible use and further development. A transition mechanism should be provided before we can effectively move into a resource based economic system. In fact, once the free energy system is put in place worldwide, RBE will be its natural consequence.
We don’t believe that anybody could just force the concept of the Venus Project down to everyone’s throat at this point in time. We need a transition mechanism which will provide the necessary education and psychological adjustment.
Notwithstanding, that It’s a lot better to put the safekeeping of this yellow metal back into the hands of its peaceful rightful owners rather than in the lap of the warmongers who sought to decimate every breathing soul on this planet.
Where do we go from here?
We will be, as we always have been, a filter in the alternative media, sifting through and try separating the wheat from the chaff in the alternative information that have been fed both by the true advocates for Truth and Lies.
The benefit of the doubt, or is it trust, that we’ve extended to the freedom movement players has limits, and we for the sake of fairness have extended these limits several times, but for Fulford, it’s been too much.
His repeated appearance at the Veterans Today, a sophisticated Jesuit psyops outfit unmasked by Pete Santilli, suggests he’s been sold out to the Dark Side for good.
When was the last time have you heard Ben Fulford utter the “J” word?
We don’t remember either.
Recently, we have posted three articles about how the Jesuits exploited Asia and my country:
This is a continuation of our series on the Illuminati’s conquest in Asia. We are running these articles in the hope of illuminating more on the nature of errors committed against Asians and why they must be corrected.
This is a very long article which will contradict Ben Fulford’s claim that:
“The conclusion is that there are no giant treasure caves in Indonesia or the Philippines and that the so-called global collateral accounts or global debt facility is based on fraud. What is true though, is that to this day, large amounts of un-usable dollars and Euros are printed, shrink-wrapped and left in warehouses in the region as “payment” for the gold taken from the region by Western powers in the 19th and 20th centuries.” more »
The Golden Lily loot widely known as the Yamashita Treasures is real. The Philippine Gold Bullion, 600,000 tons from our own gold mining industry is real, too, and separate from the Yamashita Treasures. Even at this point in time,the gold mine industry is still active especially at the Mount Diwalwal in Davao.
My own hometown is a victim of this attempt to recover a portion of the Golden Lily loot.
WW2 Veterans should know that at the closing of the war, when Gen Douglas McArthur did keep his immortal words “I shall return [for more gold].”, via the island of Leyte where the biggest naval battle in history was fought, the Japanese Imperial Army were forced to evacuate to the southernmost tip of the island, where Guinsaugon is located.
In 2006, Guinsaugon mudslide happened after 5 days of non-stop heavy rainfall. More than 3 days of heavy rainfall is never natural.
The mudslide was triggered by an incendiary bomb which according to witnesses, they saw white smoke and heard a loud explosion from the direction of what became the site of the landslide that took more than a thousand lives, mostly children in school and women who are celebrating women’s day unmindful of the fate that was coming.
The first article below is from Greg Szymanski as sourced from Bobby Limeta, a local historian from the National Museum who painstakingly researched the subject for the enlightenment of his fellow countrymen.
The second article is a successful attempt of the Jesuits to legitimize their claim on the Yamashita Treasure and our own assets held in our own Bangko Sentral with the willful cooperation of the CIA-installed political dynasty of the Aquino family. This is included here to illustrated that even the Jesuits themselves officially acknowledge the existence of the treasures.
The third article is just among the few mainstream accounts written about the 22 crates said to contain currency [gold bullion?] that were flown by the US Navy together with the Marcos family when they frantically fled to Hawaii in 1986 at the conclusion of the biggest People Power Revolution then.
We are hoping that these grave errors inflicted on all Asians be corrected through the help of The Keenan Group, and the rest of the world who do have a stake on the survival of this planet.
Confession No. 11: According to Philippine Man, Jesuit And Vatican Have Pilfered Trillions In Gold Owed To The People
by Greg Szymanski, July 02, 2006
Last Updated: Sunday, July 02, 2006 01:59:34 PM
Freedom fighter connects the dots back to Rome, as Americans better wake-up before the same thing happens here like is going on in the Philippines.
Bobby Limetaof the Philippines feels alone, abandoned and frightened for his life in his fight to expose the corrupt Jesuit Order.First and foremost, frightened for the safety of his family, he is considering a move to New Zealand, seeking safe haven from the persecution being dished out for his political views and exposure of Vatican corruption.
Limeta has previously contributed to these Sunday Confessions, shedding light on how the Jesuits are raping and pillaging the Philippines in hopes Americans wake up before the same thing happens here.
But now he comes forward in Confession No. 11 on the shores of Brushy Creek, telling about his personal experiences as well as sharing more shocking information about the Jesuits and their underhanded control of the Philippines.
What I will tell you now is a matter of life and death,? said Limeta.
My country has been for 485 years controlled by the Roman Catholic Church and of course the Jesuits are the masterminds. Our government is controlled by the Jesuits-Vatican and our country is one of their stronghold territories.Would you believe that our government’s secret operatives, controlled by the Jesuits-Vatican, can grab me inside my home using warrantless arrest and my family will never see me again, alive.
Is it bad or a sin to be a patriotic citizen of my beloved country? Is it bad or a sin to tell the truth and nothing but the truth?
You may ask me, why I’m angry to the Jesuits-Vatican (Roman Catholic hierarchy)? Well, what if I tell you that the Jesuits-Vatican of the Roman Catholic Church are the real thieves that looted the wealth of our nation.
It all started way back 1990 (16-years ago), I saw my countrymen become poorer and poorer, becoming innocent victims and betrayed. Only elite and rich families, influential politicians and show-biz personalities enjoy the good life. My country is dilapidated and now an impoverished nation. The poor are unable to get good medical care and treatment, for we do not have enough money. We the minority, middle-class and the poor also cannot get a high standard of education, simply because we don’t have money.
Simply, we are in debt to the World Bank & IMF loan system benefiting the rich. The interest alone is already killing millions of my countrymen, especially the poor. What World Bank and International Monetary Fund? These are owned by the Jesuits-Vatican !
Since 1990, I promised myself that I will find out the real culprits. It did not take me long to discover it was the Jesuits. Now below is what I’ve discovered and found out with supporting documents. Now, brace yourself as to what I’ve discovered and investigated that no politicians will even dare speak about it.
The Jesuits-Vatican initiated the Second 30 Years War (1914-1945). Yes, indeed our country was invaded and occupied by the Imperial Forces of Japan under Gen. Masaharu Homa. The Japanese Imperial forces had previously looted all the gold and treasures of the Far East, from China down to French Indo-China, from Singapore, Malaysia and finally bringing it to the Philippines when the Japanese started losing the war against the Allies.
As the US forces with air and naval superiority cut-off the Philippines link-up to mainland Japan, Gen. Tomoyuki Yamashita and his senior officers buried the looted gold in various parts of our country. After the war, some Jesuit-controlled OSS Agents and senior officials who are members of Knights of Malta began searching for the gold.
They included Rev Fr. Joes Antonio Diaz, Opus Dei, alias COL. SEVERINO SANTA ROMANA (OSS Agents called him Santy for short) together with Gen. Edward Lansdale and coordinated by Wild Bill Donovan,? all confirmed Knights of Malta of the Catholic Secret Brotherhood secret alliance along with the help of NAZI war criminals Franz Von Papen, Gen. Reinhard Ghelen, Heinrich Himmler.
Rev. Father Diaz alias Col. Santy and Gen. Edward Lansdale without showing any mercy then killed the Hukbalahak rebels. Why? Because the territories held by the rebels are the exact locations where Yamashita’s gold was buried. Not only that, Rev. Father Diaz, alias Col. Santy and his cohorts OSS Agents even tortured the personal driver of Gen. Yamashita to confess and reveal where the gold was actually buried. Major Ferdinand Marcos, who became senator and president of the Republic, also knew about it.
That’s why Rev. Father Diaz alias Col. Santy hired Marcos as his lawyer to bring out the recovered Yamashita’s looted Asian gold. However, by 1949 our people had accumulated 600,000 metric tons of gold deposited inside the vault of the Central Bank. This 600,000 metric tons of gold was different from the Yamashita’s looted gold. Hence, my countrymen are proud of it and legally speaking it’s our property. For decency, my countrymen will not claim the Asia’s looted gold by the Japanese Imperial Forces. What we are claiming is our country’s own gold deposited inside the vaults of the Central Bank.
In short, Yamashita’s looted Asian gold and our very own gold deposited inside the vaults of the central bank was brought out of our country by Rev. Father Diaz and traitor Ferdinand Marcos. The gold then was mixed together and deposited in various Jesuit-controlled illegal bank accounts in Switzerland and other banks. The illegal Nugan-Hand Bank of Australia operated CIA formerly OSS controlled by the Jesuits-Vatican helped in transporting other gold to Australia and then diverted into other countries. The Jesuits know it and they are watching as Rev. Father Diaz is a member of Opus Dei, all bagmen of the Jesuit-Vatican. I also discovered that Michael Hand of the Nugan-Hand Bank is a CIA Agent!?The most shocking revelation is this, when Marcos was still alive, he wrote a letter as his last will before he died that his looted wealth (our country?s wealth) will be entrusted to the Vatican Trust. His true color was revealed. Also former Catholic priest, Marcelino Tagle of Bataan said that Marcos always worked for the Vatican. Now, I see the whole scenario.
According to EJ & Doris J. Ekke documents revealing the hidden history of the gold the 400,000 metric tons of gold held in the vaults of the Central Bank would elevate the gold-based money supply in the Philippines to more than twice as much per person as the money supply in the U.S. and U.S. money is not backed by gold. If that much money, some 4 trillion dollars, were to be spent cleaning and fixing up the Philippines, think of what a paradise it would be.
The Roman Catholic Church disguised as religion from God and preaching the gospel of Jesus Christ as well as the Catholic Church-Jesuits-Vatican are GREAT LIARS AND HYPROCRITES. They have betrayed my countrymen now living in despair and poverty because the Jesuits-Vatican-Roman Catholic Church illegally looted our country’s gold. Anyone of my countrymen who will dispute me, I’ll take on in a manly and civilized debate. Anyone who hates the truth is against our Lord Jesus Christ. Anyone of my countrymen that will dispute this hidden history of our country will become ignorant to reality. There’s no mystery in an open mind. Remember God is truth and we shall worship God in the spirit and truth. Jesus Christ said, and the truth shall set us free.
Therefore, I accuse the Jesuit-Vatican of the Roman Catholic Church as the mastermind, culprits and guilty entities for the looting of our country’s wealth. And I as a legal citizen of my country has the right to demand in behalf of my countrymen under the protection of our God given Constitution and Bill Of Rights demanding the Roman Catholic Church to return the gold they have illegally looted.
I admit I’m angry to the Catholic Church as I saw my poor countrymen living in despair. Why did the Catholic Church betray my countrymen and our country? They (Catholic Church) came into our country and my countrymen embraced them honestly and with respect.I have in my possession 15 sheets of original photocopied documents linking Rev. Fr. Jose Antonio Diaz (Opus Dei) alias Col. Santa Romana (OSS Agent), Gen. Edward Lansdale, Ferdinand E. Marcos, the late Archbishop Of Manila Jaime Cardinal Sin and Baron Arndt Krupp for the looting of various gold and of course our country’s very own gold. And you’ll be shocked that the shadows and footprints of the Jesuits-Vatican will be realized once and for all.?
Greg Szymanski Greg also has his own daily show on the Republic Broadcast Network. Go to www.rbnlive.com Greg Szymanski is an independent investigative journalist and his articles can been seen at www.LewisNews.com. He also writes for American Free Press and has his own site www.arcticbeacon.comListen to my Radio Broadcast live Monday night at 8pm Pacific time on LewisNews, returning Jan. 1 2006 Radio http://webs.lewisnews.com/radio/index.htm. Greg is also regular on Rense.com the first Thursday of every month at 9-10 pm pacific time. – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –
Jesuits Stole Philippine Gold Reserves at Central Bank
Researcher And Historian Claims New World Order With Help From Vatican And Jesuits Are Destroying Philippines
Bobby G. Limeta says the same thing is happening in America, but observers claim media and government are protecting the real enemy.
2 Jun 2006
By Greg Szymanski
When it comes to nailing the real enemy in America, the suppression of speech and the free flow of information has become a joke.
And while the fat cats are laughing, the country has become a caldron of confusion, hatred and deception, leaving most good men shaking their heads at all the two-faced, back-stabbing cowards in positions of governmental and media power.
A 90-year-old reader former German from Blythe, California, who survived Stalin, Mussolini, Churchill, FDR and Hitler, put it well when he said: “I can’t even stomach listening or looking at Bush and his corrupt media friends. I felt the same way about Hitler and the same thing is happening here, but Americans are too fat and blind too care or see anything.”
So the search for America’s real enemy is deflected, side-tracked, derailed and stonewalled by the thousands of New World Order minions, protecting the big shots at the top.
With that in mind, to fight the New World Order, the enemy from within must first be exposed. And according to many good patriots, most of them silenced by the corrupted media, a discussion of the real enemy within, including the Illuminati and Zionists, is totally outrageous and incomplete without including the Vatican and the Jesuit Order.
However, every once in a blue moon a courageous man comes forward who is unafraid of the powerful evil forces protecting the Vatican and Jesuits. And every once in awhile a man steps forward with solid information, helping to connect the dots and helping Americans wade through the crock of horse manure spread out on the air waves and in Washington.
In this case, the man is historian Bobby G. Limeta of the Philippines, who has chronicled, studied and closely observed the Jesuit Order since 1990, saying:
“The Philippines was dilapidated, looted and now an impoverished nation because of the conspiracies made by some elite peoples, priests and nuns that are controlled by the Jesuits. Today, political crisis & intrigues, social agitations, street marches-protests-rallies, and rebellions are very common in the Republic of the Philippines. These arenas are the expertise of the Jesuit Order.”
Limeta, who closely monitors the nefarious activities of the so-called God-loving Society of Jesus in the Philippines, warns Americans if the Jesuits would have their dirty hands in destroying his country, they are doing the exact same thing in America.
“I also said it many times on my written articles that no other entities in the world could parallel the diabolic works of the Jesuits,” said Limeta, adding Americans are also being conned, duped and sold down the river by the cunning and deceptive Jesuits, hiding behind the cloak of the clergy and their third party governmental and business counterparts in crime.
So if the Jesuits and the Vatican are the spiritual controllers of the New World Order, why have they been given a free-ride in America to do whatever they want without even the slightest bit of attention?
Limeta and other researchers say they are protected by their third party governmental, business and media lackeys, allowing them to operate behind the scenes as the black robes of the clergy provide the perfect cover.
In an effort to expose what Limeta calls the “evil Jesuits,” he provides 18 points of reference concerning how the Jesuits actively are destroying the Philippines, saying this gives more than an adequate reason to investigate their activities in America:
Here is Limeta’s list concerning The Republic of the Philippines of The Jesuit Order:
1.The two people power Edsa Revolution are the works of the Jesuits. Overthrew two presidents “Ferdinand Marcos & Joseph Estrada.
2.President Gloria Macapagal Arroyo ‘GMA” is a Jesuit educated at the Jesuit owned Ateneo de Manila and Georgetown University (Fr. Edmund A. Walsh School Of Foreign Service).
3. GMA and Fr. Romeo Intengan (former Jesuit Provincial Superior In The Philippines) are sometimes having secret meetings at the Jesuit House in Quezon City, Manila.
4. Fr. Romeo Intengan is GMA’s spiritual and religious adviser.
5. GMA’s National Security Adviser Mr. Norberto Gonzales & Fr. Romeo Intengan are the founders of Partido Demokratiko Sosyalista Ng Pilipinas (PDSP) to combat Marcos regime.
6. The Jesuits introduced and brought the Theory of Liberation here in the Philippines. The same theology that havoc Nicaragua by the Sandinista Rebels. Because, of this Liberation Theology, there are now approximately 2,000 priest and nuns who are radicals and secretly supporting and associating themselves to the communist rebels in the Philippines. The same theology that resulted into the establishment of the Communist Party Of The Philippines – New Peoples Army (CPP-NPA) headed by Jose Maria Sison. Followed by the National Democratic Front (NDF) headed by Fr. Luis Jalandoni. Both these men are exiled in Netherlands.
7. Liberation Theology is being teach at the Jesuit owned Ateneo de Manila University under “Curriculum 141 Immersion Program”. The reason, many young students become very subversive against the Philippine government. This theology is the result of the creation of various anti-government militant organizations or groups “Communist Ideology.”
8. The Jesuits are the real master-minds of the terrorist movement known as the “Light A Fire Movement” during Marcos regime, as per confession by their former obedient follower named Mr. Ed Olaguer. Mr. Olaguer admitted that the Jesuits together with Mr. Norberto Gonzales are the people giving secret directives for planting bombs and arsons in various parts of the country during Marcos regime.
9. Another cohorts of the Jesuits is former president Cory Aquino who allowed Jesuit Fr. Joaquin Bernas to touched and amend our beloved 1987 Philippine constitution. Fr. Joaquin Bernas is Ateneo’s Constitutionalist.
10. The Jesuits are the educators of our past, recent and present leaders (Presidents, Senators, Congressman, Businessmen, Rich & Elite Families). Who are controlling the sideshow of Philippine politics and behind them are the Jesuits.
11. Ateneo de Manila University oversees government functions like Georgetown University. This university is the secret meeting place for political agendas where dark motives are planned.
12. Fr. Integan is member of the Transition Government Committee for the smooth transition of President Estrada for the new in-coming president of the republic “GMA”.
13. Both GMA and Norberto Gonzales are my pin-pointed Jesuit temporal co-adjutor.
14. Our Supreme Court Justices are members of the Knights Of Columbus. A Jesuit founded society. I call it “Philippine Supreme Court of the Knights Of Columbus by the Jesuit Order.
15. Two former senators and some in secret are members of the Jesuit’s arm “Opus Dei”.
16. OSS/CIA Agent Col. Severino Santa Romana a.k.a. Reverend Fr. Jose Antonio Diaz (Opus Dei) together with Atty. Ferdinand Marcos who become Philippine President and also one of their associate ex-priest Fr. Marcelino Tagle are the culprits in looting of Philippine gold out of the vaults of the Central Bank Of The Philippines.
17. Marcos friend Spanish-Filipino Mestizo Billionaire Don Enrique Zobel de Ayala, their idea to create a foundation for Marcos ill-gotten wealth. Who was the trustee, it was the Vatican Trust managed by Archbishop Bruno Torpiglianni (Papal Nuncio) and Fr. Alarcon of De La Salle University Jesuit Brothers.
18. Yesterday, former president Joseph Estrada strongly accused that his overthew legitimate government was done by conspiracy works of the following people. Fidel Ramos – former Philippine President Elite Businessmen Lopez & Ayala Rich Families. Some Military & Police Generals Jaime Cardinal Sin – the late Archbishop of Manila to include Cory Aquino and GMA’s husband, Miguel Arroyo.
I found this letter that was purportedly written by Conrado Limcaoco to ex-President Corazon Aquno about the Marcos Gold that was shipped all over the world. The amounts involved are staggering, mind boggling to say the least that I wanted to start a thread about this very important part of our history that is seldom discussed due to its sensitive nature and far reaching implications both for our country and the world’s monetary system at large. To start off the discussion here’s the letter which also appeared in Eric San Juan’s book “Marcos’ Legacy Revisited”. Fire away guys.
FOR YOUR EYES ONLY
10 October 1989
CORAZON C. AQUINO
President of the Philippines
Dear Mrs. President,
I have never waivered in my commitment to serve you and our people over the past few years. Even in our bleakest moments, I was confident we would triumph — and thus far, we have.
In the course of tracking down the right-wing military adventurists a task which is continuing, we have unearthed a story — parts of which you may have heard before — but which we feel deserves a serious second glance at this particular historical conjuncture. I ask you to please read through this report personally and not show or pass it on to other officials of this govemment until we have had the chance to meet, should you feel such a meeting is necessary after going through this. Please suspend your judgment and disbelief and know that this report was written after much in-depth intelligence work and soul-searching on my part.
Our work thus far supports the contention that the Yamashita treasure does exist and appears to be the basis for the Marcos’ hidden wealth. What has been recovered and sequestered to date is not even the tip of the proverbial iceberg.
Over 90% of the worlds legal and illegal gold production were in Asia at the outbreak of World War II. Why? History will tell us why. From the galleon trade where spices and silk were traded for gold and other precious metals to the days before World War II when the Europeans, fearing a war in the West, moved their gold to their Asian colonies and former colonies for safekeeping. Thus, England moved their gold to Malaysia, Singapore, Hong Kong and Australia -France to Vietnam, and so forth. The rest you know. The Japanese brought the gold here and had to leave it here as they retreated in defeat
From 1967 to 1973, Cipirino Garcia Sta. Romana found some of this gold and began shipping it out of the country mostly to the PROC. In 1973/4, Sta. Romana signed a power of attorney over the gold to Marcos. More of the treasure was found with the help of treasuro maps, foreign treasure hunters and the AFP (many of the retired generals now in Hawaii) in subsequent years. It was either (1) shipped out as is, (2) laundered via the Central Bank reminting facilities and through other means and then shipped out, or (3) reburied under the custodianship of trusted subalterns or heirs. Further, there reportedly is still 35-37% of the treasure still to be discovered — which the likes of Noel Soriano and company have set their eyes on.
II. The Global Implications
There is a forty (40) year period within which another country may claim treasure/property taken from it with another country. This period lapsed in November 1985.
An interesting question is — who owns the gold? Or better still — who wants the gold? Technically, now the people of the Philippines can lay some claim to the gold, assuming Marcos was not an innocent “finder” or “treasure hunter” entitled to a share, but instead used his position and influence to find it, ship it out, and even sell some of it. To answer the question —
The countries of Europe want the gold! They believe much of it was theirs to begin with. They want or need it so much they are even willing to buy some of it back. A 1983/84 sale we are reconstructing indicates that the 11 monarchs of Europe syndicated a deal involving over 120 banks with the Bank of England as the lead bank to buy back some of the gold. This transaction is known by the code JOB/HK/25 which I will detail later.
The 12 Asian countries conquered and plundered by Japan in World War II want the gold! They believe they have a stake in this as it was from their countries that the Japanese took it from. Marcos struck deals with many of these Asian countries. He shipped back some of the gold to them in return for a share in the booty. For example, the gold shipped back to Singapore, Malaysia, Indonesia, and India are reportedly split now at 70% of the particular country and 30% for Marcos. Japan allegedly has been promised 50% of Marcos 30% in these Asian settlements. Mrs. Yamashita has alleged shares in some of the gold stock in Asia. I will also detail this later in this report.
The United States of America wants some of the gold! The US had virtually no gold of its own to begin with. They need it to back their currency and to stave off economic difficulties. Marcos shipped large stocks of gold to the USA. Marcos allegedly committed to sell 300,000 metric tons of the gold to the US. Obviously, the Asian countries and the Europeans would look with displeasure at this — if they knew about it or could prove it We have evidence that at least 2 major sales were negotiated with CIA and US Treasury front organizations in 1983/4 and 1984/5. One of these transactions in 1984/5 codenamed YAB42 was apparently aborted because of a difference in payment terms. The US offered 20% in cash and 80% in US government securities.
Marcos wanted 80% in cash and 20% in securities. The amount involved is staggering. A taped conversation with one of the buyer negotiators indicate that senior executive officials of the US Government during the period had to get Congressional approval to increase the US foreign debt to accommodate this deal. As late as mid-1986, US officials were trying to convince Marcos to conclude the deal in Hawaii. In 1987, feelers from their front organizations — e.g., Navegacion Global’s Mr. Bullock were sent to this government (A letter from Mr. Bullock was received by Malacanang Records Office last October 8, 1987 and is enclosed as Annex A). I believe some of our people may have even sat with Mr Bullock. I do not think they knew what Bullock vas really up to — or understood or believed him if he told them. We allegedly have gold sitting in US depositories — which the US government wants badly. They reportedly cannot release their new “rainbow dollar” (multicolored dollar bills) that are already printed without this gold to back it up.
III. The Marcos Scheme of Things
Marcos compartmentalized this whole operation so that very few could piece it all together. We have managed to assemble quite a number of Marcos’ real operating people — those that shipped the gold out, found the buyers, negotiated the transactions We are slowy piecing the puzzle together.
For each Marcos account, whether in cash or in bullion, these are assigned trustees and signatories — some of whom do not even know each other. There are secret bank/depository arrangements such as access code and security countersigns.
Before his death, Marcos organized what is called THE UMBRELLA, a network of 54 people whose task is to manage these assets in the event of his death. In theory, the umbrella, not Mrs. Marcos or his children would execute his will. At least two members of the umbrella’s inner core of about one dozen are already working with us. The umbrella has never been tested in action before. Marcos has never died before. Those who now work with me tell me that the chairman of the umbrella is a very decent man who can be talked to on behalf of our nation. Apparently, there is no sharp cleavage between this group (family, heirs, followers, etc.) and Imelda’s. Most of what we know is FM’s not Imelda’s. It is doubtful that even she would know all of FM’s holdings. The destabilization efforts will most probably come from Imelda’s camp not surprisingly. Marcos is reported to have revised his will a few months before he died, asking former Solicitor General Estelito Mendoza to Hawaii for this purpose. Imelda was reportedly vehemently against the revision. We are trying, through the umbrella, to get a copy of this will.
Exactly how much gold is involved? The estimates vary, and understandably so because of the complex shipping procedures and the compartmentalized nature of the operation.
I have seen documents saying that the gold under the control of the umbrella (there are smaller stocks not reported to or controlled by the umbrella) is in the neighborhood of 1.33 million metric tons (MT). Whether one believes this figure or a lessor figure is not material given the magnitude of the entire scenario. One metric ton of gold is worth
about $11 million. The Philippines’ annual gold production is estimated at between 40-60 metric tons The world’s “legal” annual gold production, which is regulated by the London gold cartel so as not to upset gold prices as well as the value of currencies of the world, is estimated at between 1,200 to 1,400 metric tons.
So, where is the gold? How much of it have we traced thus far?
IV. Where Is It?
Our sources have pinpointed the locations, volume, and details of many of the Marcos and Imelda gold accounts around the world.
We have left out the volume figures for countries other than the United States which are relevant for understanding points raised in other sections of the report We do have the detailed breakdown of these other accounts in the other countries but thought it best to omit these for now. The volume/amounts involved are staggering and may be subject to misinterpretation There is admittedly a possibility in some instances of double-counting an entry because of the process of shipping and laundering the gold from one country to another. We can present the figures per country and per bank should you wish to see them.
Whatever volume figures are ultimately believed or proven, the magnitude remains astounding. The gold was shipped out in a span of more than a decade from the late sixties to the mid-eighties. In the later frenzied stages from 1983-85, all forms of transport were used from commercial and chartered ocean vessels and aircraft to the military aircraft of the Philippines.
1. PROC — in various depositories in Southern China & Switzerland; joint IRM/FM stock
— an amount allegedly given to Mao Tse Tung by IRM, 1973, now with Madam Mao
2. Singapore — in three banks in Singapore; banks and signatories identified
— an amount reportedly given to Lee Kuan Yew by IRM in 1975, now in Tatlee Bank, Singapore
3. Malaysia — in Bank Negara (Central bank), shipped 1973
4. Indonesia — in at least 4 banks in Jakarta, 9,600 MT sold in 1987 for FM to Union Bank of Switzerland
5. India — in various depositories; one 94 year-old trustee identified
6. Hong Kong — in 10 Hong Kong banks; banks, signatories, account numbers, etc. identified
7. Marianas — in private storage, IRM’s stock; trustee identified
8. Palau — in private storage, IRM’s stock, trustee identified
9. Philippines — 4,600 pieces, 75 kgs. in 18 identified banks in Metro Manila
— more in private storage, some identified
— more still to be dug up estimated at 400,000 MT
NOTES: Nos. 2, 3, 4, 5 & 6 which are FM stocks are probably covered by the 70-30 deal with each country. No. 1 still has to be studied further, as both IRM and Madame Mao are no longer in their respective nation’s political structures. Nos. 7 & 8 are also IRM stocks and are not probably covered by the 70-30 deal. Japan and Mrs. Yamashita have their stakes here as mentioned. Mrs. Yamashita is co-owner of some Hongkong stock (already identified). Japan may expect 50% of FM’s 30% in these Asian settlements.
A. US and Environs
1. 38,000 MT — various identified depository banks in New York
2. 72,000 MT — Fort Knox, account no. identified
3. 18,300 MT — in a New York bank; signatories, account codes identified
4. 62,000 MT — various identified depository banks; Canada, Nevada, California, and Panama
NOTES: These were shipped out covering a period of more than 10 years from 1973-1983, The MAFIA and the CIA helped ship it, including some monitored shipments through Clark Air Base. Nos. 1 & 2 formed the stock for the YAB42 transaction to be detailed later Nos. 3 & 4 were also being sold in 1983-1985. It is doubtful any of these transactions were actually consumated.
5. Bahamas — Banco Bahamas; trustee identified
6. Panama — Bank of Panama; possible 1983 sales through Navegacion Global’s Bullock
1. England — in 4 identified London depository banks; IRM’s stock
— shipped 1978-85, flown to and reminted in Switzerland, then on to London in GLD bars
2. Switzerland — in various depository banks, some banks and signatories identified
3. FRG — in various depositories in Luxembourg and Bonn
— Fabian Ver and Edna Camcam’s account, some lent to back up FRG’s currency
C. Africa — FM owns 40% of 4 leading gold mining and processing firms
V. Some Transactions Worth Looking At
We must differentiate between the movement of the stock, its ultimate destination, and its final disposition in the event it was sold. The movement often required numerous transit points and sometimes “laundering” services like those provided by Johnson Matthey reminting refineries in England and Switzerland or by the Golden Eagle reminting plant in Hong Kong and even possibly by our awn Central Bank refinery in Quezon City. The original form of the treasure was varied and often indicated their countries of origin — e.g. 75 kg., 91.33 kg. bars with various ‘hallmarks” like “Suhatra-Loyd,” a dragon, AAA, etc. Internationally, the 12.5 4 GLD or Good London Delivery bar is the recognized unit of gold that is numbered and registered in the London Commodity Computer by batches with indicated owners. These GLDs in batches are covered by Gold Bullion Certificates (GBCs) that are also registered in the London computer If GLDs are bought and sold, it is often not necessary to effect a, physical transfer of the stock but merely to credit and debit or swap equivalent currency or other GLDs or GBCs.
In 1983, FM gave the signal to start selling his gold in grand fashion. This was perhaps triggered by the unrest and re-awakening after 21 August. Literally hundreds of gold buyers, traders, brokers, and middlemen converged in Manila in the years 1983-85, FM issued “mandates” to select people to sell this gold for him (A sample of a “mandate” granted to a certain Konsehala Candelaria V. Santiago is enclosed as Annex B). Others managed to secure “sub-mandates” from the original mandate holders. Still others produced “fake mandates” that they used to con some buyers with to give them hefty advances. We have some of the real mandate holders working with us.
In passing, today there are over 160 gold buyers and brokers now in Manila reminiscent of the 1983-85 years anticipating gold sales by FM heirs or this governments representatives. I understand a few “looseleaf” pieces of 75 kg. bars have already been sold.
Three schemes to sell the gold were conceived in this period. First, the CB Treasury bills method where gold buyers agreed to purchase CB Treasury bills equivalent to the amount of gold they were buying. Then they would redeem these CB T-bills for gold upon maturity of these notes. Second, the loan method where buyers guarantee to lend the GRP money equivalent to the gold they were buying. Using this second method, it could well be that many of our debts are not really debts but are already paid for in gold. How else can one explain the seemingly easy credit FM enjoyed with the ADB, the WB, and the IMF and their prime banks? And this could explain the cavalier spending of these loan proceeds for personal ends. Our sources say that the very top echelon of the WB and the IMF know of this. Why are they now putting on the screws for our loans? Possibly because we have not concluded YAB42. Third, the direct sale, method where after a while the sheer magnitude of the gold being sold could no longer be sanitized by either of the two methods described earlier outright sales agreements gold were negotiated.
We have a good deal of documentary evidence to prove that gold transactions were indeed negotiated by front organizations as well as legitimate banks in those years.
To highlight a few…
1. The YAB42 transaction. This was negotiated in late 1984, early 1985. As reported, this was initiated by the US government through the US Treasury and the CIA. Front organizations; and personalities were used to make the deal ostensibly a non-governmental transaction. Dr. Ole Bay (YAB is BAY backwards) was the main trustee of the buyers’ group (A Trust Exchange Agreement and a Funding Trust Pay Order between seller and buyer in transaction code YAB42 are enclosed as Annex C). Navegacion Global SA, Dupont, and other CIA conduits were used.
Forty-two (42) other major trusts were tapped to help fund this purchase. Senior US officials even called FM to confirm the veracity of the mandate holder negotiating for “the seller.” Close to 100 prime banks pledged their participation in helping fund the purchase. The US offered 20% cash or $200 billion through these trusts and banks and 80% in US government securities. Using the $200 billion cash as 20% of the transaction, this transaction would then involve 110,000 MT or over $1 trillion. The stock for this transaction appears to be the 38,000 MT in New York and the 72,000 MT in Ft. Knox which total exactly 110,000 MT. In June 1986, US government representatives reportedly asked FM to conclude YAB42 and turn over the 72,000 MT in Ft. Knox He declined. Earlier, FM signed over the 38,000 MT in New York which the US government found insufficient. In 1987, Navegacion Global’s Bruce Bullock tried to make contact with this government, possibly to conclude this transaction.
2. In 1983-84, we have evidence of another transaction involving a minimum 62,000 MT up to a maximum of 81,000 MT negotiated with Frank Higdon, another reported CIA intermediary (Investment loans offered to the Philippine Government which is repayable with 62,321 MT of gold bars is enclosed as Annex D). The stock for this appears to be the 62,000 MT in 4 locations in mainland America plus the 18,300 MT in Citibank, New York. It is doubtful this transaction was consummated as these stocks have reportedly been recently verified to still be in place.
3. The JOB/HK/25 transaction. In 1983-84, 29,327 MT was reportedly sold to the 11 monarchs of Europe with over 120 prime banks participating with the Bank of England as the lead buyer’s bank. The proceeds are allegedly sitting in ledger credits to the seller in the seller’s banks and even in some buyer banks. The PNB Singapore and New York branches were actively involved in this transaction and the key officers of these banks then can reportedly identify where these seller credits are located. In commissions alone, there is a reported P200 B/$10 B commission for the transaction’s brokers credited to the PNB through the CB sent from the Chemical Bank of New York. There is an additional $63 million in commissions for this transaction at the AMEX Bank in Hong Kong. The brokers who are claiming these commissions are with us providing us information on this deal and are willing to negotiate with this government
4. The Central Bank of the Philippines may not be able to balance their books as far as gold is concerned. A July report by a senior Central Bank official to the PCGG prompted by preliminary information on this project we passed on to the PCGG does not reconcile with other CB data we have on gold transactions for the 1984-85 period alone.
Further, our sources say that there is at least 5,000 MT of gold in the CB vaults in Manila and Quezon City. A recent Chronicle article indicates that COA may be getting some wind of this (The newspapers reports that Central Bank has violated audit standards such as under-recording of its actual gold acquisitions and the same is enclosed as Annex E). We have the GBC number of this gold in the CB vaults. Our sources say that senior CB officials may have begun to cover their tracks by moving the gold out or logging it under someone else’s account number. Very simple, let us conduct a surprise physical count of the gold in both CB vaults. If this is true, without working on the rest of what we have uncovered, then this government will be richer by, $55 billion.
The original GBC was for seven sub-lots of 1,000 MT each. Sub lots 2 and 4 have already been disposed of leaving a balance 5,000 MT. Remember, our total annual gold production is only 60 MT and our declared gold reserves are possibly only in hundreds of metric tons.
5. We have evidence to support October 1983 transaction of 1,000 MT of FM gold deposited at a PCIB branch under FM trustee Alice Lazo (deceased). The buyer was Mr. Van Dreck of a organization called MERCANTUS (A PC Bank offer to sell gold to Mercantus International Establishment and an irrevocable Purchase Order by the latter are enclosed as Annex F). What business does a local bank have keeping and selling 1,000 MT of gold? Apparently, this transaction was consumated.
These are but some of the transactions we have been able to piece together We do have some documentary evidence, but our main sources are testimonies from the people who were actually involved in these transactions who are now cooperating with us.
VI. Evaluation and Assessment
We have substantial documentation that by their sheer volume indicate these gold transactions did take place.
More important, we now have in our protective custody, key actors that actually helped FM on an operational level. Their testimonies have helped us piece this extremely complex puzzle together. More importantly, they are Wiling to assist in the recovery effort of the government. They are key actors — trustees, part-owners, signatories, umbrella members who could be vital in “unlocking” these accounts.
Why are they helping us? Partly out of a sense of patriotism. They are not rich — many of their relatives are impoverished. They believe that it would be criminal to allow the nation to suffer in economic deprivation when something can be done relatively quickly to correct it. Quite frankly, they also hope for a just reward to be granted by this government for their assistance together with the necessary immunities from suit and documents to allow them to spend their reward or commission. This is one of the aspects needing your approval — the amounts or percentages should be negotiated on a case to case basis depending on the assistance given and the amount to be recovered.
They have put their trust in me for the moment. Loyal FM and IRM henchmen would definitely not look kindly on their efforts to assist us.
We would have proceeded to develop this project further except that certain factors compelled me to bring this matter to your attention now.
First, FM died — unleashing a host of now unpredictable events that may make purposive action on our end moot and academic. What was in his will? Will the umbrella or can the umbrella execute his will? What will IRM and his other relatives do? What will the host of account trustees and signatories do? What will the banks and depositories do? We are trying to ascertain the answers to some of these questions.
Second, the project has grown to a scope now requiring your knowledge, and to use an FM term, your “mandate” to proceed in directions you agree with. I am not funded for an operation of this scope. To develop this project to this point has cost nearly P300,000 of borrowed money. We now have our “assets” in various safehouses and lodging areas. Soon, one of our “assets’ will go abroad to contact the umbrella’s chairman to check the contents of FM’s will and his willingness to help our government and our people. I am totally loyal to our people’s interest through you and word may get to you from other sources that I am in touch with “loyalists.” I need you to know what it is I am doing.
Third, you are scheduled to take your second state visit to the US next month. Some of our information may have impact on that visit. At the very least, you are appraised of what we have gathered to fathom any subtle messages that the US officials may send to you. At most, we may be able to put together enough conclusive data to allow you to bring the matter up to President Bush, if not in November at some other opportune moment.
What do we have as far as the recovery of FM’s ill-gotten wealth? A few hundred million dollars from deals with overt FM cronies the sale of some identified FM assets (buildings, paintings, and other properties) and court cases here, in Switzerland, and in the United States.
Lately, there are those who propose a “master settlement” approach, meaning one negotiation with possibly IRM or the representatives FM. This “master settlement” may involve the return of FM’s remains and/or some of his exiled relatives and henchmen. I agree with these conditions should be rejected at the moment for national security reasons. Also, one negotiation will not work because those that propose it are at best making “educated guesses” about the amount of the ill-gotten wealth that is the basis for negotiation. The PCGG has even recently proposed, holding public discussion groups to try to get more information on the whereabouts of the wealth and amounts involved.
Lastly, it is doubtful that IRM or any one of the FM heirs would know all or even most of his wealth much less make a full disclosure of what little they may know during these negotiations. A “master settlement” on the wealth by those that propose it presently may not result in a fair deal for our government
On the other hand, negotiated settlements on a case to case basis based on more precise intelligence information and with the cooperation of the principals involved (the trustees, banks/depositors) in a given case or account may lead to faster and fairer results for our government The ex-FM operatives we are talking to are not politically motivated and place no political pre-conditions (e.g. the return of FM’s remains or relatives) on assisting us.
Even if a fraction of what we have uncovered is true, moving on it correctly and recovering some of it for our people could alter the course of our history.
VII. Proposed Courses of Action and Vital Considerations
1. Agree to a detailed presentation only to you or what we have uncovered to date.
2. Allow us to continue the project to pinpoint concrete action proposals for your approval.
In this regard, a reporting/feed back mechanism directly to you must be set up. Some funding support is also needed even at this preparatory stage.
3. The concrete action proposals will probably take the form of proposed negotiated settlements with the parties involved aimed at recovering FM’s share for our government and our people. Each negotiated settlement will be different in nature. Some may even be on a country to country basis, requiring your direct intervention ( e.g. the US and some of the Asian countries). Most will be between specific banks, trustees, and signatories and our government. I will detail some possible negotiated settlement formulas when we get to meet
4. There are some action proposals that can be done here immediately like the Central Bank gold and the PNB/CB sale proceeds and commissions outlined earlier. Due to the sensitive nature of these actions and the possible involvement of senior officials of this and the previous government, I propose we discuss this in private.
5. On the local front, some of the trustees/owners/caretakers of the gold already discovered but stored here in our country have come to me to explore the possibilities of negotiated settlements. Initially, some 3,000 MT of gold has been offered. I have been told, if this succeeds, there is much more. I have asked that they bring me proof positive — gold bars to show you and a visit by me to the site of the gold stockpile — before I bring this matter up to you for your consideration.
6. In all negotiated settlements, we must exact a commitment and activate a monitoring mechanism to ensure that the monies released to parties other than our government are not used to destabilize our government
7. Trust is a vital dimension to this undertaking! Our newfound “partners” — the FM trustees, signatories, and caretakers have placed their trust in this government through me and you — whom they believe I report to directly. Some of them have had “sad experiences” with others in our government, the details of which I would rather discuss privately. I ask in turn for your continued trust and guidance without which we cannot proceed with this task nor hope to succeed. Greater men than I have risked their names and reputations on parts of this puzzle — some have failed, others have had dubious interests at heart. I find myself in a situation where I must try to see this through its conclusions — because success means a better life for all of us.
CONRADO A. LIMCAOCO, JR.
NOTE- The small stocks being referred to here by Mr. Limcaoco are actually the so-called unrecorded accounts of Imelda and FM’s children. I was earlier told by one trustee that some of these smaller stocks were a part of Mrs-Marcos’ compromise deal with the US. Government, in exchange for her acquittal in the New York court.
The photocopy of Mr. Limcaoco’s letter to Pres. Cory Aquino was given to me by a RAM officer who is now living, in the U.S.A. and had a role to play among Col. Red Kapunan’s group who took over Channel 4 at the height of the 1989 RAM-SFP-YOU coup d’etat. Some concerned citizens at hotel coffee shops have circulated other similar photocopies.
Even the defunct Newsday dated February 27, 1990 printed the same.
Limcaoco’s Gold Recovery Program had successfully controlled the part of the Marcos gold specifically that taken from the Napindan Channel. This was the very reason why the Yellow Army particularly saw to it that Channel 4 should be the first target area to recover. The barricades erected surrounding the TV station’s perimeter were dismantled only after “the loot” had been successfully brought out and transferred to “safer” ground. Thus, the persuasion flight of the U. S. Phantom Jet.
At this point, I would like to reiterate the misconception that the Marcos gold was the Yamashita treasure. The mere mention of Sta. Romana’s name and other long existing gold accounts as having never been moved until the time Marcos gained control over them, including those at Fort Knox, strongly confirms that the Marcos gold had been successfully amassed from different sources.
Just in case you’re curious about the background of Hon. Conrado Limcaoco, here’s a few of his accomplishments;
* Network general Manager & CEO, People’s Television Network, Inc. (PTV4)
o Got PTV 4 its congressional corporate charter and seed capitalization
o Won for PTV 4 the CMMA award for Best Station with Balanced Programming Three Years in a row
o Managed PTV 4 for seven years without government subsidy
o Negotiated a French government protocol giving PTV4 state of the art equipment from the ground up
o Built a new building and transmission tower for PTV 4
* Chairman of the Board & General Manager – CEO, LagunaLake Development Authority (LLDA)
o Decreased fish pens from over 30,000 hectares to less than 10,000 from 1986-1987 to give small fishermen more fishing areas and allow the lake to recover from the excessive strain on its resources and carrying capacity.
o Implemented environmental protection laws for the lake and its watershed. This resulted in first ever closure of a firm for violation of pollution laws in the Philippines, Rizal Cement in Binangonan. Many other violators were subsequently investigated and meted penalties from closure to severe fines.
* Chair, Management Committee & CEO, Philippine Broadcasting Service, The Bureau of Broadcasts. (Radyo ng Bayan & all government radio stations)
o Re-organized government radio making it more responsive and efficient.
* Consultant, Radio Television Malacañang (RTVM)
o Conceptualized and helped manage the weekly TV and radio program of Fmr. Presidnet Aquino originally titled Magtanong sa Pangulo
o Assisted in planning, advanced party work, and management of the pooled media coverage for foreign trips of Fmr. President Aquino to the ASEAN countries, the United States of America, and Europe.
* Consultant, Philippine Information Agency (PIA)
* Consultant to the Governor of Laguna province, the late Felicisino T. San Luis
o Assisted in planning provincial development agenda helping make Laguna one of the most prosperous provinces.
* Chairman & CEO, Shear Philippines, Inc (SPI), a medium-scale export oriented garments firms with about 1000 sewing machines.
Philippines Sues To Get Cash Crates From Marcos Luggage
March 04, 1986|By Anne Keegan, Chicago Tribune.
HONOLULU — The new Philippine government filed suit Monday for the return of 22 crates brought to Hawaii by deposed President Ferdinand Marcos, which U.S. officials admit contain Philippine currency.
The crates were flown to Honolulu on a U.S. C-141 cargo plane soon after Marcos and his entourage fled the country.
Attorney C. Michael Hare, representing the Philippine Ministry of Finance and the Central Bank of the Philippines, filed suit against Marcos Monday in federal District Court here seeking the return of the contents of the crates. He also asked for a temporary injunction preventing Marcos and anyone in his party from having access to the crates or their contents. He contended the cargo was illegally taken out of the Philippines when Marcos fled.
According to Philippine law, authorization from the central bank is required to take out more than 500 pesos. No such authorization was given, according to the suit.
In court, Assistant U.S. Atty. John Peyton, representing the U.S. Customs Service, agreed the contents of the crates would not be released for two weeks. He also agreed to provide attorneys for the Central Bank of the Philippines with a detailed inventory of the crates` contents by Friday.
“And is there currency in those closed crates?“ asked Judge Richard Fong.
“Yes,“ replied Peyton.
The 22 crates are sitting in the cargo plane under guard, isolated on a runway at Hickam Air Force Base.
The plane, purportedly bringing in “personal belongings“ for the Marcos family and their entourage, who carried only hand luggage when they fled, arrived here at 11 p.m. Thursday–12 hours after the Marcos party set foot on Hawaiian soil.
“This is the first public and official admission that the crates do contain Philippine currency,“ said attorney Hare. “And in terms of the provisions of Philippine law that you can only take out 500 pesos from the country, we know if there are 22 crates there`s no way it`s under 500 pesos.“ According to printed reports, Reagan administration officials have said the impounded crates include millions of dollars` worth of freshly printed pesos and negotiable securities.
In New York, meanwhile, a judge froze $350 million in New York properties believed owned by Marcos in the first step of a legal fight to recover
“wealth that properly belongs to the Philippine people,“ lawyers said Monday.
Lawyers working for Philippine President Corazon Aquino filed suit in Manhattan against Marcos, his wife, Imelda, and 20 other people and corporations in order to recover the holdings, including a palatial Long Island estate.
The lawyers at the Center for Constitutional Rights are representing Aquino without fee. They claim Marcos has $7 billion in holdings in the United States, $350 million of which is in New York City and on Long Island.
They obtained a temporary restraining order from state Supreme Court Justice Elliot Wilk late Sunday forbidding the property to be sold until the dispute over ownership is decided.