MIF and Marcos’ wealth

By: Jun Ledesma

If indeed the wealth exists as some local and foreign critics assert, then who else would be the custodian?

What do you know? Pres. Ferdinand “Bongbong” Marcos, Jr. is making a lot of surprises recently.

He is giving substance to the campaign pledge the Unity Team made that there will be continuity of programs in the leadership transition from former President Rodrigo R. Duterte to the Marcos administration. Carlito Galvez is now Secretary of the Department of National Defense and former Department of the Interior and Local Government Sec. Eduardo Año replaced Prof. Clarita Carlos as National Security Adviser. 

Another unexpected move is PBBM’s announcement that he will launch the controversial Maharlika Investment Fund in Davos Switzerland during the World Economic forum.

 

MIF has stirred the hornets’ nest after critics pointed out that it will be drawing out its seed money from SSS and GSIS members’ contributions. In my previous column, I downplayed this allegation citing the indubitable fact that the two agencies play in the investment market to be able to generate income to meet the mounting obligations to their members.

 

I must confess that I had toyed with the possibility that President Bongbong, in creating the MIF, might have come to a decision that now is the time to share with the Filipino people 90 percent of Marcos’s hidden wealth consisting, in part, of 7,000 tons of gold.

I am not guessing this. Former First Lady Imelda Marcos and the late Doy Laurel said so. Former president Cory Aquino and her American advisers, however, stonewalled this fearing it might impact her feeble dictatorial leadership.

But I have not dismissed this. If the Golden Buddha was real, then why not the tons of gold? Besides, Laurel’s credibility has never been questioned and FL Imelda confessing her knowledge of tons of gold is not by sheer folly.

 

If indeed the wealth exists as some local and foreign critics assert, then who else would be the custodian? Naturally, the one who is not only an heir to the wealth but the name of the much-maligned Pres. Ferdinand E. Marcos. Sr.

 

Was it really necessary for President Bongbong Marcos to fly, AGAIN, out of the country and all places in Switzerland? And here lies the clue where Marcos’s treasure is hidden.

 

You guess it right. Switzerland has always been considered a haven of wealth and financial security and it does not distinguish nationalities. Is Marcos’s hidden wealth parked there? If others do, what should deter Marcos from keeping his wealth there?

This is a crazy thought, but what if Junior who is now President of the Philippines will declare that he is placing or investing 90 percent of Marcos’s wealth in the MIF will not that be earthshaking?

 

Because it is with MIF, not any Tom, Dick, and Harry can mess with the fund. Imagine if SSS and GSIS are part of that massive wealth. Will not the pensioners like me receive twice the benefits we get to survive the soaring inflation? My take is that Marcos had wanted SSS and GSIS among the investors because the members are the mainstream working forces of the country.

Nangangarap lang (just wishful thinking)… but who knows? PBBM is capable of coming out with surprises!