Marcos Gold Bullion and Fake Gold Bullion Certificates, PCGG

[MasKara]

Any GBC to published? or Marcos Gold Bullion related stories and PCGG?

Pedro Palafox Laurel a Treasure hunter, who found Gold and then worked out a deal with the Former President Ferdinand E. Marcos, where he would turn over the gold he found to Marcos who would work out getting it out of the Country and then give a share of the gold that would at that point be in a foreign country. On that basis Marcos gave him as his share of gold Marcos had deposited in UBS using Lincoln Bank and Trust and Bengal Trading Limited as the Agent with the following certificate numbers: 11833,11833-1,11833-2,11833-3,11833-4,11833-.

Mother Account at UBS is comprised of bullion account numbers for different owners, but this principal mother account was in the name of former President Ferdinand E. Marcos for convenience purposes. Gold in the Philippines is under strict control by the Central Bank, and in the 1970’s and 80”s it was prohibited for individuals to own any quantity of Gold. They had to surrender/sell it to Central Bank. The only way to circumvent that was through the Office of the President, where he would get a cut and the [ Finder ] would get a share..

[MasKara]

These are just a few of my collections. Although PCGG took it seriously We have proven it was fake. Then some people tried to make money out of it.
For your Eyes only.

[zan]

I just had one of these presented to me.  Here is what the Isle of Man Public Services website has to say:

   http://www.gov.im/lib/docs/fsc/PublicWarnings/bengal.PDF

[MasKara]

Zan, you did your homework, but the real truth is the gold certificates that Marcos assigned to trustees are real but they did not realized that they can't claim or redeem it themselves they need 2- co signatory and a secret code that Marcos place in case the trustees tried to redeem without his knowledge.. After Marcos regime was overthrown in 1986 all these certificates where not renewed, after the maturity date they revert back automatically to the mother account and because the real owner (Ferdinand Marcos) is gone the banks took over these assets and denied they exist.
So some trustees and cons resorted to just use those certificate for fraud instead and sold it to investors like the Bengal Trading. More copies where reproduced for same purpose.

This is what other TH can't understand, that there should only be a limit that gold should be declared by the banks and other Government entities in order to control the value of gold in the world market. Without regulations gold will be devalued and this will affect each countries currency which are back up by their gold deposits.

Like Marcos his gold deposits where not converted to cash but all are documented to gold certificates and these gold certificates will never be cash out but instead these will be use solely for financial instrument.

If you are YTH and have bullions of gold ready for hauling, there is no way that you can be paid in cash or worst your gold bullion will even be sold, unless you will accept a gold certificate which in reality after having these certificates the banks will never allow you to see the day light out of it. Like Ferdinand Marcos.

The only practical way is to sell your gold bar one bar at a time then you are guaranteed you'll be paid in cash. 6.2 kg bar each year is a lot of money to keep you going each year. Imagine if you have 20 pcs of 6.2kg you are guaranteed for 20 yrs of wealth or more.

My advised be practical and leave happy.

[Gboy]

maskara,

Of course, we treasure hunters if we have big vol treasure, are not stupid enough to convert our physical gold into a piece of paper like GBC....ano sila sinuswerte? syempre paunti2 ang pagbenta nyan.