NOW IT’S FILIPINO BEARER BONDS: A CLOSER LOOK: PART FIVE: A ...April 17, 2012
I have noted in the previous sections of this miniseries the peculiar resemblance of the Filipino Bearer Bond scandal to the subsequent Spanish and Italian Bearer Bonds scandals. But there is more information out there about this, and it appears here:
Here we note the following things:
1) the Filipino version of the scandal clearly has a connection to China via Hong Kong;
2) it was perpetrated in part by an individual claiming to be a son of former Philippine President Ferdinand Marcos;
3) this individual was prosecuted and sentenced to a prison term for his part in a gold certificate forgery scheme.
It is this fact that sets the Filipino incident squarely in line with the Spanish and Italian bearer bonds scandals, as in the Spanish case arrests were also made and prosecutions are planned. Note that the imposter eldest son of Ferdinand Marcos claimed ownership of billions of dollars' worth of gold, an amount that again raises the question of where all that gold is coming from (General Yamashita anyone?) As the posts on the website linked above indicate, other individuals claiming partial ownership in the faked gold certificates were arrested and released, and suspiciously, neither the prosecutors nor the FBI ever indicated where the certificate were counterfeited nor by whom.
That fact should give us pause, for at the minimum it means that it is very likely that this whole counterfeiting scheme remains of concern to US authorities (justifiably so!), but more importantly, it could also mean that secrets are still being kept about a vast and secret system of finance that the allegedly forged securities represent.... and that remains my inclination.
See you on the flip side...