The Fraudulent Last Will and Testament of Ferdinand Marcos

For the past few years there has been a purported Last Will and Testament of Ferdinand Marcos floating around the Internet. This will alleges that Marcos had come into possession of bazillions of dollars worth of gold and bequeathed it to the Filipino people. In this article I want to examine that document and see what it actually says and determine its authenticity.

This will was transcribed by a blogger known as American Kabuki. He claims he had the files on his computer for a long time but only recently, in 2013, had he come to understand what they meant. The original document is 3 pages long and thankfully he uploaded it to Scribd along with his transcription. Here is the original document.

This alleged will was uploaded in 2013 by American Kabuki to his now defunct blogspot page as well as to Scribd. Here is what he has to say about it.

American Kabuki: I typed this in by hand using the orginal PDF I had plus some images I enhanced in photoshop to bring out some of the text details. I don't guarantee I have all the zeros correct in some of these numbers but I did my best to get them right. What little text I could not decypher I left as "[unclear]" for each instance of word that was illegible due to the UN Mail Room stamp. This PDF has been on my hard drive for years, but I didn't have a context for it until now. The bank code names meant nothing to me when I first got it. The PDF I had follows this and is hard to read. 1/31/13

https://www.scribd.com/doc/123294713/Last-Will-and-Testament-of-Ferdinand-Marcos-President-of-the-Philippines

You can read the full transcription at this link as you do not need to sign up like you must do for Scribd. It certainly looks authentic. It has an official United Nations mailroom stamp. But why would the United Nations have a copy of the Last Will and Testament of Ferdinand Marcos? It really does appear to be an official stamp. If you Google the name of the guy on the stamp other documents show up. His name is Ren Abella. 

https://info.undp.org/docs/pdc/Documents/PHL/SAE.pdf

Compare that to the stamp on this alleged will.

The signature is the same but it's a totally different stamp. Granted the first stamp is from 2013 while the bottom stamp appears to be from 2007. The stamp could have changed in 6 years. But then why would this document show up in 2007 at the UN when it was signed in 1988? How did this document make its way from Buckingham Palace to the United Nations to the computer of American Kabuki? In fact this alleged will was first uploaded to Rumor Mill News in 2010. How did they get it?

Really the most damning part of this document is the actual content which, except for the gold, no one seems to ever mention when discussing it. There are four parts to this document and I am going to go through each one.

1. Assets

This includes both bank accounts and land holdings. There are three bank accounts listed. First let me tell you what a Googolplex is.  It is the number 10 followed by 200 zeroes. This is very important because the first bank account is 120 followed by 72 zeroes, the second bank account is 800 followed by 210 zeroes, and the third bank account is represented by the infinity symbol!

No bank account is worth an infinite amount of dollars!!!  This is laughable on its face but there is more to come.

2. History

The second part of this Last Will and Testament is a history. Why a history lesson would be in a Last Will and Testament is beyond my ken but this history is really amazing.  Very fantastical. I am going to give a summation of this history but I encourage you to read it. One thing though should be noted and that is there is little to no punctuation in this document. It is practically one long run-on sentence. Would an official Last Will and Testament have such bad grammar? Of course not.

A long time ago King Bernardo Carpio traded with foreigners. The Philippines was a very rich nation with many gold, platinum, and diamond mines. Carpio bequeathed all of these treasures to the Filipino people and left a woman, Maria Banahaw, as the caretaker of these treasures. She lived in Mt. Kanalon. On March 16th 1565 Legazpi recovered some of Carpio's treasures. Later Dr. Jose Rizal met the spiritual successor of Maria Banahaw. She gave him the Alpha and Omega ring which comes from the time of Adam. He was tasked with retrieving some documents of King Beranrdo Carpio which were being held in China by Emperor Guaugxu. He succeed in his quest but was ultimately executed at Bagumbayan, now know as Lunia. His death is what sparked the revolution. Then the Philippines was illegally sold by the Spanish and Aguinaldo. 

Later Judge Alfonso Pijao entrusted Marcos with the Presidency and retrieving the treasures of King Bernarod Carpio. In 1976 Ferdinand Marcos bought the Philippines for 100 million dollars and President Gerald Ford acquiesced. Later Marcos would make an agreement with Queen Elizabeth II and give her the Alpha-Omega ring and make an agreement with the Committee of 300 at the UN. Then Cory Aquino won the Presidency through fraud without knowing the commission given to Marcos by Judge Alfonso Pijao.

Now, does any of that sound true? No it doesn't. Nothing in that history is true. 

3. General Intention

All the money is to be used for various programs for the good of Filipinos. Several programs are listed.

4. Abolition

This section says Bong Bong Marcos died in 1975 and was replaced by an impostor. Funny enough this is actually a Philippine urban legend.

http://philurbanlegends.blogspot.com/2012/02/true-bongbong-marcos-is-already-dead.html

According to rumors, Bongbong Marcos was already dead, and the person we can see sitting in the Senate is only a clone of 'him'. The legend spread in late 1970s and in early 1980's. 

No one knows who spread the legend or where this story came from, but the fact that the dictatorship of Ferdinand Marcos is powerful and eminent, and the declaration of Martial Law added much supremacy to his rule, people will eventually be scared. Thus, possibly the urban legend is in political nature.

That article is very uninformative but the comments are golden!

well my uncle and aunt confirmed it was true but in a different story...they said that bongbong raped and accidentally killed a princess somewhere in the middle east and to avoid conflict marcos sr surrendered bongbong to the princess father only to be prosecuted and sentenced with death...

Imagine if that was true. Imagine if Bongbong raped and killed a Middle Eastern princess and Marocs turned him over to her father to avoid conflict and then they executed him. It's easy if you try.

5. Acknowledgment

This section names Anthony Santiago Martin, who is also known by his codename Spiritual Wonder Boy, as the executor of the will.

There is no way anyone can read this document and think it is real. For instance consider King Bernardo Carpio. That guy is a mythical figure who is the cause of all the earthquakes in this country.

https://en.wikipedia.org/wiki/Bernardo_Carpio

Bernardo Carpio is a legendary figure in Philippine mythology who is said to be the cause of earthquakes. There are numerous versions of this tale. Some versions say Bernardo Carpio is a giant, as supported by the enormous footsteps he has reputedly left behind in the mountains of Montalban.

The document even references this!

Foreign Invaders thru Mongolia and Chinese Counterparts were retrieved some remaining papers left by King Carpio stating that before he offered Sacrifice to block and hinder Rolling Stones in Mt. Sierra in the town of Montalban and a nearby town of Rodriguez, Rizal Province

The document even references Adolf Hitler and tells us who his real father was.

Adolph Hitler, son of Ignacio Enrique Coronado

To top it all off and as a nice finishing touch this document says it was signed on December 20th, 1988 at Buckingham Palace!! 

In witness and faith whereof, we have hereunto signed this Form without any witness this December 20, 1988 at the Buckingham Palace, London, Great Britain.

Ferdinand Marcos signed his Last Will and Testament without the presence of any witnesses?? But the document says a notary public sealed it. That means there was a witness. Surely Queen Elizabeth II was there and so was Ronald Reagan. They had to have been there because the next day Marcos, Elizabeth, and Reagan signed a document at Buckingham Palace.

https://www.scribd.com/doc/123523931/Ferdinand-Marcos-Anthony-Santiago-Martin-Ultimate-Agreement-Document

This document is just as bizarre as the alleged Last Will and Testament of Marcos and is directly related to it because it seeks to clarify the identity of the executor of the will, Anthony Santiago Martin. It was also uploaded to Scribd by American Kabuki. It is signed by Reagan, Marcos, Elizabeth, and the former president of the World Bank, Barber Conable. Notably it lacks the UN Mailroom stamp.

1.) That both parties agreed, as a whole and ultimately without any negative opinion, to Involuntarily Appreciate, Recognize, Declare, Recertify, Reconfirm and Reconsider, at all cost, force and effect, the Fullest, General, Ultimate and Infinite Involuntarily Authenticate the Genuine Identification of the Genuine Anthony Santiago Martin and/or Genuine Lyn Grace Hernandez Medina, who must not committed marital violation, having no Jewelry wear in the body and having no Electronic Microchips proposed to place and put by the Central Intelligence Agency in order to identify and guard all their activities and movement under their custody that similarly happened to the First Party who have been removed his Electronic Microchip at the right corner of his shoulder and all parties signed herewith agreed to oppose this action to keep the Genuine Secrecy and Authenticity of the Genuine Anthony Santiago Martin and Lyn Grace Hernandez Medina. 

2.) That both parties agreed, as a whole and ultimately without any negative opinion, to Involuntarily Appreciate, Recognize, Declare, Recertify. Reconfirm and Reconsider, at all cost, force and effect, the Fullest, General, Ultimate and Infinite Involuntarily Identify the Fake Identification of the Anthony Santiago Martin and/or Lyn Grace Hernandez Medina that having allowed to commit marital violation, that having Jewelry wearing in the body and having Electronic Microchips placed and putted by the Central Intelligence Agency in order to identify and guard all their activities and movement under their custody and to hide the Real, Original and Genuine Identity of above named Authorized Party. 

3.) That both parties agreed, as a whole and ultimately without any negative opinion, to Involuntarily Appreciate, Recognize, Declare, Recertify, Reconfirm and Reconsider, at all cost, force and effect, the Fullest, General, Ultimate and Infinite Involuntarily Inherit and Entitle all World Possession of Wealth to the People of the Philippine Islands (10% - 70%) and the World (10% - 30%) for 100 Fiduciary Bank Accounts only (which the rest will be claimed 70% by the People of the Philippine Islands) under the previous possession and name of the First Party and ceded and handed over the Full Authorities, Rights and Powers of the First Party to above named Authorized Party without any negative terms and conditions and without any plead to be done by the Known Family, Philippine Government and Trustees of the First Party. 

3.) That both parties agreed to Involuntarily Reconsider, Recognize, Reaffirm, Reconfirm, Recertify and Declare the Authenticity and Validity of this instrument upon delivery and submission of this instrument in any foreign agencies in the Philippine Islands, either it is duplicate or original copy and if there's no comment pronouncement from any foreign agencies in the Philippine Islands and the world against this instrument and other instrument, even duplicate and recorded. shall be forever Reconfirmed and Reconsidered as Accurate, True, Correct, Valid and Authentic that serves as Final Draft Agreement. And in all foregoing, this instrument and other relevant instrument shall be forever Declared Valid and Authentic upon acknowledgment by any of above Authorized Party in the future.

Who knew that the CIA "putted" an electronic microchip in the shoulder of Ferdinand Marcos in order to track all his movements!? This document is not even numbered properly.  There are 4 sections but the 4th is numbered 3. This document has a lot of highfalutin legal language but ultimately does not say anything true. It appears to indicate that 70% of the world's wealth belongs to the Philippine Islands. It's just nonsense.

Believe it or not this is not the only fake Last Will and Testament of Marcos floating around. 

https://www.facebook.com/alphaomegaworld/photos/2847383495282331

LAST WILL AND TESTAMENT  

Know to all men these presents,  

That, I, Ferdinand Edralin Marcos with Diffuses Codename: AAA-777 and Spiritual King Solomon of Israel, of Legal Age, Married to Imelda Romualdez Marcos 'y Ongpin, President of the Philippine Islands and General holder or the following Assets and Properties entrusted to me by the Eternal Creator for the benefit of the people of the Philippine Islands, to wit....

The document then lists the central bank accounts of 179 nations in dollars worth of metric tons of gold. It ends thusly:

Before me, Notary Public is written by the undersigned with fullest consent and intention as all above Written information was hereby legally Declared, Reconfirmed, Recognized and Certified as all Authorities of the undersigned who had originally right handed was signed, authorized, transferred, ceded, handed-over and assigned this accord for the welfare and benefit of the People of the Philippine Islands and lawfully executed in the Malacañang Palace, Philippine Islands dated December 20, 1985 12:00 am in the midnight. 

The uploader of this document is Alpha Omega World Development Marshall Programme. That Facebook page has a myriad of dubious documents uploaded and scrolling through them is to dive into a deep rabbit hole. There is no indication of where this document originated or any information about it. Strangely enough this Last Will and Testament is very similar to another alleged Marcos document.

https://ronaldwederfoort.wordpress.com/2016/04/28/global-agreement-know-to-all-men-these-presents-this-agreement-was-hereby-made-and-executed-by-and-between-pres-ferdinand-e-marcos-which-referred-to-as-first-party-and-foreign-counterparts-which-re/

This document is alleged to have been signed on January 10, 1980 at the UN Headquarters and lists the central bank accounts of 179 countries and alleges that Marcos has complete control over them.

GLOBAL AGREEMENT Know to all men these presents. This Agreement was hereby made and executed by and between Pres. Ferdinand E. Marcos which referred to as First Party and Foreign Counterparts which referred as Second Party dated January 10, 1980 at the United Nation Headquarters, New York; USA. WITNESSETH

(1.) That both parties agreed to reluctantly Welcome, Declare, Recognize„ Reconfirm, Recertify and Reconsider, at all cost, force and effect, the Fullest. General, Ultimate and Infinite Sole Authority of the First Party to amend or modify the below Certified, without any further opposition and other negative means, Authentic Accounts time deposited, with approved interest of 4% per annum by the First Party in the Central Banks and/or Commercial Banks worldwide and to assign and/or authorize those deposits to any of the Authorized Party to be done by the First Party thru his Last Will and Testament that subject to deliver in any Foreign Agencies in the Philippine Islands and as per divine order from the Holy Spiritual Father in Heaven:

This document effectively places Marcos in control of the entire world economy. That is ludicrous. It seems that the original was uploaded to Issu by Anastasis Tsondis but that page will not load for some reason. Now, if you follow this rabbit trail you will come across the following document:

https://drive.google.com/file/d/1MZfV312FU_bHb7hwMa09Er3Z28xhKFXv/view

The Committee of 300 thru the United Nations Organization Awarding this Treasury Certificate of the People of the Philippine Islands represented by ASBLP Group of Companies and Bank of ASBLP with International Registry no. ASBLP - 120005 -BASLLP

This document has the same fantastical history as in the Last Will and Testament and it is 112 pages long. The ASBLP group of companies does have a website. Here is it's mission:

ASBLP GROUP OF COMPANIES & BANK OF ASBLP is one of the supermost financial organizations of the united nations & the committee of 300, for having the infinite treasuries, the "mother account" and all collateral accounts that saves our world’s future financial crisis and meltdowns. The said mother account will be used for the benefit of the philippines and all nations and its people throughout the whole world. 

ASBLP GROUP OF COMPANIES & BANK OF ASBLP has humanitarian & economic development projects approved by the committee of 300 & the united nations organization to be implemented within the philippine islands under the rule of law.

https://www.asblpgroup.com/about

So, the ASBLP Group of Companies has an infinite amount of money and runs various projects in the Philippines which have been approved by the Committee of 300 and the UN. That is ridiculous. The Committee of 300 is allegedly a super secret group of 300 men who control the world economy which is a staple of conspiracy literature. If they do exist they certainly would not be broadcasting it. The website asblpgroup.com was only put up last year.

https://who.is/whois/asblpgroup.com

Who is Ramonsito Manaois? Why did the ASBLP Group of Companies not have a website until July 2020? Why do they have a website which is not at all informative? There is enough material here for several articles but I won't be exploring any further for now.

What we have here is some bizarre "conspiracy" to make it appear as if Ferdinand Marcos had complete control over the world's finances all for the benefit of the Philippines. These documents say they were signed in the 1980's but they have "official" stamps from 2007. It's interesting how these documents all intersect with and borrow from one another. Their content is intricately detailed but outlandish and provably false  But who wrote them and why? Why go through all the trouble to produce fraudulent documents alleging that Ferdinand Marcos was in control of the world's wealth for the benefit of the Philippines? It's obvious from just reading them that these documents are fake. How could anyone fall for this lie? It's all so very weird. Perhaps in a future article I shall dive deeper because there is so much more to this lie about Marcos' gold than just this fabulous and fictitious Last Will and Testament. 

The Philippines' Liquor and Tobacco Ban Is Bad For Everyone

Let's talk about the nationwide liquor and cigarette bans in the Philippines. Though not banned by a presidential decree LGUs across the nation have issued the bans and continue to uphold them. Department of Finance secretary Dominguez says this is a good thing because restricting access to these products will prevent people from contracting COVID-19.

https://business.inquirer.net/295869/dominguez-liquor-cigarette-restrictions-to-stay-as-health-top-priority-amid-covid-19-pandemic

The government will keep the restrictions on liquor sale as well as withdrawals of cigarettes from factories for the rest of the extended lockdown period, as keeping Filipinos away from these “sin” products would not only keep them healthy but also protect them from getting inflicted with COVID-19, Finance Secretary Carlos G. Dominguez III said Monday.

As such, the liquor ban imposed by the national and local governments will stay in areas under enhanced community quarantine, while domestic cigarette production will remain on halt, save for a few lines churning out for exports. 

Over the weekend, the Department of Finance (DOF) reported a slump in the year-to-date tax take from tobacco and alcohol, which the agency described as “consistent large excise tax collection drawers.” 

During the period Jan. 1 to April 15, tobacco excise taxes fell 42.5 percent year-on-year to P33.19 billion, while collections from alcoholic drinks declined 26 percent to P17.85 billion. 

This drop happened despite the higher tax rates slapped on these products since Jan. 1 under Republic Act No. 11346 which increased the levy on cigarettes, and RA 11467 jacking up taxes on alcohol, heated tobacco and vapes. 

As tax collections dropped, the government increasingly turned to foreign loans from multilateral lenders and bilateral government partners to ensure that it can address the health and socioeconomic fallout from COVID-19. 

Asked if the government may consider easing ECQ restrictions on these “sin” products to shore up badly needed government revenues to be spent for COVID-19 response, Dominguez replied: “No.” 

Further asked if he referred to both products, the Finance chief replied: “Yes.” 

“Sin taxes are imposed to discourage consumption of products that are detrimental to health. We do not wish to exacerbate the current health crisis,” Dominguez explained. 

Last week, Dominguez said that he did not want the liquor bans lifted, but the government may exempt cigarettes from quarantine restrictions as smuggling of so-called “illicit” sticks increased after unscrupulous traders took advantage of dwindling supply of tax-paid packs. 

Dominguez’s change of heart with regards to cigarettes came after a meeting with Health Secretary Francisco Duque III, who had advised that smoking may aggravate a respiratory ailment like COVID-19. 

The fight against illicit cigarettes will be nonetheless continued by the so-called “strike team” of the bureaus of Internal Revenue (BIR) and of Customs (BOC), Dominguez said, adding that the country’s two biggest tax-collection agencies remained “vigilant” against such illegal activities. 

The Center for Alcohol Research and Development (Card) Foundation Inc., whose members included Absolut Distillers Inc., Emperador Distillers Inc. and Ginebra San Miguel Inc., earlier appealed to totally lift the ban or relax it on certain hours during which stores may sell liquor. 

“If this ban continues, the industry can no longer survive; a situation that can affect a large sector of the community… the alcohol beverage industry bears already the agony of declining market demand due to the imposition of high excise taxes on alcohol,” Card said in an April 16 letter to Trade Secretary Ramon Lopez. 

“Post-enhanced community quarantine, the tobacco industry projects that there will be a resurgence of illicit trade. The enhanced community quarantine resulted in job losses and a decline in incomes, which favor the consumption of low-priced and tax-unpaid illicit products,” industry players warned.

Also, they sought to “allow the resumption of the production of exciseable products such as tobacco and alcohol so that excise taxes and value-added tax (VAT) may be generated by government to fund social welfare programs and for consumers not to turn to illicit products.”

The consequences of banning booze and smokes are far-reaching and could potentially be devastating for the tobacco and liquor industries as well as government programs like universal healthcare which are dependent upon the taxes levied on those industries. Contrary to what Dominguez said sin taxes are not imposed to discourage consumption. They are imposed by governments to fill their coffers and fund programs.  Just last year the DOF warned that the Congress' slowness to enact a sin tax law would make the universal healthcare law unimplementable.

Chua said excise taxes on sin products such as cigarettes and alcoholic drinks need to be increased to levels that would help fill the P62-billion funding shortfall in the first year of implementation alone of the UHC program in 2020.  

If Congress fails to pass a law mandating these sin tax increases, then the UHC program will be an ineffective tool in achieving the Duterte administration’s goal of ensuring equitable access to quality and affordable health care services for all Filipinos.

https://www.dof.gov.ph/non-passage-of-new-sin-taxes-to-make-uhc-a-third-class-law/

 Last year Dominguez and DOH Secretary Duque urged the Congress to act quickly on this matter.

In a joint statement, DOH Secretary Francisco Duque III and DOF Secretary Carlos Dominguez III said that raising the taxes would “close a cumulative funding gap estimated at around P426 billion over the next five years for the full and proper implementation of the Universal Health Care (UHC) program.”

https://www.philstar.com/headlines/2019/05/26/1920969/doh-dof-make-final-push-higher-sin-taxes

Now with the ban this revenue stream is dead. That means no funds for the DOH at a time when they need it most of all. The continuing ban is also putting the liquor industry at risk of going under. What business can sustain a 100% loss of profits for two months and possibly more? If the liquor and tobacco industries collapse then the government will have lost an important source of revenue. What becomes of universal healthcare then?

Furthermore the tobacco ban has led to an increase in the illegal cigarette trade which will continue even once the ban is lifted. No one is working so they can't afford more expensive brands thus causing them to buy cheaper illegal smokes.

Why have these bans?  What is the point? To stop the spread of COVID-19? Only a few countries have banned liquor during the pandemic.  India, South Africa, Thailand, the Philippines, Greenland, Barbados, Grenada, Colombia, Mexico, and Zimbabwe have all banned liquor sales. Meanwhile places like the USA and Canada have classified liquor stores and marijuana shops as essential services.

https://www.thestar.com/news/2020/03/27/why-are-cannabis-and-liquor-stores-considered-essential-services-during-the-covid-19-outbreak.html

On Monday, the Government of Ontario released its list of essential workplaces that can continue to operate during the COVID-19 outbreak. The list included liquor stores, alcohol producers, wholesale stores that sell beer and wine to providers as well as cannabis stores and producers. 

It’s a move that is being praised by public health and substance-use disorder experts, who say it could help prevent social unrest from breaking out and even save lives. 

A person who is in alcohol withdrawal can experience delirium, epilepsy and death, says Larry Grupp, an associate professor at the University of Toronto and an expert in the neurobiology of alcoholism. 

“If you’re a real alcoholic, then you’re going to have epilepsy, and (if) you’re going into withdrawal because you don’t have access to alcohol, you could die,” Grupp said, noting that it’s a small section of the population who is that heavily addicted to alcohol. 

“I think they’re just trying to avoid anymore kind of social unrest on top of the (COVID-19) problems,” he said, adding that he supports keeping liquor stores open. 

Leslie Buckley, chief of addictions at the Centre of Addiction and Mental Health, said she and her colleagues were monitoring the announcement closely and were worried liquor stores could be closed. 

The concern was that people who are severely addicted to alcohol would experience negative health outcomes and may turn to more harmful forms of alcohol, such as rubbing alcohol or mouthwash. 

“That was definitely on our list of concerns … depending on which one they’re using, it can cause incredible harms,” Buckley said. “Sometimes I have people who drink gasoline.”

They are being kept open to prevent social unrest and so alcoholics don't die from withdrawal or start drinking gasoline. Meanwhile in South Africa:

https://www.iol.co.za/capeargus/news/covid-19-lockdown-call-to-lift-sales-ban-after-17-liquor-stores-looted-in-cape-town-46673569

Will this happen in the Philippines? Maybe. But the bigger problem here is that excise taxes on liquor and cigarettes go to pay for government programs including universal healthcare. There is no warrant to shut down the liquor and tobacco industries to prevent the spread of COVID-19.  The west has not resorted to that tactic. Why should the Philippines?

Perhaps the government needs to find a better way to pay for their programs than sin taxes. That could be part of the new normal the government is so keen on imposing.

They Never Learn or Filipinos Are Financially Illiterate and Desperate

From the Inquirer we read the following:

https://newsinfo.inquirer.net/1150371/they-never-learn-victims-of-p120-m-scam-in-pampanga-seek-nbi-help

At least 30 people duped into putting hard-earned money into a P120-million investment scam in Pampanga province are now seeking help from the National Bureau of Investigation (NBI) to run after the still unidentified woman who lured them into the scheme. 

The victims claimed they have invested from P1.2 million to P16.5 million since 2016 and were paid interest rates of 5 to 10 percent or higher when they were able to bring new investors. 

However, the interest payments stopped coming last July. 

They said they trusted the suspect because she is either a co-employer in a water district or a relative. 

Vigilio said the scam is believed to be bigger because many overseas Filipino workers also put in their money into it in exchange for big interest returns.

There is a sucker born every minute and that is true for men from all walks of life not just Filipinos. But it seems Filipinos simply keep getting the money sucked right on out of them from scam after scam after scam.  Whether it's investing in a pyramid scam in hopes of receiving an incredulous monthly return or an MLM scam selling overpriced goods no one wants or needs in hopes of getting rich quick.

There are also more subtle scams too. Scams that Filipinos put themselves into.  They sell everything. Every house is a sari-sari store. Imagine a friend gives you some food he made.  Perhaps he gives you two chocolate chip cookies.  You eat one and it's very delicious. So you get the bright idea to sell that second one. Then you praise the talents of your chef friend, have your neighbours and friends place orders for cookies, and you buy from him to sell to them.

But wait!  You are selling cookies because you are poor. You have no money to buy the cookies with and all your orders are not prepaid. What do you do?  Enter MF Cash!

http://www.mymfcash.com

MF Cash is one of many online lenders. The process is very simple. You download the app, fill out all the forms, apply for the loan, and bada-boom-bada-bing the money is in the bank. Or at Palawan or wherever.

Suppose you borrow P3,500.  That's not too much. You can buy a lot of cookies with that money. You get approved for the loan but instead of P3,500 you get half of that because there are a lot of fees. Allow this MF Cash customer explain:

This app has low interest rate but has other big charges. For a loan amount of p3,500, you will only receive p1,925. They will charge you a Quick Review Fee of p315, then a Platform Service Fee of p441, then another p315 for Account Management, then Payment Channel Fee of p472.50, and lastly, the interest of p31.50 

https://play.google.com/store/apps/details?id=com.wdjk.mcvay&hl=en&showAllReviews=true

Now that is just messed up. But hey you now have P1,925 in hand so you can still buy quite a few cookies to sell.  You will be able to make a profit and pay off your loan in no time. Of course that doesn't happen at all. Buying cookies from your chef friend and selling them to your friends and neighbours is not a sustainable business. Of necessity you have defaulted on your loan. Here is what happens after you default.

Now you are in a panic because of this message and messages from your confused friends telling you they received disparaging texts about you calling you a scammer who won't pay their loan. Your mom calls you and says they threatened her with jail because you did not pay your loan! What the heck is going on you ask.  How did they get my contacts information?

This is where both financial and computer illiteracy clash. What happens is when you download this app you give them access to all the information on your phone. That is why the one friend who is not in your contacts but whom you did call also received a message from MF Cash. That is called metadata. 

Many Filipinos are in debt.

https://www.rappler.com/business/industries/209-banking-and-financial-services/124948-filipinos-debt-asia-manulife-survey

A third of respondents cited daily living expenses as the main factor contributing to their debt, indicating that investors' ability to save regularly may rely on the use of credit to pay for daily living expenses. 

Apart from daily living expenses, a large share of the debt is driven by outlays for children's education, medical expenses, and discretionary expenses, the survey showed.

And many Filipinos do not use banks.

https://cnnphilippines.com/business/2018/07/11/2017-financial-inclusion-survey-bsp.html

Around 77% of Filipino adults do not have bank accounts, according to the latest survey by the Bangko Sentral ng Pilipinas (BSP). 

In its 2017 Financial Inclusion Survey (FIS), the central bank announced that only an estimated 15.8 million adult Filipinos, or 22.6 percent, have bank accounts, while an approximate 52.8 million, or 77.4 percent, remain unbanked. Ownership of a bank account that can be used to save and receive money, as well as pay bills, is a basic indicator of financial inclusion. 

For those who do not have bank accounts, 60 percent of them cited not having enough money as a reason, while 21 percent did not not cite any reason at all. Meanwhile, 18 percent of the respondents said they do not have documentary requirements to open an account. 

Other reasons cited for not having a bank account are: high cost of opening a bank account (10 percent), lack of knowledge on how to open an account (9 percent), joblessness (8 percent) and lack of awareness (8 percent).

These two facts complement each other. Filipinos struggle to get by from day to day and they don't have enough money to open a bank account. Why open a bank account if you have no money? The Philippines is basically a cash economy anyway. I have to pay all my bills in cash and these bills require payment within a week of receiving them! Imagine being a poor person living from day to day and you get an electric bill that is much higher than you expected and it's due in 7 days. What will you do? Seek out a loan of course.

There are plenty of ways to get a loan.  You can use the aforementioned online apps or you can use the perennially popular 5-6 loan which is offered by the Indians. I don't really want to go into all the types of loans here. What I want to make clear is that despite every administration touting economic growth Filipinos, aside from those at the top such as all the political families who run this joint, remain poor and desperate.

https://www.gmanetwork.com/news/money/content/58476/arroyo-7-5-gdp-growth-fastest-in-2-decades/story/

https://www.rappler.com/business/economy-watch/136536-president-aquino-economy-legacy

https://www.dbm.gov.ph/index.php/secretary-s-corner/press-releases/list-of-press-releases/1341-duterte-admin-posts-high-growth-in-2017-2018

What is all this economic growth to the millions who live in dire poverty and from hand to mouth? I know plenty of people who are not living in shanties and don't have a brood of children but they are still struggling to succeed. They resort to various schemes whether it's online jobs or selling clothes and food or even outright scams. Poverty is a serious issue in the Philippines and oftentimes it is silent and creeping and can put a person deep in debt.

There are a lot of other factors involved too.  Low wages, lack of jobs, the expense of getting job (NBI clearance, X-rays, etc.) that might just be temporary (ENDO), a devalued currency, the need to provide for family members. The last item is what burdens everyone. Mom needs money so she can eat and she is depending on you because that is the culture here. She has not worked all her life and saved up. Or maybe she has worked all her life but has not been able to save up! Now it falls on the children to support their parents and maybe even a sibling who refuses to get a job.

I have no solutions and this blog is not about offering solutions. Who can solve the Philippines? If you are reading this and you are  a Filipino and you are thinking about getting a loan so your mom can buy food for the month...DON'T DO IT!

Picture of the Week: Exact Change

What is this sign? No, really. WHAT is THIS....SIGN!!!??

Why is she wearing sunglasses on that hat!!!?

Do I need to tell you what it is? It's a sign of what you can expect from the Philippines. 

Does SM really need to post a sign at the cash register telling customers they will be provided exact change? That should be a given! Not an extra. Everyone should expect exact change when they make a purchase. 

It's so hilarious how when you give any cashier at any store any amount of money they will say, "I receive xyz pesos." Hilariously pathetic.

It's all about the culture of distrust that is prevalent throughout the Philippines. Sad but true. It's hard to trust anyone here so these kinds of measures are taken to reassure folks.

Don't Lend Filipinos Money

Ashley Madison Winners is (not the real name of) a lady I know who owns a small and seemingly profitable construction business.  Seemingly profitable because if it was not then she would have closed down by now.  Who runs an unprofitable business? And who would work for someone who can't pay them? And who spends a million pesos to buy a truck to use for a failing business?

Money to buy a new truck but no money to pay debts

A while ago a foreigner was persuaded to invest in her business.  He gave so much money and would get a slight return every month. This would go to support his fianceé while he was back in his home country preparing for her arrival.

Alas everything went sour and real fast.  Money was paid at first and then not at all. Calls and texts were made and promises of future payment agreed to but not much has come of it except frustrations and empty promises.

And that's that really. Just another cautionary tale in a land full of cautionary tales about lending money to people who simply will not repay the loan. Reminds me so much of Goodfellas.

  

Stewie and Brian also come to mind.

This is nothing new though.  In 1720 Gaspar de San Agustín wrote a letter detailing many of the characteristics of Filipinos. Even 300 years ago he knew to never lend a Filipino anything, especially money.

9. First, they are remarkable for their ingratitude; and although ingratitude is an innate vice in all people, through the corruption of original sin in our vitiated nature, it is not corrected in them by the understanding, and they lack magnanimity. Therefore, it is all one to do a good turn to an Indian, and to prepare oneself to receive the blow of his ingratitude. Consequently, if one lend them money, they do not pay it; but instead they run away from the father. Hence there is ground for scruples in regard to lending money to them; for that is a benefit from which evil must result, as they absent themselves and do not come to mass. 

So long as they receive, they kiss the hands of him who gives, and humble themselves with promises. But when it comes time to pay, they will beg for time (for they are beggars, and not givers); and they will utter tedious and complaining words, and the time is spent in vain. Even though one can pay, he can be got to do so only with great difficulty. 

10. If they borrow anything that is not money, they will never return it until it is requested; and, as an excuse for not having returned it; they say that they have not been asked for it.  

Gaspar de San Augustín letter on the Filipinos