Julia Christine Botin

'Laging pa-intriga': Palace dismisses ex-Pres Duterte's claim Marcos stole, sold PH gold reserves

Article (news)

Pia Gutierrez

ABS-CBN News

MANILA -- Malacanang on Monday denied former President Rodrigo Duterte’s claim that President Ferdinand Marcos Jr has stolen and sold the country’s gold reserves. The former President made the accusation during a rally in Cebu over the weekend, where he also claimed that Marcos ‘was veering towards dictatorship.’ In a Palace briefing, newly installed PCO Undersecretary and Palace Press Officer Atty. Claire Castro reiterated the Bangko Sentral ng Pilipinas&#x27; statement that clarified that the “country’s gross international reserves (GIR), including gold, are held and managed solely by the BSP” and is “not used for any other purpose other than meeting the country’s forex requirements.” “Itong issue na ito, Octobe 2024 nasagot na ito. Ang nagtataka lang ako, bakit paulit-ulit na bini-bring up ni Pangulong Duterte? Wala ba siyang economic experts na magsasabi sa kanya kung ano ba talaga ang regular activities ng BSP?” Castro said.In a statement, the BSP said it buys or sells gold to maintain an optimum level as a hedge against price movements of other assets.“Ayon sa BSP, ang pagbebenta ng gold is just a regular activity. How? Why? To pump up the economy. Even at the time of former president Duterte, trabaho na ito ng BSP. Hindi ba niya alam yun?”<div><a href="https://www.abs-cbn.com/business/2024/9/24/selling-the-most-gold-bsp-clarifies-gold-sales-1826" rel="noopener noreferrer" target="_blank">Selling the most gold? BSP clarifies gold sales</a></div>Castro noted that Duterte, as a lawyer and former fiscal, should have provided evidence to back up his claim. “Hindi ba ito campaign joke ulit ni dating Pangulong Duterte? Hindi pa ba tayo nasanay doon sa jet ski promise niya? Na noong naniwala tayo halos sa mga sumuporta sa kanya eh tinawag tayong stupid? So pag naniwala ba tayo ulit sa sinasabi niyang ito eh baka mapagkamalan niya tayo ulit at tawagin tayong stupid?” she said.“Ano&#x27;ng proof niya? Again, as a lawyer, he is a lawyer, he became a fiscal. Alam niya kung paano magkuha ng ebidensiya. To get the truth. Bakit sa kanya parang wala siyang ebidensya? Laging pa-intriga. All we want here is evidence. Ipakita niya. Kung si PBBM o ang Pangulo ang nag-utos para magbenta ang gold reserves. Samantalang sinabi rin ng BSP: solely managed ito by the BSP. So paano magkakaroon dito ng hand or pakikialam ang Pangulo?” The Palace official also urged Duterte to provide data to support his claims that the problem of illegal drugs and criminality has made a comeback in the cities of Manila, Cebu, and Davao under the Duterte administration. “Kung Davao City ang pinag-uusapan natin sino ba ang mayor ng Davao City? Hindi ba ang anak niya? Si Mayor Baste Duterte. Ang ibig ba sabihin napaka-inefficient ng anak niya?” she said. “Again, ulitin natin, nasaan ang data patungkol dito? At tandaan natin noong panahon niya-- at least ngayon may record kung may namamatay-- noong panahon niya meron bang nare-record doon sa mga biglang nawawalang mga tao?”Castro says the new leadership of the Presidential Communications Office will make a firmer stand against fake news, saying that it is their obligation to bring truthful information to the public. “We have to fight for that, we have to fight against fake news. Otherwise, yung mga tao na naniniwala sa kanila, maiiba ang isip nila. Maiiba ang diskarte nila. It is our obligation. Dapat nating iparating sa taumbayan ano ba ang katotohanan,” she said. “Iwasan natin ang mga intriga na walang basehan. As of now kasi puro intriga ang pinapasok sa utak natin at nakakasira ito sa bansa, sa ekonomiya, hindi po ba?”Last year, a gold brokerage site named the BSP as the world&#x27;s largest seller of gold. The BSP said it took advantage of the high price of gold on the world market to generate additional income &quot;without compromising the primary objectives for holding gold, which are insurance and safety.&quot;Gold is generally seen as a safe haven asset, which means it retains its value amid economic uncertainties and fluctuations in the foreign exchange.  During times of uncertainty, it also appreciates in value.

Malacanang said Duterte's allegation had already been answered by the Bangko Sentral last year, as the Palace also warned it will take a firmer stand against fake news.

Malacanang said Duterte's allegation had already been answered by the Bangko Sentral last year, as the Palace also warned it will take a firmer stand against fake news.