Philippines: Wealthiest Nation on Earth?, Following Shambhalista's Dubai Philippine gold Options

[retaxis]

....come on....

[matigasngulo]

differs slightly from the Seagraves story:

http://www.bibliotecapleyades.net/sociopol..._part%203.2.htm

lol ex Fr. Tagle ( i think thats "ex-" , since he has a family, but you never know in the Philippines... ) even is on facebook.

[trismegistos]

@azaz:
I have to agree that 650,000 metric tons is an outlandish estimation. Seems to be a manipulation by the you know who to plunder our wealth. Just like various stories are being concocted just like the Yama$hita Hoax, and the Templar treasures getting into Mu. More on this later...

A long time ago, a clairvoyant treasure hunter turned healer disclosed as a sidenote on how he and his wife got their healing powers that Marcos got hold only a small miniscule fraction of the gold of our ancestors where the rest are still guarded by the spiritual hierarchy intended for the Filipinos and the people of the world but the Marcos gold is big enough to possibly cause a Financial Gog and Magog in the wrong hands.

differs slightly from the Seagraves story:

http://www.bibliotecapleyades.net/sociopol..._part%203.2.htm

lol ex Fr. Tagle ( i think thats "ex-" , since he has a family, but you never know in the Philippines... ) even is on facebook.

Do you happen to know the whereabouts of ex Fr. Tagle?

Give my regards to Taolander, Renascimento, Taybenco, etc.

---
I am not sure if somebody already posted this... http://www.france24.com/en/node/4912544 or http://www.chinamining.org/News/2009-10-29...8494d30386.html and http://thegovmonitor.com/world_news/asia/c...ines-10567.html

One of China’s largest gold producers has formally signified its interest to invest 1 billion U.S. dollars in gold and copper exploration in the Philippines over the next five years, Malacanang said on Thursday.

Malacanang said in a statement that Zijin Mining Group Company, Ltd., through its chairman, Chen Jinghe, signed a Memorandum of Understanding with Environment Secretary Joselito Atienza at the latter’s office on Thursday.

Atienza said that Zijin’s “intention to invest…was clearly stated” in the MOU, which was signed shortly after Chen and Jerry Angping, president of local partner Nihao Mineral Resources International, paid a courtesy call on President Arroyo at the Bahay Pangarap in Malacanang Park.

Quoting Atienza, a Palace statement said that Zijin is prepared to spend 1 billion U.S. dollars in gold and copper exploration in the Philippines over a five-year period despite the country’s ” strict mining laws.”

In its official website, Zijin, which is listed in the Hong Kong Stock Exchange, describes itself as a “high-tech benefit- oriented super-large international mining group centered on exploration and development of gold and base metals.”

Formerly known as the Fujian Province Shanghang County Mining Co., Zijin has holding subsidiaries in 20 provinces in China and seven countries and has become China’s largest owner of metal mineral resources, its largest gold producer, its third largest copper producer, and one of China’s six major zinc producers.

The Southeast Asian country has vast amounts of gold, nickel, copper and other valuable minerals, but for years its mining industry has underperformed due to bad governance, foreign ownership restrictions and domestic opposition.

Now, with the Philippines trying to nearly triple annual investment in the sector to two billion dollars, China is being seen as a crucial buyer and source of funds to develop some of Manila's largest mining prospects.

"It's all very fortunate for us because we have the advantage of geography... they can practically buy everything we produce here," the Philippine Mines and Geosciences Bureau chief, Horacio Ramos, told AFP.

The economic counsellor of the Chinese embassy in Manila, Wu Zhengping, also told a mining conference here last month that Beijing was looking at a "long-term strategic cooperation" with Manila in the mining sector.

"It's a win-win arrangement," Wu said.

However, he said the Philippines must address some key Chinese concerns, particularly continued restrictions on foreign ownership and inadequate infrastructure.

"The first thing you have to do is improve your investment environment," Wu said, calling for a relaxation on rules limiting foreign ownership of assets.

Nevertheless, China has shown it is willing to deal in the current environment.

Zijin Mining Group, China's largest gold miner, and another Chinese firm this month signed a memorandum of understanding with the Philippine government that could lead to one billion dollars in mining investments over five years.

Chinese Foreign Minister Yang Jiechi on Wednesday also began a two-day trip to Manila, and resources was expected to be on the agenda during talks with President Gloria Arroyo on Thursday.

"Mining will be among the issues to be discussed," Ramos said.

The government estimates the Philippines has 83 billion tonnes of mineral ore deposits.

The country's estimated gold ore reserves of four billion tonnes is the world's third largest, its 7.9 billion tonnes of copper the fourth largest and the 815 million tonnes of nickel ore the fifth biggest in the world, it says.

However the Philippines has largely missed out on the economic windfalls the likes of Australia and countries in Africa have seen in recent years as they sold resources to power China's surging economy.

"The Chinese are going global, but I just don't see any substantial investments here in the Philippines," the executive vice president of industry association Chamber of Mines of the Philippines, Nelia Halcon, told AFP.

"The market is there. We just need to develop our resources... They (China) have a potentially crucial role to play in developing the industry."

The Philippines mining industry went into near-hibernation after the collapse of metals prices in the 1970s, then a high-profile tailings spill in the 1990s galvanised environmentalists into a strong anti-mining force.

The mining industry began to recover after parliament passed a law in the mid-1990s that lifted foreign ownership restrictions on major discoveries.

This drove fresh investments that reached annual levels of about 700 million dollars, before dipping slightly to 650 million dollars last year due to the global financial crisis.

The government expects investments worth two billion dollars this year as metals demand impro

This post has been edited by trismegistos: Nov 21 2009, 09:21 AM

[matigasngulo]

i just googled the name and that facebook account came up first, so anybody could just write a pm to him and ask "hey dude (sounds very disrespectful), where's the 600+ kilotons of gold ?"

thanks for the greetings, trismegistos.

that reminds me, are you referring to Judge Floro as the "healer" ?

the gog and magog were imprisoned by Skander Mudah and unleashed in the 13th century, destroying Baghdad. some might say the Turks & Russians would be closest to them now. In english & french legends, GogMagog was also the name of the giant that Brutus, the first British king, wrestled with & defeated in order to found the first Celtic kingdom.

[trismegistos]

the gog and magog were imprisoned by Skander Mudah and unleashed in the 13th century, destroying Baghdad. some might say the Turks & Russians would be closest to them now. In english & french legends, GogMagog was also the name of the giant that Brutus, the first British king, wrestled with & defeated in order to found the first Celtic kingdom.

Interesting.
Those medieval romances, the search for the Holy Grail, Eldorado, the Fountain of youth, the Knights of Round Table, Merlin the Magician, Avalon, Tarshish, Ophir, etc are the kind of stuff that fires my imagination.

The healers are a couple. I wish I know their present whereabouts as there are many questions that I would like to ask like why the walls of their house are full of images of Comte St. Germaine, where is the cave or where did they throw their talismans (anting-anting) .

This post has been edited by trismegistos: Nov 21 2009, 10:51 PM

[azaz]

I also wish that Ex Priest Marcelino Tagle come out again. He proposed, below, a seven point solution on this matter:

Seven-point solution (of ex-Priest Marcelino Tagle)

Tagle said among the first things government should do to recover the wealth is to abolish the Presidential
Commission on Good Government which has spent ''millions of dollars'' but has ''failed to produce the
desirable results in bringing back the gold assets for the benefit of the Filipino people.''

Tagle proposed a ''seven-point solution'' to the problem of recovering the Marcos wealth: Create a Global
Trust Fund to ''secure, recover and distribute the assets of Marcos in an out-of-court settlement.'' Have
''banking groups lend money to the Trust using the gold certificates and physical assets deposited in the
lending banks, for a period of 15-20 years.''

The proceeds should be used to ''pay the Philippine debt'' and to fund ''education, social services, medical
needs, and generate jobs by building new plants, roads, transport facilities, communication, irrigation, energy
development, etc.'' Probate courts ''should assist in determining the rightful heirs and beneficiaries (of the
wealth) and effect compromise agreements with primary and secondary beneficiaries.''

Government and all beneficiaries should ''agree on their respective'' shares.

''Adequate compensation should be given to human rights victims.'' ''Put a major portion of the funds into the
development of Mindanao and other depressed areas of the Philippines by creating new centers of industrial
development and free trading zones.''

''Establish an Asia-Pacific gold trading house in Subic backed up by a gold refinery, jointly operated by the
Central Bank and private gold hallmark companies.'' ''Call a general and sectoral conference on the Marcos
gold. World banking officials and lawyers involved in recovering the wealth must be invited.''
--------------------------------------------------------------------------------------------------------------------------------------
Read more from this link: http://www.tseatc.com

This post has been edited by azaz: Nov 22 2009, 06:00 AM

[higaynon]

Going for the Gold

A new permanent exhibit offers tantalizing hints to the Philippines' precolonial history.




The Philippines has long been regarded as an interesting sideshow in Southeast Asia. A former colony of Spain, then the United States, it seems to have more in common with Latin America than with its Asian neighbors. There are few existing written records of its precolonial history and culture. It has no temples like Indonesia's Borobodur or Cambodia's Angkor Wat to indicate what civilizations existed on the 7,107 islands before their Western conquest. Artifacts on display at the National Museum and at the Central Bank Museum in Manila offer clues as to the islands' original inhabitants, but the available scholarship leaves too many questions unanswered. More than a century after the Philippines became an independent republic, the debate over the Filipino identity continues.

A new permanent exhibition at the privately owned Ayala Museum in the financial capital, Makati City, only heightens the mystery. "Gold of Ancestors" features 1,059 precious objects that are believed to date back as far as the 10th century. Most were acquired by a private collector, and have never been seen in public. Among the pieces on display are cutwork diadems, funerary masks, ornaments and ritual containers. Their quality and scope suggest that ancient Filipinos had closer links to their Southeast Asian neighbors than is currently supposed. There is a gold vessel in the shape of a creature that is half-bird, half-woman: the "kimnari" of Hindu mythology. A plaque depicts a female figure in an elaborate headdress with a tree-of-life motif, her hands raised as if in worship. The centerpiece of the exhibition is an intricately crafted gold halter, weighing almost four kilograms, that is believed to be the Upavita, or Sacred Thread, of the sort worn by the elite Brahmin class in traditional Hindu society.

Hindu influences can be seen all over Southeast Asia, but the exhibit raises the burning question: who made these objects? Were they created by the inhabitants of the islands now known as the Philippines, or were they brought in by foreign traders? "The answer is, 'We don't know'," says Florina H. Capistrano-Baker, curator in charge of the exhibition. "One of the reasons the collection is so important is that it provides a large body of works for comparative study with similar objects from Southeast Asia, such as those found in Oc-Eo in Vietnam and the Wonoboyo hoard in Indonesia. We assume that they are locally made until proven otherwise."

To be sure, gold is abundant in the Philippines. When Spanish conquistadors first arrived in the islands, they noted that the natives were bedecked in gold ornaments from head to foot. According to colonial accounts, the Filipinos were so knowledgeable about gold that even children could accurately determine the purity of gold alloys. There was also a sophisticated vocabulary for gold and indigenous goldsmithing techniques, as recorded in the 16th-century Tagalog-language dictionary collated by Pedro de San Buenaventura. Another argument for local manufacture centers on a pair of gold "lingling-o," omega-shaped ornaments, featured in the exhibit. These ornaments, found in many Southeast Asian cultures, were long believed to have been manufactured in Vietnam. But the recent discovery by the archeologist Peter Bellwood of a lingling-o workshop with tools and fragments in the northern Philippine province of Batanes indicates that such ornaments were manufactured there some 2,500 years ago.

Still, the artifacts on display reveal plenty of other influences. Capistrano-Baker surmises that whoever made them was exposed to Hindu beliefs. Furthermore, "We can assume that there was social stratification, with sufficient food supply and surplus resources to support craft specialization," she says. "The patrons appear to have enjoyed great power and access to resources."

Where have the objects been hiding all these years? They were collected by the family of the late National Artist and architect Leandro Locsin, which for decades has funded archeological expeditions and research into the islands' past. Reluctant to flaunt gold in a country where most of the population lives in poverty, the Locsins have been sitting on the collection for 25 years, waiting for the right conditions to publicly exhibit it. They finally got the chance when the Zobel de Ayala family inaugurated the new Ayala Museum in 2004, providing an appropriate facility to house the collection. "This exhibition is not about present-day personalities and egos," says a representative of the Locsin family. "It's about our national patrimony and what it can tell us about who we are as Filipinos. The primary concern is its enlightened stewardship: ensuring that this knowledge develops in our people's consciousness in a manner that is sustainable, secure and relatively free from possible manipulation."

Scholars have long considered Filipino culture marginal in comparison with the better-known Funan, Angkor, Srivijaya and Madjapahit cultures of Southeast Asia. The "Gold of Ancestors" exhibit suggests that the islands may have played a larger role in regional affairs than previously thought. John Miksic of the National University of Singapore, an authority on Southeast Asian prehistory, has said that this collection represents the single most valuable tangible heritage of the Philippines. It may shine a light on the continuing discussion of Philippine cultural identity. To paraphrase that famous fictitious archeologist Indiana Jones, it belongs in a museum.

[higaynon]

How the Philippines Can Save the World!


Disappointed and discouraged are the only ways to describe my reaction to those Filipinos who continue to bash the Philippines.

The release of the nation’s 2008 economic numbers (ahead of the time I thought they would be) could have been a moment of just a little amount of Filipino pride. When you look at countries like Spain, Singapore, Japan and others that saw their economies shrink in 2008, the Philippines did not do badly, all things considered. Instead, we got comments like this: “The supposed growth in the economy in recent years should be taken with a grain of salt.”

The millions of Filipino individuals and Filipino-owned businesses who made that 4.6-percent gross domestic product (GDP) growth happen clearly showed that, not only “The Filipino Can” but “The Filipino Did.” To every Filipino worker and every Filipino business owner who worked harder and never gave up—unlike that man in Los Angeles who recently killed himself, his wife and his four children after losing his job—stand tall and be proud.

We survived and even prospered a little through times of P50-a-kilo rice and P60-a-liter gasoline. Perhaps having the words “Economist” and “UP” on your resume means that you make so much money, anything less than a new Mercedes every year means the country is in a recession.


As another example of how clueless economists can be about the Philippines, Simon Wong, an economist at Standard Chartered Bank said, “I think most of the growth came from government spending.” While another “expert” Nicholas Bibby, an economist at Barclays Capital was quoted, “My suspicion is the upside surprise probably came from private consumption [spending].”
Keep doing your analysis gentlemen. Even a broken clock tells the right time twice a day.

I can remember when the foreign press used to describe the Philippines as “a basket case,” and “the sick man of Asia,” not with comments like “Overall, the Philippines will be better insulated from the collapse of external demand compared with other Asian economies.”

Why is there so little pride in the positive economic developments and accomplishments that the Philippines has made since the Edsa revolution? I believe it is the result of the pervasive “colonial mentality” after Edsa. The nation had come out of a black and stagnant economic prison. The Philippines sat at the feet of Western experts, like children looking for answers.


We embraced with enthusiasm most of their advice. We were told to “globalize” and we did. And then we saw our export products barred entry to other “free” markets. Our agricultural products were deemed unfit for Australia and Japan. Yet Mexico shipped their mangoes to the US, stealing Filipino heritage by calling them “Manila Mangoes” because no one would buy “Mexican Mangoes.”

Treated like the black sheep of the world economy, the Philippines was told and even warned that the only road to prosperity was to rely on exports for economic growth. Yet today, large and small economies that believed that theory are suffering the most during this global economic contraction.

Overseas Filipinos were scorned and insulted for being just domestic helpers. Now the world’s shipping industry would stop and the West’s hospitals would close if not for Filipino workers. Not too long ago, a Filipina in Japan was obviously a prostitute. Now Japan begs for our nurses and caregivers, needing 500,000 by 2016.

Seven years ago, most Western companies laughed at the idea of outsourcing to the Philippines. Now, the Philippines and India, with a population 10 times as large, controls 50 percent of the world’s outsourcing business. And our growth rate is double that of India’s.

The Philippines always hits high on the list of “corrupt countries” and the local press seems to delight in that fact, never saying that perhaps that sort of evaluation might be exaggerated in this sense: name a single major Filipino company, public or private, that ever put a nonexistent billion dollars on its balance sheet as India’s Satyam Computer was recently discovered doing. Where is the example of a Filipino Enron, Lehman Brothers or AIG?

Filipino banks were once heavily criticized for being much too small and undercapitalized. Again, where are the Philippine bank failures, except for a few, possibly crooked, rural banks that probably should have been closed years ago. Further, by the most important gauge of a bank’s financial strength, Filipino banks are twice as strong as most of those in the West. A bank’s capital adequacy ratio (CAR) measures the amount of total assets against risky assets, such as bad loans. The Filipino banks’ CAR usually runs twice as high as what is required by international standards. Thus, there are no Washington Mutual or IndyMac Bank type failures in the Philippines.

At the World Economic Forum in Davos, Switzerland, President Arroyo, as she does from time to time, gave a brilliant speech to an international audience. I saw her do it once at an Asian Development Bank forum, impressing global business and political leaders.

In Davos, she politely reminded the West that for the last 10 years, they pursued polices that drove their economies into a black hole. Countries like the Philippines used that time to build themselves up. The President called for the West to included countries like the Philippines in all further global economic discussions so the West might learn some “helpful new ideas.”
I agree and using our strong points, of which you should be proud, might just help save the global economy.



http://desertaquaforce.blogspot.com/2009/0...save-world.html

[Amihan00]

The Elitista and the colonizers, created lies on our history and encouraged tribalism(I sometimes call tribalism as REDUCCIONES Mentality) not just that they continued the lies that the spanish told us the original name of the people or region we now as tagalog is the KUMINTANG of batangas.

Philippine Languages/Idioms or the languages/Idiom in the Philippine language group have a continuum to each other that is the truth we should stop trying to distance them from each other, We should allow them to evolve at their natural phase, what the spanish colonial reducciones, encouraged migration did was to destroy the continuum, languages in a continuum do merge when population increase and create a leveling resulting to fewer languages this happened in chinese(especially in mandarin area) and japanese, that could have happened in the philippines if the spanish did not conquer us and that will possibly create a new linguafranca like Mandarin that might possibly spread through out the country, that is the truth.

[matigasngulo]

http://business.inquirer.net/money/topstor...of-Surigao-mine

PHILEX Mining Corp., the country's largest mining firm, recently unveiled the initial mineral resource estimates for its Bayugo project, showing good prospects for its gold and copper mining site in Surigao del Norte.

In a disclosure to the Philippine Stock Exchange, the company said that external consultants and in-house geologists have made an initial estimate of 85.7 million dry metric tons (dmt) of indicated resource with 0.88 percent copper per ton and 0.73 grams of gold per ton.

The experts also estimated 32.7 million dmt of inferred resource with 0.75 percent copper per ton and 0.63 grams of gold per ton.

Boyongan and Bayugo are within the Silangan property in Tubod, Surigao del Norte. Philex has a 50 percent interest in the property, which it acquired from mining firm, Anglo American.

The other 50 percent is held by Philex Gold Inc. (PGI), a Canadian-listed company that is in turn 81-percent owned by the Philex parent firm.

Philex and PGI are conducting more drillings in the Bayugo area to further define the resource and complete the pre-feasibility study, Philex president Jose Ernesto C. Villaluna Jr. said in a disclosure to the Philippine Stock Exchange.

The Bayugo deposit is now comparable to the Boyongan deposit, which was previously announced at 104 million dmt of measured resource (with 0.80 copper grade and 0.99 grams gold per dmt) and 19.8 million dmt (0.79 copper grade and 0.70 grams gold per dmt) of inferred resource.

The exploration program at the Bayugo project is ongoing, and at the time of this mineral resource estimate, a number of “excellent” drill results have been received, which are not yet included in the estimate above, said PGI president Rogelio G. Laraya in a separate statement.

“Once the exploration program has been completed, the complete drill hole database will be used to make an estimate for an updated resource model,” Laraya said.

The positive development on Philex’s new prospect is expected to further improve the performance of its shares on the local bourse.

Philex’s share price has skyrocketed in recent weeks on the back of persistent rumors of a bidding war for control of the mining firm between the groups of businessman Manuel Pangilinan who runs Hongkong-based First Pacific Co. Ltd. and San miguel Corp. president and COO Ramon Ang.

Philex’s share price hit a high of P20 in recent weeks due to this rumor.

On the PSE Friday, Philex shares closed lower at P18 pershare, declining by 6.5 percent along with the broad decline in stock prices, with a total of P267 million changing hands. Riza T. Olchondra

[higaynon]

Dubai debt problems cast shadow over Gulf Arab region
BARBARA SURK, Associated Press Writer
11/28/2009 | 03:00 PM


DUBAI, United Arab Emirates – For years, Dubai seemed unstoppable, an oasis of excess boasting indoor ski slopes and manmade islands, the world's tallest tower and dreams that reached even higher.

Now the bills are coming due, and the emirate's debt problems are tarnishing a place built on borrowed time and money — and threatening to spill into other Gulf Arab nations.

State-owned conglomerate Dubai World's call for a delay in repaying some of the $60 billion it owes creditors will likely make international investors view even more fiscally conservative countries through a lens of uncertainty, analysts say.

The announcement is "impacting everybody in the region — the good and the bad," said John Sfakianakis, chief economist at Saudi-based Banque Saudi Fransi-Credit Agricole Group.

"Right now we're still seeing the impact of this, and the impact will be that everybody is being negatively perceived," Sfakianakis said.

In Dubai and in other Gulf nations, rulers keep tight control over information on their fiscal standing and dealmaking even as they draw in hundreds of billions of investment dollars.

For example, in Saudi Arabia, the Arab world's largest economy, few were aware of the $22 billion debt crunch confronting two of the kingdom's largest privately held conglomerates earlier this year. The news filtered out as the companies fought each other in court, with one accusing the other of fraud.

While international investors were once willing to gamble on Gulf countries, largely because of their oil wealth, the global financial meltdown made them less willing to take risks. The Dubai crisis will only heighten those concerns, analysts say.

"Foreign investors will sharply divide the way they recognize investment opportunities in the Gulf based on which countries have oil and which don't," said Simon Henderson, a Gulf energy specialist at the Washington Institute for Near East Policy.

Unlike Saudi Arabia, Qatar or even Dubai's neighboring emirate, Abu Dhabi, Dubai lacks oil wealth. The government-backed entities known as Dubai Inc. tapped credit markets to engineer the city-state's spectacular growth.

Over the past decade, the tiny emirate, one of seven that make up the United Arab Emirates, transformed itself into a regional financial hub, a magnet for tourists and foreign workers.

It constructed high-rises with stellar Persian Gulf views and an indoor ski slope, and offered a freewheeling lifestyle frowned upon elsewhere in the UAE, as well as the region. A manmade island shaped like a palm frond beckoned. Dubai boldly built the world's tallest skyscraper, Burj Dubai, set to open in January.

The global credit crisis derailed the dream. Property prices have plunged by 50 percent since last year. Projects were canceled, and expatriate workers left en masse. Today, buildings sit unfinished, apartments unsold or empty.

Dubai World's announcement that it was seeking at least a six-month delay in paying back its debt sent shock waves around the world Friday. Oil prices dived to near $74 per barrel, and Asian markets tumbled for the second consecutive day. In the U.S., the Dow Jones industrials lost more than 150 points.

Dubai's overall debt load is seen as at least $80 billion, underscoring how grave Dubai World's announcement was for the emirate's financial health.

Later comments by one of the emirate's top financial officials that the call for a delay was a "sensible business decision" and "carefully planned" did little to mitigate the damage.

Henderson said it was "an extraordinarily arrogant decision," made public on the eve of Thanksgiving in the U.S. and just before a three-day Islamic feast.

"It's impossible they don't realize this will be taken as a personal insult by the world's financial community," Henderson said, adding that it would not be surprising if creditors were unsympathetic.

Fears about the debt problems were compounded by lack of detail provided by Dubai authorities. The announcement also raised worries that reassurances provided by Dubai over the past few months were just an attempt to hide the magnitude of the problem.

"When people don't know what the extent of the problem is, their concerns deepen," said Jane Kinninmont, a London-based specialist on Gulf economies at the Economist Intelligence Unit. Kinninmont said that there is a "real shortage" of economic data to assess the recession's impact on Dubai.

Two Abu Dhabi majority-owned banks had already bought up $15 billion in Dubai bonds as part of a $20 billion program earlier this year. Analysts are concerned that Abu Dhabi may not back all of Dubai's assets, and that international lenders will take a second look at investing there and in other Gulf countries with a history of a lack of transparency.

Already, the effects have begun to surface. Standard & Poor's downgraded its ratings of several Dubai government-related entities, linking its decision to the Dubai World announcement.

"In our view, such a restructuring may be considered a default under our default criteria, and represents the failure of the Dubai government to provide timely financial support to a core government-related entity," said S&P analysts.

Elsewhere in the region, Bahrain-based Gulf International Bank said it was delaying a sale of $4 billion in five-year bonds that had already garnered 60 orders, pinning its decision on Dubai and the "best interest of investors participating in the deal."

The latest news is at the very least a wake-up call to investors, analysts say.
"Dubai's current problems are a long overdue consequence of the bursting of the global property bubble rather than the start of a new financial crisis," analysts at Capital Economics concluded in a research note Friday.

Analysts said they were troubled by Dubai's apparent determination to downplay its financial predicament.

Dubai's ruler, Sheik Mohammed bin Rashid Al-Maktoum, had continually dismissed concerns over the city-state's liquidity and denied for months that the economic downturn even touched the glitzy city-state. Two months ago, he told Dubai's critics to "shut up." - AP

[matigasngulo]

Well, we “happen” to know that President Ronald
Reagan was working directly with President Ferdinand
Marcos of the Philippines on a program to establish a
worldwide, value-based currency. It was known as the
Ang Bagong Lipunan (ABL) program and involved
using the gold of the Philippines as its backing. Many
ABL packages, consisting of the newly printed
currency, documentation and the physical gold
(average “lot” size of approximately 3,500 metric
tons). Each such package—and I repeat, there were
MANY—was worth close to $70 billion at today’s
gold price. There is some speculation that DUBAI,
which now has something like 25% of all the high-lift
(construction) cranes in the World working within its
borders, might have cashed in ONE such ABL
package; and even ONE such package would be
enough to pay off the entire national debt of the
Philippines—in gold, not paper.

"70 billion @ todays gold price" LOL written 2007 / 2008, so now it's maybe 140 ???

Ah, but one had always expected those sheiks to be conservative & prudent investors. more prudent then the people around them or giving them loans

[higaynon]

Well, we “happen” to know that President Ronald
Reagan was working directly with President Ferdinand
Marcos of the Philippines on a program to establish a
worldwide, value-based currency. It was known as the
Ang Bagong Lipunan (ABL) program and involved
using the gold of the Philippines as its backing. Many
ABL packages, consisting of the newly printed
currency, documentation and the physical gold
(average “lot” size of approximately 3,500 metric
tons). Each such package—and I repeat, there were
MANY—was worth close to $70 billion at today’s
gold price. There is some speculation that DUBAI,
which now has something like 25% of all the high-lift
(construction) cranes in the World working within its
borders, might have cashed in ONE such ABL
package; and even ONE such package would be
enough to pay off the entire national debt of the
Philippines—in gold, not paper.

As qouted above, Marcos issued ABL or Ang Bagong Lipunan which is backup by gold.

Now that we are having a floating type currency? where did the gold go ( the gold that backup our ABL currency)?? It is the same gold that comprises our reserved? How much MTs of gold did the ABL or Ang bagong Lipunan equivalent to? ^^

This post has been edited by higaynon: Nov 28 2009, 11:10 PM

[trismegistos]

The Dubai miracle was said to be powered by our ancestor's gold masked as Yama$hita treasure or Marcos gold. I believe it will be returned in the very near future to the rightful owners.

[higaynon]

The Dubai miracle was said to be powered by our ancestor's gold masked as Yama$hita treasure or Marcos gold. I believe it will be returned in the very near future to the rightful owners.

But Dubai has already debt problem as posted above.


repeat ko lang question ko....

As qouted above, Marcos issued ABL or Ang Bagong Lipunan which is backup by gold.

Now that we are having a floating type currency? where did the gold go ( the gold that backup our ABL currency)?? It is the same gold that comprises our reserved? How much MTs of gold did the ABL or Ang bagong Lipunan equivalent to? ^^

[trismegistos]

I have created a thread about the Gold of Ancestors in here...
http://www.asiafinest.com/forum/index.php?...217224&st=0

An interesting ramification presented below if one will reflect the status of the owner of the Sacred Thread...
http://www.youtube.com/watch?v=jYtBVHrCK5w

... is the owner a Sovereign of such a High Status, which will intimidate various rulers of other kingdoms in Southeast Asia if they would be standing side by side by each other. A ruler wearing a golden Sash would intimade or humiliate any Majapahit and Srivijayan royalties from neighboring kingdoms. Imagine a Golden Rajah with his Gold warriours would surely outclass any royals and warriors. Is the owner of that Golden Sacred thread a Srivijayan?

The maritime thalossocracy or alliance of rajanates called by the early Chinese as Sanfotsi and by the early Arabs as Zabag which Coedes collectively called Srivijayas stemming from a Kedukan bukit inscription found near Palembang was said to have a powerful competitor in the south called Wakwak by the early Arabs or Toupo by the early chinese. Is the Butuan-Toubok(Cotobato)area fits the bill for the powerful competitior of Sanfotsi-Zabag? The Tausugs of the Sulu Sultanate were said to be originally Bisayan migrants from Butuan.

Accdg to Knight Arcane...

On early 30's Jose Antonio Diaz first mission ordered by teh Vatican is to look for the more than 600,000MT of Gold that was held unfder the tunnels of Fort Santiago guarded by Philippine Sentinels. The AU belong to the HOARD of the late Lakandula, Rahja Solaiman which is the most inteligent and greedy among the cousins and the Kirams which have the bigest share of the Gold. The Gold belong to the 7 Kingdom of Southeast Asia and the Kirams are the treasurer and safekeepers of those Golds, It is true that some of the Gold came form Kingdom of Europe and other Kingdom brough by the spaniards but majority of teh stocks are hoard of the Royal Family. The purpose of Vatican is to get the share of the Romans where it was kept by the Kingdom of Spain and England and brought to Asia, to stablished a new Kingdom. Since Jose Antonio Diaz is a Pilipino by origin it will be easier for him to make an inventory of the Golds in the bunker of Fort Santiago and to coordinate to teh Royal Family his intentions. JAD had a common friend named Ferdinand MArcos anoterh good intillegent and clever man. He was commsioned by JAD to help him secure the AU. Before the war where JAD and the Sultan of SULU travel to America he met higher -ups

From above it is said that the bulk of the 600,000 metric tons of gold belonged to the Sultanate of Sulu. How come a small land area could have produced an astronical amount of gold? It has become a mystery to me either there was an intention of twisting of the facts until it was revealed to me from some legend or historical accounts that the Tausugs of Sulu were originally Bisayan migrants from the GOLD rich area of Butuan where the Surigao treasures where found. see the link

Logic says that western colonizers came here for GOLD, AND NOT TO BURY THEIR GOLD HERE which is the wrong assumption of various concocted stories like the Knights of Templars burried their treasures in Mu or the Philippines or the plundered treasures from european royals by the Nazis blindly entrusted them to the Japanese for safekeeping and then to be burried in the Philippines as well as the story above of the Vatican treasury getting its way into the underground tunnels of Intramuros seems preposterous. The Spaniard came here not to bury their gold but to plunder. The missions of King Solomon of Israel to Ophir is not to burry their gold in Ophir but to trade for gold. Ophir was speculated as the Philippines even in the journals of Pigaffeta, Magellan was said to navigate to a course going to Ophir or cattigara which leads him to the Philippines.

[higaynon]

It seems that the Gold story is corrupted and many version are coming out.

But as we know, we are now living in the Age of Revelation that many hidden or secrets are slowly revealed and as it happens we uncover the whole truth about our past history. We are expecting that more evidences/relics will be uncovered in the coming years as a clue of our past.

[higaynon]

Gold sparkles in 'perfect storm' for precious metal

By Roland Jackson
Agence France-Presse
First Posted 13:08:00 11/29/2009

Filed Under: Soft Commodities, Markets & Exchanges, Metals, Gold & Precious Materials

LONDON, United Kingdom—Gold prices have rocketed to record heights close to $1,200 an ounce as a "perfect storm" of market conditions propels demand for the precious metal, analysts said.

Gold, whose two main drivers are jewelry and investment buyers, hit a record $1,195.13 an ounce on the London Bullion Market on Thursday.

The glamorous metal has won major support in recent weeks and months from a weak dollar, inflationary fears, and increasing moves by central banks to diversify assets away from the greenback and into the commodity.

"It's all things coming together at the same time—it's a perfect storm," Westhouse Securities mining sector analyst Mark Heyhoe told AFP, adding that gold could strike $1,300 by the New Year.

The metal has now surged by around 50 percent in value over the past 12 months, gaining about 14 percent in November alone.

"What we have had happen in the last three months is a marked change in how gold is being treated," Heyhoe said.

"We have got central banks starting to buy gold again, after the huge sales we had a decade or so ago, and these are particularly the Asian central banks."

Gold hit the latest record after a purchase of IMF gold by Sri Lanka's central bank, before pulling lower as shock news from Dubai rattled world financial markets.

The International Monetary Fund (IMF) announced Wednesday it had sold 10 tons of gold to Sri Lanka's central bank for $375 million as part of a restructuring of its financial resources.

India had bought 200 tons in October 30 for $6.7 billion and Mauritius bought two tons in November for $71.7 million.

"The IMF was selling gold, and we were expecting China to diversify out of dollars and increase their gold holdings, but actually India came in and bought 200 tons," Heyhoe added.

"That made people think there is more to this than just the effect of the weakening dollar."

A weaker greenback makes gold cheaper for buyers using other currencies
, which tends to boost the metal's demand and eventually lift prices.

Earlier this month, meanwhile, the world's top gold producer, Barrick Gold of Canada, announced that it was reorganizing its futures positions on gold.

Barrick decided to buy out its "forward" positions on gold—deals to sell gold at a certain price at a certain point in the future—because the actual price had soared even higher.

That gave a crucial clue that the gold industry's biggest player expected prices to rocket further.

"When you have got the world's biggest gold producer de-leveraging at these prices, it's a strong indication that they think the gold price is going to go higher," added Heyhoe.

However, gold's latest record high point was eclipsed by news this week from Dubai.

The Gulf city state requested a debt moratorium for its Dubai World conglomerate to avoid default—sending world markets into turmoil and sparking fears of another phase of financial crisis.

By late Friday on the London Bullion Market, gold had pared gains on profit taking, to stand at $1,166.50 an ounce.

"Panic profit-taking on the broader commodity markets saw a very stark correction in gold prices, finally breaking the uptrend," said VTB Capital analyst Andrey Kryuchenkov.

However, he added: "The case for gold remains very bullish, with increasing rhetoric over central bank diversifications and US inflation expectations still running high as we go into 2010.

"We are witnessing a dramatically changing environment with bullion becoming one of the favorite investment vehicles within the investment community," said Kryuchenkov.

The metal draws strength from fears of higher inflation because it is regarded as a "safe-haven" investment in times of economic uncertainty.

"For hundreds of years, the yellow metal has been widely seen as a universal currency where countries across the world have sought the precious metal as a store of wealth and of preservation of power," said analysts at Fyshe Horton Finney stockbrokers in London.

"Gold has seen a surge in its fundamental value in recent times and has just recently hit record highs ... and analysts believe this could rise well into next year."

Gold sparkles in 'perfect storm' for precious metal

[azaz]

One person who can still shed light on this matter is the Former First Lady Imelda Romualdez Marcos. A text message sent to me by a well known personality whom I think Trismegistos also know says:

"Imelda Marcos told me personally about that gold and how huge is it. Even showed me documents. Even Swedish psychic Olof Jonsson told me same thing personally"

So, Madame First Lady Imelda Marcos, please tell us more.
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I want to take this opportunity mention that my father, Nicholas A. Achas, passed away last Nov. 27, 2009. I remember an episode in our life, he was in government service and had the power to release trucks of rice from Central Luzon during the rice crisis in early seventies, people were bringing paper bags of money for his approval but only met rejection though we were financially down as my mother was sick (and died in 1978). He died unremembered by most friends, without recognitions, but he will always wear the medals of respect and love from me.

This post has been edited by azaz: Nov 29 2009, 09:27 PM

[trismegistos]

I want to take this opportunity mention that my father, Nicholas A. Achas, passed away last Nov. 27, 2009. I remember an episode in our life, he was in government service and had the power to release trucks of rice from Central Luzon during the rice crisis in early seventies, people were bringing paper bags of money for his approval but only met rejection though we were financially down as my mother was sick (and died in 1978). He died unremembered by most friends, without recognitions, but he will always wear the medals of respect and love from me.

He was a noble person just like you. We offer our sincere condolence.

This post has been edited by trismegistos: Nov 29 2009, 10:23 PM