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| - SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
Claim: President Ferdinand Marcos Jr.’s presence at the inauguration of Mega Prime Foods Inc.’s (MPFI) Mega Global Manufacturing Plant is proof that the company knows about the existence of the gold bullion account of the Marcos family.
The title of the video says: “WOW MULTIBILLIONAIRE COMPANY ALAM ANG TUNGKOL SA MARCOS ACCOUNT KAYA TODO SUPORTA KAY PANGULONG BBM?” (Wow, multi-billion company knows about Marcos account which is why it gives its full support to President BBM?)
The video also shows an alleged certificate of ownership made in 1986 for 217,500 metric tons of gold bullion.
Rating: FALSE
Why we fact-checked this: As of writing, the YouTube video containing the claim has over 10,527 views.
No connection: There are no connections that could be made to support the false claim. The video containing the claim stitched two unrelated videos – a Radio Television Malacañang (RTVM) video and a video of an alleged certificate of ownership for 217,500 metric tons of gold bullion.
The RTVM video shows that the alleged gold bullion account of the Marcos family wasn’t mentioned throughout the President’s visit to MPFI’s Mega Global Manufacturing Plant on March 1, 2023.
Even the President himself did not say anything in his speech during the plant’s inauguration that could connect MPFI to his family’s alleged gold bullion account.
Impossible amount of gold: The certificate of ownership for 217,500 metric tons of gold bullion shown in the claim was impossible in 1986, the year declared in the certificate. In 1989, according to M. G. O’Callaghan’s book, The Structure and Operation of the World Gold Market, published by the International Monetary Fund (IMF) in 1991, only 100,000 metric tons of gold had been mined in the entire world.
Even the world’s current total above-ground stocks – which refer to all the gold mined throughout history, is just 208,874 metric tons, according to World Gold Council (WGC) records. – Lorenz Pasion/Rappler.com
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