Claim: President Ferdinand Marcos Jr. is using the interest earned by his family’s alleged gold bullion account to fund big-ticket projects of the Department of Public Works and Highways (DPWH).
Why we fact-checked this: The YouTube video containing the claim has over 20,240 views as of writing.
No concrete evidence: The video did not show any proof that supports the claim. Instead, it showed two unrelated clips – an alleged Banco de Oro gold bullion deposit certificate owned by the Marcos family and DPWH Secretary Manuel Bonoan’s press briefing for the Malacañang Press Corps (MPC) on March 14, 2023.
The Banco de Oro gold bullion deposit certificate was debunked in a previous Rappler fact check article. It showed the certificate, allegedly signed by former president Ferdinand E. Marcos, with a Banco de Oro logo used seven years after Marcos’ death.
Real funding: A Presidential Communications Office (PCO) transcript of Bonoan’s press briefing made no mention of the Marcos family’s alleged gold bullion account being the source of funding for the big-ticket projects he cited during the briefing.
The public works secretary said that the projects are financed by public-private partnerships, development assistance, and local government funds. – Lorenz Pasion/Rappler.com
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