Marcos gold myth

FACT CHECK: Marcos didn’t have 50-year gold time deposit

Rappler.com

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FACT CHECK: Marcos didn’t have 50-year gold time deposit
Fact checks from Rappler and other organizations have debunked similar claims regarding Marcos’ last will and testament and a 50-year time deposit

The claim: Former president Ferdinand E. Marcos’ last will and testament left a 50-year time deposit that contained trillions of dollars’ worth of gold.

Rating: FALSE

Why we fact-checked this: The video containing the claim was posted by a channel with 160,000 subscribers that has garnered at least 1.5 million views and at least 2,285 comments as of writing.

The facts: Rappler had previously published multiple fact checks on Marcos’ last will and testament. The document makes no mention of a 50-year time deposit that contains trillions of dollars’ worth of gold. 

Furthermore, Tsek.ph debunked a similar claim that said Marcos left 7,000 metric tons of gold in a 50-year time deposit from 1950 to 2000. This fact check stated that, while former first lady Imelda Marcos previously said they had in their possession 7,000 metric tons of gold, there has been no evidence to prove this. 

Previously published reports of Rappler, PhilStar, and the Presidential Commission on Good Government (PCGG) had said that the Marcoses’ ill-gotten wealth deposited in banks in Switzerland, Singapore, and the US, have since been turned over to the Philippine government.

Rappler also reached out to the Bangko Sentral ng Pilipinas (BSP) but it did not confirm nor deny the possibility of putting gold in a time deposit account. – Katarina Ruflo/Rappler.com

Katarina Ruflo is a graduate of Rappler’s fact-checking mentorship program. This fact check was reviewed by a member of Rappler’s research team and a senior editor. Learn more about Rappler’s fact-checking mentorship program here.

Keep us aware of suspicious Facebook pages, groups, accounts, websites, articles, or photos in your network by contacting us at factcheck@rappler.com. Let us battle disinformation one Fact Check at a time.

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