FACT CHECK: No Marcos gold account in Indonesia

Claim: The Marcos family has an account in Indonesia with 1.1 billion metric tons of gold bullion.

Rating: FALSE

Why we fact-checked this:  The claim was made in a YouTube video posted by PweDelie TV, which has gained 48,000 views, 2,900 likes, and 246 comments as of writing. It was uploaded on September 5, coinciding with the start of the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia. 

The video’s title reads: “ANG NAKAKAGIMBAL NA MARCOS ACCOUNT SA INDONESIA HETO NA! MGA ASEAN LEADERS NAGLALAPITAN NA KAY PBBM.” (The shocking Marcos account in Indonesia, here it is! ASEAN leaders are now getting closer to PBBM.)

The same claim was mentioned in the video’s thumbnail.

The bottom line: The alleged certificate of entitlement briefly shown in the video is fake, and no reputable sources have confirmed the existence of a supposed Marcos gold account in Indonesia. The video also provides no additional proof, only showing clips of officials arriving for the opening of the ASEAN Summit.  

Recycled certificate: Rappler has debunked the supposed certificate of entitlement allegedly signed by former president Ferdinand E. Marcos, indicating a deposit of 1.1 billion metric tons of gold bullion in a special trust deposit. A closer look at the certificate shows a notable discrepancy between the signature on the Bank Indonesia logo and the real signature of Arifin Siregar, who served as the bank’s governor from 1983 to 1988.

Moreover, it’s impossible that the elder Marcos had deposited such a huge amount of gold in a trust account because total above-ground stocks of gold had only reached 208,874 tons as of February 2023, according to the World Gold Council. 

Marcos in Indonesia: The timing of the video’s upload coincides with Marcos’ meeting with fellow ASEAN leaders at the 43rd ASEAN Summit from September 5 to 7.

In his speeches, the President pushed for different issues such as migrant workers’ rights and climate change mitigation. Transcripts of his speeches did not contain any references to the supposed Marcos gold or similar claims.

Repeatedly debunked: The YouTube channel that posted the false claim had previously featured the same certificate in a video fact-checked by Rappler. 

Persistent rumors and false claims about the supposed Marcos gold continue to circulate and have been debunked:

1. FACT CHECK: Video doesn’t show evidence of Marcos revealing family’s gold account
2. HINDI TOTOO: Tagong Marcos gold account sa Indonesia
3. FACT CHECK: Marcos did not discuss family’s gold bullion account at 42nd ASEAN Summit

– Andrei Santos/Rappler.com

Andrei Santos 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.

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