The lend lease program between US and UK was seen as an act of solidarity and unity. But in reality it was receivership. UK desperate for weapons it needed vs US had
1. Pay in advance for ammunition and small arms (like buying from China) in gold. UK treasury was stripped of gold;
2. UK companies in US were sold for a bargain
3. 50 old US ships it had no use off, were traded for US bases in UK territory.
There is no way by which US can physically pay back its $37 trillion debt. Not by taxation or reducing its fiscal deficit. US spending is at $3 trillion a year, and its debt service amounts to $1.2 trillion a year or nearly 15% of total GDP.
How will US erase its debt (some say that this has began when Donald Trump signed its strategic reserve executive order) purportedly to preserve Bitcoin and gold value. under a national emergency declaration It will soon be a law
Here how it goes:
1. Gathering bitcoin valued at $132 billion bought by US govt and/or seized in drug operations illegal
While the only offense of the said Barzaga could be the unpalatable posts on Soc Media, a fellow congressman from Batangas Gardiola , said to be peddler of DPWH project, stood by unscathed by any disciplinary action.
The young congressmen aim to protect the name and reputation of the august body which has been embroiled in controversies involving not the protection of peoples treasures but the reverse and then the focus of House was a colleague lambasting the wrong doing at the House. But letting free the real culprits.
People from sideline guessed that Cong Leviste will be next for making bold statements vs corruption in the august House.
Foxconn, the prime contractor for Apple Iphones announced its return to China, investing a billion yuan for its HQ, R & C center, and EV vehicles. Why did Fox Conn and Apple return to China after deciding that the land of Promise was India.
Well, Fox conn did not find the stability and reliability in India which it could in China:
Despite political speeches welcoming the investment Foxconn found itself mired in bureaucracy with imports of raw materials sleeping in Custom Warehouses for days. Shifting policies and regulations
Parts did not arrive on time delayed by days or weeks spelling losses for Fox Conn. In China it took only hours.
Furthermore the Indian workers low on learning curve, had outputs of only 50% functional vs China of more than 90%. China had decades of building its capability and skills of workers. So back to China despite occasional hiccups and higher wages. Good news for China and bad for India.
China is still the manufacturing center of the world and shows its prowess in making electronic products, EVs, heavy equipment, and even airplanes
China has taken provocative actions vs our country PHL but we have to accept these truths
Japan is investing heavily in food security in its homeland and elsewhere in the world: Africa, Asia and South America. It invested in infrastructure: ports, road ways, ships. To facilitate the food security.
This is not going to be good for US market and Japan. Japan has more than 250% of its debt vs GDP and for a long time has fed US with less than market % for its debt. Japan accumulates trade deficit with US over. It has increased its bond rate up to 2% ending the period of free source of funds for arbitrage (borrowing yen for higher yield investment) Japan supported both deficits of US: trade and budget.
What has happened? Japan has decided to grant stimulus package to companies because of static growth of the economy. To finance this QE, Japan has to unload some of its treasuries (Which will not go unnoticed by the world financial market). This puts pressure on US borrowing, now saddled with $37 trillion in debt, higher servicing of its debt, now at 15% of GDP and $1.2 debt servicing. With the QE, the Yen is devaluing and Japan has to prop up its currency
Its now over, the yen is on free fall and very likely its going to be devalued and Japan economy could collapse. Japan was a big headache for IMF for a long time according to former boss Lagarde.
Japan used to be the 2nd largest economy in the world after US, and was the hotbed of manufacturing. But now its famous brands have fallen: Toshiba, Sharp, National, Sony. Now Japan is campaigning itself as a tourist destination. Do you think that this is Karma for Japan, following its atrocities in WW 2.?
What are the other consequences. The carry trade. Arbiters and currency traders, borrowed from Japanese banks at zero or near zero interest and used the same to hedge: buy other currencies, invest in foreign stocks etc to gain some tidy profit. However this feast is over, as the Japanese bonds are now more expensive. So companies on carry trade have to cash out or drown under water. This business, totaling $20 trillion could cause massive strain on world financial liquidity, even for US
This also means that US debt US treasuries will mean more interest expense for US homebuyers and consumer finance from credit cards.
China is also dumping US treasuries due to political and trade tensions And with both China and Japan US two biggest creditors dumping US treasuries, US will find itself paying more for debt and even a liquidity crisis
Also note the end of US Petrodollar and Chinas payment system bypassing SWIFT and BRICS nation bypassing the US dollar altogether. When Eurodollar and Petrodollar start coming home to roost, watch how more US dollars coming home means hyper inflation for USA.
My guess is that the underlings who got scraps will go to jail. But not the big fish. They have not signed any receipts, no transcripts, no witnesses, no videos to link them to the crimes. Who would? Di ba JPE and his CS came out clean? They are smart and will not surely go to jail
The top guys will not be convicted and will not go to jail for these anomalies. All the videos will be claimed as fake and AI generated!?
But the onslaught of public opinion the court of public opinion will surely indict many of those whose names will go down in history. We should listen to calls for abolition of the houses as they are too expensive to maintain (look at huge allowances and office expenses amounting to billions) Enuf.
Aside from the Sgt Guteza testimony this Cos revelation directly lays the responsibility at the doorstep of PBBM for the flood control fiasco. No one can deny now that the flood control plunder has been hatched and orchestrated by no less than the top guy of the country.
Co alleges that he personally delivered P1B in kickback money to Narra st in South Forbes. because the Chief complained that there has been no remittance. (House in Forbes as a loot storage? I lost may admiration for palatial Forbes houses)
I hope retribution, punishment shall be swift and that does not happen again. We did not learn from the crimes of the father, and were lulled into believing that the sin of the father is not the sin of the son. The truth is once a guava, the fruit will always be a guava. Many had hoped the family will redeem the country and we will all have a better future. We were scammed
1. Transformed US military dominance in financial monetary dominance . The pound was the global currency but it was heavily indebted to US
2. Made US the world currency by pegging the gold to $35 dollar. However this was reversed by Nixon when countries drew gold from US with the dollar: France, etc..3
3. It saw the birth of World Bank and IMF
4. Many countries now want to out of US dollar as reserve global currency
because it is:
1. being weaponized and used as a weapon
2. US is plauged by high debt ($37 trillion)
3. US plauged by triple deficit
BRICS especially China want dollar to be replaced by Yuan or Brics appointed currentcy
Chinas digital curerncy and payment system has been launched in Africa. It could spell the end of US Swift and end US control and dominance of the global payment and finance system.
Would it be devoid of control and political intervention (as when US sanctions a country, locking them out of SWIFT) and would it be hack and scam free?
There are news that a Chinese businessman, as private individual CAAMC (inviting investors) who is building a $50 billion replacment/alternative to Panama Canal. But there are whispers that the China govt is behind or supporting the project.
The initial plan was to build a canal at Nicaragua, but was shelved when there was a volcanic erutption. The Nicaragua project promises to be better than Panama which is hounded by drought and flood problems at Lake Gatun. Canals will be deeper and wider For a while Panama was the center of travel between Pacific and Atlantic. Panama is choking and reliance on a single canal poses risk to shipping
It can turn Nicaragua as an economic hub It will generate jobs, and economic activity. The project will lift millions out of poverty
Ships shave off days and thousand of miles going around the dreaded tip of South America at Cape Horn where waves and current collide, drowning thousands of sailors and sinking hundreds of ships
Before railways, goods going to and fro US East and West Coast had to sail this perilous voyage
US debt service stands at 25% of total revenues. Its huge and its eating large chunks of revenues that should go insteand to infrastructure, health, education. What happens next o US?
Companies overwhelmed by rising costs due to tariffs in their inputs in local manufacturing for materials coming from abroad, reportedly petitioned courts to block the emergency power of the president to impose tariff, selectively, but now being used to lay out a broad economic policy.
It appears, (not confirmed yet) that SC of US has blocked the Trump policy of tariff, bringing peace and stability to US local manufacturer businesses.
Many challenge that such a law meant ot punish terrorist could be interpreted boldly to reshape world economy. No man has done this before and it is beng challenged. As of now, this policy is working against the majority of Americans
It does not see to work that way. Prices are higher for cars esepcially since many parts are imported. Inflation thus is raging. And more factories are planning to manufacture offshore.
Tariff plans gone wrong. Will US go back to free trade?
Many say that imposition of tariff is an act of war. You are antagonizing the exporting country and surely will retaliate with tariff vs your goods.
Angono prides itself as being flood free because of its year long river dredging problem. But why is the Lakeside park still flooded (rendering the multimillion art center and other improvements unreachable and unusable And many residents still submerged in lakewaters.
1. Maybe the area where they built on is really the Lake property. (beyond the elevation 12.5 mllm)
2. The coastal road blocking the rainwater from the mountains.
3. Or difficulty with the drainage system.
What ever it is going to be a very wet fluvial procession come November 23, just a few days away.
The launching of the giant bancas was made easier because of the flood. The bancas floated and thus could easily be pushed
SK through its President has ordered a stop to SK funding of PHL projects over alleged corruption. Japan was reported to have taken the same stance (although there is nothing specific about their action) Surely foreign aid even for the two major typhoons we had and earthquake emergencies will stop if there are alleged corruption. (I have seen as a reservist how foreign aid was pilfered at warehouses of operating centers during the Pinatubo eruptions)
When will we as Christian nation have this problem stopped. Is it because of the leadership (Its not the son sin if the father sinned. We have to redo the statements Guavas will always bear guavas. Scorpions will always bite because they were made that way)
The worse thing is about the perception that foreign nations will have about our people and governance. We may fail to reach our GDP target and dream of being an economic powerhouse. Foreign investors will likewise avoid our country like it is plague ridden.
3 cabinet officials have been reported to have resigned: Bersamin - Exec, Pagdamangan - Budget, and Olaybar for Dep Ed. Why did they resign. Bersamin is to be replaced by Recto, Recto to be replaced by Go. We do not know yet the replacement for the Budget Secretary and the Dep Ed Usec.
Were they forced resignation?
Were the resignations made to distance the truth from investigation
And now Bersamin is claiming to have not resigned? (Why was his replacement and that of the successor announced?)
The head of BR committee has been joked as the new Palace spox specifically on the Zaldy Co video on the Php 100 billion budget insertion and that the underlings of the Palace were behind the insertion. He has unofficially replaced Auntie Claire.
That could have been OK but he is the head of an investigating body ferreting out the truth behind the flood control mess. But now he has taken a position and makes him unqualified for the said post
There is much talk about former chief of a former powerful committee is coming back. But look: his networth went up by 3x during a 3 year period. He was involved in various cases which admittedly have been cleared Who among investigating bodies are spotless. Are we wasting further the taxpayers money in this palabas
Why are we having so much investigations that end up with nothing. Entertainment?
A proposed bill in USA (time for US politicians to shine) is threatening the loss and or decline of the Phl BPO industry that brings in $30 billion in revenues and supports 2 million workers. Under the proposed act, US will penalize companies: by not providing loans, grants and benefits if they keep call centers abroad.
A strict monitoring system will produce a Do not reward list of companies that will surely force many US companies to give up Call Centers in the Philippines.
US market is 70% of the PHL BPO total market. This will surely hurt the PHL BPO
What does it mean to the Philippine economy to Philippine workers. ? Many BPO workers wearn as much as $500 -700 /per month exclusive of health care. Quite a blessing.
What would happen to the current BPO workers and the industry supporting this: leasing companies, Cyberzone, buildings housing call centers, housing and rental units for the workers: vans and angkas transporting BPO workers.
This came shortly after a 6.9 magnitude earthquake in Cebu. Meanwhile Mt. Kanlaon erupted today too, and there was a mild earthquake in Cagayan in Northern Philippines.
The end of the world soothsayers say something big is going to happen tomorrow, Octboer 13 2025
The stock market lost P1.7 trillion in just three weeks due to the unfolding flood control scandals.? Do you agree? Or some other factors were at play? This was disputed by Sec. Go as fake news.
His appointment drew various reactions owinng to his past actions vs FRRD and other incidents. And seen as not being independent of the Palace.
What do you think will be the outcome, repurcussion of this appointment
Post appointment: The first act of the new Ombudsman is to run after VP Sarah, exposing the real reason for the appointment. However the position of the VP is impeachable, meaning an impeachment must proceed before the Ombudsman can investite said office
Perhaps it is so massive and so scandalous: ghost projects, cut and paste, uncompleted projects op, etc
Massive 20-25% commissions for just including in NEP, UA, or Bicam, paid in advance. etc. Milking raiding the treasury progressed from pork barrel, PDAF and now flood control projects. How creative our top leaders can be Whom we entrust with out taxes and nations future.
Sen Chiz Escudero, in a privilege speech before a Senate Plenary session points to fmr HOR Speaker Martin Romualdez as the mastermind behind the flood control projects He urged every one to rip the script/narrative of Romualdez to divert attention on the anomalous flood control controversy.
The good senator was seen to be defending himself and distancing himself from: 1 insertions emanating from the Senate; 2. allegations that he received millions of campaign funds from contractor.
This is going to be the start of the fight between two former boss of the Legislative bodies. Where will this lead to? Who will win? Who will be jailed?
Cong Elizalde (Zaldy Co) has sent irrevocable letter of resignation as Ako Bikol Party List Representative amidst grave threat to his and family's life, and amidst lack of due process in current flood control anomalies. Most damning was Orly Guteza testimony before Senate Blue Ribbon committee that directly linked him to the current controversy: ie delivering suitcases full of money to the latter's residence.
He resigned on the deadline given to him by Speaker of the House Faustino Dy III to return to the Philippines
No one knows the whereabouts of Cos family: USA or Europe?
Various names were mentioned by Usec Bernardo in his testimony at the Blue Ribbon committee and there were several: Binay,, (Angara, Revilla) Villanueva. Earlier, Estrada, Escuderos name was dragged into the mess. Will there be more. Will a quorum be lost at the Senate? Will they be recalled? or can they be ousted?
Even Sen Marcoleta is even suspected of having a COI, his wife being an independent director of Stronghold insurance, a vendor of performance bond of the Discayas.
1. Sec Vince Dizon has joked that he nearly jumped into the river while inspectting an uncompleted bridge project. He has been overwhelmed by the immensity of the difficulties at the Dept, and has not yet developed a system to overcome these difficulties
2. Baguio City Mayor Magalong has resigned from ICI.
3. Testimonies from former Usec Bernardo has revealed that the following changes occur after submission of budget at NEP
1. At errata, those that were placed initially disappear, or are reduced, or are replaced by other projects
2. At BICAM more adjustments and insertions
4. The testimony of driver/security of Cong Co, Orly Guteza is reported to be missing and his affidavit is to be discredited because the notary disowned the notarization. That is the only damning evidence that links the scandal to high ranking govt official
5. The testimonies are leading to the highest leaders of the land:
1. Mention of the exec secretary
2. The deliveries of huge sums of cash to houses of Cong Co at Valle Verde and Horizon and MR Aguado residence near the gate of Gate 4 of Malacanang.
This testimony is the only one that links the flood control anomalies to the higher ups
MR denies ownership of Aguado mansion. (After testimony of member of security detail) but:
Romauldez himself has kept vague about Aguado’s ownership.
But his cousin, Philippine Ambassador to the United States Jose Manuel “Babe” Romualdez, in a November 2022 column for the Philippine Star, wrote that Vice President Sara Duterte and then-US vice president Kamala Harris met “at the Aguado residence of Speaker Martin Romualdez” where “they exchanged notes on a number of topics that included Filipino food.”
Photos of the Office of the Vice President from Duterte and Harris’ meeting incidentally show a map of Eastern Visayas displayed at the foyer of Aguado Residence. Martin Romualdez represents the 1st district of Leyte, a province in the Eastern Visayas.
There is a new buzz going around town coming from a sitting lawmaker law bender. Wala nang batas2!
This has drawn a lot of flak from netizens legal circles and public at large.
Perhaps the good senator is tired and sick of parliamentary niceties and technicalities of the law. And maybe why he said that. But that has put his office and the institution into being irrelevant and to be embarrassed of. There has to be parliamentary order so that the gentlemen there would not engage in fistfight. Training and familiarity with the job is probably needed. From being a journo to that of a statesman
Mayor Isko would run after them and PNP will use full force of the law to make them remember not to mess up with law and order. The good mayor evokes sense of peace order and stability. Good work Mayor Isko. Gods Gift to Manila
The alleged mastermind was a lawyer and/or a retired politician.
The new Speaker of the HOR made his first order: cancellation of travel clearance of Elizalde Co, a congressman and alleged owner of Sunwest and its subsidiaries. But it was alleged that he is not coming back. He would rather risk losing his elected position it was alleged.
His location in USA could not be determined. He has made good his exit plan. Good planner
We dont know whether such acts are enough to placate the rioting angry citizens.
It was heart pounding watching these videos. It makes you afraid but you could notice that those leading the violence looked like they are provocateurs and perhaps paid: they wore bonnets, had black clothing and wore masks. They were not protesting or holding a rally. They were destroying and fighting and hurting authorities. They destroyed traffic lights, islands and barriers. This is no way to protest against wrong doing by doing another wrongdoing They are organized. And that should be investigated. The destruction of public property was just as sad and ironic: protest vs those who plundered govt property.
This post condemns the acts of plunder and pillage of govt treasury; equally condemnable were acts of anarchy and crimes against police officers (who had nothing to do with the acts of high govt officials). We value order vs disorder. WE are sure there is still Divine Justice
The Sept rally was a perfect storm for many factors:
1. The Duterte PBBM conflict which included the arrest and extradition to the Hague of PRRD;
2. The flood control scandal which were featured live on TV provoking anger in many of the watchers.
3. The anti PBBM growth wanting him to step down for poor governance
4. The scandalous and hurting display of wealth by nepo babies, the contractors, employees and official of the govt department for roads and highways; pictures of millions stacked for distribution to the commissioners (elected govt officials?)
5. Anomalous GAA with insertions, the diversion of Philhealth, PDIC funds to be part of UA
6. The widespread huge corruption of govt funds and taxpayers money.
7/ The floods brought about by typhoons and coupled with 2.
The riots were bound to erupt and explode and they did.
We do not want this order. We want Peace. in the Philippines
Peace and order has been restored in Manila. Mayor Isko is inspecting the damages in Manila. He vowed to run after the rioters. And destroyers of public property
Its scandalous that the children and wives of politicians are being bashed at soc media because they say, the sins of parents are not the sins of children. But there are laws that prohibit such display of profligacy: RA 6713:
Section 4h: h) Simple living. - Public officials and employees and their families shall lead modest lives appropriate to their positions and income. They shall not indulge in extravagant or ostentatious display of wealth in any form.
Take note nepo babies and DPWH contractors too. Maybe the law declared it so because it hurts. Its like rubbing salt into an open wound. It must include also government contractors and suppliers?
Its not because they want to enjoy, or relax. But because they are laundering money. As we have seen in the case of Alcantara. How do they launder the money. ?
They go to a casino and exchange the cash for chips. They can do any of these things:
1. Lose some of the money and exchange some of the cash for managers check and declare the managers
check as winning
2. Arrange for a game where somebody wins and takes out the winning as managers check.
The winning has thus been laundered quickly.
So as why many laundromats flourish, (there are many dirty clothes and people are tired of washing clothes manually) So do casinos. Many people are laundering dirty money.
This post hate casinos. I do not admire tycoons who are into casinos. They do not add to the economy but they destroy and subtract. They are useful only to the owners who rake in billions and help steal billions from the govt coffers through money laundering. They propagate a false sense of success to the winner and make others addicted.
In many cities in USA where there were casinos, blight has crept in and rise and fall of the casino players contribute to this. Also crimes abound. How much do we know about Vegas lately?
Due to this investigation of corruption and we relate this to beautiful clothes, cars, mansions of celebs, we need not feel slighted nor feel less privileged anymore. Whether they wear AP, or Rolex or Philip Patek or Lamborghini Miura, or a Ferrari F40 or they are fashion icon wearing fabulous jewelry, we should lessen our admiration of them.
There was a classmate (he is now deceased) who wears a necklace of high karat necklace who used to be a contractor at DE 2 at a nearby province. The DE close to him was a kumare pa.
This post met a contractor also for DE in an island province. She is a HO account of a bank and was known to order closure of a jewelry store in MM. She has properties in key cities of Asia. When I met her she wore earrings rings, bracelets of diamond (high karat) and a gold watch with diamonds. It could have been several millions.
But now they are probably hiding these stuff. They could have sourced from illegal deals or worse stolen from taxpayers money. As this investigations are ferreting them out It is safer not to show the spoils of theft and besides it is prohibited under RA 6713, 4h
1. How did we get into this? The leader should know the head leads the tails.
2. The cousin was involved and was tolerated And there are indications that a very close relative is also involved.
3. It all started with the UA, amounting to more than P500 billion, that were taken out from other GOCCs: Philhealth that went into UA and the insertions. It came from the GA that was signed by the President
4. The good department did the MO (looked for contractors licenses did the ghost substandard projects) and the manipulation and even the connotational body supposed to do the oversight, apparently blinded the % did not see the ghost projects, substandard etc. Probably may parte sa %. It was a massive systemic graft and corruption
Mga terms mga opportunity for corruption
1. Insertion
2. "Parking"
3. "Sagasa"
4. Moro moro bidding;
5. Highest bidder sa bigayan
Rental of the license: I was invited by the CB of PN to rent out our license for 5% I did not agree because this does not even cover VAT.
May this be a healing and cleansing moment for the HOR. May the new Speaker be successful in his promise.
Really it is a time to clean the House get rid of the clowns, and puppets and the criminals. The entitled persons to pork barrel, the PDAF, and now the flood control funds and insertions
It is time for redemption.
However serious doubts are all ready being cast whether he can rid the house of pests.
He got elected with 253 votes. I met his father a decade ago during the time of Erap. He visited Erap in Tanay and visited our office for a possible business deal. His entourage consisted of about a dozen armed guards.
This post fervently hopes that crimes against the people with the wholesale plunder (will this be tried in ICC) will be stopped and the cases filed before the proper courts so that the guilty can be punished. No need for revenge protest rallies, burning of houses, and robbery of the houses of the representatives. (not thieves)
Finally the nation can relax a while and avoid a dangerous confrontation with the ugly angry mob crying for stop to the perceived injustice and the continuing plunder of the Philippine Treasury. The head of the state is wondering how come we got into this. Its funny. The Head leads the tail. What happens to the country and the rest of the govt is due to his leadership: its absence or presence. And the speaker is blood relative.
Maybe the Presidency downfall is next to come. What has happened to the country: a plunder of the highest order must be stopped. The fingers point resigned SHOR and his cohorts as the probable cause Cases yet have to be filed. The father could have ordered a firing squad for the offenders. All that they did was a defiance of what the Lord has ordered for us to do on this earth. Even what the nepos are doing, flaunting their riches (which they claim did not come from the people- maybe from God) is all ready sickening. Thanks the Lord for this reckoning and for the reflection that took place in the conscience of this person. May the Lord have mercy on his soul.
The public has had enough of corruption news and has gone into protests because of the moro2 and what is perceived as gloved approach to handling these scandals. A rally was held at EDSA today, and much bigger one tomorrow. There were other leaders calling for attack on the houses of the corrupt congressmen
Filipinos are probably tired and sick of large scale corruption and plunder of flood control projects amounting to millions: ghost, uncompleted projects, substandard. And large billions of kickbacks too involving top govt DPWH officials and legislators.
First it was in Indonesia, then Nepal. And soon....
The root casue was insertion and somebody from Bicol and another powerful persons in the Legislature. They should e stopped. We hope even Hell accepts them
The contractors who are being pressed to tell names linked at least 3 senators and 60+ congressmen to flood control ghost projects and other anomlies. Sen Lacson, now the Chair of blue ribbon committee cautioned however that they can not be charged without valid receipts ... He3. They will not sign receipts. Who does (Judas)
I dont think so. But due to their pride and search for fame, they included themselves in profligate display of luxury and wealth. Their parents request please do not include them. We the netizens did not cause. It is the choice of the nepo ladies and their parents ..
The protests in Indonesia over increase of allowances of lawmakers sparked awesome destruction and trouble. Will this happen in PHL amidst much greater amount of money alleged to have been stolen and the profligacy being posted by the nepos.? This post thinks what happened in PHL is more outrageous
Where were our activists when legislators in the PHL voted unto themselves huge emoluments The flood control anomalies, budget insertions and ghost projects have to stop And the perpetrators jailed. Will that happen. The heavens took the first step by dumping huge amount of rain at the HQ of the manggagatas...
Why did he resign? Maybe its out of delicadeza or shame. Thats the least he could do, short of committing the Japanese harakiri to protect his honor.
But a sinless man would run to rather than run away from the problem. May be it is too huge problem for his office to solve and has ruined his beloved Departmetn for so long, and he has allowed the corruption to fester.
How about Sec. Mark Villar? He had no prior knowledge about this? What did he do to stop these corruption?
