The Debt That the Republic need to look back

Summary of the text from:

THE PHOENIX PROJECT JOURNAL VOLUME 40, NUMBER 5

MAY 21, 2003 Page: 05   

    Judge Agana, in his DECISION WITH COMPROMISE AGREEMENT and his two “Clarificatory Orders” of 1974 and 1976, required that the Tallanos establish the “DON ESTEBAN BENITEZ TALLANO & DON GREGORIO MADRIGAL ACOP FOUNDATION, INC.” to hold and administer the assets of the Estate.  In addition to the land held under ORIGINAL CERTIFICATE OF TITLE (OCT) No. T 01-4 (described in the April 9, 2003 issue of CONTACT), those assets include a payment of 2 billion pesos that should have been made by the government to Tallanos in 1968 for the land used by government buildings and land given to farmers under the program termed Agrarian Reform. The government, in a move to delay the payment until 1978, proposed that its bank, Land Bank of the Philippines, issue five bonds of P400,000,000 each, due and payable in 1978.  The interest rate of 7% per year would be raised to 10% as a penalty if the Bonds were not redeemed on time.  After compounding at 7% for 10 years and 10% for nearly 25 years, on May 15, 2003 the government owes the Foundation more than 41 billion pesos. In 1995 Judge Sofronio G. Sayo imposed additional fines and penalties on the government for its “dilatory tactics” which now amount to nearly 10 billion pesos. The royalties due for the 400,000 metric tons of gold held in the Central Bank (which we read to mean the National Treasury) amount to more than 10 trillion pesos, in the aggregate more than 200 billion U.S. dollars. When the government authorizes the use of the DEEDS OF ASSIGNMENT FOR CONSIDERATION of GLOBAL ALLIANCE INVESTMENT ASSOCIATION as banking RESERVES, the Philippines can join with GLOBAL (GAIA) in a Joint Venture Partnership to begin to buy the gold from the Foundation.  As the National Treasury issues pesos to the Foundation, title to portions of the gold pass to the National Treasury, increasing its RESERVES, but this increase is in GOLD, and soon it will have enough upon which to proclaim its currency “gold-based”.  Gold-based currency is acceptable as “foreign exchange” anywhere in the world (and will soon become the currency of preference). More than fifty years have passed since the Philippines gained its Independence and during all of that time the government has paid so little to the Royal Family that it has had no money with which to pay its real estate and property taxes.  Perhaps its failure to set up the Foundation and organize itself to properly administer its large assets served as the government’s excuse for not living up to its part of the AGREEMENT.  On the other hand, neither the Marcos Administration nor any subsequent administration has made any overture to the Court Appointed Administrator, Prince Julian Morden Tallano, to cooperate in the solution of the impasse. When the government pays its debt to the Foundation, the Foundation can pay its accumulated billions of pesos of taxes due, which will flow to the municipalities and barangays, giving them the money needed to build, repair and maintain their roads, streets water and waste systems, schools and hospitals and civic facilities.  Doing so will put to productive work every able-bodied man and woman in the nation. It is the intent and commitment of the Global Alliance Investment Association to serve as the catalyst to bring together the government and the Foundation into a tripartite effort to release the wealth of the nation for the use and benefit of God’s PEOPLE.  If this sounds “too simple” or “too good to be true”, just remember that God’s solution to problems and His answer to prayers most often are simple and present in a way you might least expect. What follows will be extracts from the 1972 DECISION WITH COMPROMISE AGREEMENT offered as confirmation of our statements above about the wisdom and integrity of Judge Agana.

        Let us pause to clarify a point that might be missed on a first reading of the preceding two paragraphs.  Judge Agana, in those paragraphs, revealed the mechanics of the biggest attempted land-grab ever in the Philippines.  The Macapagal Administration, represented by its Solicitor General Felix Makasiar, had prepared its case, using its “government Position Paper” to irrefutably establish the “proof of ownership” of Tallanos while forever wiping out the claim of Hermogenes Rodriguez.  Makasiar then sent the “summons and subpoenas” to the Tallano’s old addresses, not expecting them to find out about the case and show up in court to intervene.  The intent was to show that OCT 01-4 belonged to the Tallanos, that there was no heir to the Estate, and therefore it should revert to the National Government through the principle of Public Domain.  However, Benito A. Tallano learned of the scheme in time to intervene, leaving the government no recourse but to enter into the DECISION WITH COMPROMISE AGREEMENT.]  

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