GINTO: A Documentary of Kara David

Sixty years after the Japanese Occupation, rumors of gold left hidden in the Philippines still live. In Cagayan Valley, one of the last strongholds of the Japanese during the war, there is a city of tunnels – an intricate network of underground passages that were built by locals in search of hidden treasures.

PART 1



Kara David meets Tatang Ago, 82 years old, a living witness who claims he carried highly valuable and secret packages for the Japanese before the war ended. He recalls being instructed never to look at the contents of the mysterious packages which he believed were tucked away in their town.

Together with Tatang Ago’s son “Ben", Kara David begins her own search for hidden gold and discovers an old balete tree that hides a tunnel underneath. They discover chambers inside the tunnel, and markings believed to have been left by the Japanese. Tatang Ago and his son are convinced that the treasure is within their reach...

PART 2



PART 3


PART 4

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Bangko Sentral released Currency Redesigning Primer

To meet the demand of the market for a more secured currency, the Bangko Sentral Ng Pilipinas has released a primer for the benefit of the public. The primer was issued last March 26, 2010.

The primer contains "Questions and Answers" that would allow the public to understand the purpose of the changing of the design of the current currency which would eventually takes place this coming year 2011.

1. Why is the BSP changing the designs of our money?

As a matter of practice, central banks regularly change the designs of their money - whether coins or banknotes - to guard against counterfeiters. By making it very difficult and costly for counterfeiters to produce exact copies of our money, we protect the integrity of our currency against criminals.

2. How will BSP prevent the spread of counterfeit or fake money?

The BSP is upgrading the security features in all of our banknotes to make it easier for the public to detect fake money. The BSP will mount a nationwide information campaign to educate our people on how to tell genuine banknotes from counterfeits.

3. When will the new currency be distributed ?

The BSP will start distributing the initial batch of new banknotes in December 2010. New coins will be introduced starting 2012.

4. What denominations are covered by the new designs?

All of our six banknote denominations will have new designs: 20-piso, 50-piso, 100-piso, 200-piso, 500-piso, and 1,000- piso. At the same time, all of our coin denominations will have new designs: 1-sentimo, 5-sentimo, 10-sentimo, 25-sentimo, 1-piso, 5-piso, and 10-piso.

5. What will be the size of the new banknotes?

The size of the new banknotes will be the same as the present currency.

6. What will happen to the existing currency in circulation?

The present banknotes will remain in circulation and will continue to be accepted as legal tender for at least three more years. Based on previous currency retirement or demonetization program of the BSP, this will give enough time for the public to make a full transition to our new generation currency. A separate schedule will be followed for coins. Appropriate announcements will be released before and after the introduction of our new banknotes and coins to guide the public and ensure a smooth transition to our new currency.

7. How does the BSP select new designs and security features for our currency?

The BSP has a Numismatic Committee that initiates new design studies and proposes upgraded security features for consideration by its Monetary Board. Once a selection is made, the Monetary Board sends the proposed new designs for the approval of the President of the Philippines.

8. What are the design elements of our new banknotes?

Our new banknotes pay tribute to Filipinos who played significant roles at various moments of our nation’s history. World heritage sites and iconic natural wonders of the Philippines are also proudly highlighted.

9. What are the designs elements of our new coins?

The new coins will feature our national symbols.

10. What are the considerations in the selection of security features for our new currency?

The BSP did research and benchmarking on security features that are available from global suppliers and are being used by other central banks. The security features range from level 1 to level 4 or from highly visible to hidden security elements that can be detected only by sophisticated equipment. The layered security features are as follows:

Level I : Security features which can be easily recognized by the public without use of special instrument. These are the “look", "feel", "tilt” elements in the notes such as watermark, security thread, security fibers, and others.

Level II: Security features recognizable by professional cash handlers/bank tellers with the use of magnifying lens or ultraviolet light. Examples are fluorescent features and security fibers, microprinting.

Level III: The hidden or covert security features reserved for the use of the Bangko Sentral.

Level IV: Forensic security features for the use of law enforcers in testifying whether a banknote is genuine or counterfeit. Forensic features are detectable at specialized laboratories.

11. Is it costly to change currency designs and security features?

There are additional but relatively minimal costs involved in changing the design and upgrading the security features of our money. To the BSP, the benefits far outweigh the upfront incremental costs involved in shifting to the new designs and to abaca-reinforced paper that will incorporate the new embedded security features.

12. Who will produce our new currency?

In accordance with global practice, the preparation of the metal plates and dies for the production of money is done by highly specialized groups called “originators” who will print the first batch of our new currency. For this, an international competitive bidding will be conducted.

After this, the BSP will start printing our new currency using these origination materials. The BSP is also buying new equipment that will increase its printing capacity to meet the demands of our growing population and economy.

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The Platinum Anting-Anting and the Philippine Revolution

Platinum has played a very important role in shaping the history of mankind particularly the world of science and technology. Usage of platinum dates back from the ancient civilization of Egypt and the Roman Empire. However due to the rarity and isolation of the metal unlike that of gold and silver, it can only be found in the history of the western civilization, and in modern times can only be mined either in South Africa or the Ural mountains of Russia. So rare that it is 30 times rare than gold and so scarce that if the entire platinum in the world is gathered inside an Olympic-size swimming pool, it would barely reach an ankle.








Asia has no particular episode in its history where it was indicated that the metal was used except during the early part of the 20th century or before World War II broke out.

In some occasion during the occupation of Spain, some gold coins intended for monetary circulation in the Philippines. Spanish counterfeiters used platinum to counterfeit gold coins because of its high density and its closeness of weight with gold.

Platinum was never considered by the Spaniards as valuable metal because of its high melting point and high-resistant to heat which made it an unqualified candidate for minting coins.

In the Philippines, platinum has never become a subject nor has never been identified as part of any period of its history except for several rumors that the metal was secretly smuggled to the Philippines by the Japanese Imperial forces during World War II. Nonetheless, treasure hunters have pursued this rare metal with no particular evidence of success except for more rumors and tall tales.

Recently, an amulet or "anting-anting" entirely different from any other amulet surfaced and was accidentally discovered. Rarely that a white anting-anting has ever been produced nor have been encountered at all. So different that it was initially thought as made of stainless steel. Its size is exceptional with a diameter of 55 mm and about a millimeter thick.

First, I was hesitant to write an article about it and introduce this to the public since I was not really sure what it is. After making some test and analysis, the amulet was found to be made of platinum.

The discovery of this metal as being thought to have been absent in the history of the Philippines has significantly altered what we know about our past, particularly the period of "The Revolution" between the end of the 19th century and the middle of the 20th century.

According to our history, anting-anting or amulets were worn by the Katipuneros during the revolution to give them strength and protect them from the bullets of the Spaniards. Under equipped and without armors nor shield to repel projectiles, these amulets served (as they believed)as the source of their unusual power and strength.

The inscription written on the amulet is Latin though some of the words seems to be borrowed Latin or pidgin. The formation and arrangement of symbols are masonic while in some part of the amulet coded messages that could represent direction or maps can be seen.

Whatever is written on this amulet is another mystery to solve while its discovery will now definitely create a major impact in the rich history of the Filipino people. Instead of answering a puzzle, this piece of artifact now baffles the world of antiquities and even numismatic. Where did this piece come from? Who made it? Who wore it? And more questions, which I myself still has no answer.

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Cory 500 bill nearing circulation

The long wait of collectors and followers of the late Cory Aquino is finally over as the government is nearing the issuance of the proposed five-hundred peso bill featuring the late president Corazon C. Aquino for circulation, a senior central bank official said.

The new legal tender secured approval from the Bangko Sentral ng Pilipinas’ (BSP) Monetary Board, the agency’s policy-making body, and Malacañang before the end of the year as part of the intended goal of the BSP to redesign our currency.

The new notes are expected to be in circulation before the year ends but special trials and special issues would become available to collectors before that date.

The BSP decided to overhaul designs of all bank notes to keep up with technological advances and to stay one step ahead of counterfeiters, Guinigundo said.

Other new bank note designs may include Philippine attractions such as the Banaue Rice Terraces, and the Underground River in Palawan, he hinted.

Currently, the front of the yellow P500 bank note features the image of Mrs. Aquino’s husband former Sen. Benigno Aquino Jr.

The former senator’s assassination in 1983 triggered a series of protests that led to the EDSA 1 bloodless revolt that ousted then strongman Ferdinand Marcos from power in 1986.

Mrs. Aquino, a key figure in that revolt who sat as president until 1992, succumbed to colon cancer last August 1.

On Wednesday, BSP Governor Amando Tetangco Jr. was quoted as saying that the agency is considering honoring Mrs. Aquino by having her image on the P500 bill.

“Yes, I have asked the numismatic committee to consider the proposal to put up the portrait of former President Aquino in the P500 bill in designing our new generation currency notes," he said in a report.

The committee, led by Guinigundo, is composed of other central bank officials and historian Ambeth Ocampo as representative of the National Historical Commission.

Former BSP Governor Jaime Laya is a consultant.

Once the redesigns are complete, they will go through the Monetary Board and then sent to Malacañang for final approval.

“The notes will go to print upon approval by the President," Guindigundo said, adding that no new print has been previously rejected by a president.

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