An article surfaced online claiming that the Bangko Sentral ng Pilipinas (BSP) is considering putting over 100 tons of uncirculated bills and coins into use should the plan be approved by President Rodrigo Duterte.
The report from Okd2.com was said to have come from BSP Deputy Governor Rafael Contreras on March 1. It added that Contreras has revealed that the proposal was already sent to the Office of the President to put the money into use after being stored for over 30 years.
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Contreras was quoted saying: “The government spent billions of pesos to print and mint this money. Should the President allow this to be put in circulation, the government could save more than 130 billion pesos. The BSP can also utilize the space in our storage area if this money is released.”
Contreras noted how 90 percent of the 120 tons of uncirculated bills and another 250 tons of uncirculated coins, comprising the “Ang Bagong Lipunan” money, was printed during the late dictator Ferdinand Marcos’ administration. However, the money’s circulation was suspended when former President Corazon Aquino rose to power, leaving the bills and coins to remain in storage.
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Another quote was attributed to Contreras, saying: “The plan is not to commemorate Marcos, but to use the money wisely and practically. Although the bills have Marcos’ signatures, we believe people would understand as the bills were printed under his administration.”
However, we’d like to point out the biggest lie in this story woven by Okd2.com. There is no BSP deputy governor Rafael Contreras.
Based on BSP Directory, the current BSP Deputy Governor for the Resource Management Sector and Security Plant Complex is Dr. Ma. Almasara Cyd Tuaño-Amador. She was appointed in January to replace the position previously occupied by Vicente S. Aquino, who reached the mandatory age of retirement at 65 on the same month.
The Deputy Governor for the Monetary Stability Sector is Diwa C. Guinigundo, while the Deputy Governor for the Supervision and Examination Sector is Nestor A. Espenilla Jr.
This proves that Okd2.com simply made up the name of a BSP deputy governor by naming a certain Rafael Contreras.
And no matter how we looked for recent news reports to try and confirm Okd2.com’s claims about the re-circulation of unused Ang Bagong Lipunan bills and coins, we could not find any from credible sources.
Okd2.com has made up a lot of stories before, usually mixing real reports with fake ones, to confuse the readers. It is responsible for hoaxes such as the background story behind Jim Paredes’ hate for Duterte, former police officer Arthur Lascañas’ cousin claiming the cop was paid to testify against Duterte, the surrender of an NPA leader and 121 rebels in Bukidnon, and more stories.
The problem is that the story has been widely circulated online.
Be Informed. Beat the Trolls, Share the Truth!
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