Apr 16, 2007 6:29 am (PST)
THE TERRIBLE CALAMITY OF DEBTS IN THE PHILIPPINES

By Eric V. Encina

THE OUTSTANDING PUBLIC SECTOR DEBT OF THE REPUBLIC OF THE PHILIPPINES NOW HITS P5.1 TRILLION 2005-2006-2007 against the 2007 NATIONAL BUDGET OF P1.126 TRILLION . Out of P1.126 Trillion, and according to other documents, P330 Billion for automatic payment for interest plus P270 BILLION automatic appropriation of interest at the end of 2007 (P900 billion or US$12 Billion) to national debts according to Presidential Decree:

WHILE MILLIONS OF POOR FILIPINO FAMILIES, CHILDREN IN THE COUNTRYSIDE ARE IN THE TRAP OF DEBT AND POVERTY, HOPELESSNESS AND DEADLY HUNGER. Debts are PRESENTLY INCREASING MORE AND MORE through another loans to WB, IMF and to other foreign-bilateral financial institutions, et al. also with population control conditions.


LOANS AT USURY THAT NEVER FEED DOWN TO THE POOR FILIPINOS BUT ONLY TO THE POCKETS OF CORRUPT GOVERNMENT OFFICIALS AND ONLY GOING BACK TO MOST ECONOMIC HITMEN SENT BY THE SUPERPOWER NATIONS!

How long must we, Filipinos, remain stupid, to pay interest and debts of the Philippine Government that, we majority of us, did not benefit from these enormous loans?

Total Domestic debt rose by 2.1% at P1.7 TRILLION while total PUBLIC SECTOR FOREIGN DEBT at 7.5% to P3.3. TRILLION. Admitted by the Philippine Dept. of Finance that debts increased due to the net issuance of government securities made by the Philippine National Government.

Philippines is in the abyss of debts, choking, killing barbarically, mercilessly. Poor peoples in endless and perennial poverty, maintaining their less than US$.50 cents daily, not just less than US$1 daily. Some, many are dying in hunger. Worse effects: endless financial-economic crisis, political crisis of political parties, dreadful poverty, the loss of money of money, heavy inflations, increasing prices of basic needs, indebtess of peoples, increasing taxes, like 12% and likely going to increase to 15% expanded value added tax in the near future, expectedly by 2010 just TO SERVICE THE TERRIBLE DEBTS. I met fellow poor Filipinos daily and have the same deadly situations in poverty and hunger. But FILIPINOS ARE COWARD FOR A REAL REVOLUTION AGAINST THE PRESENT MONEY SYSTEM. It seems peoples are already anesthesised by the wicked system of finance.

THE RESULT IS TREMENDOUSLY CATASTROPHIC TO ALL OF US MORE THAN ANY CASTASTROPHIES ALL OVER THE WORLD.

Filipinos already taste death in hell before the actual death under the system, and certainly most third world nations and peoples. There is no hope under the crooked system/anti- life/family system. Philippines is already sold out through the hateful economic hitmen to international bankers, to multinationals, DRUG, CHEMICAL companies that promote chemicalised, GMO farming, fake drug medicines, vaccines, to international population controllers WHO ARE BEHIND THE LEGALISATION OF ABORTION, same-sex marriage, divorce and euthanasia.
Right now the foreign and the so-called powerful “global interest” present, demand, dictate, pressure, threaten on THE MOST BITTER PILLS, the prescriptions that are out of touch with national realities and needs and even outside of the ambit of the peoples legitimate demands and needs. 80% of the poor Filipinos in Capiz are trying to survive even in less than US$.50 cents or US$1 daily. Most of the relatives here are working as domestic helpers or entertainers overseas with few professionals. FOR CERTAIN, FILIPINOS WORKING AND RESIDING OVERSEAS will not come back here unless they are arrested for immigration law violations.
DAMNED 10-12% Expanded Valued Added TAX from hells of IMF and WB:
Following the legislation and implementation of 10% to 12% EXPANDED VALUED ADDED TAX (E-VAT) CONSENTED BY THE PHILIPPINE SUPREME COURT JUDGES as “necessary” to economy to raise more taxes for development, and as IMPOSED by draconian anti-life/family IMF and WB, COUPLED BY MONETARY INCENTIVES TO TRAITOROUS FILIPINO LEADERS and economists and their boundless and insatiable corruptions, this 12% EVAT may likely increase another 15% to which the damned obsequious technocrats have given totally blind and tentendious hosannas and hurrahs for this IMF HELL-PILL WITH OR WITHOUT KNOWLEDGE of PERPETUATING THE DAMNED MONEY SYSTEM from hell for the feeding of US$BILLIONS of INTEREST that right now P600 BILLION INTEREREST FOR 2006 to these dinasaurian global finance capitalism at the deadly expenses and death of the INNOCENT AND POOR FILIPINOS: in poverty, in diseases, in violence, in unemployment, in escalating rebellion, in calamities, etc.
The results: loss of value of our Philippine money, being dollarised, expensive and damned prices of basic needs, THE INCREASING RATES OF RENTS, RATES OF GASOLINE, of water, electric, telephone services, clothes, education, books, tuition fees increasing, transportation fares increasing because of 12% E-VAT, and thus most basic living essentials are increasing monthly. EVEN FARMING TOOLS ARE NOW VERY EXPENSIVE. Under the system, more cases of abortion and violence in the province, in the countryside.

I SHOUT TO THE WHOLE WORLD while weeping, Philippines needs pro-life/family- based financial-economic solutions but FILIPINO LEADERS CHOOSE TO BE IGNORANT, REMAINED TO BE SILLY, COMPROMISED, THEY THEMSELVES BECOME ECONOMIT HITMEN, and agents of the anti-life fraternities, while most Filipinos too coward and too complacent. Our country is severely groaning and moaning in the merciless throes of national never-ending crises without hope in sight under the system that precisely threaten the very viability and existence of Philippines as a nation.
Under the system, any time we wish to add to the national wealth, we are compelled to add to the burgeoning national debts with skyrocketing interest payments to rapacious global mega-bankers, private, commercial and foreign bankers.

IF OUR NATION CAN ISSUE A PESO BOND OR SECURITIES, IT CAN ALSO ISSUE A PESO BILL. THE ELEMENT THAT MAKES THE BOND GOOD MAKES THE BILL GOOD.

THE ONLY SOLUTION TO PHILIPPINES IS:

GOVERNMENT CREATED DEBT FREE MONEY to save life, to save family and give economic security to the poor population. If not, WHAT ELSE?

LET THE PHILIPPINE GOVERNMENT CREATE AND PRINT MONEY debt and interest free let say P2 Trillion Pesos, not through the private, commercial, foreign and international bankers. There is no lack of papers, ink, figures to print the money. Money problem is not a supernatural nor a natural problem but an artificial problem and thus can be adjusted to the needs of men. Poor Filipinos ARE WAITING FOR HOPE! Prayer is not enough. Catholic Church can't also do anything under the debt money system or the Catholic Church must create debt and interest free Catholic Currency too to exist along with other currencies, and thus to be distributed as dividend to all Catholics all over the world.

How long the Filipino government leaders remain silly and Filipino people as a whole coward, complacent and timid for change? How long the IMF and WB suck wealth of the poor peoples and of the third world nations?

O Lord, how long the power of mammon over life last?

Real Filipinos who are concerned to life, family and justice must fight for the general welfare of the Filipino people. Let us fight for pro-life/family/ justice economic system in the country and provide economic security to everyone, to every family, salary for the mother at home, for every Filipino child from the cradle to the grave.

I CHALLENGE FELLOW FILIPINOS TO TAKE ACTION OR ELSE LET THIS NATION AND ITS PEOPLE "PERISH", WITHOUT HOPE, WITHOUT VISION AND WITHOUT JUSTICE, IN THE ABYSS OF MISERIES!


Eric V. Encina
Filipino Monetary Reformer
Filipino Alternative Solutions For Sustainable Survival Movement
c/o Lito Alhambra Old House, Homesite, Km2, Brgy. Lawa-an,
PO Box 8, 5800 Roxas City, Capiz, Philippines
Tel. No. 0063 36 6216-454
ericencina@yahoo. com