DO NOT CONTINUE READING
This is the last time I will ask you this. Are you sure na gusto mo pang basahin itong blog na ito? This blog might change who you are. If you are not sure kung tutuloy ka pa sa pagbabasa I highly suggest na you stop here.
Don’t be too hard on yourself. Stop here.
I WARNED YOU.
LET US BEGIN.
Ni minsan ba naisip mo din ang halaga ng pera? Look at this picture.
Try ninyo mag imagine…. Paano kaya kung meron kang machine na pwedeng mag print ng pera? hmmmm….. Unlimited supply ng pera yun… Mabibili mo na ang pangarap mo na sports car…yung red…
Kumapit kayo ng maigi kase ang mga susunod ninyong mababasa ay maaring yumanig sa mundo ninyo.
A group of people in Bucas Grande Island, Surigao del Norte, are calling themselves citizens of Maharlika Nation, an independent tribal or indigenous people’s nation with its own currency called G Zion. The spokesman of Maharlika Nation, Glenly Elorico, claims that one G Zion is equivalent to P200 and denominations of their money are from one to 100,000. Their International Bank of Maharlika issues the money and is seeking recognition from local private banks.
The promise of money drew hundreds of people from different provinces to visit the 24-hectare property of Maharlika Nation in Bucas Grande Island and register as member.
While Elorico insists that G Zion is legal tender whose value is backed by gold, those who have the money should wait for instruction from banks before they can use it or get their payout in peso. Just like Kapa and ZFT, Maharlika Nation is also registered with the Securities and Exchange Commission.
CAN EVERYBODY MAKE THEIR OWN CURRENCY AND PRINT THEIR OWN MONEY?
Long before the Spaniards came to the Philippines in 1521, the Filipinos had established trade relations with neighboring lands like China, Java, Borneo, Thailand and other settlements. Barter was a system of trading commonly practiced throughout the world and adopted by the Philippines. The inconvenience of the barter system led to the adoption of a specific medium of exchange – the cowry shells. Cowries produced in gold, jade, quartz and wood became the most common and acceptable form of money through many centuries.
Barter rings made from pure gold, were hand-fashioned by early Filipinos during the 11th and the 14th centuries. These were used in trading with the Chinese and other neighboring countries together with the metal gongs and other ornaments made of gold, silver and copper.
SPANISH ERA 1521-1897
The cobs or macuquinas of colonial mints were the earliest coins brought in by the galleons from Mexico and other Spanish colonies. These silver coins usually bore a cross on one side and the Spanish royal coat-of-arms on the other.
The Spanish dos mundos were circulated extensively not only in the Philippines but the world over from 1732-1772. Treasured for its beauty of design, the coin features twin crowned globes representing Spanish rule over the Old and the New World, hence the name “two worlds.” It is also known as the Mexican Pillar Dollar or the Columnarias due to the two columns flanking the globes.
Due to the shortage of fractional coins, the barrillas, were struck in the Philippines by order of the Spanish government. These were the first crude copper or bronze coins locally produced in the Philippines. The Filipino term “barya,” referring to small change, had its origin in barrilla.
REVOLUTIONARY PERIOD 1898-1899
General Emilio Aguinaldo, the first Philippine president, was vested with the authority to produce currencies under the Malolos Constitution of 1898. At the Malolos arsenal, two types of two-centavo copper coins were struck. Revolutionary banknotes were printed in denominations of 1,5 and 10 Pesos. These were handsigned by Pedro Paterno, Mariano Limjap and Telesforo Chuidian. With the surrender of General Aguinaldo to the Americans, the currencies were withdrawn from circulation and declared illegal currency.
AMERICAN PERIOD 1900-1941
With the coming of the Americans 1898, modern banking, currency and credit systems were instituted making the Philippines one of the most prosperous countries in East Asia. The monetary system for the Philippines was based on gold and pegged the Philippine peso to the American dollar at the ratio of 2:1. The US Congress approved the Coinage Act for the Philippines in 1903.
The coins issued under the system bore the designs of Filipino engraver and artist, Melecio Figueroa. Coins in denomination of one-half centavo to one peso were minted. The renaming of El Banco Espanol Filipino to Bank of the Philippine Islands in 1912 paved the way for the use of English from Spanish in all notes and coins issued up to 1933. Beginning May 1918, treasury certificates replaced the silver certificates series, and a one-peso note was added.
THE JAPANESE OCCUPATION 1942-1945
The outbreak of World War II caused serious disturbances in the Philippine monetary system. Two kinds of notes circulated in the country during this period. The Japanese Occupation Forces issued war notes in big denominations. Provinces and municipalities, on the other hand, issued their own guerrilla notes or resistance currencies, most of which were sanctioned by the Philippine government in-exile, and partially redeemed after the war.
THE PHILIPPINE REPUBLIC
A nation in command of its destiny is the message reflected in the evolution of Philippine money under the Philippine Republic. Having gained independence from the United States following the end of World War II, the country used as currency old treasury certificates overprinted with the word “Victory”.
With the establishment of the Central Bank of the Philippines in 1949, the first currencies issued were the English series notes printed by the Thomas de la Rue & Co., Ltd. in England and the coins minted at the US Bureau of Mint. The Filipinization of the Republic coins and paper money began in the late 60’s and is carried through to the present. In the 70’s, the Ang Bagong Lipunan (ABL) series notes were circulated, which were printed at the Security Printing Plant starting 1978. A new wave of change swept through the Philippine coinage system with the flora and fauna coins initially issued in 1983. These series featured national heroes and species of flora and fauna. The new design series of banknotes issued in 1985 replaced the ABL series. Ten years later, a new set of coins and notes were issued carrying the logo of the Bangko Sentral ng Pilipinas.
As the repository and custodian of country’s numismatic heritage, the Museo ng Bangko Sentral ng Pilipinas collects, studies and preserves coins, paper notes, medals, artifacts and monetary items found in the Philippines during the different historical periods. It features a visual narration of the development of the Philippine economy parallel to the evolution of its currency.
To answer the question if kahit sino lang pwede gumawa ng kanilang sariling pera, Big NO! Banko Sentral ng Pilipinas lang ang may karapatan na mag issue ng ating currency.
REPUBLIC ACT No. 7653
THE NEW CENTRAL BANK ACT
CHAPTER I — ESTABLISHMENT AND ORGANIZATION OF THE BANGKO SENTRAL NG PILIPINAS
CREATION, RESPONSIBILITIES AND CORPORATE POWERS OF THE BANGKO SENTRAL
Section 1. Declaration of Policy. – The State shall maintain a central monetary authority that shall function and operate as an independent and accountable body corporate in the discharge of its mandated responsibilities concerning money, banking and credit. In line with this policy, and considering its unique functions and responsibilities, the central monetary authority established under this Act, while being a government-owned corporation, shall enjoy fiscal and administrative autonomy.
Section 2. Creation of the Bangko Sentral. – There is hereby established an independent central monetary authority, which shall be a body corporate known as the Bangko Sentral ng Pilipinas, hereafter referred to as the Bangko Sentral.
LET ME INTRODUCE YOU TO MAHARLIKA NATION AND THEIR MONEY
This might be funny to some people but the fact na there are a lot of people na naniniwala sa ganito is really sad. It shows you the level of financial literacy our kapwa Pinoy have.
EVEN JESSICA SOHO FEATURD IT
Aswang is a good story to scare kids from staying out late sa gabi. Telling an aswang story is ok. Believing that they exist is not. To dream to have your own currency or money is ok. Believing you can do that and convincing other desperate people who badly need money to believe is not ok.
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