00:46.8
After all of his trips
00:48.5
Nakakapagod talaga mag-travel
00:54.0
Nag Greenland, Sweden, Denmark, Singapore
01:00.0
Medyo napagod tayo
01:01.5
So alam natin yan
01:02.8
Nakikiano tayo sa ating minamahala presidente
01:05.7
Napagod naman sa kaka-travel
01:08.1
Nag-run out of steam na daw
01:13.0
Okay, okay mga kameta
01:15.9
Marami tayong pag-usapan today
01:17.4
Hindi lang itong minamahal natin presidente
01:21.0
Semiconductors, high quality investment
01:25.7
Banko Sentral ng Pilipinas
01:27.5
Ang laki ng baksak
01:32.2
Yung profits ng Banko Sentral
01:35.8
Medyo 70% na baksak
01:38.3
Ito po yung Banko ng Bayan
01:40.5
At that raises big questions
01:42.3
Of course mga kameta
01:43.2
About the future of Maharlika
01:45.6
Sovereign Wealth Fund
01:47.4
Kung yung BSP natin
01:48.4
Ang hirap na hirap na
01:49.3
At may mga questions
01:52.6
And other institutions
01:53.5
Na mag-fund sa Maharlika Sovereign Fund
01:55.1
That's gonna raise a lot of questions
01:57.3
Sa pag-usapan natin
01:58.4
Lahat ng mga yunong
02:01.1
Dapat sasabihin ko na
02:06.0
Alam mo yung nakakainis yung mga gano'n
02:09.1
Ayaw ko na magsalita
02:11.2
Pero sige magsalita na ako
02:13.3
Alam mo yung mga tipong
02:14.6
Datang nag-high school musical na lang
02:17.5
Tapos ngayon medyo titas of California na
02:20.8
Biglang nati-discover yung pagka-Pinoy
02:23.5
Next thing you know
02:24.7
Nagiging ambassador
02:25.8
Ambassador ek-ek ng Pinasas
02:27.7
Yung iba pa sa kanila
02:29.4
Pinoy na nga sila
02:30.5
Never sila natuto mag-Tagalo
02:33.0
Hindi ko talaga maintindihan yan
02:34.9
Any other half-Asian blood
02:36.9
Chinese, Korean, Vietnamese, Thai
02:39.8
Whatever nakilala ko
02:41.0
May konting effort yung mga bata
02:43.0
Matuto yung mga language na Asian side nila
02:45.0
Ito yung mga half-American, half-European
02:46.9
Whatever, yung mga Eurasian na yan
02:48.4
Ito talaga may makikita tayo
02:52.6
Yung mga gano'n na lang
02:53.5
Hindi nakaisip ko yan
02:55.9
Kasi may nag-comment sa akin
02:57.2
Sir, bakit parang may pagkabento?
03:03.1
Wala akong tuwang na ganyan
03:07.7
Hindi naman ako ganyan magsalita mga kamets
03:10.2
Medyo konyang Tagalog natin
03:12.2
Pero matina naman tayo mag-Ingles
03:13.8
Tingnan nyo naman mga interviews natin sa CNN, BBC, CNBC
03:17.7
Medyo matina naman tayo
03:18.9
Hindi naman tayo mga
03:19.7
Ganyan, ganyan, ganyan
03:21.0
Hindi tayo ganyan na tuwang-tuwang
03:22.5
Hindi ko na sinasabi na si Parang Ben ay ganyan
03:24.9
Ang sinasabi ko lang
03:26.0
Iba yung pagkakonyo namin
03:32.0
Ilang taon ka na te
03:37.4
Hindi ka malang natutup
03:41.0
Yun ang sinasabi ko
03:42.7
Dapat talaga we raise yung mga kababayan natin
03:46.3
Na may either puro
03:50.2
Of course, including yours too
03:52.0
At least nag-effort tayo
03:52.8
Ako nga, mahalo din pa nga ako mag-Ilocano eh
03:54.8
O, mamaya na si Mekos Mekos Insan
04:00.2
Yung Mekos Mekos na yan
04:03.2
Baka gusto mo na gumawa rin
04:04.3
Yung mga kalakuan na ganyang videos
04:05.6
Parang si Mekos Mekos Insan
04:07.5
You know, Mr. Nobody ba yan?
04:08.8
Nagsaya ko, wag na
04:09.4
Baka masira ang karirin natin dyan
04:11.5
Mamaya na tayo maki Mekos Mekos dyan ha
04:15.9
Grabe naman yung kay Mekos Mekos
04:18.9
Bordering racist na yan
04:21.4
Ito naman si Kamekos, oh
04:24.0
Nagalit tuloy yung mga kababayan niya sa kanya
04:27.9
Ang sinasabi ko lang
04:29.5
Doon sa mga mga edugang Pinoy
04:30.9
Wag naman kayo biglang magiging
04:32.4
Biglang ma-rediscover nyo lang yung pagka-Pinoy nyo
04:35.5
Yung karirin nyo sa kabilang mundo
04:38.3
Titas of California na
04:40.0
Wag naman sanang ganon
04:41.0
Tapos kung magta-Tagalog naman kayo
04:42.5
Practice nyo naman ng konti
04:44.3
Mahal kakaya o yung mga ganyan
04:47.4
Hindi naman ganyan mag-Tagalog
04:51.0
Alam ko kung ano yung Tagalog
04:52.6
Kung minsan baluktot
04:55.0
Nag-effort naman tayo mga kameta
05:00.3
Kuhang-kuhang natin yung
05:02.0
Locano vibes natin mga kamets
05:03.9
Bago natin pag-usapan si
05:09.9
Ang pag-usapan natin
05:13.1
Mamaya na tayo mag-Mekos
05:18.3
Masyadong soft yung culture natin
05:20.7
Masyado tayong soft
05:22.7
We have to assert
05:25.0
Distinct Filipina identities
05:27.3
Yung mga kababayan natin dyan
05:29.3
Na may halo ng ibang dugo
05:31.4
Or based sa ibang bansa
05:32.8
O lumaki sa ibang bansa
05:33.6
Mag-effort naman kayo
05:34.5
Magmatuto ng lingwaya natin
05:36.5
Huwag naman ganon
05:39.7
Kahit ganyan baluktot Tagalog natin
05:41.4
Nag-effort naman tayo mga kameta
05:43.9
Mekos din naman yung
05:48.5
Yung background yun
05:51.0
Yung cultural heritage
05:52.3
Masyado tayong soft eh
05:55.5
Dapat we have to assert it
05:57.5
Yung mga kilala kong
06:00.7
Tapos kano yung Tata
06:03.0
Or whatever combination
06:04.5
Nag-effort matuto eh
06:06.2
Nag-effort matuto
06:09.6
Nang Asian side nila
06:10.6
So huwag tayong masyadong
06:11.7
Yung mga Mekos Mekos dyan
06:13.6
Yung miks-miks katulad
06:16.3
I-effort natin yan
06:22.9
Yung Ilocano ko eh
06:25.0
Yung accent ko talaga
06:29.7
Ay, mga ka-Marcos
06:31.1
Ito na, ito na, ito na
06:33.4
Dami natin pag-usapan
06:34.6
So, let me just give you an outline
06:38.6
Yung mga iba dyan
06:39.9
Nagpapatawa lang ako
06:41.3
Pero seryoso akong tao
06:42.6
Okay, so obviously
06:43.8
We're gonna talk about
06:44.4
President Marcos Jr.
06:45.3
Ayan, change tone na
06:46.2
We're gonna talk about
06:46.9
President Marcos Jr.
06:48.2
We're gonna talk about
06:51.7
Well, nakapagod lang
06:53.2
But let's connect this
06:54.1
To something more serious
06:54.9
To something more serious
06:55.4
Well, I want the president
06:57.1
To be at his 100%
06:58.4
Because otherwise
06:59.2
Ang dami natin mga problema
07:00.8
And speaking of the president
07:03.0
Just as we predicted
07:05.5
Just few days ago
07:06.3
Actually, just two days ago or so
07:07.9
Magkakaroon ng change
07:10.1
In position of the government
07:11.1
Dun sa issue ng ICC
07:12.2
International Criminal Court
07:13.3
And that's exactly
07:14.3
What we're seeing
07:15.6
So, kung titignan niyo
07:17.5
Just the other day
07:21.3
Di ba yung position
07:25.4
Na against siya sa ICC
07:27.5
And so much has changed
07:29.2
Kaya nga sabi natin
07:34.8
If talagang kailangan
07:35.7
Some big moves to happen
07:44.6
Just to give a preview
07:46.0
What I was referring to
07:47.2
Dun sa issue ng BSP
07:49.8
Already by September
07:51.2
There were already
07:55.7
Nag-plunge yung profit nila
07:57.0
And then most recently
08:00.5
Yung year-on-year
08:02.3
Dun sa kanilang profit
08:03.2
So, ang dami natin
08:05.5
At I think the president
08:07.6
Seriously reassess
08:08.6
Itong Maharlika Sovereign Wealth Fund
08:10.0
If this is the right time
08:11.1
For a fund like that
08:14.1
Ang lumalabas dito
08:14.9
Sa mga files ko dito
08:21.3
Hindi, do-do-do-do
08:25.5
Ah, ito, ito, ito
08:31.9
Baksak ng profits
08:34.3
BSP is supposed to be
08:35.8
Institutional funders
08:37.6
Or sources of funding
08:38.8
For Maharlika Sovereign Fund
08:39.9
Pag-usapan din natin
08:43.6
O, tama na yung mga
08:44.4
Mekos-mekos na yan
08:45.3
Mag-Marcos na tayo
08:46.4
Anyway, let's go first
08:49.0
What's up with our president
08:52.6
You know, for a while
08:53.5
So, let's see what's happening
08:54.7
Of course, he went to
08:56.1
And then he went to Hawaii
09:04.1
Mahal na presidente
09:13.6
Ayan na naman tayo
09:17.6
Na Freudian slip na na
09:21.6
Okay, mga kamayta
09:28.1
Parang Hawaiian na lang tayo
09:30.3
Sabi nating minamahal na presidente
09:34.0
Sabi ni President
09:39.3
Noong bumalik siya
09:40.1
Napagod-napagod siya
09:42.6
To the United States
09:43.8
Pero okay naman daw siya
09:45.8
Ito yung sinabi niya
09:46.6
Basically, I just ran out of steam
09:48.2
Hindi pa ako nakapag
09:49.3
Recover sa biyahe
09:50.7
I suppose I just need the rest
09:55.5
Diba talagang minamahal natin
09:58.6
Obviously, President Duterte
10:01.6
President Marcos Jr.
10:03.3
We need him at his best
10:04.5
In fairness naman
10:05.6
Hindi madali mag-travel
10:06.6
Ng intercontinental and all
10:08.7
Just to be fair to the president
10:11.0
Of course, alam niyo naman
10:11.8
Marami mga negative reaction
10:15.3
Abang hirap naman ang buhay
10:16.6
Travel and travel
10:17.2
Pero in fairness naman to the president
10:18.4
He had a pretty packed schedule
10:19.8
Meeting President
10:22.3
That was not an easy time
10:23.5
Easy conversation
10:24.4
Medyo tough na conversation yan
10:27.5
Well, hindi natuloy yung
10:28.6
Meeting niya with Elon Musk
10:30.6
Dahil nakasakit naman si Elon Musk
10:32.1
Nakakabiyarin siguro yan
10:33.4
And then, nag-Hawai pa siya
10:34.7
And then, pumunta siya sa
10:35.4
Indo-Pacific Command
10:36.8
Which is, of course, a very
10:37.7
Very, very important meeting
10:39.6
So, in fairness naman to the president
10:43.8
You know, quite active
10:44.9
And doing what is needed
10:45.8
To be done on many fronts
10:47.5
And we need him really
10:50.9
Ang dami mga nangyayari
10:54.1
Now, first of all
10:55.4
First order of things
10:56.8
That President Marcos Jr.
10:58.1
Had to address was
11:00.2
Dito sa issue ng ICC
11:06.3
So, this was a very serious issue
11:08.8
And exactly as I said
11:12.4
Sasabihin nyo naman
11:15.0
Walang nga talaga mga tao
11:19.7
May receive ako ha
11:23.4
Mamaya, by the way ha
11:24.2
Guys ha, mamaya ha
11:27.4
Mangga RRL na naman kami
11:29.2
Yung paborito nyong
11:32.7
Katulad na sinabi na
11:35.8
Saka mahal ko kayo
11:39.6
Nang sinabi natin
11:48.4
The bamboo is kind of
11:50.0
Swinging in a different direction
11:57.2
Weather weather lang yan
11:59.0
So, just as we said
12:00.7
If you look at the statements
12:01.6
By the Department of Justice
12:02.7
If you look at the statements
12:03.8
By the leadership
12:05.1
Of the House of Representatives
12:07.8
If you look at the
12:08.7
Push by some of the politicians
12:10.4
Including not so progressive
12:12.5
Travel politician
12:14.6
To come back to the Filipinas
12:17.2
To the Philippines
12:18.1
Alam natin na medyo
12:19.6
Umiiba ng inip ng hangin
12:23.0
Mekos na yung politika natin
12:33.8
Makamano din tayo
12:35.0
Ng Chamber of Commerce
12:43.6
Umiiba ng inip ng hangin
12:45.2
And this is the Philippines
12:47.4
It's hard to say talaga
12:48.6
Whether alliances
12:50.0
Especially alliances
12:53.6
And here, clearly
12:54.3
Nang kita natin, mga kameta
12:55.3
Things are changing
12:57.3
President Marco Jr. said?
13:02.3
The House leadership
13:04.8
All of the President
13:06.9
Not so progressive
13:09.5
Lahat sila nagsabi
13:10.4
Na kailangan natin
13:11.9
Dahil biglang concerned na sila
13:14.0
Especially yung iba na
13:14.9
Medyo sa kabilang banda sila
13:17.8
Philippines being Philippines
13:18.9
So, President Marco Jr.
13:20.4
Aside from saying that
13:21.1
Medyo he was losing steam
13:23.0
Doon sa kanyang mga biyay
13:25.1
Na now under reconsideration
13:26.9
Itong earlier decision
13:30.9
To the International Criminal Court
13:32.5
Doon sa isang vlog
13:33.7
Pinag-usapan natin
13:34.6
Yung statement ni President Marco Jr.
13:36.9
Around June and July
13:38.6
No, tapos nang usapan
13:40.1
We're gonna do no business
13:43.6
Iba yung inip ng hangin
13:45.4
So, when he was asked
13:48.1
There's also a question
13:49.3
Should we return under the fold
13:51.5
Oh, suddenly biglang
13:54.3
Few months ago lang
13:55.5
Tapos nang usapan
13:56.8
There's a question
14:02.2
So, sinasabi ni Marco Jr.
14:03.4
Na pinag-aaralan ulit
14:04.9
Itong option ng ICC
14:07.2
So, we'll just keep it
14:08.2
Keep looking at it
14:09.6
And see what our options are
14:13.8
Kind of an answer
14:15.0
Non-answer answer
14:17.8
It can tell you also
14:19.4
How fluid the situation is
14:22.7
Katulad ng mga kasama natin
14:25.0
Medyo mapapaisip ka
14:26.8
What's gonna happen next
14:29.5
We see the President
14:30.2
Is conflict avoidant
14:31.4
But it's still leaning
14:32.6
Towards one direction
14:33.5
Which is potentially
14:39.8
Ito yung sinabi ni President
14:40.8
It's really a sense
14:41.6
Of the House resolution
14:43.1
They're just expressing
14:45.0
The sense of the House
14:46.0
That perhaps it's time
14:47.0
To allow or to cooperate
14:48.1
With the ICC investigation
14:51.4
Sinabi ni Marco Jr.
14:52.9
Speaker of the House
14:54.6
Just a few days ago
14:55.5
That wala akong alam dyan
15:03.4
House of Representatives
15:04.5
Gusto nila i-express
15:05.3
Yung kanilang sense
15:06.1
Well, they're free to do so
15:11.8
Within the House of Representatives
15:14.2
Kung makikita nyo dito
15:15.4
Klarong-klaro talaga
15:18.5
Yung inip ng hangin
15:20.9
Pinag-usapan natin
15:22.1
Tsaka your State of Affairs
15:23.5
Earlier this year
15:26.2
President Marco Jr.
15:27.1
In multiple occasions
15:28.0
Is giving a chance
15:28.9
To the other side
15:31.0
Ako ako yung Presidente
15:32.3
Don't forget that
15:36.4
President Marco Jr.
15:38.9
Tried to once again
15:40.6
Medyo conflict avoidan
15:41.7
Alam naman yung style
15:44.5
It's really a sense
15:45.2
Of the House resolution
15:46.5
But as I've always said
15:47.5
There's still the problem
15:54.0
Throwing out of the window
15:55.9
Just few months ago
15:56.8
Pero parang medyo
15:59.6
Doon sa kabilang side
16:04.4
Then that would be
16:05.8
But medyo fundamental
16:06.9
Yung mga question
16:11.0
Academic conferences
16:13.1
But the question is
16:14.6
The bigger question is
16:16.9
Because if you're talking
16:18.0
About the jurisdiction
16:19.3
Especially since that
16:20.1
We have withdrawn
16:20.7
From the Rome Statute
16:22.3
That brings in the question
16:24.2
This is actually possible
16:28.2
I thought sinabi niya
16:29.1
Na hindi possible
16:32.0
Whether it's possible
16:32.7
But remember mga kameta
16:33.8
Sinabi ng Supreme Court
16:34.8
Of the Philippines
16:37.1
At may explanation
16:38.4
Bakit applicable pa rin yan
16:41.8
Ka-interview natin
16:42.6
Si Senator Lela de Lima
16:43.7
And explained din niya
16:45.1
Pasok yung jurisdiction
16:47.1
Dito sa Pilipinas
16:48.0
Now, let's not forget
16:48.9
Justice Secretary
16:52.0
Ramudan also said
16:54.2
Under serious study
16:56.0
So, sabi ni Marco Jr.
16:59.3
Sinabi ni Ramudan
17:01.3
Talagang pinag-aaralan natin
17:04.3
Na it's under serious study
17:07.9
Solicitor General
17:10.0
Medyo iba pa rin stance
17:11.8
The DOJ Secretary
17:12.5
Of the former administration
17:14.6
Kailangan niya pa rin
17:16.7
Alam nyo na kalakaran
17:18.6
So, ito yung sinabi ni Guevara
17:24.4
Referring to a potential
17:25.5
Resolution by the
17:26.2
Philippine Congress
17:26.9
To allow ICC to come in
17:28.7
And conduct independent
17:30.5
Remember yung mga sinasabi
17:31.3
Ng mga kadidiyas natin doon
17:32.5
Kung wala ka naman
17:34.3
Wala kang ikakatakot
17:36.3
Ganun lang naman yan eh
17:37.8
Diba yun ang sinasabi nila
17:38.7
Doon sa mga suspected
17:42.4
Corrupt or whatever
17:43.2
Well, ganun din ang tanong
17:44.4
Kung wala ka naman
17:47.0
Na objective naman
17:47.9
So, sabi naman ni Guevara
17:52.4
To the position of the Republic
17:53.5
Repeatedly declared
17:54.3
By no less than the President
17:55.2
The head of state
17:55.9
That the Philippines
17:56.3
Has no legal duty
17:57.4
To cooperate with the ICC
17:58.4
On jurisdictional grounds
17:59.5
And that any such
18:00.3
Unwanted interference
18:02.8
Will encroach upon
18:03.6
The sovereignty of our country
18:06.8
Has changed his tone
18:09.1
When it comes to this issue
18:10.1
It's not only an executive issue
18:11.8
The Republic is not only
18:13.1
Represented by the President
18:14.8
When you're talking
18:15.5
About the Rome Statute
18:16.2
It's a treaty issue
18:17.7
The Supreme Court
18:21.1
It stands on this clear
18:22.4
Many in the Senate
18:26.0
Yung unilateral withdrawal
18:28.0
Without the consultation
18:29.5
And our very entry
18:31.2
Our very ratification
18:33.6
Also went through the Senate
18:34.9
So, very simplistic
18:37.3
Ito yung sinabi ni
18:39.7
Tapos nang usapan
18:42.7
Nag-iiba yung position
18:44.5
Nag-iiba yung position
18:45.4
Nang kasalako ng DOJ
18:46.8
Ang in-insist ng legislature
18:48.8
Na actually may say
18:49.8
Dapat sila dito sa issue na yan
18:51.1
Even if the President
18:52.1
Is the chief architect
18:53.2
Of our foreign policy
18:54.2
And the Supreme Court
18:56.5
Also had to say on this
18:57.3
And a lot of objective experts
18:59.8
And yung mga nag-iisip na experts
19:00.9
Will also tell you
19:01.8
That the issue of complementarity
19:03.3
Will not necessarily
19:05.8
That the principle of complementarity
19:10.2
That the President's statement
19:11.2
Is very different
19:12.2
So, just in August
19:14.3
Sinabi ni President
19:15.4
That the Philippines
19:17.9
Of rejoining the ICC
19:19.8
And a month earlier
19:21.1
Said, wala tayong
19:23.1
We don't want to deal
19:24.9
Iba yung inip na hangin
19:25.8
So, it looks like
19:26.8
Is still maintaining
19:29.0
As the DOJ Secretary
19:30.8
Now as a Solicitor General
19:32.4
But it doesn't necessarily
19:34.4
Jive with the stance
19:35.3
Of the current DOJ Secretary
19:36.5
Saying, seriously
19:37.5
Pinag-aaral na ngayon
19:38.6
And the President himself
19:39.8
Was kind of leaning
19:41.8
Maybe we'll move forward
19:50.2
Philippine Congress
19:52.9
But, what's interesting
19:54.9
Medyo yung kulang
19:55.8
Dito sa usapan na ito
20:00.1
Ng Philippine Senate
20:01.3
Because at the end of the day
20:02.3
The Senate has also
20:03.3
Supposedly a law of say
20:04.7
And the Senate is supposed
20:05.6
To be more independent-minded
20:07.3
So, let's see also
20:07.9
What some of the folks
20:08.8
Senators are gonna say
20:09.6
Of course, given na yan
20:11.0
Mga katulad ni Riza Ontiveros
20:13.2
Mga totoong opposition
20:15.0
Yung mga stance nila
20:15.6
But we wanna hear
20:16.5
Alam din na natin
20:17.7
Yung stance ni Bato
20:18.5
Si Bato ang inisip niya
20:21.0
O mga alusot siya
20:22.5
Or yung stance ni Robin Hood
20:23.7
No, I'm talking about
20:24.3
Stance ng mga more independent
20:26.3
Or centrist senators
20:29.8
Let's see what Mig Zubiri
20:31.2
Is he gonna be more on board
20:32.3
With Martin Romaldes
20:34.4
They're gonna play safe
20:36.4
You know what I'm saying
20:36.9
So, these are the things
20:37.9
That we have to keep in mind
20:39.3
As we look forward
20:40.1
Now, having said that
20:44.1
Is just one big part
20:46.2
That the President
20:46.9
Is not right now facing
20:52.5
Wala na, nakahalo-halo na
20:53.9
The other thing is
20:55.1
Of course, yung ekonomiya natin
20:57.4
Ito yung ironic, diba?
20:59.9
When President Marco Jr.
21:01.6
One of the things he said is
21:03.7
Doon sa inauguration speech pa lang niya
21:08.1
Kind of like yung parang sinabi ni Trump
21:10.0
If I become the President
21:11.8
We're gonna win so much
21:13.4
Please, please stop winning
21:17.2
Pag siya nang yung Presidente
21:20.1
A kind of a golden age
21:27.4
But the reality is that
21:29.1
To be fair to President Marco Jr.
21:30.8
He inherited a very bad economy
21:32.5
Because of the pandemic
21:33.9
But also because of the horrible
21:35.1
Mismanagement of the pandemic
21:36.8
By the previous administration
21:38.0
Lahat na mautang na kuha niya
21:39.2
But then nevertheless
21:40.5
We were expecting some
21:41.5
Positive movements
21:44.0
You know, nare-recover tayo
21:45.5
And the GDP growth naman
21:47.0
Is the fastest in the region
21:49.6
We're in total freefall
21:51.0
But if you look at
21:52.4
Some of the indicators
21:53.3
Given na yung food inflation
21:58.4
Or this kind of countries
22:02.8
And then we also saw
22:04.1
Earlier this year
22:05.6
Actually since last year
22:08.7
Itong mga reports na
22:11.2
Yung mga foreign direct investments
22:13.1
So make you wonder
22:14.2
The President is traveling
22:15.8
Meeting all of these
22:16.4
Foreign investors supposedly
22:21.3
By January parang
22:26.3
And then more recently
22:29.5
In the first half of 2020
22:33.0
Something is not working here
22:36.7
Something has to give
22:38.8
Something has to adjust
22:39.9
Something has to adjust
22:41.4
The President needs to have
22:42.8
Some economic strategy reboot
22:44.3
Or is this a matter of
22:46.4
Just waiting it out?
22:48.8
Siguro yung supporters
22:49.7
Ng administration
22:50.3
They'll say something like this
22:51.4
Don't jump the gun right away
22:55.8
We're still going through
22:56.6
A transition period
22:57.6
And one of the things
22:59.4
That people are looking at right now
23:00.8
Is the possibility
23:01.8
That for instance
23:02.4
The Philippines will attract
23:03.7
High quality investments
23:07.3
May bagong announcement
23:10.1
Nung pumunta sa America
23:11.5
Si President Marcos Jr.
23:13.4
Of the APEC Summit
23:14.3
That there will be cooperation
23:16.1
This is the sector
23:17.0
I keep on talking about
23:18.8
Semiconductor chips
23:21.0
What runs everything
23:23.5
Yung mga bagong kotse
23:25.5
These are all run by semiconductors
23:27.2
Without semiconductors
23:28.1
You can barely run anything
23:29.9
In the modern era
23:32.8
The Philippines can be part of
23:33.9
The semiconductors industry
23:35.3
And the US actually made
23:38.2
Recently sabi niya
23:39.3
Ayon sa US State Department
23:41.6
They will collaborate
23:42.2
With the government of Philippines
23:43.8
To explore pa lang
23:45.4
So let's not get too excited
23:46.8
Opportunities to grow
23:49.0
The global semiconductor ecosystem
23:51.6
Less reliance on China
23:53.0
Less production on China
23:54.3
Push it to more friendly countries
23:56.8
There's a term that they use
23:58.3
In the Biden administration
23:59.9
They use the term
24:03.2
The Technology and Innovation
24:06.5
CHIPS Act of 2022
24:08.0
So the International
24:08.7
Technology Security Innovation
24:12.2
So this special fund
24:13.9
Is supposed to push
24:14.8
For creating a more resilient
24:16.6
Secure and sustainable
24:17.6
Global semiconductor
24:21.8
Or bawasan mo yung role ng China
24:24.8
There's an effort to see
24:25.8
Whether the Philippines
24:26.8
Could be integrated
24:31.8
Production networks
24:35.8
Mukhang nasa phase pa lang tayo
24:36.8
Ng comprehensive assessment
24:38.8
Of the Philippines' existing
24:39.8
Semiconductor ecosystem
24:40.8
And regulatory framework
24:42.8
As well as yung human capital natin
24:44.8
At saka infrastructure needs
24:45.8
So pinag-aaral pa lang natin
24:47.8
Ng mga aliado natin
24:48.8
Because the US wants to help us
24:50.8
To help the Philippines
24:51.8
And wants to push for
24:56.8
Anong say natin dito?
24:58.8
Ang say natin dito is
25:01.8
But I wanna see more than just assessment
25:03.8
I wanna see some big movements
25:06.8
Hindi rin naman tayo bitter
25:07.8
I will be more than happy to see
25:09.8
If something happens
25:10.8
In a positive sense
25:11.8
Doon sa semiconductor investments
25:13.8
Because eto na nga
25:14.8
Pabaksak yung FDI
25:15.8
And then katulad ng discussion natin
25:18.8
With Sonia Angara
25:19.8
It's not just getting any FDI
25:20.8
It's getting high quality FDI
25:22.8
That brings quality jobs
25:23.8
That brings quality technology
25:25.8
That enhances our research development
25:28.8
To very much leverage
25:30.8
Yung mga new trends
25:32.8
Of industrialization
25:33.8
And technological advancement
25:35.8
In the 21st century
25:36.8
Because yung mga strategy
25:37.8
In the 20th century
25:38.8
Hindi na nagagawa na ngayon
25:39.8
Well in the 20th century
25:40.8
Palpak yung mga leaders natin
25:41.8
Tapos nang usapan
25:42.8
But now we can be more successful
25:44.8
Just like Vietnam
25:45.8
Just like many of our neighboring countries
25:47.8
Just like even India
25:48.8
Just like even India
25:49.8
Na biglang ngayon
25:50.8
Sumasakay na dito sa new wave
25:51.8
Of industrialization
25:52.8
And semiconductors
25:54.8
But let me end on this point
25:57.8
This is very important
25:58.8
Let's go to the issue of
25:59.8
Maharlika Sovereign Wealth Fund
26:00.8
Because this is really
26:01.8
The crux of the administration's
26:05.8
Economic strategy and policy
26:08.8
But one of the troubling things
26:10.8
We're seeing is that
26:12.8
There are big serious questions
26:14.8
About sustainability
26:16.8
Sustainability ng Maharlika Fund
26:18.8
Whether the Maharlika Fund
26:19.8
Is even necessary
26:20.8
Given the circumstances
26:23.8
Pabaksak yung FDI
26:24.8
And then pabaksak din yung profits
26:26.8
Ng Banko Sentral ng Pilipinas
26:28.8
Numbers were already down
26:29.8
When they were reported
26:30.8
Earlier this year
26:31.8
September pa lang
26:32.8
We were seeing reports
26:34.8
And then may latest report
26:38.8
So something is not right here
26:47.8
Aran kang mga meredeng
26:48.8
Something is not right here
26:55.8
You can kind of say that
26:56.8
Maybe we just made
26:59.8
Things looked so good
27:00.8
Nung natalo si Digong
27:01.8
Biglang nagtagsahan ng profits
27:03.8
When we took advantage
27:04.8
Of foreign exchange
27:07.8
Dahil sobrang successful tayo
27:09.8
Compared to last year
27:10.8
Bumabatay this year
27:14.8
It doesn't look good
27:17.8
You're asking the Banko Sentral ng Pilipinas along with Land Bank of the Philippines along with other government lending institutions to bankroll the Maharlika Sovereign Wealth Fund which has been almost universally questioned on different levels by independent experts and by independent economists.
27:36.6
Now, just to talk about itong latest. So, by September pa lang we saw the report na 64% down.
27:44.1
The latest report na nalabas just the other day is 71% down naman in the first 8 months of this year.
27:51.2
So, ang nangyari? Di ba? What's going on here? Di ba? We have to assess what's going on here mga kameta.
27:59.2
So, ito ah. Ay, hindi pala ito. Yung isa pala yan. Once again.
28:04.9
Nasaan na punta? Ah, ito ito. Okay.
28:08.9
So, di ba? Medyo alanganin. So, 71% naman yung latest.
28:13.5
Okay. So, let's go to the report and try to make sense out of it. What on earth is going on? Right?
28:19.9
What on earth is going on? This is crazy. This is crazy mga kamets.
28:25.9
Akala ko golden era na tayo. Di ba?
28:29.3
Pag-usapan natin yan. Mga kamekos. Ay, Marcos. Ah, meta. Okay.
28:34.9
Earnings of the Banco Central ng Pilipinas was down by 71% to only 22.9 billion pesos.
28:42.6
From January to August. Kumpara sa last year when we had an earning of 78.82 billion.
28:52.7
And one big reason is tumaas yung mga gastos ng Banco Central ng Pilipinas.
28:58.1
As expenses soared. This is a term used by the Philippine Star.
29:03.2
Ito po ang nakikita natin sa mga preliminary data. Yung total revenue po ng Banco Central ng Pilipinas
29:08.5
mostly comprised dun sa foreign investments. Ah, sorry.
29:12.6
Interest income on foreign investments. So, kung may foreign investments, may interest income on that.
29:16.6
Government securities and treasury bonds.
29:19.7
Ito ay actually umakyad by 2.1%. 217.13 billion from 114.72 billion a year ago.
29:27.8
So, interesting liya. Ayon sa data, actually tumaas yung revenue of the Central Bank
29:32.7
kung titignan mo yung incomes earned on foreign investments and security and treasury bonds.
29:37.6
During the 8-month period, yung BSB's interest earnings also rose by 23%.
29:42.6
227 billion from 103.57 billion. So, 127 up from 103. That's 23.1%.
29:52.5
But, this is where... So, actually, interestingly, tumaas yung revenues nila and yet baksak yung profits.
29:59.3
So, something is, you know, it's like what's going on here?
30:04.6
But ito mga kameta, the reason why baksak itong profits ng BSB, miscellaneous activities such as trading gains,
30:12.6
or losses, penalties and other operating income, yung mga iba-ibang fees,
30:18.4
they recorded a net loss of 10.4 billion pesos, a reversal of last year's gains amounting to 11.15.
30:26.1
So, that's a 21.11 billion net loss, right?
30:33.3
So, this year, net loss. Last year, may positive gain pa ng 11.
30:37.2
So, you go from 11.15 to negative 10.4.
30:42.6
21 billion na yan.
30:44.3
Likewise, ito mga interesting mga kameta.
30:48.4
Ito na mga paborito natin mga kameta.
30:51.1
Hindi naman confidential fund to.
30:52.7
Okay? Let's be nice.
30:54.3
Hindi ito confidential fund.
30:57.7
Pero, I'm just saying, it's worth mentioning.
31:01.0
The total expenses of Central Bank, Banko Central ng Pilipinas,
31:06.3
umakyat by 75.9%.
31:14.6
I-screenshot natin yan mga kameta ha.
31:15.6
Talagang para makita niyo.
31:17.6
Bahala kayo dyan.
31:18.6
Bahala kayo mas ka.
31:19.6
Huwag na akong atake.
31:20.6
I'm just, I'm just explaining to you what's happening.
31:23.6
O, ito, ito, ito.
31:24.6
Pakita ko na sa iyo.
31:27.6
Kung wala kayong tiwala sa akin.
31:28.6
Ibang klase talaga.
31:29.6
Ano ba nangyari dyan?
31:31.6
Malaki naman ang gastos natin.
31:38.6
Tingnan niyo naman mga kameta ha.
31:43.6
Bahala kayo dyan.
31:44.6
Ilaglagay ko yung link dyan.
31:45.6
Kayo na magmekos-mekos dyan.
31:48.6
Ulitin natin mga kameta.
31:50.6
So, tumaas yung revenue.
31:52.6
Tumaas din yung interest earnings.
31:56.6
Pero ang taas din ng expenses.
32:38.6
7% rise in gains from foreign exchange
32:40.5
fluctuation this period. So, you can see
32:42.5
there's many gains on many fronts. But for some
32:44.5
reason, the expenses part is sobrang
32:46.5
sobrang laki. So, we want to hear
32:48.4
some explanation dun sa mga kamayatan, mga
32:50.3
kaibigan natin dyan. How do you
32:52.4
explain this huge, huge, huge, huge
32:56.6
one way of looking at it is
33:00.2
Punta naman tayo dun sa
33:01.5
imekwas natin yan. Dun sa
33:04.5
interesting part. So, under Republic Act
33:06.5
11954, an act establishing
33:08.8
the Maharlika Investment
33:10.6
Fund. Mahal ko kayo.
33:12.4
Mahal ko kayo. Signed by the
33:14.5
President in July, the
33:16.8
BSP is mandated to contribute
33:20.4
of its total declared dividends
33:23.0
as computed under RA
33:24.3
7653 or the New Central
33:26.6
Bank Act in the first two years of the fund.
33:30.7
maybe there's one way to understand bakit
33:32.3
ang taas bigla ng expenses. Because
33:36.5
yung Maharlika Investment Fund.
33:40.6
Mahal ko kayo. Dito sa ilalim, New Central
33:46.1
5-3, sorry. You can check it on your own.
33:49.0
In the succeeding years after the
33:50.2
first two years of 100% dividend payout
33:52.3
to the national government, the BSP will
33:56.2
declared dividends to the IMF while the
33:58.0
remaining, sorry, MIF, not
33:59.7
IMF, International Monetary Fund,
34:01.8
Maharlika Investment Fund, and the remaining 50%
34:04.2
will go to the national coffer until
34:06.3
the increase in the BSP capitalization
34:08.0
to 100 billion from 50 billion has been fully
34:09.8
paid. So, there'll be slight adjustments
34:12.1
and rebalancing that is
34:14.0
supposed to happen. But mga, the pressure
34:16.1
is really large in the Banko Sentral ng
34:17.9
Pilipinas. So, BSP Governor Eli
34:21.9
Sabi niya, the central bank is set to
34:23.9
remit about 62 billion
34:26.0
pesos to the national government
34:27.8
in the next two years to bankroll the
34:29.7
Maharlika Investment Fund. So,
34:32.2
ang laki ng pressure, ang laki ng
34:33.8
pressure dito sa BSP natin. Kasi yung
34:38.1
i-transfer sa MIF
34:40.0
at least in the first two years or so as the
34:42.1
MIF gains its footing.
34:45.0
Sabi ni Ramolonia
34:46.9
earlier, nag-sign
34:48.4
siya ng more round of order
34:50.3
for the release of 31 billion
34:52.6
pesos worth of dividends to the government
34:54.3
to be used as MIF capital
34:56.3
and set to remit the same amount next year.
34:58.2
So, nakabigay na already ng 31
35:00.4
billion. Alright?
35:02.2
So far, the Government Financial Institution by the Land
35:04.2
Bank of the Philippines contributed 50 billion
35:06.3
while the Development Bank of the Philippines
35:08.1
shipped in 25. So, 50
35:09.8
from Land Bank of the Philippines, 25
35:11.9
from Development Bank of the Philippines,
35:14.0
and 31 billion naman galing
35:16.2
sa Banko Sentral ng Pilipinas.
35:18.0
So, that's more than 100 million,
35:20.4
more or less 101 billion
35:22.4
pesos, sorry, billion pesos
35:24.1
na mapunta dito sa Maharlika
35:26.2
Investment Fund. So, clearly,
35:28.2
base dun sa mga ibang vlogs and discussion natin,
35:30.5
people are wondering about, for instance,
35:32.1
the liquidity and sustainability
35:33.8
of the current institutional
35:36.3
practices dun sa Land Bank of the Philippines
35:38.3
and Development Bank of the Philippines,
35:40.2
which, by the way, are supposed to be there and help
35:42.1
yung mga ating mga magsasakad, agricultural
35:44.1
sector, so you're taking away money from them.
35:46.9
But now, we're also seeing
35:48.1
potentially pressures on the Banko Sentral ng Pilipinas.
35:50.5
I'm more than happy to be corrected on this point,
35:52.4
but from what I understand here, BSP
35:54.3
is under a lot of pressure, and they have to
35:56.2
transfer more than 60
35:58.1
billion pesos, which
36:00.2
is more than 1 billion dollar
36:01.9
over a 24-month period
36:04.0
dun sa Maharlika Investment Fund, and in
36:06.1
less hope na lang that things will equalize and
36:07.9
stabilize down the road. Now, what I'm more interested
36:10.1
in, and I look forward to proper analysis
36:12.1
on this by experts, on central bank
36:14.0
experts and all, is what are going to be the
36:15.9
broader implications also in terms of macroeconomic
36:18.2
stability, at sya ka yung ability
36:20.1
ng Central Bank of the Philippines to cope with
36:21.9
different kinds of pressure points and stress, etc.
36:24.4
ng ngayon nakikita natin.
36:31.2
hindi na nakatay dito sa mga
36:32.6
trolls natin dito. But anyway, so,
36:35.1
kita nyo mga kamets,
36:40.4
scrutinize this. Let's get
36:42.2
updated on this. So, I'm doing my own little part
36:44.2
of just keeping you guys medyo
36:46.2
updated dun sa mga
36:47.4
latest na mga mekos-mekos na nangyayon
36:50.1
sa ating politika. Alright? On that note,
36:52.3
thank you very much mga kamets. Please stay tuned
36:56.2
mga 11pm naman. I know medyo late
36:58.0
pero kasi yung kasama natin yun sa galing pa sa
37:00.0
San Francisco, UC Berkeley,
37:01.9
University of California, Berkeley. So, 8am
37:04.1
pa lang sa kanya yan. So, hintayin natin gumising na yung
37:06.1
isang kasama natin para magawa natin yung
37:07.8
paborito natin. Isa sa mga paborito natin,
37:15.2
Lisandro, right? And of course, we hope to have again
37:19.8
Marco Mboa, and of course,
37:21.9
let's see, nagtitravel-travel naman yung ating
37:23.9
kaibigan na si Christian
37:25.8
Esguerra. And hopefully, once he's back, we can also
37:27.8
arrange something with him. In the meantime, I hope
37:29.9
everyone is having a good time, fantastic time,
37:32.0
and I hope you appreciate itong mga
37:33.3
two-cent simple explanation natin para naman
37:36.0
makita natin ang nangyayari sa ating bansa.
37:37.7
On that note, thank you very much, God bless, and
37:39.9
talk to you soon.
