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The Forbidden Fruit: Maharlika Wealth Fund

Forbidden Fruit

It’s like a household breadwinner whose meager income is meant just to buy food to feed his family for survival, yet out of “need” (or greed) and mindlessness, due to a tempting offer, he would gamble/invest in haste his hard earned money (some of which were borrowed) in a high risk investment scheme. This is what the Maharlika Wealth Fund is, plain and simple. Crazy.

Such an idea may be good for business or entrepreneurs who have surplus funds that they can afford to lose, but not for a government like ours that is cash strapped, with an ever dwindling coffer that has not even enough in it to create food for the poor’s table. Yet, alas, the Philippine government has even billions of pesos in funds to allocate in the budget that would just end up in crook wallets and waste baskets. Now comes the poison that “tantalizes” like a nectar in classical mythology. There is no sugar coating that can be good enough to cover its bitter look.

If we cannot manage right and well the funds that we have now, I mean the national budget, what would it look like when we have this Maharlika Wealth Fund? Who’s necromancer are our congressmen waiting to tell them of the ominous future for Filipinos should they insist on their “brainchild”?

Authors and proponents of the bill to establish this so-called wealth fund cited the many countries where it worked, overlooking the fact that we are Filipinos. Well, those countries have surplus funds and we have not. Besides, they are not as corrupt and poor (by far) as we are. The Maharlika Wealth Fund and the other “not-so-bright ideas” in the past are reflections of the kind of leaders we have (one administration after another). They show us how the people’s money has been and being handled or mismanaged from the time “Filipino politics” was first invented.

Wealth Fund

Why indeed the need to always look at other nations and try to imitate what worked for them when each nationality has its own peculiarity in traits, ethos, strengths, weakness and condition? Why not rather think of something original for the Philippines and stop dreaming of becoming the people that we are not? What about starting to explore our unique greatness as a people, given the massive natural resources we have at our disposal? Alas again, we cannot even stand up to China’s bullying in the West Philippine Sea as we seem to capitulate (boneless and witless) to the whims and caprices of the subtle invader.

Watch out! Congress is bent on passing the bill in haste when it should be scrapped right away. “One cool judgment is worth a thousand hasty counsels. The thing to do is to supply light and not heat.” – Woodrow Wilson.

The Maharlika Wealth Fund, like the forbidden fruit, is full of nice promises. But, beware.

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