In 1945, US intelligence officers in Manila discovered that the Japanese had hidden large quantities of Gold bullion and other looted treasure in the Philippines.
This ‘Black Gold’ gave Washington virtually limitless, unaccountable funds, p.
These, combined with Japanese treasure recovered during the US occupation, and with recovered Nazi loot, would create a worldwide American political action fund to fight communism.
President Truman decided to recover the Gold but to keep its riches secret.
In 1945, US intelligence officers in Manila discovered that the Japanese had hidden large quantities of Gold bullion and other looted treasure in the Philippines