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$3B in Platinum - Sunken Treasure?

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$3B in Platinum - Sunken Treasure?

Postby OneBiteAtATime » Wed Feb 01, 2012 7:09 pm

http://news.yahoo.com/treasure-hunter-s ... 34672.html

Mmmmm. bullion.
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Re: $3B in Platinum - Sunken Treasure?

Postby Copper Catcher » Wed Feb 01, 2012 7:42 pm

What sucks is they will let this company do all the work and recover all the bullion then take it away from them. All this will end up on a twenty year court battle with the lawyers getting most of the money and the governments involved waiting for the people to die or run out of money fighting it.
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Re: $3B in Platinum - Sunken Treasure?

Postby creshka46 » Wed Feb 01, 2012 8:09 pm

Assuming it were to be recovered and it's as much as he thinks it is, I bet it would have a noticable effect on the price of platinum. 71 tons is over 2 million ounces. Total platinum supply in 2011 was only 6.4 million toz.
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Re: $3B in Platinum - Sunken Treasure?

Postby cesariojpn » Thu Feb 02, 2012 1:55 am

The article has a glaring error. The HMS Edinburgh gold was split between the salvagers, the UK Government, and the Russian Government. The USA never got squat in the whole thing.
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Re: $3B in Platinum - Sunken Treasure?

Postby Mossy » Thu Feb 02, 2012 1:08 pm

Copper Catcher wrote:What sucks is they will let this company do all the work and recover all the bullion then take it away from them. All this will end up on a twenty year court battle with the lawyers getting most of the money and the governments involved waiting for the people to die or run out of money fighting it.

Spanish rules: "Found treasure belongs to the crown." Florida has that law as well, from when Spain colonized Florida.

So, who is going to be dumb enough to report any treasure small enough to hide or launder under the radar?

Laffer curve with a vengence, eh?
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