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Platinum Shipwreck Found?
Posted: Wed Feb 01, 2012 5:23 pm
by dualstow
http://www.cbsnews.com/8301-201_162-573 ... shipwreck/
(CBS/AP) PORTLAND, Maine - A shipwreck hunter says he has found the wreck of a World War II merchant ship that was torpedoed by a German U-boat off Cape Cod with a load of platinum now valued at $3 billion — perhaps the richest hoard ever discovered at the bottom of the sea.
oh my
Re: Platinum Shipwreck Found?
Posted: Wed Feb 01, 2012 5:27 pm
by moda0306
QEIII?
Re: Platinum Shipwreck Found?
Posted: Wed Feb 01, 2012 5:32 pm
by MediumTex
If true, that's going to be very bad for the price of platinum. It's already a pretty thin market.
Re: Platinum Shipwreck Found?
Posted: Wed Feb 01, 2012 5:45 pm
by MediumTex
It says the boat was carrying 71 tons of platinum.
That's incredible.
That's 142,000 pounds of platinum.
That's 2,272,000 ounces of platinum.
That's over half of the annual platinum production from the entire world.
That's a lot of platinum.
Re: Platinum Shipwreck Found?
Posted: Wed Feb 01, 2012 5:49 pm
by moda0306
I found the 5th PP Asset!!
Treasure-hunter stock... if there's a huge finding of gold, even during an inflation, it could get hit hard...
Unless you're holding a treasure-hunter fund!
Maybe throw in the alchemy industry for good measure.
Re: Platinum Shipwreck Found?
Posted: Wed Feb 01, 2012 6:02 pm
by Gumby
It's kind of ironic to find a treasure supposedly worth billions of dollars and realize that mere presence of the treasure itself suddenly diminishes the value of that treasure.
Oh well. Still way better than no treasure at all.
Re: Platinum Shipwreck Found?
Posted: Wed Feb 01, 2012 6:15 pm
by Gumby
Good movie about this particular shipwreck....
http://youtu.be/oFf1TTcs8O0
Re: Platinum Shipwreck Found?
Posted: Wed Feb 01, 2012 6:41 pm
by dualstow
On the news they said they may start salvage attempts in March. I wonder what kind of security they'll have until then.
Re: Platinum Shipwreck Found?
Posted: Wed Feb 01, 2012 10:29 pm
by MediumTex
dualstow wrote:
On the news they said they may start salvage attempts in March. I wonder what kind of security they'll have until then.
That sounds like a "Mission Impossible" storyline.
Re: Platinum Shipwreck Found?
Posted: Thu Feb 02, 2012 11:52 am
by dualstow
MediumTex wrote:
It says the boat was carrying 71 tons of platinum.
That's incredible.
That's 142,000 pounds of platinum.
That's 2,272,000 ounces of platinum.
That's over half of the annual platinum production from the entire world.
That's a lot of platinum.
It's also equivalent to the cash raked in by the
Lord of the Rings trilogy.
Re: Platinum Shipwreck Found?
Posted: Thu Feb 02, 2012 12:07 pm
by stone
Have you heard that tale that the 1980-2000 gold bear market was partly caused by Marcos selling off Japanese war loot that was hidden in the Philippines?
Re: Platinum Shipwreck Found?
Posted: Thu Feb 02, 2012 12:15 pm
by Alanw
stone wrote:
Have you heard that tale that the 1980-2000 gold bear market was partly caused by Marcos selling off Japanese war loot that was hidden in the Philippines?
That era also caused a bear market in designer shoes when the Imelda Marcos shoe collection went on the market.
Re: Platinum Shipwreck Found?
Posted: Thu Feb 02, 2012 10:28 pm
by TripleB
dualstow wrote:
MediumTex wrote:
That's 2,272,000 ounces of platinum.
It's also equivalent to the cash raked in by the
Lord of the Rings trilogy.
No. The Lord of the Rings trilogy actually lost money.
http://en.wikipedia.org/wiki/Hollywood_accounting
Re: Platinum Shipwreck Found?
Posted: Fri Feb 03, 2012 2:22 pm
by dualstow
Interesting page, TripleB
