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  1. #1
    AM Navigator Geno Prussakov's Avatar
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    Cool Found: $500m Treasure

  2. #2
    Life is Supposed to be Fun! Rexanne's Avatar
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    Nice!
    Peace,

    Rexanne

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    Loving Everyone's Child Creates Magic


  3. #3
    Kung Fu Master Eathan's Avatar
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    Oh, I need to start carrying underwater detectors with that sort of news!
    Eathan Mertz

    Black Cat Mining - Gold Prospecting & Rockhounding Equipment

  4. #4
    CPA Network Rep Jon@Fluxads's Avatar
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    So what will become of that treasure...will it be melted down and redistributed? Go into a museum? Placed into a miniature pool for them to swim around in it?
    [B]Jon Lyons[/B]
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  5. #5
    Kung Fu Master Eathan's Avatar
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    Sold off incrementally to collectors and investors so as not to flood the market.
    Eathan Mertz

    Black Cat Mining - Gold Prospecting & Rockhounding Equipment

  6. #6

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    Melted down? Silver isn't worth that much, they are much more valuable as collectors items and historical items. They claim the find also has a huge historical significance, but they aren't releasing any information till they clean the place out. I can't blame them.

    Thar still be pirates!

  7. #7
    Resident Genius and Staunch Capitalist Leader's Avatar
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    Cha-chinggg!!!
    There is no knowledge that is not power. ~Hemingway

  8. #8
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    I am not familiar with international law but...
    I am wondering.....
    They said it was found "beyond the territorial waters or legal jurisdiction of any country"....
    In that case couldn't you keep whatever you find?
    Which country would keep you from doing that?

  9. #9
    AM Navigator Geno Prussakov's Avatar
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    Quote Originally Posted by sputnik17
    I am not familiar with international law but...
    I am wondering.....
    They said it was found "beyond the territorial waters or legal jurisdiction of any country"....
    In that case couldn't you keep whatever you find?
    Sounds like a reasonable proposition to me. I'll get my personal lawyer (my brother, who is about to graduate with his legal degree) to look into this question.

    Geno

  10. #10
    Outsourced Program Manager Nick Prussakov's Avatar
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    Frankly speaking, I'm not aware of principles that govern entitlement to a wreck. As far as I know, Odyssey have found the wreck 40 miles into the sea. This area is indeed beyond territorial waters and is called the Exclusive Economic Zone, where the coastal state has an exclusive right to natural resources. Apparently, wrecks don't qualify as such.

  11. #11

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    I believe I read in the article (or some other article) that they had already established their rights to the wreck in court with the UK (that is where it's believed to be based out of) though specific location is obviously not given.

    So they have already established their rights of claim and ownership and are haulin in the booty!

  12. #12
    Kung Fu Master Eathan's Avatar
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    The US taxes foreign income made by US citizens regardless of residence. Wouldn't they likely include other non-countries in that practice?
    Eathan Mertz

    Black Cat Mining - Gold Prospecting & Rockhounding Equipment

  13. #13
    MasterMike HardwareGeek's Avatar
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    Spain says they have claim to the wreck.

  14. #14

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    The recovery is by a corporation (exploration company). I am sure they will have to pay any relevant taxes as this is not their first recovery.

  15. #15
    Outsourced Program Manager Nick Prussakov's Avatar
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    I propose to organise an expedition into the region, as Odyssey say that there are more goodies lying around on the seabed.

  16. #16
    AM Navigator Geno Prussakov's Avatar
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    Quote Originally Posted by Nick - AM Navigator
    I propose to organise an expedition into the region, as Odyssey say that there are more goodies lying around on the seabed.
    I'll throw in $500 GBs towards the budget of the trip.

  17. #17
    Not that fat. ReallyBigGuy's Avatar
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    Quote Originally Posted by Geno Prussakov
    I'll throw in $500 GBs towards the budget of the trip.
    who big spender..

  18. #18
    Member Mitty's Avatar
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    Quote Originally Posted by Geno Prussakov
    I'll throw in $500 GBs towards the budget of the trip.
    I'll match everything my comrade throw in


  19. #19
    AM Navigator Geno Prussakov's Avatar
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    Quote Originally Posted by Mitty
    I'll match everything my comrade throw in

    Brave man you are.

    So who are we going to send ($1000 should be enough for one person to sail to the middle of the Ocean )? Nick?

  20. #20
    Life is Supposed to be Fun! Rexanne's Avatar
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    Quote Originally Posted by Geno Prussakov

    So who are we going to send ($1000 should be enough for one person to sail to the middle of the Ocean )? Nick?
    I'll go! But it's gonna cost you all way more than $1000.00
    Peace,

    Rexanne

    Rexanne.com
    Loving Everyone's Child Creates Magic


  21. #21
    AM Navigator Geno Prussakov's Avatar
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    Quote Originally Posted by Rexanne
    I'll go! But it's gonna cost you all way more than $1000.00
    It may be just enough to get one one way in the hold of the ship. That's why I'd hate it to be you, Rexanne...

    Geno

  22. #22
    OPM/Moderator Hectic GHC's Avatar
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    Odyssey is negotiating movie rights for this gig. They should wait until the gold is stolen out of a Tampa Warehouse by an International gang of thieves and then call it Oceans 14...

  23. #23
    Kung Fu Master Eathan's Avatar
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    If there's only 14, who gets stuck carrying the extra 3 tons...?
    Eathan Mertz

    Black Cat Mining - Gold Prospecting & Rockhounding Equipment

  24. #24
    Outsourced Program Manager Nick Prussakov's Avatar
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    The thriller continues.

  25. #25
    Kung Fu Master Eathan's Avatar
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    Treasure hunting is a whacky business.

    Still bizarre to me that any government should claim rights to a treasure that's sat on the bottom of the ocean for hundreds of years, especially when ownership at the time of sinking was sketchy at best. I mean if Spain had a right to a treasure stolen by England, wouldn't the countries Spain stole it from in the first place have even more of a claim...?

    By pressing the point isn't Spain essentially saying the original owner has the right?
    Eathan Mertz

    Black Cat Mining - Gold Prospecting & Rockhounding Equipment

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