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Russian Shipwreck Allegedly Carrying $130 Billion In Gold Has Been Rediscovered (popularmechanics.com)
An anonymous reader quotes a report from Popular Mechanics: A salvage company has located the remains of a Russian warship lost during the the Russo-Japanese War. The battle-damaged cruiser Dmitrii Donskoi was scuttled off the coast of Korea in 1905, reportedly carrying a cargo of gold worth an estimated $130 billion in today's dollars. An international consortium of companies plans to salvage the gold.
According to the Telegraph, the Donskoi was found less than a mile off the coast of Ulleung island, at a depth of 1,423 feet in the Sea of Japan. A submersible descended to the wreck and captured an image of the ship's name on the stern in the Cyrillic alphabet. The South Korean Shinil Group, which discovered the wreck, plans to recover the gold sometime later this year with help from companies in China, Canada, and the U.K. At the time of her sinking Donskoi was reportedly carrying 5,500 boxes of gold bars and 200 tons of gold coins with a street value today of $130 billion. That's more than twice Russia's 2017 defense budget, which was $61 billion. If the treasure does materialize, the Russian government will receive half of the recovered amount. The money that's not going to Russia will reportedly be invested in a railroad line linking North Korea, South Korea, and Russia. A small percentage (10%) will also be invested in tourism projects on Ulleungdo Island, including a museum dedicated to the vessel.
According to the Telegraph, the Donskoi was found less than a mile off the coast of Ulleung island, at a depth of 1,423 feet in the Sea of Japan. A submersible descended to the wreck and captured an image of the ship's name on the stern in the Cyrillic alphabet. The South Korean Shinil Group, which discovered the wreck, plans to recover the gold sometime later this year with help from companies in China, Canada, and the U.K. At the time of her sinking Donskoi was reportedly carrying 5,500 boxes of gold bars and 200 tons of gold coins with a street value today of $130 billion. That's more than twice Russia's 2017 defense budget, which was $61 billion. If the treasure does materialize, the Russian government will receive half of the recovered amount. The money that's not going to Russia will reportedly be invested in a railroad line linking North Korea, South Korea, and Russia. A small percentage (10%) will also be invested in tourism projects on Ulleungdo Island, including a museum dedicated to the vessel.
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I bet $13 billion buys you one hell of a museum.
$13B will build one hell of a museum.
Total BS. Why would a single warship be carrying that much gold? That is ridiculous. More fake news, but the media laps it up happily without thinking or questioning.
Wonder how many dudes on that ship grabbed a crate or a few bars or whatever before abandoning ship. There will still be a fuckton of gold, but I bet not all of it.
good job to whoever spent a shitload of money looking for this and eventually succeeded
But did you find the gold?
Why send a ship into battle carrying so much gold?
The real "Libtards" are the Libertarians!
If the gold does exist and is recovered, what will so much gold coming onto the market do to the price of gold?
The real "Libtards" are the Libertarians!
The value of 200 tons of gold is about $13 billion not $130 billion, still a metric shitload of money.
If the ship was actually carrying that much gold, it would have been discovered years ago. I'm pretty sure Russia would like to have it back and would have started searching in 1905. And from TFA: 'Although the Shinil Group claims it saw what it thinks was a “treasure box” among the wreckage, there appears to be no confirmation the Donskoi really was carrying the reported treasure'
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"The agriculture ministry is not in charge of Gundam" - Japanese ministry official.
The CEO of Amazon is worth several times the defense budget of Russia, a global military super power.
Thatâ(TM)s more than twice Russiaâ(TM)s 2017 defense budget, which was $61 billion. If the treasure does materialize, the Russian government will GRAB ALL of the recovered amount.
totally on it :)
[($)]
Should have been enough to buy a couple of countries on their way from SpB to Japan...
I called it first. Its mine.
And Of Course Hand IT OVER To The Rightful Owner, Putin!
#MAGABYSUCKINGPUTINDICK!
How much does the 'salvage company' get if Russia receives 50%, tourism 10% and "money that's not going to Russia will reportedly be invested in a railroad line"?
Slashdot, fix the reply notifications... You won't get away with it...
your lreplieEs rather
Donald Trump raided the Federal reserve and dumped the gold off the coast of South Korea when he met with Kim. This is the payment to Putin for the election. Don't be fooled by this fake news.
No. It was a warship. Warships are designed and built to be warships. Warships sometimes carry cargo, gold was sometimes used in the payment of debts between nations. Warships were used for the security of the shipment. Gold would also be regularly carried to buy goods or services in foreign ports. It might also be used for fleet payroll in foreign ports.
Back in this era there was a devastating earthquake in Italy. The US sent gold to Italy for disaster relief and other humanitarian efforts. Guess how it was shipped, using a warship.
Cargo ships are designed and built to carry cargo. In times of war they may mount a gun on them for self defense but that does not make them warships. Just as cargo does not make a warship a cargo ship.
Better hope the Dentist doesn't sic his due diligence team on them
What does maritime law say about ownership? The ship was lost in a war with Japan (scuttled after a fight with Japanese ships) in Korean waters. Korea was at the time an independent country and the wreck is today off a South Korean island.
Is it clear that Russia retains ownership?
This. The only parallel I can think of from my personal experience is playing Eve online (I know, a keyboard warrior playing an internet spaceship game is not really comparable to actually risking lives in wartime etc) . Heading out on patrol where you may well be in combat with unneccesary valuables in cargo in any kind of vessel (warship OR cargo/supply ship) is quite frankly an insane practice. There's some cliche about never risking anything in battle that you can't afford to lose.
I'm unclear as to why anyone in the Russian admiralty would have loaded tons of gold onto a second-rate warship sailing straight into a battle? And where was it supposed to be carrying the gold *to*?
Why on earth would a cruiser knowing it's going to go into a battle be carrying a metric shit ton of gold?
The island is reportedly getting a 'small percentage' worth $13 billion. Any thoughts on how I may get residency there?
$13 billion is a lot of money!
Math is hard, 0.1% of 1200$ is 1$, not 10$.
NATO should blow up those salvage ships to keep the gold at the bottom of the ocean.
No reason to make a multi-billion dollar present to Putin and his murdering army of thugs in Syria and Ukraine.
If that much gold were released into the market, surely the price/weight would decrease, right?
if true!
brainwashed!!
Let's see "Russian" gold discovered.... railway connecting an advanced economy through 2 sanctioned countries.....
Smells like money laundering, looks like money laundering...
*Actually, we can't, as it was sold to the Chinese.
Have gnu, will travel.
Given that the Soviets expropriated foreign owned property, rejected the claims of bond holders against the Imperial Russian government, and can be argued to owe the victims of their invasions in Eastern Europe billions, one can hope that it will be tied up in court indefinitely. Sadly I suspect this won't happen.
Is this the ship full of gold from the movie Black Sea, or the one from the book Cryptonomicon?
It could if only [takes off shoes & socks] 2100 tons of the ship was iron & steel.
This would also explain why it sank.
Confucius say, "Find worm in apple - bad. Find half a worm - worse."