Gold Found On The Bottom Of The English Channel PDF Print E-mail
Written by Kathryn Smith   
Saturday, 01 May 2010 09:35
Back in 1744 the former star of the Royal Navy fleet sank in the English Channel on a stormy. A recent discovery shows that the ship took down with it more than one billion dollars worth of gold.
by KathrynSmith


Back in 1744 the former star of the Royal Navy fleet sank in the English Channel on a stormy. A recent discovery shows that the ship took down with it more than one billion dollars worth of gold.

The vessel that was said to be carrying 1.100 people and the gold treasure was found by an American salvage company in international waters in the year 2008. According to the rules regarding sovereign warships, the British Government has the right to control the excavation and also, to claim the artifacts found.

The American company has been trying to convince the British Government to collaborate on the project. The company representatives have declared that the ship was returning from Lisbon and was transporting 100.000 gold Portuguese coins when it sank. The company that found the ship is specialized in searching for valuable ships that have sank.

The vessel was the most heavily armed ship of its days and it is said that it was returning from Portugal after it had sailed there to rescue a Mediterranean convoy that was blocked by the French. The exact place of the discovery was not released to the press in order not to attract any unwanted visitors.

The relations between the British Government and the American company have been cordial. However, this has not prevented the company to file records to the Federal Court in which it claimed exclusive rights to the finding. Company representatives have motivated the claim by saying that the site where the ship was found is not located in English territorial waters. A spokesman for the Minister of Defense declared that if the ship is proved to be of English origin, then nobody has the right to take any action without the consent of the United Kingdom.

Gold has always been considered an asset that everybody should own. This is why economists advise us to diversify our portfolios by investing in gold.

DISCLAIMER: This article is provided as information only and is not to be taken as financial advice.

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