Treasure Trove – SS Gairsoppa
September 27, 2011 4 Comments
I found this story in today’s Indian Express. Enjoy!
In 1941, a Nazi torpedo tore a hole in a British merchant ship carrying a fortune in silver to England from India. The ship was part of a convoy headed for Liverpool, but it went down about 300 miles southwest of Ireland, disappearing in icy waters nearly three miles deep, deeper than the resting place of the Titanic.
Now, divers say they have found the wreck intact and they estimate its cargo at up to 240 tons of silver — a trove worth more than $200 million. They plan to recover it this spring. Read more of this post
In 2008 gold was treated like any other high risk asset when the collapse of Lehman Brothers sparked heavy selling across financial markets in a widely-documented “dash for cash” — after which it bounced back hard to record highs. In Q1 2009, the gold price recovered long before other assets hit bottom.History would suggest that while gold has taken a beating, it is far from down and out.Monday’s tumble to around $1,535 an ounce dragged prices 20 percent below the record $1,920 reached last Thursday. But since its rise from just over $250 in early 2001, gold has bounced back from bigger drops, having fallen 25 percent between May and June 2006, and 27 percent in October 2008.General financial market 
This is my find for the day.I found the original here 
These figures are from the ET article Inflation Gains Currency & How!Dated Sept,2011
wealthymatters 