From Grant's Almost Daily comes the rest of the story...
On July 18, the Daily Telegraph reported that a South Korean diving team had recovered a sunken Russian vessel containing some $130 billion worth of gold bullion. The warship was purportedly a remnant of the Battle of Tsushima from the Sino-Russian war of 1904 to 1905.
Today comes an update to the saga, one that could be called both a twist and, in the context of 2018, par for the course:
Authorities are reportedly looking into Shinil Group, which claims to have found a Russian shipwreck from the early 1900s, for possible fraud charges. The company launched its own cryptocurrency, which investors bought with the promise of being able to redeem tokens for treasure from the ship, according to the report.
The old cliché that “a gold mine is a hole in the ground with a liar at the top” now has a worthy modern day companion.
See more at Grant's Interest Rate Observer
RSS Feed
