City of Benares wreck $7.2 BILLION?!!??!

[seekerGH]

Here we go again...

A TEAM of shipwreck explorers believe they’ve found the real reason behind why Nazi U-boats sunk a ship carrying children — one of World War 2’s worst maritime atrocities.
For the City of Benares may have been targeted because Germany believed there was a secret cargo of gold bullion aboard.
Some 262 passengers and crew perished on the middle of night in September 1940 when the 11,000-tonne City of Benares was torpedoed while carrying evacuees to Canada.
Now divers have been exploring the wreck in a bid to find $7.2 billion worth of bullion.
Speaking to MailOnline, Will Carrier, operations director of Britannia’s Gold which carrying out the gold hunt, said “We will not touch the City of Benares.
“We will treat all these wrecks with respect but Benares is designated as a war grave and should be treated as such.
“It’s still a very sensitive subject.”
The $25 million recovery operation is scheduled for several weeks off the west coast of Ireland.
The treasure hunt follows 25 years of research which resulted in a database of secret gold movements from Britain to the US and elsewhere in World Wars I and II.
The gold was being sent by both the Government and private institutions to pay the US for weapons and other material.
By cross-referring secret Bank of England and government records with new archive material in Britain and overseas, the researchers believe they have pinpointed a series of Atlantic wrecks containing the gold.


City of Benares wreck: ship may have been carrying billions in gold bullion

 

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[Magoopeter]

Here we go again...

A TEAM of shipwreck explorers believe they’ve found the real reason behind why Nazi U-boats sunk a ship carrying children — one of World War 2’s worst maritime atrocities.
For the City of Benares may have been targeted because Germany believed there was a secret cargo of gold bullion aboard.
Some 262 passengers and crew perished on the middle of night in September 1940 when the 11,000-tonne City of Benares was torpedoed while carrying evacuees to Canada.
Now divers have been exploring the wreck in a bid to find $7.2 billion worth of bullion.
Speaking to MailOnline, Will Carrier, operations director of Britannia’s Gold which carrying out the gold hunt, said “We will not touch the City of Benares.
“We will treat all these wrecks with respect but Benares is designated as a war grave and should be treated as such.
“It’s still a very sensitive subject.”
The $25 million recovery operation is scheduled for several weeks off the west coast of Ireland.
The treasure hunt follows 25 years of research which resulted in a database of secret gold movements from Britain to the US and elsewhere in World Wars I and II.
The gold was being sent by both the Government and private institutions to pay the US for weapons and other material.
By cross-referring secret Bank of England and government records with new archive material in Britain and overseas, the researchers believe they have pinpointed a series of Atlantic wrecks containing the gold.


City of Benares wreck: ship may have been carrying billions in gold bullion

This has all been done before, the same information; this story has been pushed around for years. The Rock water one went to the Empress of Brittan and the Pegu on information supplied by the same person and produced no bullion.

 

[Emma]

I do believe there is gold on the City on Benares indeed but I believe this Will Carrier have absolutely no proof of the bullion and this type of project is made to raise money.
Many archives about secret cargo have been destroyed or kept private.

 

[Darren in NC]

Good to see you again, Emma. Indeed there is strong circumstantial evidence for the gold. The stevedores at the docks were paid well by German spies to keep them informed of special cargo movements. Sadly, there were also many children aboard the Benares who drowned. The UK would never allow its salvage. It would be egg on their face for sending so much gold with children.

I know well the records he speaks of, and there are none surviving that mention sunken gold/silver shipments. Successful shipments, yes. Sunken shipments, no. Will Carrier has been involved an a number of companies designed to fleece investors.

 

[Emma]

Hi Darren,

I am not a specialist in salvage laws. As the Benares was lost outside UK waters, the UK governement can forbid to survey this ship belonging to the private company Ellerman Line ? Hum... Just saw she was requisitioned... That's it no ?

 

[Darren in NC]

Emma, all private merchant vessels that were sunk while contracted by the gov't during the war fell under the ownership oversight of the Ministry for Transport. Those sites are gov't property now. However, a company could possibly salvage at risk without permission, and bring the goods to the UK Receiver of Wreck. The normal protocol is to wait one year for ownership claims. Since the gov't is the owner in this case, they would determine a salvage reward, if any in this case, and pay promptly.

 

[seekerGH]

...except that the UK Govt has expressly stated no salvage without permission. Would end end the same way as the Mercedes, salvage gratis.

http://www.jnapc.org.uk/Protection_...outside_UK_Territorial_Waters__April_2014.pdf

It seems that OME recent attempts to claim a State owned sunken vessel in Court are a test to what you are talking about, to which the UK Govt has strongly fought against. The Court case is still ongoing.

 

[WaterScoop]

The Brits have strict laws protecting treasure. Even if they find the gold you and I will not hear the whole story if it involved Bank of England and US Government

 

[Darren in NC]

...except that the UK Govt has expressly stated no salvage without permission.

The document you posted only refers to military vessels. Merchant vessels are another game altogether. They still aren't issuing permits right now for merchant vessels, but for different reasons.
I know one salvager who recently salvaged a WW2 merchant vessel off Africa that belonged to the MfT. The UK cut him a check a few weeks later for the goods after he brought it to the Receiver of Wreck.

Would end end the same way as the Mercedes, salvage gratis.

Actually it's possible that the Mercedes fiasco would have a different ending had they brought the coins to UK instead of Tampa. The Receiver of Wreck would have demanded Spain prove their ownership, which they wouldn't be able to do. Instead, politics got involved (as proven by the wiki-leaks) and they lost it all.

 

[seekerGH]

They still aren't issuing permits right now for merchant vessels, but for different reasons.

Of course, yet another black eye to the business courtesy OME, that one got the whole thing shut down.

Actually it's possible that the Mercedes fiasco would have a different ending had they brought the coins to UK instead of Tampa. The Receiver of Wreck would have demanded Spain prove their ownership, which they wouldn't be able to do.

Not so sure that the UK would not have been able to determine proper ownership. Ownership is ownership, sovereign or not. The owner has categorically denied salvage, which they have a right to, so where does that leave the issue? If not the Mercedes provenance, (or even with) what would 500,000 ounces of silver 1804 coins be worth, $7.5 million, maybe $10 million, but anywhere near $500 million?
The UK ROW would have given it a proper value, which is why is was not taken there.