Update on Colombia and the San José

Crow · Oct 11, 2024

Physics guy said:
A depression in the price of escudos or reales in the numismatic markets might be a clue to a disposition of some of the San Jose treasure.

There is another treasure out there waiting be sold 500 thousand gold escudos and 1.5 million reales. Can you see the problem. So THE claims of SAN JOSE having billions by the media is all BS. To sell to coin collector for huge sums? It is by rarity and quality.

In a over saturated market the price of coins will become bullion value only. It would take years to recoup costs. You have cost of storage. marketing grading. that would go only for years and years. There still flogging Atocha coins.

Here comes conundrum do you spend the rest of your life try to flog coins to a limited market. Or just melt for bullion value to keep the coins rare and increase the value.

Most average coin collectors are not willing to pay big sums for a coin depreciating in value? 99 plus of the population, who struggle to pay rent, put food on the table and pay the bills are not going to spend one cent in buying coin. That is stark reality. So the customer base is only a very small percentage of people.

Crow

Crow · Oct 11, 2024

In the UK they with excellent potable antiquities schemes thousand of Celtic and Roman coins have been found. By in large the biggest buyer of coins in the UK has been museums funded by the lotteries.

But there too there become a point time as more coins around the market become saturated with coins and the value falls. Coins that are worth far higher than bullion value is because they are rare and in good condition. But if that rare coin has thousand of buddies it no longer rare.

Crow

Crow · Oct 11, 2024

My guess That other gold will sit in a bank vault and be used as Collateral is security for a loan. It doesn't really matter what you call the loan, what matters is how it is structured. on bullion value. just like greedy governments do?

The doubloon (from Spanish doblón, or "double", i.e. double escudo) was a two-escudo gold coin worth approximately $4 (four Spanish dollars) or 32 reales, and weighing 6.766 grams (0.218 troy ounce) of 22-karat gold (or 0.917 fine; hence 6.2 g fine gold).

Say for example 6.766 grams per ounce x 500000, that 3383000 grams x say rounded off as you never get spot price 80.00 per gram = 270640000.

The bank will loan say 250 million Loan Asset Value means, with respect to any Loan Asset, the face amount of such Loan Asset at the time of its origination by a Consolidated Party, minus the sum of (a) the aggregate amount of all payments on account of principal on such Loan Asset (whether by virtue of an amortization payment, a prepayment, a release.

Bullion value over the last 15 years alone has gone about 196% return so your gold is now worth nearly double. You still have250 million re invest stocks shares and real estate average 12% makes you 450 million take away bank 5.5 % plus interest on interest as banks are cunning.

So if you complete the loan over 15 years you still have the gold that nearly doubled in value and you have reinvested money borrowed from the making a 12% bank that is charging 5.5 % they get their cut and you get yours.

Plus you get to claim bank interest and fees and charges of your taxable income from that 250 million investment. back on taxes . Corporation use this all the time minimize their tax obligations. That is of course depending if you operate out of a tax haven there is no tax at all? Governments do not tax their own investments

Governments are controlled by donations to politicians to get in power This is why large multinational get out of paying billions in tax. And how wealthy keep their money. And use collateral to make money.

There is an old saying Poor people pay tax rich people don't. tax is destined for the poor not for the rich.

Everyone pays GST or VAT in most countries in one form or another? Its a poor persons tax..

Crow

Crow · Oct 11, 2024

Here is another example see this super yacht below.

Every wondered why is there so many super yachts? I was fortunate to have met a few billionaires. I asked one How can you afford a 300 million super you yacht? He laughed at me and said we don't they are an company investment and as the the vessel depreciates in value we claim the loss on our investment as well as fuel crew insurance extra. Because all of these vessel are for charter even if no one can afford to stay on one. it become a tax right off.

ironic in his office is portrait of Scrooge McDuck wallowing in money.

When the value of super yacht falls below a certain level depreciation they sell it and claim the loss off their taxable income on their assets. Build another one.

It is the same with private Jets. Artwork donated on permanent loan to gallery used to park money. Rich billionaires bit coin.

So you see the ultra rich and the powers that be can make money off that treasure on San Jose and even Mercedes with out ever selling it .

That is why archeologists keep brainwashing the gullible general public that shipwreck gold treasure should not be for profit? But in reality that is exactly what is going on.

That is why Spain and Columbia are fighting over it. Not to see the gold sold but to see who can use it as collateral.

Crow

Darren in NC · Oct 11, 2024

If the average American understood how to start businesses (even at a loss) instead of paying taxes, they would build their wealth, too. That's the way the tax code is set up, no matter the rhetoric of the politicians who say they're going to tax the rich even more. The wealthy laugh, because they know how the tax code works.

Odyssey was a publicly traded company, so I suspect they would have needed to go the route of the UK just to avoid unsavory appearances.

Crow · Oct 12, 2024

Darren in NC said:
If the average American understood how to start businesses (even at a loss) instead of paying taxes, they would build their wealth, too. That's the way the tax code is set up, no matter the rhetoric of the politicians who say they're going to tax the rich even more. The wealthy laugh, because they know how the tax code works.

Odyssey was a publicly traded company, so I suspect they would have needed to go the route of the UK just to avoid unsavory appearances.

They rolled the dice in trying to be legit and politically correct and paid the price in doing so. As will any private companies involved in the San Jose.

Crow