Found - 6.9 Billion in gold (India)

Biggins

Interesting story from India this morning in The Times (England) about a find in the last few days.

A large security operation was under way last night around one of southern India’s holiest Hindu temples after the discovery of a treasure trove of gold, silver, diamonds and coins that has been valued at more than 500 billion rupees (£6.9 billion).

The treasure has been found in six underground granite vaults, two of which have not been opened for almost 150 years. One gold necklace found on Thursday is 20ft (6m) long, according to reports. The haul also includes a 4ft solid gold statue studded with emeralds, and pots full of gold coins.
Many of the items are thought to have been placed there by the Maharajahs of Travancore, who ruled the princely state of southern Kerala from 1750 until India won independence from Britain in 1947. “We are yet to open one more secret chamber,” Mr Jayakumar added.

The Temple: http://img193.imageshack.us/img193/1986/89586405kerala175129c.jpg

The seventh vault that has yet to be opened, is made up of ancient iron walls!

Needless to say, as soon as the find was made, there was an immediate rush to protect it with the use of armed guards and the use of the military.

Here's hoping some of that gold is somehow used, in some way, to take care of the countries many, many poor, homeless and living in shanty towns, etc.
What's the betting though that either a court case will break out, tying it up for years or it will be stashed away just as national treasures!


Source:http://www.thetimes.co.uk/tto/news/world/asia/article3082890.ece
Further article: http://www.heraldsun.com.au/news/breaking-news/armed-commandoes-guard-hindu-temple-treasure-in-south-india/story-e6frf7jx-1226087359969

4zn76tysfajdxp

Oh yeah. That's mine. Cheers.

tmc86

very interesting story! although 150 years doesn't sound too long ago to me for stashing that much gold and jewels.

lets hope they do put it to good use and only keep the very interesting pieces for use as national treasures. will be interesting to see what happens next!

Frank Black

Is this the country sized equivalent to finding some money under the cushions of the sofa?

LighterGuy

So wheres this money going to go to?
The indian goverment? and never to be seen again?

Chuck Stone

Does that come with naan bread?

Biggins

LighterGuy wrote: »

So wheres this money going to go to?
The indian goverment? and never to be seen again?

Thats the big question.

...And how many more temples out there (and not just in India) might have similar.
This could trigger a small gold rush by raiding thieves on temples and/or drive others to start looking again at historic monuments for excavation!

Gandalph

Does anyone else have the image of Indiana Jones or Tomb Raider making the find in their head?

LighterGuy

Biggins wrote: »

Thats the big question.

...And how many more temples out there (and not just in India) might have similar.
This could trigger a small gold rush by raiding thieves on temples and/or drive others to start looking again at historic monuments for excavation!

Exactly.
I wouldnt be suprised to hear the indian government issues other temples to be searched with the aid of security guard asap. They'll want their hands on it before anyone else.

Biggins

I wonder will they mind if I go dig under the Taj Mahal?
I claiming dibs on the basement!

smash

Slumdog millionaires...

Seachmall

Biggins wrote: »

I wonder will they mind if I go dig under the Taj Mahal?
I claiming dibs on the basement!

I'll give you loan of a torch in exchange for 50% of anything you find!

Biggins

Seachmall wrote: »

I'll give you loan of a torch in exchange for 50% of anything you find!

Thanks but your alright - I'll be bringing a few of my own!

Your not getting my gold! ...My precious...

pickarooney

IT's only worth 7 billion pounds if someone actually buys it, which I don't see happening any time soon.

scotty_irish

sh*t, i was wondering where i left that. just called my solicitor, gotta get my claim in. will throw a big party once it comes through (in Biggins' house). you're all invited.

CreepingDeath

I wonder it that find drops the price of gold on the markets now...

All those who rushed to invest in gold to get out of the Euro may be kicking themselves now.

jimthemental

pickarooney wrote: »

IT's only worth 7 billion pounds if someone actually buys it, which I don't see happening any time soon.

It's gold, the one form of currency accepted worldwide! They don't have to sell it.

dilallio

/ Waits for a load of Cash for Gold vultures franchises to spring up around loads of Indian temples.

Seachmall

Biggins wrote: »

Thanks but your alright - I'll be bringing a few of my own!

Your not getting my gold! ...My precious...

Well then, I guess we'll just have to race to the gold!

See you in India, Señor Biggins!!

Biggins

Seachmall wrote: »

Well then, I guess we'll just have to race to the gold!

See you in India, Señor Biggins!!

Answer phone message:
"Biggins has already left the building. Please leave a message after the tone."
See you in India late suckers! :P

Son Of A Vidic

pickarooney wrote: »

IT's only worth 7 billion pounds if someone actually buys it, which I don't see happening any time soon.

In today's world of unstable financial markets, gold is at an all time high valuation wise and it much sought after.

ando

pickarooney wrote: »

IT's only worth 7 billion pounds if someone actually buys it, which I don't see happening any time soon.

ah well then I dont want it

stimpson

CreepingDeath wrote: »

I wonder it that find drops the price of gold on the markets now...

All those who rushed to invest in gold to get out of the Euro may be kicking themselves now.

8 billion is a drop in the ocean of world gold reserves. Gold prices are slightly up this morning. I'm sure the euro will be *fine* though.

Absurdum

Isn't anyone concerned about the monster who wore a 6m necklace? That's a ****in giant so it is.

Lapin

Any Indian Temples in Ireland ?




> Goes to shed to look for shovel <

Absurdum

"On closer inspection, the ummm.... value is a little less than we originally thought" said a spokesman with very full pockets

http://www.irishtimes.com/newspaper/world/2011/0704/1224300032237.html?via=mr

Indian treasure worth €1bn recovered from vault unopened for 140 years

ejmaztec

Biggins wrote: »

Answer phone message:
"Biggins has already left the building. Please leave a message after the tone."
See you in India late suckers! :P

As I read it in the Irish Times YESTERDAY, I'm already in India with my shovel, so up yours, it's already crated up.:P


http://www.irishtimes.com/newspaper/breaking/2011/0703/breaking16.html?via=mr

TheBunk1

I can see Joe Duffy starting Monument Monday, where we all go out and search for gold and other such treasures. Coupled with Fiver Friday, we'll be sending the IMF packing by Christmas!

chakotha

Wow that's class.

I wonder how many other treasure troves are around the world waiting to be discovered.

Biggins

Absurdum wrote: »

"On closer inspection, the ummm.... value is a little less than we originally thought" said a spokesman with very full pockets

http://www.irishtimes.com/newspaper/world/2011/0704/1224300032237.html?via=mr

They actually said in the first lines of the report "A TREASURE trove, estimated to be worth more than €1 billion..."
By five accounts now that I've found, its been discovered to be worth a lot more - and they still haven't opened up the seventh pure iron vault!

* http://www.timeslive.co.za/thetimes/2011/07/03/raja-s-treasures-unearthed
* http://www.reuters.com/article/2011/07/04/us-india-temple-treasure-idUSTRE7631PN20110704
* http://www.commodityonline.com/news/Gold-treasure-at-India-temple-could-be-the-largest-in-the-world-40475-3-1.html

Some estimates put it as high as 10 to 20 billion.
India is currently being conservative at around 7 Billion.

TheZohanS

pickarooney wrote: »

IT's only worth 7 billion pounds if someone actually buys it, which I don't see happening any time soon.

Lol

Biggins

ejmaztec wrote: »

As I read it in the Irish Times YESTERDAY, I'm already in India with my shovel, so up yours, it's already crated up.:P

http://www.irishtimes.com/newspaper/breaking/2011/0703/breaking16.html?via=mr

Bla...

Where you do think I'm posting from during my digging break!

is this the same India with aircraft carriers, a nuclear weapons program, a space program and now billions worth of gold that we are giving aid to?

WTF

Biggins

Deleted User wrote: »

Is this the same India with aircraft carriers, a nuclear weapons program, a space program and now billions worth of gold that we are giving aid to?

Thats the one!

Realistically, its unlikely that the average person in India will benefit directly from this find.
The poor will still be poor, medical aid will still be needed and homeless will be still unsheltered.

Seachmall

Biggins wrote: »

and they still haven't opened up the seventh pure iron vault!

That's because I'm in there with a chair against the vault door as I fill my pockets.

If you have access to a helicopter I'll give you E14.52 and an old lolipop to fly it here.

The poor will still be poor, medical aid will still be needed and homeless will be still unsheltered.

Because of the bloody caste system, they should spend those billions on opening their minds and educating themselves to how needlessly impoverished the country is.

Biggins

Biggins wrote: »

Realistically, its unlikely that the average person in India will benefit directly from this find.
The poor will still be poor, medical aid will still be needed and homeless will be still unsheltered.

sounds like a political problem not a financial one time we copped on

http://www.reuters.com/article/2011/07/04/us-india-temple-treasure-idUSTRE7631PN20110704

officials said treasure worth more than $20 billion had been found -- more than India's education budget.

I wonder how much they spend on nuclear weapons and on the space program? seems like they have their priorities straight huh and we are picking up the tab for it

Pyr0

Biggins wrote: »

Here's hoping some of that gold is somehow used, in some way, to take care of the countries many, many poor, homeless and living in shanty towns, etc.

I dunno, something is telling me this is definitely not gonna happen..

Sure they're in need of a few more tanks and nukes!

Biggins

Deleted User wrote: »

sounds like a political problem not a financial one time we copped on

More like partly a social mentality one I think.

minidazzler

Ali Baba was stolen from.

sensibleken

cool story brahman!

iamstop

They should use it to help back their currency.

ejmaztec

minidazzler wrote: »

Ali Baba was stolen from.

Nick Cave.

Biggins

iamstop wrote: »

They should use it to help back their currency.

I wonder if we discovered that amount of gold here in Ireland - what would our lot do?

Forest Master

steve06 wrote: »

Slumdog millionaires...

"Thanks" fail...

later12

pickarooney wrote: »

IT's only worth 7 billion pounds if someone actually buys it, which I don't see happening any time soon.

Where you been living, Missus?

http://bullionbargains.us/wp-content/uploads/2011/04/historical-price-of-gold-chart1.png

Muckie

Here's hoping some of that gold is somehow used, in some way, to take care of the countries many, many poor, homeless and living in shanty towns, etc.

Nice thought, but i can't see the Indian Goverment sharing the wealth with their poor.

later12

This is roughly 0.35% of Indian GDP.

Adamisconfused

It will all go into a vault with the rest of their gold. Thirty three million euro per tonne. They have 614 tonnes already, so if the initial report is true, it looks like they've gotten over 30% of an increase to their reserves by doing sweet bugger all. Nice.
I've never been a particularly big gold bug, but it goes to show what real money is. I wonder if anyone will be excited when they did up a few old bank vaults full of Euro two hundred and fifty years from now. (Not Irish bank vaults. They'll not understand the concept of I.O.U.)

Also, the Brits will be so pissed they were hiding that.

Gandalph

Dibs on the magic lamp....if they find one, which of course they will

Triangla

Que the stampede to start excavating every temple in Asia!

ScumLord

I hate gold it turns people into fools, all it is is shiny rock it's practically useless beyond being shiny, what the hell is wrong with people? I just don't get the fascination with gold.