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Speaker 1: Now here's a highlight from Coast to Coast AM on iHeartRadio.

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Speaker 1: It is Coast to Coast AM. Hello there, Connie Willis

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Speaker 1: with you. Wow. Valentine's Day, it's coming up. I didn't

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Speaker 1: even realize it, honestly, I just was like, what what

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Speaker 1: Valentine's And I know that because it's on what is it? Tuesday?

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Speaker 1: I think it is that everybody's kind of celebrating it

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Speaker 1: this weekend, right, and then also with the super Bowl,

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Speaker 1: amazing weekend, lots going on and beautiful weather at least

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Speaker 1: where I am, and hey, you can't beat that, right,

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Speaker 1: So we've got another great guest coming up. Beforehand, though,

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Speaker 1: I want to remind you people are asking me about

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Speaker 1: the Robert treat deathbed confession. What's going on? Surgery coming

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Speaker 1: up and on the twentieth. You can find out more

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Speaker 1: by going to my podcast, my podcast Excuse Me, which

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Speaker 1: is Connie Willis the podcast. Go to Connie Willis the podcast,

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Speaker 1: And if you haven't heard all of the episodes all

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Speaker 1: the drops will get in there now and catch up

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Speaker 1: on it. Connie Willis the Podcast. And then Monday you're

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Speaker 1: going to hear another set of them, and then you're

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Speaker 1: going to hear from Philip Consella joining the show and

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Speaker 1: asking some questions to Roberts, and he is part of

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Speaker 1: the Consella Twins in the UK. And we've had both

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Speaker 1: of these people here as guests on Coast to Coast AM.

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Speaker 1: If you need more information, go to Connie Willis dot com.

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Speaker 1: Joined my other shows as well. We have a great

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Speaker 1: time and from time to hot time we have people

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Speaker 1: like our next guests that join us. In fact, he's

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Speaker 1: going to be on Blue Rock Talk my show in

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Speaker 1: the next Thursday, not this coming Thursday, but the next Thursday,

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Speaker 1: so you can see him live. Sometimes he wears the

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Speaker 1: patch sometimes. I like when he wears the patch. I

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Speaker 1: think it's cool looking. And then he will be showing

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Speaker 1: us a bunch of the pictures and stuff that that

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Speaker 1: you don't get to see here on radio. But you

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Speaker 1: get to hear and you will learn the character very quickly.

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Speaker 1: With just a few words. You will already feel as

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Speaker 1: if you know that Captain Martin Bareley as your uncle.

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Speaker 1: You know what? You know what? I think that's true, Marty.

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Speaker 1: I think you are kind of more like everybody's uncle.

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Speaker 1: What do you think of that he's the pirate? I

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Speaker 1: gotta tell everybody. So we had you on a long

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Speaker 1: time ago. You've been on my show several times. You

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Speaker 1: and I have become friends along the way. And where

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Speaker 1: I had first seen you was, I guess it was

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Speaker 1: History Channels Billion Dollar Wreck, and I loved the series.

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Speaker 1: I think you picked up for me much earlier than that.

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Speaker 1: You were before Billion Dollars Wreck. I believe no, that's

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Speaker 1: where I saw you because that was you, Oh, series

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Speaker 1: talking to me? Now, hold on, what a series talking

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Speaker 1: to She's like, no, it was when she watched the

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Speaker 1: Billion Dollars Wreck. No, no, no, I saw that and

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Speaker 1: I just I couldn't believe it. I thought it was

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Speaker 1: this incredible documentary. I thought they did a great job.

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Speaker 1: And that's where I saw you and your son, and

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Speaker 1: I think Grant Grant is amazing. I've only seen pictures

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Speaker 1: of your daughter. She's beautiful. Um, but you've got a

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Speaker 1: whole family thing going on, and dude, man, come on,

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Speaker 1: let's let's let's get the money. So tell people, you know,

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Speaker 1: it's interesting your your first book. I know you got

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Speaker 1: another one coming out, but your your book is absolutely amazing. Uh.

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Speaker 1: When when I heard Okay, here's this, here's this, Uh,

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Speaker 1: I'm gonna let you tell the entire story. But when

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Speaker 1: I had seen, oh my gosh, look at this wreck,

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Speaker 1: look at the money down there. Why hasn't he pulled

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Speaker 1: it up yet? You know that, I went to investors

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Speaker 1: and I started working with you on that because it's

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Speaker 1: it's like, why has this not been brought up yet?

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Speaker 1: So tell And your book is amazing when somebody, when

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Speaker 1: I first tell people about it, they say, oh, yeah, right, whatever,

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Speaker 1: And then when they get your book, they are absolutely there, there,

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Speaker 1: there they are. Then that's when they want to talk

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Speaker 1: to you. Yeah. The book The Tzar's Treasure, it's available

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Speaker 1: on Amazon, goes into detail on exactly why the ship

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Speaker 1: carries the cargo that she was always rumored to have carried.

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Speaker 1: The book details a three million dollar cargo in nineteen

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Speaker 1: or nine coins that would have a value today about

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Speaker 1: a billion dollars. So that was the premise for the

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Speaker 1: History Channel show billion dollars wreck. We've since come into

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Speaker 1: information and this is this is more exciting at the

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Speaker 1: three million dollars on the wreck that we've identified initially,

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Speaker 1: and that's in my book. The Tsar's Treasure was only

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Speaker 1: a part of a twenty five million dollars shipment. So

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Speaker 1: if a three million dollars is a billion dollars today,

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Speaker 1: twenty five million is about seven or eight billion dollars.

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Speaker 1: So I wouldn't say History Channel sign eificantly under valued

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Speaker 1: our story and the price on the wreck. So we're

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Speaker 1: at least the five billion dollars very conservatively. I don't know.

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Speaker 1: You do so much research and you find out so much.

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Speaker 1: I mean, in the next coming months, it could be

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Speaker 1: the trillion dollar wreck, and I would like that that

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Speaker 1: would be okay. Now I don't think. I don't think

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Speaker 1: it will be the trillion dollar wreck. We every time

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Speaker 1: I looked at the wreck, we found two cargoes. Basically,

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Speaker 1: one was an eight hundred thousand dollars US Navy cargo

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Speaker 1: that was going to the Great White Fleet then at Gibraltar.

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Speaker 1: Then the three million dollar cargo, which was a short

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Speaker 1: term loan made by the Russian State Bank going to

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Speaker 1: Russian warships at Gibraltar also, and then of course what

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Speaker 1: we did is we identified the additional twenty two million

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Speaker 1: dollars which makes the twenty five million dollars shipment. Overall,

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Speaker 1: there's a lot of history involved in this, and you

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Speaker 1: have to really understand the facts that are related to

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Speaker 1: the cargo. Very most of these salvage companies, you know.

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Speaker 1: The easy thing is that we as a manifest is

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Speaker 1: the cargo on the manifest, We're going to go out

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Speaker 1: and recover it. That's the extent of it. But when

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Speaker 1: you look at all the history of salvage, you look

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Speaker 1: at such rex as the Lorentic, the Niagara, the Edinburgh,

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Speaker 1: all of those were government shipments and the shipments were

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Speaker 1: not disclosed until after the cargoes had been recovered. And

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Speaker 1: that's exactly what we have here. We have two government

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Speaker 1: shipments or one quasi government. The US government Navy payroll

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Speaker 1: was a definitely a government shipment, and that was eight

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Speaker 1: hundred thousand and nineteen or nine. That's conservatively about two

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Speaker 1: hundred million dollars today. So if we focus just on

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Speaker 1: that cargo alone, there's plenty of room for profit for

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Speaker 1: both our investors and for US recovering that cargo alone.

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Speaker 1: But the three million dollars was always the rumored cargo

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Speaker 1: aboard the wreck. If you look at our website, RMS

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Speaker 1: hype and republic dot com and their links, their links

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Speaker 1: on your site coast to coast that references our sites.

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Speaker 1: But if you look at the rumors that originally originated,

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Speaker 1: the three million dollars has been the solid number. And

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Speaker 1: when I researched that, I originally thought the money that

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Speaker 1: was on the Oceanic, which was a white star line

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Speaker 1: that left New York January thirteenth, nineteen o nine. It

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Speaker 1: had three and a half million dollars on board, and

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Speaker 1: I said, well, that has to be another white star liner,

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Speaker 1: Republic white star liner, they both coming from the same pier.

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Speaker 1: They said it went on the Oceanic, but I think

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Speaker 1: it went on a Republic instead, and the three million

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Speaker 1: dollars complied to the rumor. So we did literally years

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Speaker 1: of research on that, and we did import export analysis,

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Speaker 1: so all of this information is in my book. We

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Speaker 1: identified the three million dollars on the Oceanic, and unfortunately,

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Speaker 1: and I said this years ago, I said, we identify

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Speaker 1: that the Oceanic's cargo arrived. There's no money on the Republic.

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Speaker 1: So we identified it that arrived. We found it in

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Speaker 1: the Bank of France records. We actually in the Bank

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Speaker 1: of France records, and the Oceanic's cargo arrived. And I

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Speaker 1: was actually very very disappointed because I put myself up

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Speaker 1: to a challenge did that money arrive? And it arrived.

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Speaker 1: So we then went back to the market, basically reading

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Speaker 1: all of the newspapers, the financial newspapers in New York

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Speaker 1: at the time, trying to identify what's going on, and

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Speaker 1: we found another three million dollar transaction. It was a

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Speaker 1: thirty day short term loan. There was no lender identified,

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Speaker 1: there was no borrower identified, but several newspapers reported it,

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Speaker 1: and it was at a very low interest rate. It

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Speaker 1: was at one and a half percent interest rate. Excuse me,

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Speaker 1: you know it was a one and a half percent

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Speaker 1: insist rate for thirty days. Of course that's an annualized rate.

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Speaker 1: So there we have a three million dollar transaction. The

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Speaker 1: basic concept was, well, what's happening in the market. You know,

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Speaker 1: we have this rumor of three million dollars on Republic

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Speaker 1: while there's this cargo on the Oceanic that probably fits

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Speaker 1: White star liner, but no that arrived. Now we have

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Speaker 1: this other short term loan thirty days, and what else

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Speaker 1: has happening in the market. Well, Russia at the time

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Speaker 1: was selling it's nineteen o nine four and a half

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Speaker 1: percent bonds in major markets around the world. They were

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Speaker 1: selling them in Paris and London and Amsterdam, in Berlin,

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Speaker 1: and of course naturally we anticipated that they would be

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Speaker 1: selling them in New York as well. So I said,

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Speaker 1: all right, let's let's investigate the Russian loan a little bit,

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Speaker 1: see how that worked. So we went into the Paris

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Speaker 1: archives of Credit Lionaise and Society General they were two banks,

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Speaker 1: and the French syndicate that floated the czar'st bond, and

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Speaker 1: we found the actual syndicate document how Russia was paid

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Speaker 1: out of the two hundred and forty million dollars that

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Speaker 1: they raised in nineteen o nine, and then we also

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Speaker 1: identify what that money was for basically, and we get

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Speaker 1: into the history. Now. In nineteen oh four, Japan attacked

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Speaker 1: Port Arthur, the Russian naval base at Port Author, because

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Speaker 1: Japan wanted to extend its influence into Korea and into China,

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Speaker 1: and of course it was a conflict between Russia because

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Speaker 1: Russia wanted to have a warm water naval base and

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Speaker 1: Port Author provided that. So I think it was February eighth,

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Speaker 1: nineteen oh four. I think, if I remember correctly, that

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Speaker 1: Japan launched a sneak attack on Port Author bottled in

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Speaker 1: the Russian Russian fleet. So Russia sent its Baltic fleet

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Speaker 1: all the way around the world to the Straits of

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Speaker 1: Shushima and the Russian battleship fleet was destroyed. Japan essentially

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Speaker 1: won that war. But when you fight a war, countries

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Speaker 1: need money. So in nineteen oh four, after Japan attacked Russia,

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Speaker 1: Russia had to raise money to fight Japan, and they

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Speaker 1: raised one hundred and fifty million dollars on the French mark.

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Speaker 1: It was only a five year loan. No one expected

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Speaker 1: Russia to lose. They had an easy time raising money

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Speaker 1: in Paris. Paris were the bazaar's bankers, and they raised

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Speaker 1: one hundred and fifty million dollars five year loan. And

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Speaker 1: of course, in nineteen o four to five year loan,

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Speaker 1: when is it repayable in nineteen o nine, So nineteen

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Speaker 1: o nine rolls around and they have this major obligation.

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Speaker 1: The one hundred and fifty million dollars loan is coming due.

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Speaker 1: And of course what they what they do, You might

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Speaker 1: think of it as if we did it privately, it

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Speaker 1: would be a Ponzi scheme. What they do is they

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Speaker 1: put out another loan to pay off the first loan.

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Speaker 1: So the second loan was put out in nineteen o nine.

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Speaker 1: It closed January twenty second, nineteen o nine, which is

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Speaker 1: the very day of the Republic sale from New York.

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Speaker 1: It was two hundred and forty million dollars. One hundred

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Speaker 1: and fifty million dollars was to pay off the nineteen

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Speaker 1: oh four loan coming due in May of nineteen o nine,

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Speaker 1: and ninety million dollars was to be applied to Russia's

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Speaker 1: budget for nineteen o nine. So we sell the bonds

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Speaker 1: in New York and some bonds in New York. So

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Speaker 1: we acquired the syndicate document. We identified that Russia didn't

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Speaker 1: get that ninety million dollars in new money right away

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Speaker 1: when the loan closed January twenty second. They didn't get

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Speaker 1: ninety million dollars that day. That ninety million dollars after

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Speaker 1: they segregated one hundred and fifty to pay off the

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Speaker 1: nineteen o four loan coming to the ninety million dollars

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Speaker 1: was paid to Russia over period of six months, so

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Speaker 1: as she received twenty February twenty second, twenty percent, March

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Speaker 1: twenty second, fifteen fifteen fifteen fifteen percent until they received

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Speaker 1: the entire ninety million dollars. So there we have. That

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Speaker 1: was the key, That was the breakthrough, That was the epiphany,

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Speaker 1: if you will, why Russia, Why someone needed thirty day

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Speaker 1: money at a very low interest rate, Because Russia didn't

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Speaker 1: get that money the ninety million dollars for thirty days

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Speaker 1: and now we only got a first payment. They got

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Speaker 1: eighteen million dollars on February twenty second. So that's why

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Speaker 1: the old saying is, if you have money coming to

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Speaker 1: you in the future and you need money today, you

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Speaker 1: borrow against the money coming to you in the future.

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Speaker 1: So that's the thirty day loan. And why was it

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Speaker 1: a one a half percent the going market rate? The

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Speaker 1: thirty day money market rate was two and a quarter

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Speaker 1: percent in New York at the time. Who gets money

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Speaker 1: below the thirty day market rate? The market dictates the price, well, Russia.

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Speaker 1: Even though the loan closed January twenty second, nineteen o nine,

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Speaker 1: the money became Russia's money, although it didn't receive it

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Speaker 1: for thirty days and then a payout over six months,

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Speaker 1: so Russia earns interest on that money. It's still it's received.

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Speaker 1: So Russia was getting one and a quarter percent on

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Speaker 1: its money until it was paid off. Until it received it,

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Speaker 1: but it was only paying one and a half percent

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Speaker 1: for the money was borrowing in New York, so essentially

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Speaker 1: one quarter one percent on an annualized basis. It was

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Speaker 1: getting free money at New York and it was already

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Speaker 1: into its nineteen or nine budget. So that's why it

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Speaker 1: got the three million dollars short term loan, and that

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Speaker 1: makes perfect sense. The Republic sale January twenty second, nineteen

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Speaker 1: or nine. The loan closed in Europe three pm January

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Speaker 1: twenty second, nineteen or nine. It's nine am New York time.

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Speaker 1: New York time, is enough time to move the three

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Speaker 1: million dollars. Let's just focus on that we have in

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Speaker 1: my book, and then we'll go into where the extra

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Speaker 1: twenty two million comes from. The three million dollars is

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Speaker 1: enough time to move it from the sub treasury in

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Speaker 1: Lower Manhattan to the White Star Line Pier, which is

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Speaker 1: just a few blocks away. So the three million dollars

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Speaker 1: we identified it was a short term loan brought out

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Speaker 1: by the State Bank. We then acquired through the Society

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Speaker 1: General and Credit Laonaise internal banking documents that there was

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Speaker 1: an instruction by the Minister of Finance the Russian Minister

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Speaker 1: of Finance to disperse from the directed to the French

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Speaker 1: banks who held their money. It says, all right, on

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Speaker 1: February twenty second, we need three payments one million dollars

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Speaker 1: each to the state bank account on February twenty second. Well,

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Speaker 1: that makes sense. We actually found two instructions. A third

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Speaker 1: one we haven't found yet. But no one single bank

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Speaker 1: of the syndicate had three million dollars a disperse That's

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Speaker 1: why they had an issue three instructions. We found two

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Speaker 1: of them, once to Credit Lanais and on society in general,

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Speaker 1: one million dollars each, and it's to the State Bank

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Speaker 1: on February twenty second. All the other dispersements for the

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Speaker 1: remaining six months went to the State treasury. This is

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Speaker 1: the only time those payments go to the state bank. Well,

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Speaker 1: the State Bank was the commercial bank of the Russian government.

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Speaker 1: It was a short term borrower. They are the borrower

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Speaker 1: and they needed to get that money from the loan

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Speaker 1: to repay the thirty day loan in New York. Now,

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Speaker 1: the question is why could they get below market rate interest?

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Speaker 1: All right, let's let's talk about the little financing and

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Speaker 1: how banks operated at the time. Everyone was on the

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Speaker 1: gold standard. And since they were on the gold standard,

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Speaker 1: you have foreign exchange banks. Now, how does a foreign

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Speaker 1: exchange change bank make its money? A foreign exchange bank

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Speaker 1: will have credits abroad that it could sell New York.

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Speaker 1: Let's say it's a New York forign exchange bank will

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Speaker 1: have credits abroad that it would sell to its New

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Speaker 1: York customers at a profit so that their New York

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Speaker 1: customers can make remittances to French debt obligations. If they

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Speaker 1: own a winery, for example, if they're importing French wine,

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Speaker 1: they have to pay the French winery money for that wine.

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Speaker 1: Will rather than ship physical gold, they would find a

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Speaker 1: bank that has the credits abroad that they could purchase

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Speaker 1: at a profit from the you know the bank, and

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Speaker 1: sell it a profit to the person who has to

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Speaker 1: make the fament obligation. And there's no wire transfers at

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Speaker 1: the time. You either paid in gold or you paid

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Speaker 1: in credits abroad. And that's how the foreign exchange market worked.

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Speaker 1: So where is the New York bank getting these credits

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Speaker 1: for the money that is loaning to Russia for thirty

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Speaker 1: day short term loan. It's getting those credits abroad so

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Speaker 1: that's why it could loan that money below the market

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Speaker 1: rate because it's getting those credits are broad and it

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Speaker 1: can sell. The credits are brought out a profit once

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Speaker 1: they become available. Once Russia pay is in thirty days,

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Speaker 1: So that's that also makes sense. That's why Russia could

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Speaker 1: get below market rates because the Foreign Exchange Bank is

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Speaker 1: making the profits in Paris. So that that's the three

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Speaker 1: million dollars. Now we get into more history, we get

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Speaker 1: into why why did twenty two million dollars? And this

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Speaker 1: is this is new information that we just recently acquired. Okay,

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Speaker 1: hold that, hold that thought. Then hold that thought because

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Speaker 1: I'm sorry, Can you repeat all that. I'm sorry, I

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Speaker 1: had some trouble with my headphones. No, we're gonna take

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Speaker 1: a break here, so we'll come back with the new stuff.

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Speaker 1: Will allow you to take a breath there, and I'm

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Speaker 1: looking forward to having you on my show in the future,

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Speaker 1: well on Blue Rock in my podcast. And you guys,

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Speaker 1: it's it's no longer Captain Martin bay Earley. It is

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Speaker 1: uncle Captain Martin bay Earley. I love that. I think

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Speaker 1: that totally works with your personality. We've got definitely more

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Speaker 1: to talk about and you guys are going to be

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Speaker 1: surprised at those of you that don't know the story

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Speaker 1: at all, when you even know how close it is,

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Speaker 1: and you know what he's got to do to get

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Speaker 1: this money. So let's see what happens. Listen to more

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Speaker 1: Coast to Coast AM every weeknight at one am Eastern,

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Speaker 1: and go to Coast to Coast am dot com for

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Speaker 1: more