This Planet Money episode investigates the complex legal battle surrounding the San Jose, a 300-year-old Spanish galleon discovered off the Colombian coast, containing billions of dollars in treasure. The podcast details competing claims from Colombia (based on the "finders keepers" principle and territorial waters), Spain (sovereign immunity and historical ownership), the Caracara indigenous group (claiming ownership of the silver and gold mined on their ancestral lands), and American businessmen (who claim prior discovery rights). The episode highlights the legal complexities arising from overlapping jurisdictions and the legacy of colonialism, illustrating how modern legal frameworks struggle to resolve disputes rooted in centuries-old events. The ongoing legal battle, including a case before the Permanent Court of Arbitration, underscores the challenges of resolving international disputes involving historical artifacts and significant financial value.
