Was Titanic Sinking an Insurance Scam?

By John Hamer – henrymakow.com April 15, 2012

In 1908, financier J.P. Morgan planned a brand new class of luxury liners that would enable the wealthy to cross the Atlantic in previously undreamed-of opulence.  The construction of the giant vessels, the ‘Olympic‘, the ‘Titanic‘ and the ‘Britannic,’ began in 1909 at the Harland and Wolff  shipyard in Belfast, Ireland.
Unfortunately for Morgan, this money-making venture went a little awry.  The Olympic, the first of the three sister-ships to be completed was involved in a serious collision with the British Royal Navy cruiser, HMS Hawke in September 1911 in Southampton a few weeks after its maiden voyage. It had to be  ‘patched-up’ before returning to Belfast to undergo proper repair work.
In hindsight, it does seem strange that the Olympic, the first of the ‘sisters’ to enter service, was never given the publicity her younger sister, the Titanic, enjoyed the following year  Why would that be? 
In the meantime, a Royal Navy inquiry into the accident found the Olympic at fault for the collision and this meant that the owner, White Star Line’s insurance was null and void.  The White Star Line was out of pocket to the tune of at least £800,000 (around $90m today) for repairs and lost revenues. 
However, for Morgan and the White Star Line, there was even worse news.It is believed that the keel of the ship was actually twisted and therefore  beyond repair, which would have effectively meant the scrapyard. The White Star Line would have been bankrupted, given its precarious financial situation..
According to Robin Gardner’s book, ‘Titanic, the Ship that Never Sank?
the seeds were sown for an audacious insurance scam – the surreptitious switching of the identities of the two ships, Olympic and Titanic.
Continues in full at source…

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