The Conspiracy Theory That Might Explain The Oak Island Mystery

But a new theory (via YouTube) from author Hammerson Peters and his book "The Oak Island Encyclopedia" might just help solve the Oak Island mystery. Known as the William Phips Theory, it involves a 17th century explorer (Mr. Phips), who happened to find the shipwreck of the Spanish galleon Concepcin during one of his many

But a new theory (via YouTube) from author Hammerson Peters and his book "The Oak Island Encyclopedia" might just help solve the Oak Island mystery. Known as the William Phips Theory, it involves a 17th century explorer (Mr. Phips), who happened to find the shipwreck of the Spanish galleon Concepción during one of his many expeditions. When Phips returned to England with the treasure (the equivalent of several million dollars in today's currency), he was "encouraged' by rogue Protestants, backed by King William III of the Netherlands, to go back and retrieve more (via Men's Health). The money, he was told, would be used to overthrow King James II, an avid defender of Catholicism.

Phips did go back, recovered plenty of additional silver coins and shared much of that with his Protestants friends. But he also decided he might as well hide the rest in Oak Island. As that's how the original Money Pit came to be. Unfortunately for Phips, the hole flooded while he was digging and despite several attempts to retrieve the treasure, it seems it just wasn't meant to be.

According to Peters, the British Crown then decided to booby trap the island (in an "If we can't have the treasure, neither can you" sort of position), adding the false tunnels and shafts that explorers are still finding today. Modern-day treasure hunters have also found 17th century English tools, human bones carbon-dated to the same time period, and other signs of human activity on the island from back then — things that would confirm the Phips theory.

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