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Titan sub: crew have died after catastrophic loss of pressure chamber, US Coast Guard confirms
(www.theguardian.com)
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Wonder what made the banging noises...?
The phrase "red herring" originated because the u.s. navy mistook fish noises for incredibly stealthy russia submarines for years :P
Could be anything
"Red herring" as a term originates from the early 1800s. Although you're absolutely right on the larger point; the ocean is noisy and sound carries, there's no telling what it was.