Lake Monsters
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Physical Creatures
The main problem with the theory that these creatures are actually physical animals, is the lack of scientific evidence, and the fact that the lakes they are said to haunt do not hold enough food to support even a small a population of large animals. It is assumed that there must be more than one creature to sustain sightings over a long period of time.

Other physical theories suggest that the sightings are related to misidentified fishes and mammals, such as a giant catfish, or a giant eel, or even a giant sturgeon. One validation of this theory (described in The Best of Fortean Times, Futura 1991) came in 1987 when a 900 pound, 11 foot long sturgeon was found dead in Lake Washington USA, apparently there had been a story about a giant duck eating monster living in the lake for many years before this discovery. The Sturgeon is thought to have died from old age, and may have been 80 years old.

One of the most popular explanations for the Loch Ness monster is that it is a Plesiosaur, an aquatic dinosaur that has somehow survived for millions of years in the deep loch, when it became cut off from the sea. Probably its biggest detriment is that the loch was virtually frozen solid during the Ice Ages.

That creatures thought extinct can survive is proved by the rediscovery of the Coelacanth in African waters, which was thought to have died out with the dinosaurs. But if this were the case at Loch Ness, there is a high probability that a specimen would have been caught by now. If not a live creature perhaps a dead one, washed up on the loch's shore. This will be the only way to prove its physical validity.
Other Theories
Other theories about lake monsters suggest that the sightings are more related to other paranormal sightings, such as black dogs and ghosts, than to real animals. Perhaps related to certain geophysical conditions affecting the human mind. This theory has been related to places where the earth is under pressure, such as fault lines and plate margins. Loch Ness, which has long history of the uncanny is situated on the Great Glen Fault, which stretches across the country incorporating Loch Lochy, Loch Linnhe, and Loch Oich, all of which are also reputed to be haunted by monsters.

Early exponents of the mystical view that the haunted lakes acted like gateways to the enchanted, included members of the Golden Dawn. One, a friend of WB Yeats the Irish poet, remarked that the creatures were placed here by subtle enchanters to watch over the gates of wisdom, which suggests a theory related to some of the older folk beliefs about gateways into the other world. Something that may be ingrained in human subconscious.

One exponent of this idea is Doc Shiels, who was apparently successful in conjuring up lake monsters using shamanic practices and sympathetic magic, during his 'Monster Mind Experiment' of 1977. This apparently resulted in two clear photographs of Nessie, which have been declared as fakes from some quarters.

In all probability sightings of strange lake monsters will continue, and so will speculation as to their origin. It is doubtful whether there is one unified theory to explain all sightings, but perhaps in the future we will be closer to understanding all paranormal events.