What is ''TIME CAPSULE"?

Is this what is know as 'losing time'? Wisconsin town doesn't remember where their time capsule was buried.

http://www.accessatlanta.com/celebrities-tv/lost-time-capsule-eludes-788124.html?cxntlid=thbz_hm Oops.
Answer:

Good. What's the point of digging up a time capsule if you already know what's in it? "Hey, you all remember that time we were talking about that question EBR asked? About the town that lost its time capsule?" "That's RIGHT NOW." "Oh, yeah. Good times, good times."

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