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The Golden Asteroid That Could Make Everyone On Earth A Billionaire
Oilprice.com ^ | 06-26-2019 | Joao

Posted on 06/26/2019 8:02:12 AM PDT by bananaman22

Whether it was the Big Bang, Midas or God himself, we don’t really need to unlock the mystery of the origins of gold when we’ve already identified an asteroid worth $700 quintillion in precious heavy metals.

If anything launches this metals mining space race, it will be this asteroid--Psyche 16, taking up residence between Mars and Jupiter and carrying around enough heavy metals to net every single person on the planet close to a trillion dollars.

The massive quantities of gold, iron and nickel contained in this asteroid are mind-blowing. The discovery has been made. Now, it’s a question of proving it up.

NASA plans to do just that, beginning in 2022.

(Excerpt) Read more at oilprice.com ...


TOPICS: Astronomy; Business/Economy; Science
KEYWORDS: asteroid; astronomy; catastrophism; cspan; elonmusk; falcon9; falconheavy; gold; goldasteroid; mining; science; space; spacex; wealth
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1 posted on 06/26/2019 8:02:12 AM PDT by bananaman22
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To: bananaman22

And if everyone in the US owned a personal copy of Action Comic #1 (Superman’s debut in 1938) then we could all sell them on ebay next week and be wealthy.

Or maybe Supply and Demand doesn’t work that way ...


2 posted on 06/26/2019 8:05:01 AM PDT by ClearCase_guy (If White Privilege is real, why did Elizabeth Warren lie about being an Indian?)
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To: bananaman22
Whether it was the Big Bang, Midas or God himself, we don’t really need to unlock the mystery of the origins of gold when we’ve already identified an asteroid worth $700 quintillion in precious heavy metals.

Someone doesn't understand the basic economic concept of "supply and demand."

3 posted on 06/26/2019 8:05:09 AM PDT by Yo-Yo ( is the /sarc tag really necessary?)
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To: bananaman22

Does the Author of this piece understand the basic Economic concept of Supply and Demand?

Rarity is expensive, an overabundance of anything is cheap.


4 posted on 06/26/2019 8:05:15 AM PDT by Kickass Conservative (THEY LIVE, and we're the only ones wearing the Sunglasses.)
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To: Yo-Yo

You beat me by that much. LOL


5 posted on 06/26/2019 8:05:38 AM PDT by Kickass Conservative (THEY LIVE, and we're the only ones wearing the Sunglasses.)
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To: bananaman22

Does whoever wrote the headline to this article have no understanding of economics? Supply and demand? If billions of dollars worth of minerals are brought to Earth flooding the market they will not be be worth billions of dollars anymore.


6 posted on 06/26/2019 8:05:52 AM PDT by Bubba_Leroy (The Obamanation has ended!)
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To: bananaman22

And supply and demand will have no effect on the price, right?


7 posted on 06/26/2019 8:06:10 AM PDT by ArcadeQuarters (You can't have socialism without slavery.)
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To: ClearCase_guy

You too...


8 posted on 06/26/2019 8:06:22 AM PDT by Kickass Conservative (THEY LIVE, and we're the only ones wearing the Sunglasses.)
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To: bananaman22

We’ve all said the same thing. :D


9 posted on 06/26/2019 8:06:44 AM PDT by ArcadeQuarters (You can't have socialism without slavery.)
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To: Kickass Conservative; ClearCase_guy

Well, ClearCase_Guy beat us both...


10 posted on 06/26/2019 8:06:48 AM PDT by Yo-Yo ( is the /sarc tag really necessary?)
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To: ClearCase_guy

Typical liberal mindset. No different from “Let’s flood the U.S. with illegal aliens, it won’t affect the wages of anyone who is already here.”


11 posted on 06/26/2019 8:07:53 AM PDT by Bubba_Leroy (The Obamanation has ended!)
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To: ClearCase_guy

Reminds me of Hitchhiker’s guide. They land on a prehistoric world and invent money: Tree leaves. The problem is that because they are not scarce, it takes a boatload of tree leaves to buy a haircut.

Solution: Burn down the forests.


12 posted on 06/26/2019 8:07:55 AM PDT by cuban leaf
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To: bananaman22

Even leaving aside the obvious supply and demand misunderstanding - unless everyone on Earth takes a spaceship to the asteroid to dig their own billion dollars worth of gold, the only way they will become fantasy billionaires is if government takes the gold from actual miners and redistributes it to them in return for their eternal political support.


13 posted on 06/26/2019 8:09:05 AM PDT by Mr. Jeeves ([CTRL]-[GALT]-[DELETE])
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To: ClearCase_guy
Or maybe Supply and Demand doesn’t work that way ...

But, we would all have access to a nice, malleable, electrically conductive metal that doesn't corrode. Also, it's kind of pretty.

14 posted on 06/26/2019 8:09:06 AM PDT by Rinnwald
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To: Yo-Yo

Someone doesn’t understand the basic economic concept of “supply and demand.”


Yup. My thought exactly.


15 posted on 06/26/2019 8:09:37 AM PDT by rbg81 (Truth is stranger than fiction)
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To: Yo-Yo

“Well, ClearCase_Guy beat us both...”

I think I beat you all, because I thought of supply and demand before I read any of your comments. ;)


16 posted on 06/26/2019 8:09:52 AM PDT by be-baw
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To: bananaman22

Stupid! If everyone on Earth had a billion dollars, a loaf of bread would cost $4 billion.

And if there were that much gold, it would be cheaper than marshmallows.

Yes, there is an awful lot of stupidity in the world, and much of it is writing articles.


17 posted on 06/26/2019 8:13:55 AM PDT by I want the USA back (The further a society drifts from the truth, the more it will hate those who speak it. Orwell.)
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To: bananaman22

If there were that much gold it would be practically worthless. It’s scarcity makes it valuable.


18 posted on 06/26/2019 8:14:14 AM PDT by bk1000 (I stand with Trump)
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To: bananaman22

Golds value is in its rarity. Introduce that much gold and people will pay to have it hauled off.


19 posted on 06/26/2019 8:14:53 AM PDT by Lurkina.n.Learnin (If you want a definition of "bullying" just watch the Democrats in the Senate)
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To: ClearCase_guy

I was thinking the same thing.

If a precious metal was no longer precious or at least scarce, it’s value would deflate.


20 posted on 06/26/2019 8:15:53 AM PDT by z3n
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