Posted on 08/31/2019 9:57:10 AM PDT by infool7
A metal asteroid worth $10,000 quadrillion, hurtling through space, makes construction of a massive orbital space station substantially cheaper. At least one company is already pitching a plan for a Von Braun Gateway Station housing some 1,500 people in orbit. The resources on the single asteroid, 16 Psyche, is not only enough to build the station, but to wipe out the U.S. national debt thousands of times over.
Metal Asteroid Hurtling Through Space Could Wipe Out...U.S. Debt! Youtube Link
7
Get a very big magnet
This changes EVERYTHING!
I don’t know why I didn’t realize it the first time
President Trump announced space force,
He’s going for it BIG TIME.
Could this be the reason he decided to
become president?
7
At least one company is already pitching a plan for a Von Braun Gateway Station ................... Errrrr, I think it will have to be renamed due to the offensive name associated with that guy with the small mustache? No!! Not space Station #88, which I am sure will be brought up. LOL!!
Psyche has a fairly pure iron–nickel composition
— Wikipedia
Que the bottom falling out of the steel market for generations to come.
It’s going to hit the treasury Record’s office!!!
Gravitational field, get it caught, swing it into orbit, mount vectoring rockets, stabilize it, mine, build the next gen of space vehicles in orbit,....
Oh, yeah, reality bites, it works for sci-fi writers and modern scientists, but I repeat myself....
Best bet is to watch it safely silently slip past back into the dark of interstellar space.
People that say things like this always puzzle me. Is he unfamiliar with the law of supply and demand?
The reason the price of gold is high is because the supply is low relative to demand. Does he seriously think you could dump a quadrillion tons of gold into the market at $300 / ounce?
That much supply would hugely increase supply and accordingly crash the price.
In space it’s easy to make metal foam. The stuff could be dropped into the ocean from space. It would float waiting for pickup.
It’s an iron asteroid, not a steel one. How would it hurt the steel industry if its main raw material got cheaper? But wait, is launching big rockets to get iron from space really cheaper than mining iron on earth? Nope! As Isaac Arthur points out, we will mine asteroids for construction projects off-earth, not to send the mined materials down to earth (unless we’re talking about rare materials, which iron and nickel are NOT).
What would be the effect on the world if the USA just declared that all its debts,financial credit obligations and promissory notes were INVALID? We no longer recognize any past national indebtedness. That tomorrow we are starting over from ZERO. The whole world is running on Fiat currency anyway. I am open to serious informative discussion.
That much supply would hugely increase supply and accordingly crash the price.
Yes, there already was a gold-based inflation, after the discovery of the New World and the looting of AmerIndian gold by the Conquustidors there was a lot of inflation in Spain. Lots more money (gold) chasing not much more stuff (Spanish land, horses, wine, etc.)
TANSTAAFL.
China owes us $1 trillion in debt left over from WW2 that we no longer recognize because China said it they won’t pay. We should pay back our debt to them using those bonds
In their case they paid off bonds at 76%.
Basically having the world's reserve currency fail via debt repudiation would be worse than 1929, in terms of total collapse.
Most banks, worldwide, hold US Treasuries as their main form o reserves.
SO if T-bills were now with ZERO, then the Yen and Japanese banking system are FUBAR'd. Banks operate on fractional reserve.
For every $1 of reserve that they have they are allowed to lend out some amount of money. In the olden days it was frequently 10%.
So, based on the fact that the Bank of Osaka has $1 billion in T-bills sitting in their vaults they have made $10 billion in loans.
If the T-bills value goes to ZERO then they have no reserves, and their loans are all completely unsecured. This leads to a bank run.
Because Japan has their own central bank they could, theoretically agree to give Japanese banks all the money they need to meet the demands being made against them, but this would result in a huge amounts of new currency swamping the economy, so inflation.
Any new source of revenue causes politicians to immediately propose spending three times its estimated value.
Wikipedia: Argentine debt restructuring
France did it. Where’s their comeuppance?
The law of supply and demand says the price goes down when the supply goes up.
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