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Metal Asteroid Hurtling Through Space Could Wipe Out...U.S. Debt!
Bill Whittle Now ^ | 8/31/2019 | Bill Whittle

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.


TOPICS: Astronomy; Science
KEYWORDS: 16psyche; asteroid; astronomy; catastrophism; debt; elonmusk; falcon9; falconheavy; science; spacex
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Why is Trump dedicating unprecedented attention and resources to space?

Metal Asteroid Hurtling Through Space Could Wipe Out...U.S. Debt! Youtube Link

7

1 posted on 08/31/2019 9:57:10 AM PDT by infool7
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To: infool7

Get a very big magnet


2 posted on 08/31/2019 9:58:10 AM PDT by butlerweave
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To: mabarker1

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


3 posted on 08/31/2019 10:04:29 AM PDT by infool7 (Your mistakes are not what define you, it's how gracefully you recover from them that does.)
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To: infool7

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!!


4 posted on 08/31/2019 10:07:08 AM PDT by Bringbackthedraft
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To: infool7

Psyche has a fairly pure iron–nickel composition
— Wikipedia


5 posted on 08/31/2019 10:08:42 AM PDT by samtheman (The drive-by media is the true boss of the democommie party.)
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To: infool7

Que the bottom falling out of the steel market for generations to come.


6 posted on 08/31/2019 10:13:31 AM PDT by Sparticus (Primary the Tuesday group!)
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To: infool7

It’s going to hit the treasury Record’s office!!!


7 posted on 08/31/2019 10:16:42 AM PDT by DannyTN
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To: butlerweave

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.


8 posted on 08/31/2019 10:16:47 AM PDT by Manly Warrior (US ARMY (Ret), "No Free Lunches for the Dogs of War")
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To: infool7
Metal Asteroid Hurtling Through Space Could Wipe Out...U.S. Debt!


That is the only thing that will.
9 posted on 08/31/2019 10:17:17 AM PDT by The_Media_never_lie (Please, oh pretty please let Crazy Uncle Joe Biden be the nominee.)
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To: infool7

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.


10 posted on 08/31/2019 10:17:26 AM PDT by DarrellZero
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To: infool7

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.


11 posted on 08/31/2019 10:22:13 AM PDT by Nateman (If the left is not screaming, you are doing it wrong.)
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To: Sparticus

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).


12 posted on 08/31/2019 10:24:02 AM PDT by samtheman (The drive-by media is the true boss of the democommie party.)
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To: infool7
Question?

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.

13 posted on 08/31/2019 10:25:52 AM PDT by Don Corleone (Nothing makes the delusional more furious than truth.)
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To: DarrellZero
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.

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.

14 posted on 08/31/2019 10:35:13 AM PDT by Jack Black ("If you believe in things that you don't understand then you suffer" - "Superstition",Stevie Wonder)
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To: Don Corleone

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


15 posted on 08/31/2019 10:38:06 AM PDT by Tai_Chung
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To: Don Corleone
Debt repudiation is almost always horrible for the nation doing it. Argentina tried it. It seems like once you go this route it's always very tempting to do it again. I believe Argentina has had 8 or 9 debt repudiations by now.

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.

16 posted on 08/31/2019 10:44:10 AM PDT by Jack Black ("If you believe in things that you don't understand then you suffer" - "Superstition",Stevie Wonder)
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To: infool7
An asteroid valuable enough to wipe out the US debt? Impossible, but it has nothing to do with technology or economics. Rather, it's the essential nature of the criminal class that inhabits all legislatures and government bureaucracies in the universe:

Any new source of revenue causes politicians to immediately propose spending three times its estimated value.

17 posted on 08/31/2019 10:44:18 AM PDT by Dahoser
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To: Don Corleone
This gives a good feel:

Wikipedia: Argentine debt restructuring

18 posted on 08/31/2019 10:49:33 AM PDT by Jack Black ("If you believe in things that you don't understand then you suffer" - "Superstition",Stevie Wonder)
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To: Jack Black

France did it. Where’s their comeuppance?


19 posted on 08/31/2019 10:52:24 AM PDT by steve8714
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To: infool7

The law of supply and demand says the price goes down when the supply goes up.


20 posted on 08/31/2019 10:53:17 AM PDT by E. Pluribus Unum ("If liberty means anything at all, it means the right to tell people what they do not want to hear.")
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