If everyone was a billionaire it'd be worth this.
What the author is trying to say is that there is SO much gold in that asteroid it could make everyone rich.
Must be a Democrat/liberal. Because they have no clue how the real world works.
If everyone was a billionaire it'd be worth this.
and bernie sanders will demand every last penny of it while complaining about ‘rich people’
There was a time when aluminum was a precious metal, due to the difficulty in extracting it. When it became cheap to produce, we found other uses for it, from aircraft to food wrapping. We will probably do the same thing with gold, using it for its chemical and physical properties, rather than its use as a measure of wealth.
Those who do not learn the lessons of history are condemned to repeat them.
A long time ago, Spain conquered the New World and brought unimaginable gold and especially silver back to Spain. Silver became so common that it lost almost all its value.
Once upon a time there was a King in Africa who had a near monopoly on the known world’s supply of gold. He and his followers went on a Muslim pilgrimage to Mecca and where he stopped he spent lavishly, destroying the value of gold in those communities.
It is so nice to see that the media is so ignorant of history and in turn economics They really are all about Fake News.
The ignorance of Economics is strong in this one. . . DUMB, DUMB, DUMB. If there was so much gold brought back from this asteroid, everyone would be driving on golden pavement, using gold for trivial things, and gold would be used for throw-away beverage containers. It would make only a few people billionaires, those who could figure out new uses for a very malleable metal that was available in gigaton quantities cheap.
LOL. If gold were as common as acorns, it would be worth just as much. This article is just plain silly.
If “everyone on earth” was a billionaire, a loaf of bread would cost at least 10 million dollars. What nitwittery.
When the supply of a substance increases the cost decreases. If gold and silver were as common as silicon they would not be so highly valued.
...how'd that work out?
The Zimbabwean treasury made everyone there a quadrillionaire with their 100 trillion dollar bills. And you needed a stack to buy a loaf of bread.
That’ll drop the gold price to about 10 cents per ounce.
Uncle Scrooge #24 - The Twenty-four Carat Moon - December 1, 1958.
https://readcomiconline.to/Comic/Uncle-Scrooge-1953/Issue-24?id=57871#1
If it costs more to mine a pound of metal from the asteroid, than the metal is worth here on earth, then the value is zero. At least, until space travel gets much cheaper.
Talk about “Pie in the Sky”. This too shall pass.
If everyone is a ‘billionaire’ then nobody is a ‘billionaire’..................
Apparently no one is learning economics anymore. If EVERYone is a billionaire, no one is.
Who are you going to get to cook your meals our build your yacht or even mow your lawn- what are you going to offer them Gold? They have some.
When something becomes as abundant as water it has similar value. Would you go to work tomorrow for an ounce of water?
What it would do, though, is make advanced electronics possible on an unheard-of scale. Also medical devices would be cheaper. Advanced computer would be more powerful. etc etc...
We would ALL enjoy the benefits of gold (of which there are many), not just rich people.
Gold would make a great replacement for aluminum siding, so it would always have some value.