Posted on 04/23/2018 10:12:11 AM PDT by Red Badger
A galactic gold rush has been predicted for some time, with experts saying teams will race against each other to collect precious metals from space rocks.
Earlier this year, physicist Michio Kaku described asteroids as “flying gold mine[s] in outer space” that could replenish any metal shortage on Earth.
Examples of valuable asteroids include one rock measuring 3,000ft across that contains $5.4 trillion worth of platinum.
And now it is predicted the first trillionaire will make their fortune in outer space.
PRICELESS: One asteroid contains $5.4trillion worth of platinum
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Renowned astrophysicist Neil deGrasse Tyson: “The first trillionaire there will ever be is the person who exploits the natural resources on asteroids.
“There’s this vast universe of limitless energy and limitless resources.
“I look at wars fought over access to resources. That could be a thing of the past, once space becomes our backyard.”
A fortune of a trillion would make them wealthier than the world's richest men Jeff Bezos, Mark Zuckerberg and Bill Gates combined.
Finance company Goldman Sachs has also been closely monitoring the space mining market.
The investment bank said in a recent statement: “While the psychological barrier to mining asteroids is high, the actual financial and technological barriers are far lower.
“Prospecting probes can likely be built for tens of millions of dollars each and Caltech has suggested an asteroid-grabbing spacecraft could cost $2.6 billion.”
At the moment, the race to bring back these flying metals is between private companies.
However, this looks set to change after Luxembourg established the Space Resources Initiative.
The country’s government is planning to dole out millions in funding to companies looking to exploit space’s natural resources.
Our goal is to put into place an overall framework for the exploration and commercial use of resources from ‘celestial bodies’ such as asteroids, or from the moon,” commented Etienne Schneider, Luxembourg’s deputy prime minister and minister of the economy.
Good news for consumers purchasing new catalytic converters.
Time to get into the Latnium market is now!
Back last summer, there was a rash of thefts of Converters from peoples’ cars parked in their own driveways!.....................
You don’t even have to ship it.
Just claim it.
Then use it as collateral......................
https://www.economicshelp.org/blog/7785/concepts/what-happened-to-the-spanish-gold-from-the-incas/
Impact of Inca gold on the economy of Spain and the rest of Europe.
Long term, not a good thing.
The rocket exhaust would cause Solar System Warming!
To the ovens with you!
It still is.......................
>>Once that much metal becomes available, the price will drop to cheaper than water !<<
The cost of retrieval and processing, as well as quantity manipulation, will keep that from happening for quite some time.
>>Earth First!<<
Terra-ist!
The costs to mine them and return them to earth may negate the profits.
Not to mention the Queen.
Yep.
Costs a HUGE amount to get to space, and a HUGE amount for the fuel to propel the payload. Not worth it.
Plus, that much of a product will have the price plunging. Remember “supply/demand” that they don’t teach in schools any more?
The current quoted price of a commodity doesn’t give you what your holding is “worth.” You have to sell it first. It is worth what someone is willing to pay for it.
Faulty calculations based on incomplete understanding.
Re: A Diamond as Big as the Ritz.
“Todd Hoffman couldn’t find gold in a jewelry store.”
Parker Schnabel
Something I’ve never seen addressed with the talk of space mining is how the material will be brought down to earth. Will there be a fleet of re-entry vehicles like space dump trucks waiting to do the job? Just how is it to be done?
Gold, silver and other precious metals will no longer be precious, if these are available in huge quantities. If this happens, then it is time for Bitcoin.
Just use the transporter, Scotty........................
No, I think he means gold pressed Latinum.
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