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.
Demand can also expand with supply. Take aluminum for example: before a practical method of refining it was discovered, aluminum was extraordinarily expensive and used mostly for ornamental display. Today, although the price of aluminum is much cheaper, it is used in many more applications. While it’s supply has increased, aluminum’s increased utility based on its greater availability, assures a much higher demand. The end result is that today’s aluminum industry produces many times many more wealth and more billionaires than when it was a rare commodity in short supply. Gasoline is another example.
For that, we would needs Lensmen!
H/T to E. E. “Doc” Smith
Thanks Red Badger. My plan is for the US to build a bootstrapped operation -- start with photovoltaic-powered robotic mining and processing plants, one of which would produce photovoltaic arrays to increase power available for the other mining and processing operations; produce pure gold and pure silver ingots, but also 50-50 metallic foam swirl US coins; produce shuttle-like reentry vehicles out of titanium or titanium foam, coated with ablative material; send Earth-fabbed guidance systems to bring the shuttles down loaded with gold, silver, and coin. Some of the orbiters would be sold to US companies as reusable vehicles, and some would be melted down or otherwise reused for their titanium content.
I will not believe it until I see the reality show.
>>I am glad you recognized that fact about yourself. Perhaps you could find a nice bridge game to join?<<
Ah the old “I know you are but what am I” rejoinder.
You know nothing of economics and your response shows the depth of your ignorance.
Don’t look now, but your projection is showing ! “You know nothing of economics and your response shows the depth of your ignorance.”
>>Don’t look now, but your projection is showing ! “You know nothing of economics and your response shows the depth of your ignorance.”<<
Ah, more “O know you ar but what am I.”
Define in your own words the difference between supply and demand and quantity supplied and quantity demanded or admit you know nothing about the subject.
Then explain how COGS applies to the definitions.
or admit you are ignorant and STFU.
Physician heal thyself “or admit you are ignorant and STFU.”
Thought so.
You can’t meet my challenge because you don’t know.
Ignorant fool.
You should stop before you make yourself look more pathetic than you already have.
Put up or shut up.
I won’t hold my breath.
IOW you cant answer the question and are left with ad hominem.
I knew as much. Children like you should stay off the nterwebz.
Thanks for making your ignorance public. I asked one question and got multiple ad hominem answers.
You are an embarrassment to FR and Conservatives (probably a liberal since they don’t understand basic economics either).
Before your pathetic silly insult answer either answer my very simple question or don’t bother.
Yeah, that is what I thought.
You have been Googleing like heck but still no easy answer. That is because you have to KNOW the fundamentals of the subject before you can answer the quesiton.
I might as well ask a pet ferret about the differences between 2VL and 3VL and why Codd and Date disagreed and why.
Good morrow to you.
You are exposed forever as an ignorant bully whose only stock in trade is insults. Don’t bother to deny it, I need only quote our conversation verbatim to prove my point.
Which I will do if need be.
IOW you can’t answer my simple question about economics which means you are ignorant on the subject.
Twist and turn all you want but your vapidity is exposed.
Look at this entire discussion. In not a single response do you answer the question. You just keep repeating your childish insults.
When do you think it will realize that I am just reflecting back every insult it tosses...I will bet on 20 years, it is not too bright...
IOW you can’t answer the question and continue to tap dance to try o cover your VERY exposed ignorance.
All the insults in the world won’t change a thing — you are outed as an idiot who stepped into a topic he doesn’t understand.
Again, nothing bu insults and you won’t answer the question because you DON’T KNOW the answer.
You’re busted as a dunce and a fool.
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