You put a gold asteroid in orbit to mine. The price of gold plummets
An old discredited economist maintained that the value of an item is determined by the labor to produce it.
I believe he was correct in this case.
It would require massive amounts of labor to produce the tools needed to recover extratrstial gold.
It would require massive amounts of labor to produce the tools needed to recover extratrstial gold.
Yes. At first. Once the gold bug hits industrialist and space exploration is put on a fast track (perhaps hundreds of years from now.) it massive amounts of gold are found and exploited the price will go down. Unless a gold cartel the equivalent of DeBeers captures the lion share of gold bearing space rocks and only slowly releases the product so as to maintain a higher price.