This asteroid filled with gold is worth more than everything on Earth put together

[DudleySmith]

He's an idiot.

Says a clown who has never seen a tax return but tries to claim he knows stuff about taxes.

 

[Toddsterpatriot]

Says a clown who has never seen a tax return but tries to claim he knows stuff about taxes.

Tell me more about Reagan raising taxes on the poor in 1986. DURR.

 

[Toddsterpatriot]

It would make a hard currency much more available.

How valuable would gold be?

 

[ReinyDays]

How valuable would gold be?

Let's zero the price ... gold investments crash, gold mines shut down ... that would be painful for many, and that would spread throughout the economy ... but is it inherently inflationary? ... the money supply is the same, it's not based on gold ... there will be a drawdown, but just the portion that was invested in gold, are recessions inherently inflationary? ...

"Printing" money to replace that lost value is what's inflationary ... and it's a choice ... a choice YOUR Congress will make every time, just for campaign contributions ... make the Middle Class pay for The Rich's losses, that's what's inflationary ...

I'm entitled to these strong opinions based on my near-complete lack of knowledge of gold markets ...

 

[Toddsterpatriot]

Let's zero the price ... gold investments crash, gold mines shut down ... that would be painful for many, and that would spread throughout the economy ... but is it inherently inflationary? ... the money supply is the same, it's not based on gold ... there will be a drawdown, but just the portion that was invested in gold, are recessions inherently inflationary? ...

"Printing" money to replace that lost value is what's inflationary ... and it's a choice ... a choice YOUR Congress will make every time, just for campaign contributions ... make the Middle Class pay for The Rich's losses, that's what's inflationary ...

I'm entitled to these strong opinions based on my near-complete lack of knowledge of gold markets ...

DipshitSmith thinks people will carry 20 pounds of gold coins instead of a c-note.

 

[Robert W]

It would make a hard currency much more available. It would drive paper currency out of use.

Currency is like a contract. Would you also make all contracts particles of gold?

 

[toobfreak]

yeah. I don't think so. This is click bait.

Yes it is.

The composition of 16 Psyche is only known to be roughly around 50% metal via radar sounding.

There is likely to be a lot of iron and nickel in it. Iron and nickel are formed via stellar core sublimation whose result produces trace amounts of higher binding energy elements including gold, but is blown away into space in the resulting reaction and not likely to stay contained within an iron/nickel mass.

Maybe in another century, it might be practical and cost effective enough to start mining it, but we already have all the iron, nickel and gold here we need and suppose we did bring back mega tons of it? Besides crashing the world economy essentially making gold so bountiful and common to become worthless, what would we do with it all, build skyscrapers out of it?

 

[ReinyDays]

Besides crashing the world economy essentially making gold so bountiful and common to become worthless, what would we do with it all, build skyscrapers out of it?

Gold doesn't readily oxidize ... the marine applications would abound ... gold-plated ships wouldn't rust ...

 

[ThisIsMe]

I know a group of people who could mine this asteroid. Granted, they are oil drillers as their day job, but their owner, Harry, knows a lot about drilling. He’d be a good fit for this project. Just kinda have to watch them a little, they can get kinda rowdy and the owner does have a beef with one of his employees because that employee is dating his daughter.

 

[westwall]

I know a group of people who could mine this asteroid. Granted, they are oil drillers as their day job, but their owner, Harry, knows a lot about drilling. He’d be a good fit for this project. Just kinda have to watch them a little, they can get kinda rowdy and the owner does have a beef with one of his employees because that employee is dating his daughter.

She was cute back then