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

[DudleySmith]

Tell me again how taxpayers in the lowest brackets paid more after the 1986 tax reform.

DURR

Don't need to, they can look it up for themselves, unlike you. Now you've had your male attention quota for today, now run along and play with your dolls, like the good nurse wants you to.

 

[DudleySmith]

Gold getting more and more expensive means currencies are worth less,
but now, super cheap gold is going to make the currencies worthless?

That's even dumber than your derivative idiocy.

Most people will take hard currency over paper, as they do around the world, except you of course. You use magic beans there at the home, right?

 

[westwall]

Here is the interviewer sent to fool all of the Gullibles :-

Janna LEVIN, Astrophysicist.
Here is her bio from Barnard/Columbia: htps://barnard.edu/profles/janna-levin
At least half a dozen red flags but this is my favorite:--

Professor Levin writes and publishes for both scientific and general audiences.
Her novel, A Madman Dreams of Turing Machines, won the PEN/Bingham Fellowship for Writers, an award which "honors an exceptionally talented fiction writer whose debut work ... represents distinguished literary achievement..." and the Mary Shelley [RS – she “wrote” Frankenstein] Award for Outstanding Fictional Work.
It was a runner-up for the PEN/Hemingway Award for "a distinguished book of first fiction."

Many scientists write fiction. That's not an issue.

 

[DudleySmith]

Many scientists write fiction. That's not an issue.

Don't even know what he's babbling about; it's just a story, and nobody is going to be mining the thing any time soon. In fact, with the First World collapsing, we'll be lucky to have working phone systems in a few years, much less a big space industry.

 

[Toddsterpatriot]

Don't need to, they can look it up for themselves, unlike you. Now you've had your male attention quota for today, now run along and play with your dolls, like the good nurse wants you to.

You can look it up and post your math. If you can do the math.
And if you'd actually post it.
Because it refutes your claim. DURR

 

[Toddsterpatriot]

Most people will take hard currency over paper, as they do around the world, except you of course. You use magic beans there at the home, right?

Are they going to take hard currency that's as common as iron?

Tell me some more about this asteroid caused inflation.

Hilarious!

 

[Toddsterpatriot]

Don't even know what he's babbling about; it's just a story, and nobody is going to be mining the thing any time soon. In fact, with the First World collapsing, we'll be lucky to have working phone systems in a few years, much less a big space industry.

Pussy.

 

[DudleySmith]

Pussy.

Toddster is very triggered. Hoe his nurse notices and gives him his meds on time.

 

[Meathead]

MSN

"The countdown is on for the launch of Nasa’s Psyche spacecraft, bound for an asteroid worth more than you can possibly imagine.


Or maybe you can, if you have an idea of what $10,000 quadrillion, or £7,700 quadrillion, would buy – but given that’s more than the entire global economy by quite a bit, it might be a struggle. Combined GDP is currently a comparatively measly $105 trillion.


That’s pocket change for the asteroid which, scientists hope, has a core of iron, nickel and gold – making it a literal flying gold mine."

Wonder what would happen to the inflation rates with that dumped on the markets.

Gold would be cheaper than copper.

 

[DudleySmith]

Gold would be cheaper than copper.

And thus would push out paper currency. Gold is a very useful commodity; paper money won't even make good kindling.

 

[Toddsterpatriot]

Toddster is very triggered. Hoe his nurse notices and gives him his meds on time.

Don't trip while you're running away with tear-filled eyes.

 

[Toddsterpatriot]

And thus would push out paper currency. Gold is a very useful commodity; paper money won't even make good kindling.

Why would $5 a pound gold impact paper currency at all?
Are you going to carry around 20 pounds of gold instead of

DURR.

 

[ReinyDays]

Many scientists write fiction. That's not an issue.

I've been studying mathematics Prof. Charles Dodgson's writings ... from fourth-dimensional existance to chemical chirality ... it's all mid-19th Century stuff but still effective ...

The good professor wrote under the pen-name "Lewis Carroll" ...

 

[ReinyDays]

I think the mistake here is thinking "gold is worth money" ... when closer to the truth is "gold is money", literally ... the $5 Gold Piece minted by the US Mint contained exactly $5 worth of gold ... if the value of gold goes up, coins are minted smaller ...

Ah ... but the price of gold was set by law at $35/oz ... AND ... it was illegal to sell gold to anyone except the Federal Government ... and this is how the Federal Government regulated the money supply ... when gold and silver came into Ft Knox, we printed an equivalent in currency ... OR ... send the gold and silver to the mint for coinage ...

Maybe we forget that before the Civil War, we mainly used Spanish money ... "piece-of-eight" were being minted in Latin America at astonishing rates ... we still use the Peso symbol for our money $ ...

=====

Actually, I'm here to make comment on the science of the OP ... asteroids made of iron/nickel are quite common ... Meteor Crater just off the I-40 in Arizona has pieces of the original object and they're all solid iron/nickel ... folks have been rubbing the pieces clean for years and it's solid iron !!!

Yes, there's gold there too, but in the same concentration we find here on Earth ... or any object in the solar system (including the Sun) ... very little ... I make this claim based on how gold is formed in supernovae explosions, specifically ones that occurred 5-6 billion years ago ... all the gold in our solar system existed before the solar system, and was scattered about evenly during the solar system's creation ...

Many many types of ore bodies and mineral veins on Earth are only found on Earth, not anywhere else in the solar system ... these formations require the circulation of water over many millions of years ... this only occurs on Earth, and certainly not on asteroids ...

Mathing ... assuming 1 ppm, we'll need 31 short tons of asteroid (about a semi-truck's worth) to get one ounce of gold ... for comparison, an Apollo Moon mission runs 50 tons ... so we'll need a Saturn V rocket fueled and manned for a single ounce of gold ... $1,700 ... and this isn't loose material like Moon rocks ... this is solid iron, shiny like stainless ... we'll need cutting torches there ... looking over all the other mining equipment I think we'll need another Saturn V ...

Spending a septillion dollars to return a quintillion dollars is a loser ... by 999 hexillion dollars ... cheap if we re-elect Joe Biden ...

 

[westwall]

I've been studying mathematics Prof. Charles Dodgson's writings ... from fourth-dimensional existance to chemical chirality ... it's all mid-19th Century stuff but still effective ...

The good professor wrote under the pen-name "Lewis Carroll" ...

I have always liked Robert L Forwards Sci fi.

 

[Resnic]

Why would really, really cheap iron, nickel and gold cause inflation?

The more you have of something the less it's worth. It's a simple concept. Scarcity creates value.

 

[ReinyDays]

The more you have of something the less it's worth. It's a simple concept. Scarcity creates value.

Yeah ... that's understandable if we used gold as money ... more gold in the supply chain, the less the money's worth ... so using the 'gold standard' for money means the government has to tightly control the supply of gold ... thus there's no free market to flood with extraterrestrial gold ...

Iron and nickel are plentiful on Earth ... separating the two is what's expensive, and that's true for the asteroid iron as well ... the only economy here is building things on the asteroid ... the fusion power units we'll have by then should melt that stuff super quick ... and we'll have backyard cyclotrons spinning gold out of straw ...

 

[Robert W]

The increase in gold supply will drive the dollar to nothing; it would be worth far less than even today's value.

The Dollar is not based on gold. It would make gold very low priced.

 

[Toddsterpatriot]

The Dollar is not based on gold. It would make gold very low priced.

He's an idiot.

 

[DudleySmith]

The Dollar is not based on gold. It would make gold very low priced.

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