$10,000 quadrillion.....



NASA is eyeing up a nearby asteroid that contains enough gold to make everyone on Earth a billionaire.

Psyche 16 is nestled between the orbits of Mars and Jupiter and is made of solid metal.

As well as gold, the mysterious object is loaded with heaps of platinum, iron and nickel.

In total, it's estimated that Psyche's various metals are worth a gargantuan $10,000 quadrillion.

That means if we carried it back to Earth, it would destroy commodity prices and cause the world's economy – worth $75.5 trillion – to collapse.

We've known about Psyche 16 for a while, but its potential to cause havoc on Earth was recently touched upon by a veteran miner.

Scott Moore, who heads up EuroSun Mining, said the sheer amount of gold in the asteroid threatens to throw the gold industry into chaos.

"The 'Titans of Gold' now control hundreds of the best-producing properties around the world," he told Oil Price.

"But the 4-5 million ounces of gold they bring to the market every year pales in comparison to the conquests available in space."

Nasa is launching a mission to probe the asteroid in summer 2022. Dubbed the Discovery Mission, it will arrive at Psyche 16 around 2026.

But bringing back an asteroid of this value could completely wipe out our global economy.

Fortunately, the space agency is taking the trip for scientific purposes and isn't planning on conducting any mining.

It reckons 16 Psyche is a survivor of violent hit-and-run collisions between planets which were common when the solar system was forming.

That means it could tell us how Earth’s core and the cores of the other terrestrial planets were formed.

Two space mining companies – backed by big name celebs – are gearing up for a gold rush after asteroid ownership was made legal in 2015.

Deep Space Industries and Planetary Resources each have their eyes on the 2011 UW158 asteroid which is twice the size of the Tower of London and worth up to $5.7 trillion.



https://www.foxnews.com/scienc...-earth-a-billionaire

This message has been edited. Last edited by: Sigmanic,

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Psyche 16

120 miles in diameter and a mass of (2.41±0.32)×1019 kg.. That's gonna leave a mark.

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That's gonna leave a mark.

Everyone on earth could have gold teeth and other assorted bling!

Clearly somebody doesn't understand the laws of supply and demand in regards to commodity prices.

Actually, gold would become cheaper than lead!

We'd be shooting gold ammunition.

quote:

Originally posted by Sigmanic:

quote:

That's gonna leave a mark.

Everyone on earth could have gold teeth and other assorted bling!

I see it now. "Asteroid" grills!

quote:

Originally posted by 220-9er:
Clearly somebody doesn't understand the laws of supply and demand in regards to commodity prices.

If everyone is a billionaire, then being a billionaire will make you middle class.

Correct your misleading subject line, please, and let's think before we post, guys. Your chosen subject line needs to accurately reflect the content of your post.

I'm going to start coming down hard on this stuff. Every news site you go to pulls this click-bait horse shit with these misleading subject lines, and we are not going to have that here. We're just not going to have it. We're not going to participate in the "News items for the clueless" program.

Is this the comet Para is waiting for?

quote:

Correct your misleading subject line, please, and let's think before we post, guys. Your chosen subject line needs to accurately reflect the content of your post.

Sorry Para, I simply quoted the title from the article. I'll try to refine it a bit!

NASA should rename the probe to “Prospector”

Psych

I don't know that it would destroy the global economy, since no one uses gold to back the currency.

It would certainly depress the price of gold. It would have some larger economic effects, but I doubt they would be catastrophic.

Assuming we survive the impact.

Might raise heck with some of the preppers' plans to survive an asteroid impact and use gold as their way out of the apocalypse.

If this thing actually did hit us, it's unlikely that humans would survive. The comet/asteroid that hit the Yucatan peninsula in Mexico 65 million years ago was only about 6 miles in diameter and an order of magnitude less dense. It wiped about half of all genera on the plant, including all large (>40 lbs) animals.

This does bring up an interesting question - would there be a kind of cost effective way to mine something like this? With AI advancing in leaps and bounds, it seems like it's only a matter of time before someone tries. I imagine that "space gold" would command a higher premium than earth gold for a time, too, application depending.

rather than making everyone rich, it would lower the value of all the gold currently in hand.
It's just like diamonds are common as dirt, but Debeers et all control the market to keep them "valuable".

It would be a boon to the electronics industry. Gold is the best conductor there is, and it doesn't corrode. A lot of electronics gear does use it today--plentiful cheap gold would just increase its use.

flashguy

I’m finally gonna get me a gold plated AK.

They could replace all those reserves that aren't in Ft Knox anymore, and no one would be the wiser.

They might need a smelter.