NASA headed towards golden asteroid worth $10,000 quadrillion

[Szef]

you guys don't know shyt about economy lol

[Eff Pandas]

If they decide to sell it, it will flood the market, and supply and demand will push the price down.

Imagine if a billion Bugatti Chirons were made. The company will sell them for much cheaper as they want to sell them. Anyone who got one will see there's lose value as there will be many cheap one they can get.

If you kept it secret, you could not sell it.

If NASA did bring it back then the US will own it, and can control how much is sold will will dictate the price some what buy storing it and keeping it off the market. And only releasing a bit at a time.

You might then see a slow depreciation.

Idk man seems like more gold = a downward trend in price like with anything else, but a world wide going outta business sale seems a bit much. Than again I did get a C- in macro econ so wtf do I know.

[Eff Pandas]

you guys don't know shyt about economy lol

Break it down. I'm curious what this would look like if it were to happen & I imagine it will eventually cuz there is bound to be a ton of natural resources in space & eventually we'll figure out how to retrieve them.

But I for one don't think myself or my descendants are getting rich cuz Nasa got rich, but I also don't think the economy crumbles cuz we found a sh^tton of natural resources either.

[D4thincarnation]

Idk man seems like more gold = a downward trend in price like with anything else, but a world wide going outta business sale seems a bit much. Than again I did get a C- in macro econ so wtf do I know.

It would, but it depends on how much is on the market.

Like OPEC, they help regulate the price of oil, if the price of the barrel is rising they produce more and that lowers the price.

Countries that produce the gold will be hurt, and they will be a drop off.

But that can be controlled if they control how much more goes on the market.

[llll]

If there was an asteroid with 10k quadrillion gold...

then by its very existance, that same amount of gold would no longer be worth 10k quadrillion.

With an influx of that much gold, gold when then become worth as much as nickel.

[Szef]

Break it down. I'm curious what this would look like if it were to happen & I imagine it will eventually cuz there is bound to be a ton of natural resources in space & eventually we'll figure out how to retrieve them.

But I for one don't think myself or my descendants are getting rich cuz Nasa got rich, but I also don't think the economy crumbles cuz we found a sh^tton of natural resources either.

like i said in my other post, it would cause hyperinflantion. the reason gold is valued so much is its rarity.

check this out

https://en.wikipedia.org/wiki/Price_revolution

just imagine having that much gold available. it wouldn't be a form of currency anymore, it would be used as a building material like steel or iron.

[Eff Pandas]

like i said in my other post, it would cause hyperinflantion. the reason gold is valued so much is its rarity.

check this out

https://en.wikipedia.org/wiki/Price_revolution

just imagine having that much gold available. it wouldn't be a form of currency anymore, it would be used as a building material like steel or iron.

Is gold a currency? It feels like its just something, like other things, that have value & its worth is deemed what someone will buy it for & what someone is willing to sell it for. Just like a million other things. If I take a lil slice of gold down to Popeye's they ain't gonna give me 9 bowls of Cajun Rice & $5 back.

But yea I get the rest. If you got x gold then gold is worth y, but if you know got x gold + z gold then gold is gonna be y minus something to revalue it based on its decreased value as a rarer asset. Thats just basic sh^t doe. If we found some huge stockpile of oil tomorrow the price of oil is gonna go down. If whatever that thing is in cellphones thats some mineral or w/e gets found in abundance somewhere then the price of Iphones is going down.

Isn't this just some supply & demand type sh^t & not know the world economy is gonna collapse type sh^t. I know I have problems seeing the economy going to sh^t over something like too much gold. More good seems good to me.Lets get some more silver & oil & w/e else. Would seem to be more like a time of prosperity where more mfers could build themselves a gold house or get dope ass grills then we need to prepare for end times.

[Szef]

Is gold a currency? It feels like its just something, like other things, that have value & its worth is deemed what someone will buy it for & what someone is willing to sell it for. Just like a million other things. If I take a lil slice of gold down to Popeye's they ain't gonna give me 9 bowls of Cajun Rice & $5 back.

But yea I get the rest. If you got x gold then gold is worth y, but if you know got x gold + z gold then gold is gonna be y minus something to revalue it based on its decreased value as a rarer asset. Thats just basic sh^t doe. If we found some huge stockpile of oil tomorrow the price of oil is gonna go down. If whatever that thing is in cellphones thats some mineral or w/e gets found in abundance somewhere then the price of Iphones is going down.

Isn't this just some supply & demand type sh^t & not know the world economy is gonna collapse type sh^t. I know I have problems seeing the economy going to sh^t over something like too much gold. More good seems good to me.Lets get some more silver & oil & w/e else. Would seem to be more like a time of prosperity where more mfers could build themselves a gold house or get dope ass grills then we need to prepare for end times.

i never said world economy's would collapse. it wouldn't.at least not right away. but i'm more than sure that it would take a major hit on the worlds economy and that worlds economy would need some time to adjust. years if not decades. a lot of countries have gold reserves. usa has the most gold which has the value of over 310 billion.now compare that to what that asteroid is worth. wars would get started over this. at first. but then...


..gold would be worth what iron is today.

that is if any of us survived the nuclear wars

[jreckoning]

like i said in my other post, it would cause hyperinflantion. the reason gold is valued so much is its rarity.

check this out

https://en.wikipedia.org/wiki/Price_revolution

just imagine having that much gold available. it wouldn't be a form of currency anymore, it would be used as a building material like steel or iron.

Gold has a lot of great qualities especially in its ability to not corrode or rust.

I think more realistically than mining an asteroid, since there is gold in seawater in the oceans, if they can figure out a cheaper way to extract from there that's probably what will happen.

Gold isn't the easiest thing in the world to mine or refine. It takes a lot of energy and lots of materials and manpower in addition to its scarcity.


Gold serves as collateral in a way when countries banks borrow money although no government backs their currency with gold.

With an influx of gold (in which there can be silver and platinum in it ) I think they would be scrambling for something else as a store of value/collateral and there would definitely be some trying times for the markets until they did.

[////]

At first you think that if we ever began mining it the price of gold would plunge to that of dirt -- but that doesn't factor the distance required for transport. Even if the supply is practically infinite the time it takes to deliver to industry/consumers would make it more finite than Earth gold for the foreseeable future.