Wondering about that gold flash crash at the Globex open on Sunday night? Maybe this has something to do with it.
NASA has officially launched a mission to study an asteroid with more than $10,000 quadrillion worth of precious metals on it. The asteroid is literally so “rich” that it would make everyone on Earth a billionaire if its haul was divided equally, according to The Independent.
The asteroid is named Psyche 16 and it was first noticed all the way back in March of 1852. It’s 124 miles wide and is set to be the “primary focus” of NASA’s mission, which will take place in August 2022.
NASA’s spacecraft would arrive at the asteroid in early 2026, according to the report.
“Unlike most other asteroids that are rocky or icy bodies, scientists think the M-type (metallic) asteroid 16 Psyche is comprised mostly of metallic iron and nickel similar to Earth,” NASA said.
The asteroid is located between Mars and Jupiter and is believed to be the “remnants of a protoplanet destroyed by ‘hit-and-run collisions’ when the solar system formed.”
A team in California helped create a temperature map to better understand the asteroid’s surface properties.
The team discovered the surface of the asteroid was made up of “at least” 30% metal.
“The findings are a step toward resolving the mystery of the origin of this unusual object, which has been thought by some to be a chunk of the core of an ill-fated protoplanet”, one researcher said.
“We think that fragments of the cores, mantles, and crusts of these objects remain today in the form of asteroids. If that’s true, it gives us our only real opportunity to directly study the cores of planet-like objects,” concluded assistant professor of planetary science and astronomy at Caltech, Katherine de Kleer.
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I’ll donate my share to Stucky so he and his mother can get out of PRNJ.
Isn’t it amazing how they can just make things up out of thin air and have the media parrot it as if it were true?
They can assay an asteroid from 250 million miles? Really?
“The asteroid is literally so “rich” that it would make everyone on Earth a billionaire if its haul was divided equally, according to The Independent.
The asteroid is named Psyche 16”
It’s equally amazing they named it Psyche.
We all will get to pay to lasso it and bring it down, but only the type of people who were partying with Mr. and Mr. Obama will share in the riches.
It was named that in the 1800’s.
It’s right in the name: Psyche
The noise and the narratives become more absurd by the day. And financial markets are all being driven by these noisy B/S narratives. It’s helpful at times like these to stand back and discern what is real and what is fake . Truth is nothing has changed in the big picture – fiat currencies , especially the US $ ,are all on their deathbed, real interest rates are negative and stocks and bonds are at bubble extremes. Personally I do not buy the economic recovery lie ,nor any government published numbers on economic indicators. The only reason gold and silver were hammered is due purely to the fraudulent and totally fake price manipulation methods applied in the futures exchanges. Good article to explain all this hogwash –
https://www.bullionstar.com/blogs/ronan-manly/gold-price-smash-in-paper-but-physical-demand-on-fire/
I hope they give the tech to some of the mining companies I own that can’t seem to find gold right beneath their feet.
Maybe your mining companies should take some tips from the guys on “Gold Rush”. They seem to find the gold almost everywhere they look. It’s right there on the tube, so it must be true.
Beyond preposterous. But the sheeple buy it hook, line and sinker.
I thought that ZeroHedge was an economics website?
Wouldn’t the effect be that the price of precious metals would collapse due to a sudden glut, rather than everyone would become a billionaire?
In economics, that’s known as “static” analysis — in other words, it doesn’t include the direct consequences (what you described) that result from the hypothetical distribution to everyone.
Brings to mind the line from an old western movie:”If the world were made of gold,men would fight over a handful of dirt”
Listen to DS.
Laughing at “divided equally”. Even if this story were true, yahright.
Some chunks are more equal than others.
Yes. We will be lucky if we’re thrown the micro kibble chunks, but since we will own nothing, it ain’t gonna happen. No chunks for us.
Let me do some math for you dummies so you may know what they are really telling you here.
A) Stated par value of the metals, net of mining and transportation costs:
$10,000,000,000,000,000 (ie 10 quadrillion)
B) Reported value in 2021 of world population:
7,900,000,000
C) Divide A by C:
$1,265,823
That’s about 1.25 MILLION. So to make everyone “ALIVE” a BILLionaire, 99.9% of today’s humanity, or 7.89 billion souls, will be mysteriously leaving us before the precious cargo arrives.
Maybe that asteroid is the big one that is going to solve that problem.
Inflation would be big time…
10,000 quadrillion is what the article says you tard. They could/should have said 10 quintillion instead.
Haha I will own it. Was not too early in the morning to attempt math but was too early to attempt reading for comprehension when a large figure was oddly stated. Like me bragging my salary was a millions a year — * in pennies.
OK but I would estimate the processing costs at about 9,999 quadrillion — so there ;-).
Yeah I hate when economic/science articles do that… just say the best fitting number! It’s like they are deliberately trying to throw a monkey wrench into reading comprehension heh.
I’m gonna take my 1/100,000 million dollars and buy myself something nice.
“Quintillions” are relatively meaningless to the average Joe, whereas quadrillions are familiar enough to those who follow the financial press.
The proceeds will just end up in the Oligarchs hands.
Someone doesn’t understand the basics of supply and demand.
If there is that much then it seems it would go down in value. If gold were everywhere would it be worth as much as it is now?
Next we’ll be launching a space tow truck to drag one of those rocks back to our planet. Why wait for it to fall when you can push it.
http://www.cointalk.com/attachments/cat-with-gold-teeth-73457-jpg.398385
“it would make everyone on Earth a billionaire if its haul was divided equally”
It won’t because the haul will be divided among the richest of the rich, just like everything else.
Yep.
“One Asteroid Heading Towards Earth …”
Please hit. Please hit. Please hit.
Don’t worry. We all have it comin’.
I always root for the asteroid, comet, meteor, etc.
The thing about value is that someone has to want something bad enough. While there may be lots of iron and nickle in that asteroid, there is no shortage of iron or nickle here on earth. We already got more than we need.
“If everybody’s a (fill in the blank) ______, then nobody’s a ______.
It is as simple as this. Assuming it were economically feasible to put the asteroid in Earth’s orbit and mine it (it is neither feasible or economical). What if I could snap my fingers and turn all of the sand on Earth into gold. Therefore, it becomes much more plentiful than iron. Would gold be worth more or less than iron?
The Aztecs had so much gold they made children’s toys out of it. An African king distributed so much gold to countries he visited he destroyed their economies. A little bit of history and a little bit of economics goes a long way.
Maybe I’m being optimistic, but I’d see its greatest value to be if it would smack right the **** into us.
Could clean up a whole world of troubles in short order.