And if everyone in the US owned a personal copy of Action Comic #1 (Superman’s debut in 1938) then we could all sell them on ebay next week and be wealthy.
Or maybe Supply and Demand doesn’t work that way ...
Someone doesn't understand the basic economic concept of "supply and demand."
Does the Author of this piece understand the basic Economic concept of Supply and Demand?
Rarity is expensive, an overabundance of anything is cheap.
Does whoever wrote the headline to this article have no understanding of economics? Supply and demand? If billions of dollars worth of minerals are brought to Earth flooding the market they will not be be worth billions of dollars anymore.
And supply and demand will have no effect on the price, right?
We’ve all said the same thing. :D
Even leaving aside the obvious supply and demand misunderstanding - unless everyone on Earth takes a spaceship to the asteroid to dig their own billion dollars worth of gold, the only way they will become fantasy billionaires is if government takes the gold from actual miners and redistributes it to them in return for their eternal political support.
Stupid! If everyone on Earth had a billion dollars, a loaf of bread would cost $4 billion.
And if there were that much gold, it would be cheaper than marshmallows.
Yes, there is an awful lot of stupidity in the world, and much of it is writing articles.
If there were that much gold it would be practically worthless. It’s scarcity makes it valuable.
Golds value is in its rarity. Introduce that much gold and people will pay to have it hauled off.
If a rare resource becomes common, its value drops accordingly...
There was a time Aluminium was considered precious, they they were able to industrialize its production...
No. If everyone had a ton of gold it would be worth very little.
Let’s move there and fret about the price of water.
Err... the author surely means to say the asteroid has the potential to wipe out the savings of anyone who is heavily invested in precious metals. On the plus side we can all have a better life from the technologies that can be accessed by a plentiful supply of metals that are currently too rare to be used for those purposes.
If this comes to reality, everyone who short-sell gold will be rich. Cuz the prices are going to end up in the crapper.
Without a picture this is fake news
Very interesting.
But, I think that if we suddenly got that much gold literally falling out of the sky, the price of gold would go way down.
Ah, not a great idea; According to the late motivational speaker Charles “Tremendous” Jones. He dreamed that he and everyone else had each won a million $$$! When he awoke, nothing worked. No electric, no water, no police, no buses, no groceries, no farmers working.....nothing! Nobody was working anymore. Everybody was rich. That would not be good. Food for thought.