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Metal Asteroid Hurtling Through Space Could Wipe Out...U.S. Debt!
Bill Whittle Now ^ | 8/31/2019 | Bill Whittle

Posted on 08/31/2019 9:57:10 AM PDT by infool7

A metal asteroid worth $10,000 quadrillion, hurtling through space, makes construction of a massive orbital space station substantially cheaper. At least one company is already pitching a plan for a Von Braun Gateway Station housing some 1,500 people in orbit. The resources on the single asteroid, 16 Psyche, is not only enough to build the station, but to wipe out the U.S. national debt thousands of times over.


TOPICS: Astronomy; Science
KEYWORDS: 16psyche; asteroid; asteroids; astronomy; catastrophism; debt; elonmusk; falcon9; falconheavy; science; spacex
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To: Steve Van Doorn
The fed loans money to your banker that loans you the money.

That's not true. The Fed is currently lending $140 million to banks at the discount window. $35 million is primary credit, $105 million is seasonal credit. Hardly enough to fund all loans in the US.

Here>>> https://www.federalreserve.gov/releases/h41/current/h41.htm

The primary issue with the fed is how they get their money to loan too the bankers.

The Fed is a Central Bank. Central Banks can create money out of thin air.

61 posted on 08/31/2019 7:30:32 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: infool7

Company XYZ may own mineral rights to huge oil deposits, but, there would be many other such XYZs that have their own rights to their own oil deposits.

But still, an asteroid made of gold that would dwarf all the known gold in the world, would devalue all of the known gold and whatever gold comes from the huge asteroid. Why is water so cheap? Oil is not cheap, but it’s not rare and is plentiful, and there are huge numbers of people who were made super-rich with oil, but, the more oil that gets into the markets, the lower the prices for the oil and its by-products. Same with gold or silver or any other ‘rare’ metal. But, get in while you can, because, eventually, a huge gold asteroid is going to land and turn gold into ‘sand’.


62 posted on 08/31/2019 8:04:36 PM PDT by adorno
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To: Toddsterpatriot

the Fed is the central banking system of the United States of America.


63 posted on 08/31/2019 8:09:45 PM PDT by Steve Van Doorn (*in my best Eric Cartman voice* 'I love you, guys')
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To: Toddsterpatriot

btw - read the upper left side in “Millions of dollars”


64 posted on 08/31/2019 8:16:13 PM PDT by Steve Van Doorn (*in my best Eric Cartman voice* 'I love you, guys')
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To: Steve Van Doorn

Sure is.


65 posted on 08/31/2019 8:17:03 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: adorno
See my post 59

I don't know where everyone is getting the

idea that this asteroid is full of gold.

AFAIK it's iron and nickel.

7

66 posted on 08/31/2019 8:17:11 PM PDT by infool7 (Your mistakes are not what define you, it's how gracefully you recover from them that does.)
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To: Steve Van Doorn
Read post #61.....

That's not true. The Fed is currently lending $140 million to banks at the discount window. $35 million is primary credit, $105 million is seasonal credit. Hardly enough to fund all loans in the US.

67 posted on 08/31/2019 8:19:05 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: Toddsterpatriot

https://www.oregonlive.com/opinion/2012/05/chinas_secret_it_owes_american.html


68 posted on 08/31/2019 8:44:59 PM PDT by Tai_Chung
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To: Tai_Chung
Thanks for the link.

Do you have anything more substantial than an opinion piece?

69 posted on 08/31/2019 9:05:12 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: Toddsterpatriot

https://www.govinfo.gov/content/pkg/BILLS-110hconres160ih/html/BILLS-110hconres160ih.htm


70 posted on 08/31/2019 9:14:01 PM PDT by Tai_Chung
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To: Toddsterpatriot

https://www.rt.com/usa/467593-trump-china-antique-debt-bonds/


71 posted on 08/31/2019 9:22:43 PM PDT by Tai_Chung
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To: Tai_Chung
Thanks.

No mention of face value or interest rates. Based on the sparse info and weak math in the opinion piece, I'd be surprised if the real number was as high as $100 billion.

I found this.....

https://fraser.stlouisfed.org/archival/1343/item/467830

72 posted on 08/31/2019 9:25:24 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: Tai_Chung

Thanks. RT and the same source as in the opinion piece. LOL!


73 posted on 08/31/2019 9:26:57 PM PDT by Toddsterpatriot (TANSTAAFL)
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To: infool7

And how do you slow down a trillion pound rock at a million miles per hour?

That momentum cost makes the asteroid unusable.


74 posted on 09/01/2019 4:33:20 AM PDT by TheNext (Leader of the Happy People of the World)
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To: TheNext

The title is misleading.

We don’t have to slow it down.

It’s not going anywhere,

it’s in the asteroid belt

between Mars and Jupiter.

I see 16 Psyche like a proven

oil/gas reserve sitting on the books

of an oil company, only the company is

the United States of America.

7


75 posted on 09/01/2019 6:01:12 AM PDT by infool7 (Your mistakes are not what define you, it's how gracefully you recover from them that does.)
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To: M Kehoe
What kind of metal? Iron, uranium, gold. ?

I really don't know, not sure anyone does.

16 Psyche was apparently discovered in 1852

probably due to its size but

its basic composition was

only recently discovered .

7

76 posted on 09/01/2019 6:20:18 AM PDT by infool7 (Your mistakes are not what define you, it's how gracefully you recover from them that does.)
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To: infool7

A glut of metal would only depress the market for that particular metal.


77 posted on 09/01/2019 7:23:21 AM PDT by GingisK
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To: GingisK

Yes, I don’t doubt that.

My thought is that it is

an asset on the books of anyone

that can defend their claim to it.

7


78 posted on 09/01/2019 7:53:21 AM PDT by infool7 (Your mistakes are not what define you, it's how gracefully you recover from them that does.)
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To: infool7

Even then demand is finite. Flood the market the prices plunges. Then it becomes not worth the effort. Mining asteroids is a good idea, but it can become a very bad idea.


79 posted on 09/01/2019 8:26:36 AM PDT by discostu (I know that's a bummer baby, but it's got precious little to do with me)
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To: discostu

The value, actually usefulness

since materials such as gold and diamonds have very little utility

of what’s in 16 Psyche

is much higher than rocks on the moon or other planets

which are also in deep deep gravity wells making them that much

more difficult to exploit and I am doubtful that

at any point in the near future the

resources of 16_Psyche will actually be recovered

especially in any significant quantity to effect today’s markets but

now the reason to go into space has dramatically changed

it is no longer ONLY for the high ground but for materials that can be

used both in space, outside of our gravity well and here on earth.

Before this discovery space was merely deadly dangerous and interesting.

Now the entire ballgame has changed and

the race is back on again.

Interesting times indeed.

7


80 posted on 09/01/2019 9:02:37 AM PDT by infool7 (Your mistakes are not what define you, it's how gracefully you recover from them that does.)
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