Posted on 08/31/2019 9:57:10 AM PDT by infool7
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.
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’.
the Fed is the central banking system of the United States of America.
btw - read the upper left side in “Millions of dollars”
Sure is.
I don't know where everyone is getting the
idea that this asteroid is full of gold.
AFAIK it's iron and nickel.
7
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.
Do you have anything more substantial than an opinion piece?
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.....
Thanks. RT and the same source as in the opinion piece. LOL!
And how do you slow down a trillion pound rock at a million miles per hour?
That momentum cost makes the asteroid unusable.
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
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
A glut of metal would only depress the market for that particular metal.
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
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.
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
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.