All the evidence you need that our current economic model is f***ed.

https://www.unilad.com/technology/space/nasa-psyche-16-value-gold-quintillion-942521-20250706

One asteroid, if brought in and harvested, would make gold and platinum so plentiful that they'd become worthless. And people view that kind of abundance as a bad thing. It would wipe out vast amounts of "wealth".

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Reason10 · 70-79, M

Well as a matter of fact, the diamond center of the world is South Africa. And there are armed guards posted at the diamond mines. It would be very easy to destroy an economy if the market were flooded with those precious stones.

whowasthatmaskedman · 70-79, M

@Reason10 Small point of order. Actual Diamonds can now be laboratory made and sell for something like 10% of the cost of the natural product. There is a small industrial market for these things as well as a quiet jewellery market..(Google it) But as a basis for international currency, the alchemists dream of creating gold would really through a spanner in the works..😷

Reason10 · 70-79, M

@whowasthatmaskedman I just remember reading in the Wall Street Journal about the armed guards at the diamond mines.

whowasthatmaskedman · 70-79, M

@Reason10 Its quite so and there is more besides. The mines are a real "Big Brother" operation, with employees families being overwatched to see they arent spending above their means..Those armed guards also provide a private army to keep away attacks from local criminal gangs..😷