It's not wrong. It's just that a billion dollars wouldn't be worth anything.
@Commander Peanuts, they are wrong, currency isn’t on the gold standard anymore so the value of gold would drastically drop but no one would gain any currency
@Commander Peanuts, ooor....it would be worth nothing.
@The nOly One, But there would be tons of bling to go around.
Huge gold chains for everyone
@The nOly One, natural resources can never lose value, it just can maintain.
@freakazoid, umm yeah anything and everything can lose value if the market is flooded. Gold is expensive because of its scarcity. If everyone had access to it then it’d lose value at a dramatic rate
@Natural Sarcasm , you're talking about the market in there everything loses value and gains. In real life, its a whole different story. Additionally, they wont be stupid enough to let everyone have gold and destroy its value.
ex. about he gains lose value, in the forex market money value goes up and down, at the end of the day 50 bucks is 50 bucks, it may not worth nothing in some places but in others it will. the riches game is different from ours non rich people
@freakazoid, the metals in Psyche 16 are ESTIMATED at 10 Quintillion dollars, the global economy is 75.5 trillion in estimated value so yes it would completely flatline the world economy
@freakazoid, dude, $50 isn’t even literally $50 bucks at the end of the day. Values of goods and currencies fluctuate all the time. Where do you live where you haven’t seen massive changes in gas prices (as an example) due to change in supply?
@Ewok612, oh yes, but go to a different country with those 50 bucks see what happens.
@freakazoid, (presuming they do not take the currency in question) You go to a money changer and swap it in based on an up to date exchange rate.
@freakazoid, not sure what you mean by “in real life”. Also I wasn’t referring to currency exchange. I was saying that, that much gold put into any economy would destroy its value. Example: German Hyperinflation in 1920’s
@freakazoid, you’re conflating value with a physical thing. Value is determined and changed constantly.
And when everyone is super!!!!! No one is.
@Ferrari Fireball, well, we already live in a world where everyone is "special"...
@Ferrari Fireball, such a dark line but it’s absolutely true.
Isn’t this the plot of an Austin Powers movie?
@A Blunt Object, I like gooollld.
@A Blunt Object, you mean preposition h?
Or Operation Ass Cream
everyone cant be rich. if someone is rich, someone else needs to be poor. otherwise, what gives perspective to the ones that are rich?
Wouldn’t this technically work, but only for like a day? Or would the inflation be immediate?
@Kyle Ron, it would decrease the value of gold to near nothing, and the gold price on the stock market would become worthless and people who held in that stock would loose a lot of money. but manufacturers would get to lower their prices of their electronics.
@Z0IDBERG, Thank you, that explains it.
Just saying if it lands in my backyard ain't nobody gonna know, well unless I die or may be massive
Pardon the pun, but this would usher in a golden age for electronics manufacturing.