Mish, you have called for buying gold a few times recently and I generally agree with you on gold and silver. However, the whole concept of asteroid mining scares me away from doing so. What do you think about asteroid mining lowering the value of precious metals?

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awc13
awc13

it costs about $1800 a pound to put something into orbit. i couldn't find anything on costs per pound to bring something back out of orbit to the earth. a pound of gold is 20k in value. if a company was to find an asteroid with a lot of gold in it and proved they had the tech to mine it, the price of gold could decline, so much so that it would not be feasible to mine it

i doubt i will see mining of gold from asteroids in the remaining 30+ years i have left on this earth