NASA to Explore an Asteroid that Could Collapse the World Economy

True or Fake?

News of NASA launching a mission to study a super-rich mineral asteroid emerged earlier this year. The iron in 16 Psyche alone would be worth $10,000 quadrillion that could easily wipe out the total global debt, which stands at $60 trillion. Some suggest this would collapse the world economy.

16 Psyche is one of the most mysterious objects in our solar system, and scientists could soon be getting a close-up view thanks to a newly confirmed Nasa mission.


It’s value would be large enough to destroy commodity prices and cause the world’s economy – worth $73.7 trillion (£59.5 trillion) – to collapse.


Now, it is a 130 mile (200km) wide chunk of metal, made up of iron, nickel and a number of other rare metals, including gold, platinum and copper.

Lindy Elkins-Tanton the lead scientist on the Nasa mission and the director of Arizona State University’s School of Earth and Space Exploration, said: ’16 Psyche is the only known object of its kind in the solar system, and this is the only way humans will ever visit a core.


Dr Elkins-Tanton has calculated that the iron in 16 Psyche alone, would be worth $10,000 quadrillion (£8,072 quadrillion).

Assuming the market for asteroid materials is on Earth, this could cause the value of precious metals to plummet, completely devaluing all holdings including those of Governments, and all companies involved in mining, distributing and trading such commodities.

Ultimately, it could lead to the collapse of the entire economy. 


Speaking to Global News Canada, Dr Elkins-Tanton said: ‘Even if we could grab a big metal piece and drag it back here … what would you do?

‘Could you kind of sit on it and hide it and control the global resource — kind of like diamonds are controlled corporately — and protect your market?

‘What if you decided you were going to bring it back and you were just going to solve the metal resource problems of humankind for all time? This is wild speculation obviously.’

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Reported By

Shivali Best

Reporting Organization/website

Reported On

January 17, 2017

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