Hey Sup Forums, noob at economics here. I should probably ask /biz/ but this is my home so.
What happens if a meteorite containing precious metals and such falls to earth? Who gets to claim it and how does that money affect the economy?
I mean, hypothetically, a meteorite worth millions/billions falls in your back yard, is it yours? Or can the government just claim it? And where does this new money come from if you've got the same amount in the economy, but more commodities?
Bump
>a meteorite worth millions/billions falls in your back yard, is it yours? Or can the government just claim it?
That depends on each countries laws dont you think?
>And where does this new money come from if you've got the same amount in the economy, but more commodities?
...Any asteroid containing enough of an amount of a metal that it would affect the world market price (down), would be so big that life on earth would cease to exist if it crashed in the first place.
It's yours and it affects the economy the same way as any natural resource
It wouldn't affect the economy in any great way.
Somebody would buy it from you at a price you just make up, kinda like ancient relics.
...that is if you find it and don't let the feds know. Otherwise, they are gonna take that shit from you to make sure it isn't anything like that jody hillbilly from Creepshow got into.
If they catch you selling this shit without their approval it would likely lead to problems as well.
so... it's ultimately up to the feds and rightfully so. There is no telling what you are fucking with.
Do governments really have laws about stuff that falls from space?
>any asteroid containing enough of an amount of metals that it would affect the world market price (down), would be so big that life on earth would cease to exist if it crashed in the first place
Got me there. But say some new metal or stone is found, maybe the government or army wants it, or just for hypothetical sake something that expensive does fall from the sky, that's gotta end real bad for the economy right?
But if it falls in YOUR backyard, how is it rightfully theirs? Surely there aren't laws again space?
I know that if you dig shit up its not yours though
nah, they are just gonna take that shit from you when they can.
Phil Schneider had a lot of metals that weren't recognized on this planet. He would pass them around a room and say that it was this kind of stuff. When he died the feds took it all.
>jody hillbilly from Creepshow
Just looked this up lol, didn't think about any living organisms though. Again, what if the government or army wanted the organism to study, can you make them pay for it, or not sell it at all?
I imagine you'd probably end up shooting yourself in the back of the head though..
They wouldn't want you selling it to China. They are gonna figure out what it is and keep it if it suits them.
If it's just gold or some other known precious metal and isn't covered in flesh eating microorganisms... they will give it back.
Cheers for the info man appreciate the chat, reading up on phil Schneider now
>I imagine you'd probably end up shooting yourself in the back of the head though..
yeah, I wouldn't pressure them too much if they took it.
Can someone claim it? Depends where you live? In the USA? No.
Value would be determined by how much of it there is. It would be a finite resource which can be obviously observed.
no problem man.
I would probably be afraid to mess with it. I'm a wimp like that though. Cosmic shit weirds me out like I expect everything to end like a lovecraft story.
>asking Sup Forums for factual information
Sounds like a great way to explain being in possession of so much gold. Oh this gold, it fell from space.
>I mean, hypothetically, a meteorite worth millions/billions falls in your back yard, is it yours? Or can the government just claim it?
Not sure. It depends on the country I guess. You'll have to look up local laws.
>how does that money affect the economy?
The economy improves
Depending on your countries laws either the government will seize it or it will go to the owner of whoever's land it ended up on
There are professional meteorite hunters just like there are professional fossil hunters.
Shady motherfuckers who get in and out quick.
In America if it falls in your yard it's yours. Keep it, sell it, shove it in your pee hole.
If it falls on federal land however (90% of meteorites here are found in/around federal land) the government owns it.
>Shady motherfuckers who get in and out quick.
That's because it's usually finders keepers. Can't let others know what your doing or you might get beaten to the punch.
It's the same with underwater treasure hunters.
How do they know when/ where meteorites are going to land?
How much do they make doing this?
But that's wrong.
If it lands on your property it's yours. Gobment can't do shit.
Look it up, some guys car was hit by one. Sold the rock, sold the car made a fortune.
he made a fortune after they came and examined it.
If it's nothing new or just known metals... yeah, it's yours.
some stuff I found. In my state it's legal as long as you don't dig and aren't on government property.
Fucking watch meteorite men. It's a 2 season discovery channel show. They explain this in the opening to every episode.
one time while I was looking for arrowheads a guy found a chrystallized vertebrae as big as my fist.
The outside was bright orange, the inside was red, with the very middle being clear chrystal. The guy did some research and it said that if you crushed the clear chrystal up it may taste like salt. The crazy bastard did it and talked me into doing it too. It was like pure salt.
Probably some monster sea creature... cray cray.
crystal... not like a girl's name chrystal. I'm a potato.
What do you guys do with this stuff, just keep it?
Can't it be sold? Cool findings though anons
Dude you hide that rock that shit is yours. You tell everyone to fuck of your land that rock violated NAP
>don't dig
So anything under ground on your property isn't yours? Can't you just claim it was on the surface
If the meorite falls in your property in most countries it's yours, pretty sure government can use the social danger card and shit but legally speaking, in most countries, it's yours.
Money is merely a means of exchange, for something people want.
The amount of money is always raising because of stupid government action, ever heard of inflation? Quantitative easing?
Given the fact the amount of precious metala in the meteorite is enough to make a dent in the amount of precious metal traded you could probably fuck up the price of the commodity itself, for example, back in the 16-17 th century Spain took so much silver from their south american colonies, raised so much the amount of silver in the market, that the price dropped tremendously, it dropped so much that the more silver they took, the poirer they got.
That marked the start of the end for the metalism era.
Price = rarity and perceived value by the market.
Hearty kek user
>And where does this new money come from if you've got the same amount in the economy
LMAO
Btw central banks are literally printing money..what is QE, what is inflation
>disturbing arrowheads
20$ says this nigger has bad Indian juju in his home.
Yeah badly worded I agree. But what's the government going to do, borrow more money from whoevers printing it or use tax dollars / revenue?
If a meteor manages to maintain a size like that after hitting your backyard. Your house and that entire block is fucked mate.
F-U-C-K-E-D.
Can you even into physics?
Government is the one that prints money m8.. Central banks are state owned
Just imagine the energy of an object travelling in excess of 20 km/s kek, it will fuck some shit up in it's way.
I found an iron one in my garden when testing a metal detector
I thought it was cool, but then I started getting paranoid touching it, the thought of it floating around in space spooked me so I hurled it
That's what i'm saying. Could you fucking imagine the impact crater. Dude's backyard would have a lovely little hole.
Most Asteroids burn up in the atmosphere from the sure friction of the air against it due to the speeds they travel at OP. What makes it to the surface is usually very clean dust, if the meteor had enough metal in it (which was a rare so dense and heavy metal, because you imply wanting to sell that shit) that you could in fact sell it. You wouldn't have a home anymore.
Now lets imagine for a moment you have a massive Texas ranch. It'll fuck up a good piece of your land but yeah, maybe then. But people will know about it in a god damn hurry.
Yeah look I'm real high and just didn't really think about this in depth before posting.
Why does it spoop you out? Id keep it for the same reasons you ditched it
>Your house and that entire block is fucked mate.
We don't all live in cities leaf. And as a cityboi you completely fail to grasp just how big a backyard some auzzies have
i'm a quarter injun.
I never sell them.
Yeah... there are a few stipulations though.
You cant be on a burial mound. Most are known to the government. Camp sites (where you find the most stuff anyways) are open game though. The no dig rule applies to everything.
I just wait until the tractors plow the fields and it rains.