J002E3 is the name of this object. It has been tentatively identified as the S-IVB third stage of the Apollo 12 Saturn V rocket. This booster is currently one of the largest pieces of Space Debris in Earth orbit.
How close are we to the Kessler Effect taking place? According to Donald Kessler it has already started. It is documented that some satellites have changed orbits without any input from telemetry or from the satellites propulsion systems. The only possible answer must be debris strikes. - Christopher Lee Jones
Hypervelocity impact testing to show what a BB would do at 9,000 mph.
Orbital speeds start at 17,000 mph.
(Hypervelocity testing at the Johnson Space Center in Houston)
International Space Station
Astronauts have reported hearing debris skipping off of their home, the ISS. The astronauts need to be careful they don't rip or tear their space suits or gloves when using clench points on the outside of the Space Station since it has been struck many times by Orbital debris and has many sharp and rough edges as a result.
Canadarm
Recently, astronauts on the ISS discovered the Canadarm had been pierced by a meteor or space debris. It's functionality wasn't affected.
(Sample of hypervelocity debris impact testing at the Johnson Space Center in Houston)
Handshake Agreement
Space has no natural boundaries or international law. There is not an authoritative body. Countries have a handshake agreement to deorbit satellites that are no longer being utilized to avoid further debris.
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