Joined Sep 2006
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Status: Oh yeahhh :)
|1,409 Posts
I got very interesting questions in my brain this morning... how much money are in the world right now. Cash and on bank accounts. Have you any ideas about this or any information?
I got very interesting questions in my brain this morning... how much money are in the world right now. Cash and on bank accounts. Have you any ideas about this or any information?
Josef
Ignored
Cash and deposits wont add up to anywhere near the total amount of wealth, I'd hazard a guess that it's less than a couple of percent. You've got real estate, Stocks, Bonds and other stuff too... even if I could give you a figure what would it actually mean? A dollar or its equivalent can buy differing amounts of stuff depending on the country you decide to spend it in.
Definitely an interesting one for you to keep looking in to.
I got very interesting questions in my brain this morning... how much money are in the world right now. Cash and on bank accounts. Have you any ideas about this or any information?
Josef
Ignored
There is around 829 billion us dollars in circulation (hand-held US dollars).
Household net worth 54000 billions (54 trillions).
Govt. Debt 14000 billions (14 trillions).
So there is around 1% US cash available vs electronic money... This is very different to many other countries and getting a whole world calculation on this is impossible as everything changes from day to day...
Majority of these 829 billions are outside of US though...
US is spending 44% more than they are getting in though...
Its actually that bad, yes...
Its like kids playing monopoly...
Joined Sep 2006
|
Status: Oh yeahhh :)
|1,409 Posts
Thanks for answers, guys. Really interesting question...
Lets make it more simple - how much cash are in the world. Every government knows how much money did the print. Now lets convert them all to USD and find a sum.
Thanks for answers, guys. Really interesting question...
Lets make it more simple - how much cash are in the world. Every government knows how much money did the print. Now lets convert them all to USD and find a sum.
Ignored
Are you referring to just cash ie something physical or cash + bank deposits ie physical money + money that exists electronically?
We live in a debt based monetary system. For every dollar in a bank account there is a dollar of debt somewhere. There is a small amount of base money in the system but that is dwarfed by the amount of credit money created by commercial banks. The amount of money simply depends on peoples desire to take on debt.
I got very interesting questions in my brain this morning... how much money are in the world right now. Cash and on bank accounts. Have you any ideas about this or any information?
Josef
Ignored
Lots... I think I remember reading somewhere though that something like 95% of it is on computers and not in "physical" cash.
I got very interesting questions in my brain this morning... how much money are in the world right now. Cash and on bank accounts. Have you any ideas about this or any information?
Josef
Ignored
In the whole world? Not sure, but I'd bet there is more debt owed than there is money in existance to pay it. And there will be even more money (and more debt) in circulation next year too...
New money is created when someone signs a loan document at a bank.
Borrowing is what creates money as banks can lend many multiples of what they actually have on deposit. So when you sign the mortgage for your new house the money to pay for it is created at the point of borrowing. It's a great deal for the banks, they can lend you what they never had and then charge you interest on it. And in some cases, if you don't continue to pay the interest on the money that didn't exist until you borrowed it then the bank gets to take the real property too.
I now get why the Americans call land real estate. Cause it's actually real...
Are you referring to just cash ie something physical or cash + bank deposits ie physical money + money that exists electronically?
We live in a debt based monetary system. For every dollar in a bank account there is a dollar of debt somewhere. There is a small amount of base money in the system but that is dwarfed by the amount of credit money created by commercial banks. The amount of money simply depends on peoples desire to take on debt.
Ignored
I was talking only about paper money, printed, that exists.
I was talking only about paper money, printed, that exists.
Ignored
Well I have more money in my bank account than in my wallet.
The quantity of physical money just depends on peoples desire to hold physical paper & coins. The central bank/treasury makes enough to satisfy demand. If banks run short or at times like Christmas when there is more demand for cash the central bank supplies it.
The quantity of physical money has no impact on anything at least in developed countries where most people are paid via credits to their bank accounts.
Seems to me this will find your answer:
A. Only Governments of sovereign nations can create money
B. They do so "out of think air"
C. This not only creates all "money" (currency) but also national debt
D. Total the debt of every nation and you have your answer
The US is $15 TRILLION+ in debt. That is money it has already spent. So we know there is at least that amount of "money" just from the actions of one country.
