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[–] Rellik88 0 points 1 point (+1|-0) ago 

The rest is all made up.

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[–] Ankle_FLasher 0 points 3 points (+3|-0) ago 

Warren Buffett, damn.... well said

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[–] gtaftwin 1 point 7 points (+8|-1) ago  (edited ago)

the high-end estimate for the value of all derivatives contracts is as high as $1.2quadrillion
That is huge!!!!

[–] [deleted] 0 points 3 points (+3|-0) ago 

[Deleted]

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[–] SaneGoatiSwear 0 points 1 point (+1|-0) ago 

correct. the bank of international standards put out a valuation of around 729 trillion dollars notional.

realistically, they've got around 5 trillion in, like, cash they could pull out - - theoretically, since that's the same amount as there is money on earth...

which is a serious mind fuck.

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[–] SilverBanana 0 points 1 point (+1|-0) ago 

Derivatives are counted from notional, not actual money changed. While large market, it is not this huge.

Most people do not understand how notional works.

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[–] 3833330? ago 

I don't see any reason to add that last sentence other than to be a condescending douche. You could just say "for those who don't know how this works..."

[–] [deleted] 0 points 6 points (+6|-0) ago 

[Deleted]

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[–] wattmar 0 points 5 points (+5|-0) ago 

Nice link, thanks

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[–] bio_matosis 0 points 3 points (+3|-0) ago 

It's all an illusion :-/ I feel disappointment now, what am i going to do with my life

[–] [deleted] 1 point 1 point (+2|-1) ago 

[Deleted]

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[–] carlos_ojeda [S] 0 points 4 points (+4|-0) ago 

Especulation.... If they want to "cash" their money, they wouldn't be able to

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[–] Invisible32 ago 

They aren't even close to that. Not even one trillion.

[–] [deleted] 1 point 1 point (+2|-1) ago 

[Deleted]

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[–] carlos_ojeda [S] 0 points 1 point (+1|-0) ago 

Them, as the people from the website?

[–] [deleted] 0 points 1 point (+1|-0) ago 

[Deleted]

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[–] carlos_ojeda [S] 0 points 4 points (+4|-0) ago 

I miss-read your comment. No, I don't work for them. I am an active user of the website.

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[–] demi_god_dylan 0 points 1 point (+1|-0) ago 

And it's all effectively worthless because currency as we know it is a human construct, and has no true value or purpose outside of us. However still interesting to know just how much money really is out there roughly speaking.

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[–] carlos_ojeda [S] ago 

Definitely! I always thought that the "physical" money would be a much more part of the "actual" money that is out there

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[–] demi_god_dylan 0 points 1 point (+1|-0) ago 

Why would there be more cash bill or coin, with computers such as they are and international trade being as advanced as it is, it's necessary to move a lot of money quickly, which is hard to do when most of it is cash. Also keep in mind that a lot of our money as a species is tied up in buildings, possessions of any and all kinds, stocks and savings bonds, and a whole lot more, so 5 trillion is probably on the very low side if all of that is accounted for as well.

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