Archived TIL The total value of all of the world's coins and banknotes is roughly $5 trillion (noosfeer.com)
submitted ago by carlos_ojeda
Posted by: carlos_ojeda
Posting time: 4.9 years ago on
Last edit time: never edited.
Archived on: 2/12/2017 1:51:00 AM
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61 upvotes, 3 downvotes (95% upvoted it)
Archived TIL The total value of all of the world's coins and banknotes is roughly $5 trillion (noosfeer.com)
submitted ago by carlos_ojeda
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[–] gtaftwin 1 point 7 points 8 points (+8|-1) ago (edited ago)
[–] [deleted] 0 points 3 points 3 points (+3|-0) ago
[–] SaneGoatiSwear 0 points 1 point 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.
[–] SilverBanana 0 points 1 point 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.
[–] 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 points (+6|-0) ago
[–] wattmar 0 points 5 points 5 points (+5|-0) ago
Nice link, thanks
[–] 3827401? 0 points 3 points 3 points (+3|-0) ago
and I owe more than twice that to paramount for copy right infringement
[–] bio_matosis 0 points 3 points 3 points (+3|-0) ago
It's all an illusion :-/ I feel disappointment now, what am i going to do with my life
[–] Ankle_FLasher 0 points 3 points 3 points (+3|-0) ago
Warren Buffett, damn.... well said
[–] 3dk 0 points 1 point 1 point (+1|-0) ago (edited ago)
What in the flying fuck are derivatives even? I've barely heard of them other their role in the financial crisis of 2008. I had no idea it was such a huge thing.
The way I understand it, they are nothing more than bets? So the thing with the most value in the world economy isn't industry, or services, or real estate, but these abstract bets? Is this where the money from central banks goes? I thought it was supposed to actually end up in the economy to promote growth? It all sounds inflated and completely detached from reality to me. I hope it won't all come crashing down in my lifetime.
[–] tb20 0 points 1 point 1 point (+1|-0) ago
That's why you buy and hold assets.
[–] demi_god_dylan 0 points 1 point 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.
[–] 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
[–] demi_god_dylan 0 points 1 point 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.