Hi anonymous,
When it comes to counting how much money there is on a global scale... it's a little tricky, because determining what exactly is money is a little subjective.
If you're talking about cold hard cash (aka narrow money) the total value is S$48 trillion (according to the CIA Factbook). This includes coins, notes, and checking deposits (locally, we call it a current account, which we withdraw money from using an ATM).
That aside, there's also broad money which covers stuff like savings accounts, fixed deposits, and pension schemes. All of which adds up to a whopping S$123.3 trillion!
BUT wait. There's more.
The world is also currently in debt.
Yep.
This debt is accumulated by governments, corporations, and households. All of which adds up to S$345 trillion or roughly 322% of the global GDP. In case you're wondering, the majority of it is held by governments and non-financial corporations (aka institutional units which produce goods and non-financial services).
Besides that, there is also stuff like real estate and property — which also has monetary value right?
I mean, just look at the August 2020 HDB BTO prices, it's almost half a million for a 4-room flat in Geylang!
"So... how much," you ask?
All of the world's real estate is estimated to be worth about S$382.7 trillion.
It's a lot of zeroes so far, right? Well... what we've only talked about are tangible assets. And I haven't even addressed stuff like gold and silver, which are assets that have financial worth too.
But besides the tangible stuff, there're also intangible assets like stocks, bonds, and cryptocurrency...
So how much money is there in the world?
Well. It really depends on what you define as money.
Cold hard cash (notes and coins)? S$48 trillion
Broad money (aka money in any form including bank or other deposits + cold hard cash)? S$123.3 trillion
Is it possible for one person to own it all?
For context, Jeff Bezos, founder and CEO of Amazon, and arguably the richest person in the world, currently ONLY has a net worth of S$269.7 billion.
Source: Associated Press
If we're just looking at accumulating cold hard cash. He would have to increase his net worth by 178x in order to literally own all the cash in the world.
And that's just "Cold Hard Cash", imagine if he were to go for Broad Money...
So, no. I don't think it's possible.
Although... looking at the rate Bezos is increasing his net worth, you might think that he's trying to~
Hi anonymous,
When it comes to counting how much money there is on a global scale... it's a little tricky, because determining what exactly is money is a little subjective.
If you're talking about cold hard cash (aka narrow money) the total value is S$48 trillion (according to the CIA Factbook). This includes coins, notes, and checking deposits (locally, we call it a current account, which we withdraw money from using an ATM).
That aside, there's also broad money which covers stuff like savings accounts, fixed deposits, and pension schemes. All of which adds up to a whopping S$123.3 trillion!
BUT wait. There's more.
The world is also currently in debt.
Yep.
This debt is accumulated by governments, corporations, and households. All of which adds up to S$345 trillion or roughly 322% of the global GDP. In case you're wondering, the majority of it is held by governments and non-financial corporations (aka institutional units which produce goods and non-financial services).
Besides that, there is also stuff like real estate and property — which also has monetary value right?
I mean, just look at the August 2020 HDB BTO prices, it's almost half a million for a 4-room flat in Geylang!
"So... how much," you ask?
All of the world's real estate is estimated to be worth about S$382.7 trillion.
It's a lot of zeroes so far, right? Well... what we've only talked about are tangible assets. And I haven't even addressed stuff like gold and silver, which are assets that have financial worth too.
But besides the tangible stuff, there're also intangible assets like stocks, bonds, and cryptocurrency...
So how much money is there in the world?
Well. It really depends on what you define as money.
Cold hard cash (notes and coins)? S$48 trillion
Broad money (aka money in any form including bank or other deposits + cold hard cash)? S$123.3 trillion
Is it possible for one person to own it all?
For context, Jeff Bezos, founder and CEO of Amazon, and arguably the richest person in the world, currently ONLY has a net worth of S$269.7 billion.
Source: Associated Press
If we're just looking at accumulating cold hard cash. He would have to increase his net worth by 178x in order to literally own all the cash in the world.
And that's just "Cold Hard Cash", imagine if he were to go for Broad Money...
So, no. I don't think it's possible.
Although... looking at the rate Bezos is increasing his net worth, you might think that he's trying to~