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Although it is difficult to estimate the value of all the banknotes in circulation in the world due to their constant change, it is estimated at about 5 trillion dollars.
What would be your share of the "world's money combined" if it were distributed equally among the people of the Earth?
The striking thing is that, this amount of money in circulation around the world is not enough to cover the national debt of the United States, which reached 34 trillion dollars at the beginning of this year.
What is surprising in this context is that the most valuable currency among the 180 recognized local currencies in the world is the Kuwaiti dinar, and its value is equivalent to 3.24 US dollars.
On the other hand, the total of what is known as "broad money", which represents all the money in current and savings accounts and money market accounts; as well as all digital money around the world, this number rises much higher, and is estimated at about 80 trillion dollars.
The world's cash in circulation, estimated at $5 trillion, does not of course include precious metals such as gold and silver. Some experts believe that adding them to the "global wealth" in circulation is necessary. The value of all available silver in 2019 was estimated at $44 billion, while the World Gold Council estimated in 2020 the value of available gold at around $10 trillion.
If we rely on the estimate of the money in circulation around the world after converting it to dollars at $5 trillion. If distributed, how much would be the share of each person on Earth? Calculations made in 2021 showed that the share of the world's monetary wealth for each person on Earth would be $31,000.
What would happen if the world's monetary wealth was distributed among the Earth's population? Economists believe that a sudden redistribution of the world's money would have dire consequences! In this case, the demand for goods and services would immediately double, which would result in a sharp jump in prices, and thus money would lose its value, and no one would be able to benefit from the share in their hands.
Source: RT - https://ar.rt.com/yre3
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