Quiz: All the Money in the World

[tgotch]

Saw this in the newspaper this weekend.

If all the global money supply (M3, which includes more than currency) in the world was divided equally among all the people in the world (6.8 billion), how much would each person receive?

 

[ziggy29]

Enough for hyperinflation to immediately make it worth a lot less? That's my guess.

 

[calmloki]

$350 per each?

 

[Meadbh]

Global Money Supply Data and Comparison for 2008 :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

According to this site, in 2008, global M3, converted to US$ on July 11, exceeded $60.2 trillion. Therefore, the global M3 per capita should be approximately

$60,000,000,000,000
__________________
68,000,000

......which is $8823.53 each.

 

[W2R]

That's not enough for me to ER on time, that's for sure!

BUT, there have been long periods of my life in which I didn't have that much, and it would have seemed like a fortune.

 

[freebird5825]

Global Money Supply Data and Comparison for 2008 :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

According to this site, in 2008, global M3, converted to US$ on July 11, exceeded $60.2 trillion. Therefore, the global M3 per capita should be approximately

$60,000,000,000,000
__________________
68,000,000

......which is $8823.53 each.

So where does the handout line form ?

 

[RonBoyd]

And if a frog had wings...

 

[mickeyd]

among all the people in the world (6.8 billion),

68,000,000

Shouldn't that be 6,800,000,000?

 

[aaronc879]

Global Money Supply Data and Comparison for 2008 :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

According to this site, in 2008, global M3, converted to US$ on July 11, exceeded $60.2 trillion. Therefore, the global M3 per capita should be approximately

$60,000,000,000,000
__________________
68,000,000

......which is $8823.53 each.

That's more than i've had for 2/3 of my life. That doesn't mean i'd like to go back there.

 

[Meadbh]

Shouldn't that be 6,800,000,000?

I think you're right, in which case it's only $8.82 each.

 

[Westernskies]

I think you're right, in which case it's only $8.82 each.

lunch money.

 

[W2R]

($60,000,000,000,000 / 6,800,000,000)

= ($60,000 / 6.8)

= $8,823.53

Pretty big lunch.

 

[youbet]

That's not enough for me to ER on time, that's for sure!

BUT, there have been long periods of my life in which I didn't have that much, and it would have seemed like a fortune.

I think I could RE on $8823 M3, given all the other investments stay the same...... But then again, I only understand M3 from this Wiki definition:

If Im interpreting this correctly, I'd lose my cash, checking account, money market and CD's. Right now, that's only about 5% - 6% of the total. Perhaps I don't understand correctly and I'd also lose bonds and bond funds if I lost M3 and that would make RE impossible.

<H3>Measures of money

The money supply is the amount of financial instruments within a specific economy available for purchasing goods or services. The money supply is usually measured as three escalating categories M1, M2 and M3. The categories grow in size with M1 being currency (coins and bills) and checking account deposits. M2 is currency, checking account deposits and savings account deposits, and M3 is M2 plus time deposits. M1 includes only the most liquid financial instruments, and M3 relatively illiquid instruments

</H3>


Edit: I see in the article that they include bonds and other debt instruments with maturitites up to two yrs. I'll have to rethink my "I could still RE without M3 statement" after I go estimate what percentage of the $$$ in my bond funds would qualify as M3 by that definition.

 

[RonBoyd]

I think you're right, in which case it's only $8.82 each.

Let me make sure I understand this. Everyone would have the same Net Worth? That would, certainly, make for interesting times (the Chinese Curse). I believe I would enjoy being a witness to that.

 

[freebird5825]

($60,000,000,000,000 / 6,800,000,000)

= ($60,000 / 6.8)

= $8,823.53

Pretty big lunch.

Let's all go to the Waldorf Astoria http://www.waldorfnewyork.com/dine-in-style/restaurants.cfm
and see how fast we can burn that...
Peacock Alley

You want fries with that ? $10 gets you there.

Oh, who's buying BTW?