GOOD

How Much Money Is In The World?

It’d take you 2.5 million years to count that high.

How much money is in the world? At first, it seems like an out-of-the-blue question a precocious kindergartner would ask their teacher. Unless that teacher moonlit at the Federal Reserve, they probably wouldn’t have the answer on hand. On Monday, a listener asked the same question to the financial gurus at Marketplace and they came up with an answer: $80,000,000,000,000 (if you count up the zeroes, that’s $80 trillion).

Photo by Nic McPhee/Flickr.


According to Jacob Kirkegaard, senior fellow at the Peterson Institute for International Economics, the number of U.S. dollars in circulation is a number known by the Federal Reserve as M0. “[It’s] essentially the number of notes and coins in circulation,” Kirkegaard told Marketplace. “For the United States, that number on the Federal Reserve website is somewhere in the vicinity of $1.5 trillion.”

According to Kirkegaard, on a global level, the number of notes and coins in circulation totals about $5 trillion. But that only accounts for a small segment of the world’s money. The vast majority of money in the world sits on digital bank ledgers in savings accounts, money-market accounts, and checking accounts. According to Marketplace, the global total is in excess of $80 trillion.

For some perspective:

— $80 trillion dollars is about four times the amount of the U.S. National Debt.

— The height of a stack of 80,000,000,000,000 one dollar bills would go from the Earth to the moon and back about 11 times.

— A trillion seconds is equal to 2,560,000 years.

Money
via Jim Browing / YouTube

Jim Browning is a YouTuber from the UK who has an amazing ability to catch scammers in the act.

In this video, he responds to a scam email claiming he bought a laptop by breaking into the scammer's computer. In the process he uncovers where the scammers work, their banking information, and even their personal identities.

"I got an 'invoice' email telling me that I had paid for a $3800 laptop," Browning writes on his YouTube page. "No links... just a phone number. It's a real shame that these scammers emailed me because I was able to find out exactly who they were and where the were."

Keep Reading
Business
HG B / YouTube

Danielle Reno of Missouri left her car running and it was stolen by thieves. But she wasn't going to let her car go so easily.

For 48 hours this owner of a pet rescue tracked the charges being made on her credit card. Ultimately, she found her car at a local Applebee's, and then went after the thieves.

Keep Reading
Communities
via Bossip / Twitter

Sens. Elizabeth Warren and Bernie Sanders took aim at former New York City Mayor Michael Bloomberg onstage at Wednesday's Las Vegas Democratic debate, likening the billionaire businessman to President Donald Trump and questioning his ability to turn out voters.

Sanders began by calling out Bloomberg for his stewardship of New York's stop and frisk policy that targeted young black men.

Keep Reading
Politics