Hmm, if everyone was equally wealthy and we all had say £10 each, money would be fought for but if everyone had £1000000 money would be worthless surely

In my defence, I was posting from my iPod Touch. The calculator on it doesn't actually go any higher than 999,000,000, so that kind of fucked me up.

On the other hand, 50$ is still completely incorrect.

Completely.

The latter is true but is no different to the former; if everyone had the same amount of money, it wouldn't matter if it was £10 or £1000000 - it would all be worth the same.

I learnt that from the Patrician in The Colour of Magic.

The Patrician is a great man from whom to learn. Er, about some things.



The question of how much money there is in the world is much more difficult than in sounds. For example, the quantity of money is not related to wealth. In terms of loose cash, perhaps half of all US$ are physically overseas. This cash, wherever it is (and you must understand not all of it is supposed to be in circulation at a time) is known as the M0 money supply, and amounted to $908.6 billion in July 2009. Were this equally distributed amongst the 307,212,123 known Americans alive that month they'd all have about $3000 in their pockets and mattresses.

M1 accounts for M0 plus all the money in American's checking accounts, other checkable accounys and traveller's checks. $1,655.6 billion.

M2 is M1 plus all of the money held in money market funds, savings accounts and small certificates of deposits. $8,326.8 billion.

M3 is M2 plus all the large certificates of deposits. The federal reserve no longer tracks M3 as an economic indicator as of March 2006, when it was worth $10.3 trillion.

In 2009 there were perhaps US$8.3 trillion in the world. This in no way reflects the wealth of the United States.

I've already done the one commerce paper needed for my degree, and I never want to see that shit^ ever again in my life plox.