World's Wealth

[Jay]

I just read that the NME (Enemy?) states that the world has $60 Trillion wealth...

So, if there is $60 trilllion in the world, and the US is $13+ trillion in debt, does that mean that technically, the world is broke. I mean, think about it, if Europe owes another $15 trillion, thats almost $30 trillion worth of debt....so does that really mean that half of the world's wealth is debt? Thoughts?

 

[John McHenry]

That's what it means and thats not what it means. Money are just pieces of paper with value assigned to them by the government.

 

[Jay]

That's what it means and thats not what it means. Money are just pieces of paper with value assigned to them by the government.

Okay we are talking about wealth, not "money". Wealth is talking about the actual gold value.

 

[John McHenry]

Wealth is also fictional what makes a country wealthy?

But your question pertained to dollar amounts so how am I supposed to answer that without talking about Money.

If your talking about wealth then what are you really talking about I could argue that the US is wealthy due to it's military and arsenal it has the ability to overthrow other governments and take what they have?

 

[Chriss]

When you think about it, the only reason why money even exists is because without it we'd live in anarchy because people all around the world have big eyes. World whealt? What? Chill out, world is not going to crash down.

 

[Ryan]

As someone else said, there's a difference between wealth and money. Wealth is all of your assets. So every thing the US owns is part of its wealth. You would have to tabulate the value of every single asset the US owns to calculate it's wealth. From what I read, the wealth of the United States ALONE is somewhere between around $40 trillion and $60 trillion, depending on what your source is, so the world's wealth is certainly higher than $60 trillion. It would be unfathomable to have more debt in the world than there is wealth because if that were the case, where would we be borrowing money and other assets from? I'm sure this is really much more complex a question than any of us can answer with certainty because in the calculation of wealth you are assigning monetary values to things that are not money. What's the entire city of New York worth? You can answer that question with a monetary number but the fact is that by tomorrow it could be worth something entirely different. There's only a little over $1 trillion of actual tangible money in circulation in the US so the rest of our wealth is based on our assets which constantly change in value.