How much money is on Earth at one time on any hours of daylight?
and ten points to whoever can explain to me WHY we have to have gold ingots to back up the money
Answers: I had a honest look round for the answer to this question and it seems the consensus is.. not a soul knows.. for the simple reasons is money is made and destroyed every minute of the daytime.. so it is constantly changing.
Also to add to the problem, even if you could lift a snippet from time to work out how much is on the planet.. conversion rates go up and down.. some conversions are $1 to 1million (currency)
It would be interesting to see if anyone could work this out... starred this question!
Too much than the human see should have to deal next to
Gold backs up our currency systom. Each Dollar note is a permit that represents $1 worth of gold in Fort Knox. If we didn't enjoy this our currency would be worthless to other countries.
On the entire earth.billions upon billions. In the US alone the number is something like 1000 billion. We are not on a gold ingots standard anymore..our money is backed by faith..
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Answers: I had a honest look round for the answer to this question and it seems the consensus is.. not a soul knows.. for the simple reasons is money is made and destroyed every minute of the daytime.. so it is constantly changing.
Also to add to the problem, even if you could lift a snippet from time to work out how much is on the planet.. conversion rates go up and down.. some conversions are $1 to 1million (currency)
It would be interesting to see if anyone could work this out... starred this question!
Too much than the human see should have to deal next to
Gold backs up our currency systom. Each Dollar note is a permit that represents $1 worth of gold in Fort Knox. If we didn't enjoy this our currency would be worthless to other countries.
On the entire earth.billions upon billions. In the US alone the number is something like 1000 billion. We are not on a gold ingots standard anymore..our money is backed by faith..