Some_Emo_Chick@lemmy.world to Lemmy Shitpost@lemmy.worldEnglish · 1 year agoNo, his name is Prince.. A Nigerian Prince.lemmy.worldimagemessage-square4fedilinkarrow-up10arrow-down10
arrow-up10arrow-down1imageNo, his name is Prince.. A Nigerian Prince.lemmy.worldSome_Emo_Chick@lemmy.world to Lemmy Shitpost@lemmy.worldEnglish · 1 year agomessage-square4fedilink
minus-squarecontextual_somebody@lemmy.worldlinkfedilinkEnglisharrow-up0·edit-21 year agoIt’s only $207 Million https://www.snopes.com/fact-check/drug-money/ “$1 billion in $100 bills would be 10,000 feet tall – imagine 10 Eiffel Towers stacked on top of each other.”
minus-squaredonut4ever@sh.itjust.workslinkfedilinkEnglisharrow-up0·1 year agoDoes that mean all these rich people have just numbers and there aren’t actual currency that can cover all of it. Let’s say every billionaire wanted to cash out, would there be this much cash in the system at all?
minus-squarestrangematter@feddit.delinkfedilinkEnglisharrow-up0·1 year agoAs of 2020, there were roughly 2 trillion cash Dollars in circulation. source: https://www.uscurrency.gov/life-cycle/data/circulation So yeah, if all billionaires decided to withdraw at the same time, it probably wouldn’t work.
It’s only $207 Million
https://www.snopes.com/fact-check/drug-money/
“$1 billion in $100 bills would be 10,000 feet tall – imagine 10 Eiffel Towers stacked on top of each other.”
Does that mean all these rich people have just numbers and there aren’t actual currency that can cover all of it. Let’s say every billionaire wanted to cash out, would there be this much cash in the system at all?
As of 2020, there were roughly 2 trillion cash Dollars in circulation.
source: https://www.uscurrency.gov/life-cycle/data/circulation
So yeah, if all billionaires decided to withdraw at the same time, it probably wouldn’t work.