How Much Money Have Humans Created - A Visual History

Tyler Durden's picture

The dollar amounts are so staggering, that simply telling you how much money humans have created probably wouldn’t convey the magnitude. However, The Money Project's data visualization in this video, allows us to relate numbers in the millions, billions, and trillions to create the context to make it more understandable.

Source: Visual Capitslist

Starting With Context

The median U.S. household income of $54,000 is a number that most people can relate to. It’s enough money to save up to buy a car, or maybe even a house depending on where you live.

Multiply that income by eight, and that number is now big enough to count as being in the top 1% of earners. People in the “one percent” make at least $430,000 per year.

Famous celebrities and businesspeople have fortunes that dwarf those of many “one percenters”. Actor George Clooney, for example, has a net worth of $180 million. Meanwhile, author J.K. Rowling is estimated to have a net worth of roughly $1 billion according to Forbes.

Zuckerberg takes things to a whole new level. His net worth worth is $53 billion, thanks to the value of Facebook stock. Lastly, Bill Gates regularly tops the “richest people” lists with a wealth of $75 billion – though lately that number has been a little higher based on stock fluctuations.

However, even the wealth of the richest human on Earth is not enough to get up to our unit of measurement that we use in the video: each square is equal to $100 billion.

The World’s Money

Some of the world’s biggest companies take up just a few squares with our unit of measurement. ExxonMobil for example has a market capitalization of about $350 billion, and the world’s largest public company by market capitalization, Apple, is at about $600 billion.

The total of the world’s physical currency – all coins and bills denominated in dollars, euros, yen, and other currencies – is about $5 trillion.

Meanwhile, if we add checking accounts to the equation, the number for the amount of money in the world goes up to $28.6 trillionaccording to the CIA World Factbook. This is called “narrow money”.

Add all money market, savings, and time deposits, and the number jumps up to $80.9 trillion – or “broad money”.

But that’s nothing compared to the world of Wall Street.

Wall Street

All stock markets added together are worth $70 trillion, and global debt is $199 trillion.

That’s all impressive, but the derivatives market takes the cake. Derivatives are contracts between parties that derive value from the performance of underlying assets, indices, or entities. On the low end, the notional value of the derivatives market is estimated to be a whopping $630 trillion according to the Bank of International Settlements.

However, that only accounts for OTC (over-the-counter) derivatives, and the truth is that no one actually knows the size of the derivatives market. It’s been estimated by some that it could be as high as $1.2 quadrillion, and others estimate it could be even higher.

There are many financial critics who worry about the risk that these contracts pile onto the global financial system. With the sheer size of the derivative market dwarfing all others, it’s understandable why business mogul Warren Buffett has called derivatives “financial weapons of mass destruction”.

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DontWorry's picture

People will lose faith in that stuff someday soon.  Central banks have aboused the peoples trust and lost their confidence.

NidStyles's picture

The answer is none, because paper fails the storage of value condition of money.

tmosley's picture

How much money have humans created?

$12,169,778,189.0000000001

The fraction of a cent was created in a particle accelerator. The rest is a result of the creation of the blockchain. Fiat isn't money. It's currency, at best.

oops's picture
oops (not verified) tmosley Sep 28, 2016 8:57 PM

The Zionists stand to make more money with the Sept 11 Bill, the DEATH KNELL for America. https://goo.gl/oehIgG

Four chan's picture

thats not money thats fiat.

All Risk No Reward's picture

It's not even fiat, it is an IOU based on the solvency of bankrupt banks sitting in your banking accounts.

And yes, FRNs are "backed." Everyone needs to stop parroting ignorance to appear smart to the nescient.

What is it backed by? Debt paper.

All the notes out there... mortgages, car notes, credit card bill, etc... ALL REQUIRE FRNs TO PAY THEM DOWN OR ELSE THE BANKS TAKE YOUR CHIT.

When the banks take your chit because you don't have "valueless" money, well, don't bitch because your home must've been "valueless" to pay "valueless" money for it.

If only serfs could think!

"How fortunate for governments that the people they administer don't think."
Adolf Hitler

Row Well Number 41's picture

Introducing one Quadrillion:

1,000,000,000,000,000,000,000,000

Stuck on Zero's picture

This talk of derivatives is a big joke. It's a betting game between banks. I bet my wife $90 quadrillion that AAPL would fall to $80 this year. Is that an instrument of financial mass destruction?

itchy166's picture

When your wife tries to collect, yup...

Dwain Dibley's picture

That's really funny.  No money "stores value", value is subjective, it cannot be "stored" and that, isn't the purpose of money.

The only value money has is in its use and acceptance as a medium of exchange, and as a unit of account, and its only worth is in what it can buy.  That holds true for all money, regardless its material construct.

Besides, the article conflates money and credit.

There are only $1.46-Trillion in U.S. legal tender money in circulation around the globe, with about $280-Billion of that circulating within the U.S..  All the rest, erroneously referred to as money, all the trillions listed above, is bankster generated asset backed, debt based private credit, not legal tender, not money.

The greatest accomplishment of central banking and banksters, was convincing the people that the bank's debt to them, was their money.

MONEY

itchy166's picture

You are splitting hairs.  The legal tender, sound money, or whatever you want to call it has the same purchasing power as the credit.. In the marketplace they are identical  

Dwain Dibley's picture

2008 proved money and credit are not the same thing when over $60-Trillion of bankster credit !POOF!ed out of existence bankrupting nations and millions of people.  Bankster debt based private credit is not your money, it's the bankster's I.O.U. money that they don't have and cannot get, and that's one of the primary reasons they're trying to get cash banned.

The only ones who benefit from the conflation of money and credit are the issuers of credit with no money.

Neither the Fed or the banks possess the legal authority to create the nation's legal tender money, and they don't. What they do create is asset backed, debt based privat credit, denominated in dollars, and it's not our money, it's an obligation to pay in the nation's money, and it is not part of the actual money supply. The U.S.G. has absolutely no legal obligation to make good on any of the Fed and bankster's promises to pay. They proved that point in the 1930's and again in 2008.

You see, ours is a Legal Tender Monetary System. This means that our money is not defined by Ludwig von Mises, John Maynard Keynes, Murray Rothbard, Milton Friedman, Joseph Salerno, G. Edward Griffin, Paul Krugman, Mike Maloney, Peter Schiff, Ron Paul or any other economist or talking head. Nor is it defined by Austrian Economics, Keynesian Economics, Monetarist Economics, Capitalist Economics, Socialist Economics, Modern Monetary Theory, the Federal Reserve, the U.S. Banking system, conventional wisdoms, esoteric blather or what people may use. It means our money is defined by law. And nowhere in law does it designate or even acknowledge Fed and bank generated asset backed, debt based credit as being a legal tender, or money, or currency, or a medium of exchange, it is 100% private issue, Bank Debt, even when it is generated by the Fed.

There is no money in any deposit account of any type anywhere in all of westernized banking. They are all credited accounts, bookkeeping entries denoting the amounts of actual money owed to account holders, they are all bank debt. Whatever cash a bank has in its vault, is all the money it has (been that way for well over 600 years of banking and it hasn't changed). A bank's debt to you, is not your money.

Okboss's picture

Where are the upvotes?  Maybe your post was too long.  Fiat currency is not money and your point is extremely well taken - what people 'think' of as money, is nothing more than an accounting digit on a banks computer.  100% ephemeral.  Those computer digits aren't even currency, only notes and coins are.  Holy Moly, how have they fooled 7 billion people for so long????  

If I had to nitpick it'd be the asset backed part.  Asset backed my ass! Money is created from nothing whatsoever by bankers but the rest of us must trade our labor for it.  And they've made sure that we don't get too much of it when we do.  The 'working poor' I believe is the term used.  Brought to us by the friendly folks that own governments, banks, corporations and, wait for it. . . . YOU! 

 

Multi's picture

Have you ever pay anything with a credit card?

"Money is created from nothing whatsoever by bankers but the rest of us must trade our labor for it"

"FIAT is created from nothing whatsoever by THE CENTRAL BANK but the rest of us must trade our labor for it".  I've fixed it for ya!

Dwain Dibley's picture

Geez, you really are retarded.

Banksters don't create 'money' you thick twit, they create debt based credit.

THE CENTRAL BANK does not create FIAT, moron.

LEARN TO READ DUMBASS

Multi's picture

"[The Fed does not] possess the legal authority to create the nation's legal tender money"

"And nowhere in law does it designate or even acknowledge Fed and bank generated asset backed, debt based credit as being a legal tender, or money, or currency, or a medium of exchange, it is 100% private issue, Bank Debt, even when it is generated by the Fed."

Quickly from the wiki:

"The Coinage Act of 1965 states (in part):

United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes and dues. Foreign gold or silver coins are not legal tender for debts.

— 31 U.S.C. § 5103"

 

"It is 100% private issue, Bank Debt, even when it is generated by the Fed" *Facepalm*, never go full retard.

Dwain Dibley's picture

okboss, you appear to lack reading comprehension skills.

"The Coinage Act of 1965 states (in part):

United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes and dues. Foreign gold or silver coins are not legal tender for debts.

— 31 U.S.C. § 5103"

That's the legal tender dumbass, the official money of the United States.  It's what the U.S.G. owes in payment of its debts and what the banks owe to their deposit account holders.

Now slick, do you see Fed and bankster generated debt based private credit listed in that law defining the U.S. legal tender?

You're *Facepalming* your own retarded lack of reading comprehension skills, you incognizant twit.

Dwain Dibley's picture

Sarcasm noted.  That's OK, but it's no reason to blame me.  And they don't have to fool 7 billion people, just a few million progressive, tech savvy westerners who believe tweeting makes them smart. 

I suppose the point will be made crystal clear when all of what's left of western civilization is converted into the lifestyles of Greece and Argentina.

Mustafa Kemal's picture

" has the same purchasing power as the credit."

Yes, but it is an illusion. Once the illusion disappears, then they do not.

Its kind of like when the hard drive goes out and you lose all your data.

 

The Jubilee year evidently is about debt forgiveness.

Four chan's picture

maybe even the jews (((every bankowner))) have forgotten gold is money..

Multi's picture

"No money 'stores value'"

Do you have a savings account? Do you storage gold? you just blow your entire paycheck during the month?

Dwain Dibley's picture

Multi, a 'savings account' is a bank administerd accounting record of how much money the bank owes the account holder, it does not contain any money.

Storing gold is not 'storing value', it's storing gold.  And any portions of an unspent paycheck, is not 'storing value', it's just money, or credit unspent.

 

Yen Cross's picture

   How much DEBT has Mankind created?

FX223's picture

Oh if I had all the money in the world...

JackT's picture

Everyone's gonna get a ride on the screwmobile

King Tut's picture
King Tut (not verified) JackT Sep 28, 2016 8:18 PM

Is that like a Tesla?

Restorative_Ally's picture

If anyone invented a new way to trade goods and services, and promised to take only 2 to 3 precent a year from your account, you might wonder where it went or who got it.

With inflation of currency, they promise to take 2 to 3 percent per year, and people applaud. Scholars teach pupils the wisdom of losing 2 to 3 percent per year, and if you ask where it went, well... what are you implying?!? You must be a conspiracy theorist! Are you stupid?  

Row Well Number 41's picture

"If anyone invented a new way to trade goods and services, and promised to take only 2 to 3 precent a year from your account, you might wonder where it went or who got it."

Sounds like PayPal

 

 

Gold...Bitches's picture

or in other words "Get ready for a surprise!"

maplesyrup's picture

Its ok, it'll make a great story when people read that 100 years from now. Unless of course we all destroy eachother first when this shit they created goes KABOOM!

Yen Cross's picture

  Haven't you heard? Elon Musk is going to save us all from the next extinction[ Central Banking] level event  ;-)

delacroix's picture

mars is beautiful, this time of year.

Mustafa Kemal's picture

Lets hope he personally goes.

illuminatus's picture

Gold is the currency of kings.

Silver is the currency of the gentry.

Debt is the currency of slaves.

WeTheSheeplez's picture

Gold is the currency of kings.

Silver is the currency of the gentry.

Barter is the currency of peasants.

Debt is the currency of slaves.

 

Fixed it for you, you forgot one.

Cardinal Fang's picture

Like so much pixie dust

VWAndy's picture

 Im thinking the only thing you can measure in fiat is fraud? Wierd hu.

effendi's picture

People cannot visualize sums of money when they talk about billions, trillions or quadrillions.

However if you say to someone that a hundred dollar bill is nice and a $10,000 wad of those is a lot of money they can understand. Then tell them that a stack of $100 that a man can carry is 3 million dollars they can see that as a fantastic amount of money. Then tell them that if they were to have a supply of those 3 million dollar stacks on their front porch and to start laying those stacks one after the other out the front drive and down the street (returning each time to their front porch for another stack at a brisk walk) then if they started at 9am on Monday and did not stop then at what exact time would they finish laying out the quadrillion dollars to cover the "value" of derivatives? The answer is not until Thursday (in 6 BILLION years from now). The debts and liabilities are far beyond what can be covered.

ebworthen's picture

The only things that humans really create are food and children.

The rest are trappings of existence, and "money" is now without meaning.

Notice how TPTB are fucking over Us and our Children?

How do they think that will end?

Yen Cross's picture

  I could give two shits less about me Ebbie. It's the children that are being stolen from, even before they EXIT the womb.

 I'm not talking about these FSA Millennels, Baby Boomer tards.

 Future productivity is being stolen from productive individuals, and they don't have a say in the matter.

 The Earth is a finite place, and there's NO WAY debt is going to grow us out of this bubble.

  It's NOT about population or lack of resources. it's unadulterated> Greed.

  Oil is cheap because hidden inflation, has outstripped demand.

  That being said *** I'll be shorting aud/usd very soon. You're welcome

Mustafa Kemal's picture

"It's the children that are being stolen from,"

Indeed

Clock Crasher's picture

Is a Trump presidency going to stop high/hyper inflation?