51–60 of 77 posts
Earlier quoted context omitted.
Does that mean that it's not enough to fill his money bin?
Well, the money bin is filled with coins (some notes as filler as well), most of which have never been minted out of gold :D
Earlier quoted context omitted.
(I believe the adverbial form would be "exemplarily", and for daily, "dailily")
Ah, thanks! (Not a native speaker.)
Earlier quoted context omitted.
Ah, thanks! (Not a native speaker.)
Not sure what the GP was on, "exemplarily" is a word but not often used, at least in speech (vs say "in an exemplary manner". Though in this case that doesn't work, perhaps "clear and exemplary" though it doesn't quite mean the same thing). "Dailily" is definitely not ("daily" is both an adjective and adverbial form).
("This is exemplarily clear communication from a government agency.")
So … like $12,000,000,000,000 of gold? I'm not sure if that's more or less than I'd expect.
> I'm not sure if that's more or less than I'd expect. Most people "owning" gold in the world hold paper gold that isn't backed by physical gold. And the paper gold volume traded on a daily basis is several orders of magnitude higher than the physical one. So even if it's less physical gold than one would expect (I didn't check you maths btw), there's "more" to it than just the physical gold.
Earlier quoted context omitted.
(I believe the adverbial form would be "exemplarily", and for daily, "dailily")
Ah, thanks! (Not a native speaker.)
[0]https://www.collinsdictionary.com/ko/dictionary/english/lone...
Around 1/1000 worth of all printed currency in the world. Ppl complain about bitcoin, but fiat is the same.
1) Currency fuels nearly $100 Trillion of global economy. 0.0000% of them transacted in Gold or Bitcoin 2) The fundamental property and requirement of currency is fast, seamless transactions. Don't confuse this with store of value. If you want store of value buy cash/dividend producing assets. 3) It's incredibly dumb and naive (all Bitcoin maximalists and Gold Bugs are) to ask currency to both act as transaction and…
Cash/dividends denominated in falling currency is not a store of value. Ie. a profitable business that takes revenue in and pays out dividends in Turkish Lira or Venezuelan Bolivar. Not an issue for those in west, but not everyone has access to stable currency/markets.
> to ask currency to both act as transaction and store of value (those are opposite requirements).
They are actually complimentary, with one use-case following the other. For anything to be become tradable (used as currency) it must first be valuable. Over time, money that hold their value better become the "better money", as its ability to hold value becomes self-evident, and everyone becomes willing to accept it. This is how we got to a gold standard over some thousands of years. Lesser valuable monies trade hands more frequently, and have higher velocity, not because they are preferred to be held, but because people view them as inferior stores of value. Ie. you hoard the gold coins, and daily trade with the silver and copper ones. The proliferation of trade denominated in silver or copper makes it appear that a society prefers silver or copper as their money, but this is a deceptive metric.
Paper dollars initially represented a redeemable voucher for gold in a vault. Trading paper gold was more convenient than custodying actual gold. However you expected the paper to be redeemable for gold, which is why this paper bill had value in the first place.
Earlier quoted context omitted.
Not sure what the GP was on, "exemplarily" is a word but not often used, at least in speech (vs say "in an exemplary manner". Though in this case that doesn't work, perhaps "clear and exemplary" though it doesn't quite mean the same thing). "Dailily" is definitely not ("daily" is both an adjective and adverbial form).
How would you rephrase my comment above? ("This is exemplarily clear communication from a government agency.")
Earlier quoted context omitted.
How would you rephrase my comment above? ("This is exemplarily clear communication from a government agency.")
I just edited my post to give suggestion though honestly in this case, given what you intended to convey and being a written format "exemplarily" is actually a pretty good choice of word! Just a bit of a mouthful to say out loud.
So … like $12,000,000,000,000 of gold? I'm not sure if that's more or less than I'd expect.
> I'm not sure if that's more or less than I'd expect. Most people "owning" gold in the world hold paper gold that isn't backed by physical gold. And the paper gold volume traded on a daily basis is several orders of magnitude higher than the physical one. So even if it's less physical gold than one would expect (I didn't check you maths btw), there's "more" to it than just the physical gold.
All of the gold discovered thus far would fit in a cube that is 23 meters wide on every side. This is exemplarily clear communication from a government agency.
A little over 1.5 cubic meters per person. In "football fields", the gold would be over 430 ft high.
(19300 kg/m^3 * 23 m * 23 m * 23 m)/7970000000 persons ~= 0.0294 kg/person