So, this floated across /r/Dogecoin on Reddit just now, and I thought it was good enough to share on Facebook and here.
http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/
https://www.facebook.com/fulviohatesfb/posts/10155480333479449 if you feel inclined to like/share it.
I do wonder just how much of that physical money is locked up in coin collections. Probably about this much: --> . <-- or maybe a tenth of that... :angel:
And yeah, the same amount would be in Dogecoin I reckon. Which is where all this started, eh? :)
It's all "Smoke and Mirrors" Mate :angel:
I thought the last grouping was going to be a deposit on a two bedroom unit in Sydney.
Quote from: 'trout' pid='110267' dateline='1500791411'It's all "Smoke and Mirrors" Mate :angel:
So very, very true. Including the stuff we collect.. or at least the grannybait component anyway. ;)
Quote from: 'seedyrom' pid='110279' dateline='1500800241'I thought the last grouping was going to be a deposit on a two bedroom unit in Sydney.
Nope. The page wasn't big enough to fit that in. :diablo:
QuoteSo very, very true. Including the stuff we collect.. or at least the grannybait component anyway.
At least the stuff we collect is real and we can actually see and hold it, Including our grannybait.
Most of that debit is for something that doesn't exist and has been created out of thin air.:angel:
That is very interesting.
Thanks for sharing it Fulvio.
Quote from: 'trout' pid='110283' dateline='1500805408'Most of that debit is for something that doesn't exist and has been created out of thin air.:angel:
Yeah, well... I would argue the same applies to our objects of desire.
Take a piece of metal, paper or plastic. Add some equipment and labour.
Then magick some price point you've randomly picked out of your hat or more likely nether regions. PROFIT!
And it doesn't only apply to grannybait either. Same deal applies with slabbing, auctions, pretty much everything numismatic. :dodgy:
Its like the whole deal is rigged to pull 'value' out of thin air and apply it to something that doesn't exist.
Which is exactly why I collect out of circulation, and almost never succumb to the siren call of 'rarities'.
So gold is more common than silver?
The page doesn't make it easy
"1 billion ounces" (presumably troy) of silver above ground
"183,600 tonnes" of gold.
After a little work with the calculator I came up with a tonne as being 32,151 troy ounces.
So the above figure equates to 5,902,877,700 troy ounces [say 6 billion ounces].
To the cynical me that casts suspicion on all the figures on that page.
I think your question is a very good one Walter.
Since no country uses Silver as currency anymore there should theoretically be a huge surplus But now the myriad of industrial applications for Silver seem to be using more than is being mined annually (this is what I have read) and that surplus is being slowly reduced.
The majority of Gold on the other hand is used for jewellery and as a storage of wealth and as it is mined the stockpile just gets bigger as very little of it is used up in industry.
The reason for the price difference can be explained by the cost of producing each metal as Gold is a far more labour and resource intensive metal to extract and produce compared to Silver.