Are there any worldwide estimates as to how much money there is? If it were consolidated into say, US Dollars?
Also, how much of this money is backed up by precious metals?
:dubious:
Are there any worldwide estimates as to how much money there is? If it were consolidated into say, US Dollars?
Also, how much of this money is backed up by precious metals?
:dubious:
I wouldn’t know. Beside, what do you mean exactly by “money”? Only bills and coins (which are only a little part of the existing money)?
AFAIK, currently, 0% . I don’t think any currency is backed by precious metals. However, gold coins minted by various countries usually are (theorically, of course) legal tender. That’s the only kind of money “backed up by precious metals” I can think of.