The new £10 note comes out this week and this got us thinking about money, money, money!
Specifically, how much money is there in the whole wide world?!
In America, the average household has about $100 laying about which means if every household in America pooled their cash together, they would have $15 billion! That’s $15,000,000,000 in just change…
If we were to collect all of the coins and banknotes in the world, it comes to about £3.79 trillion! But that’s only 10% of the money in the world.
Most people have bank accounts that let them store and access money quickly and easily. If we add that to all the coins and notes, it suddenly becomes £18.93 trillion…
That still isn’t all of it though!
If you add all currencies, banknotes and coins, checking accounts, savings accounts, ISA accounts and really big, long time deposits, that’s all money in circulation.
In the American economy, the bank in charge doesn’t even report this figure anymore, but as a measure of money that could be spent, it’s real.
So, the answer?
About $75 trillion US dollars or £56 trillion!
