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But US wealth is controlled by less than 1%. So, what is the difference
by ejanus 9y ago
But US wealth is controlled by less than 1%. So, what is the difference
- georgeecollins 9y agoWealth <> currency
- ejanus 9y agoSome math ?
- georgeecollins 9y agoTotal wealth of US households = 84.9 T http://time.com/money/3919690/americans-total-net-worth-record/ http://time.com/money/3919690/americans-total-net-worth-reco... Total amount of US currency in circulation = 1.2 T https://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html https://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html Any way you want to figure it, the amount of wealth that exists does not correspond to the amount of currency in circulation. Both can go up and down independently of each other.
- mattthebaker 9y agoWealth is not primarily held as currency, and currency has inflation.