I'd like to know (can someone do the math please?) that if you reduced all the world's Billionaires to merely Millionaires, how much money would that generate to feed the worlds hungry?
Responses (1)
A millionaire does not have a million bux lying around. If the interest rate is 2% anybody with 20,000 bux annual income is a millionaire. The current interest rate is 0.2% so anybody with 2,000 bux annual income is a millionaire.
That happens because the Federal Reserve creates all the money the politicians want to spend. So there is an awful lot of spare cash in the world. If Russia were to spend all its US dollar reserves to buy all the gold in the world, the price would be $20,000 per ounce.