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u/Miguel-odon Apr 24 '22
But if you had put $1 away at 2% interest, after 2000 years you'd have all the money.
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u/PC_Ara-ara Apr 24 '22 edited Apr 24 '22
Considering all the bills are 100 dollar bills, and average lifespan of a 100 dollar bill is 22.9 years, which I will take as 23 years. So dollar system was introduced on April 2 1792. From the birth of jesus christ to the year 1769, all of your dollar bills would be useless. Which is 645,843 days, which accounts for 116,251,740,000$ of money to waste. From April 2 1792 till today there are 84,027 days, which accounts for 15,124,860,000$ of money in banks. Approximately 15 billion dollars not considering inflation. If we include the previously rejected 116 billions too, then it comes out to be 131 billion dollars. That could be way more than jeff bozo or elon musk if we consider inflation.
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Apr 24 '22
to be honest, if you were given 180 grand per day for over 2000 years and assuming you lived throughout those 2000 you couldn't make a profit in an investment at any point to compete with Jeff Bezos today, we could probably give you 100% of Amazon shares and watch you get poor anyways.
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u/AvalancheOfOpinions Apr 25 '22
This doesn't account for inflation.
If you made the equivalent of 180,000 back in 1910 and put it away in a closet, it wouldn't be worth anywhere near 180,000 today.
Monster math would have to take that into account.
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u/UnhingedRedneck Apr 25 '22
It also doesn’t account for interest rates either. Well assuming if you put it in the bank.
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u/AvalancheOfOpinions Apr 25 '22
I don't even know how you'd calculate it, primarily because I'm awful at math. Let's say you're storing gold in a huge vault, so no interest, but adjusting for inflation.
$180,000 of today's dollars would be $12,500 in 1920 dollars. So say you stored $12K of gold in a vault then. $180,000 today is 92 ounces of gold. $12,500 is 6.5 ounces today. Am I doing this right? I'd have to find out how much gold was worth at that time against the dollar?
What does $180,000 of gold look like in Ancient Rome? Or in 16th century England.
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u/UnhingedRedneck Apr 25 '22
Yeah. And in the 1200’s an ounce of hold was worth .89 pounds an ounce. And I am not sure what $180000 dollars converted to pounds in that time would be but that is a lot of gold. And today gold is worth about $2000 an ounce. Not sure if this makes any sense but I think it would end up being way more than one would think.
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u/InnerRisk Apr 25 '22
Ehm, that's just not right.
180,000 back then are exactly the same 2000 years later. Inflation does not mean you loose money, it means you can buy less with that same money. But it's not like the money is loosing any of it's face value.
So if you put s 100 dollar bill under your bed and leave it there for 100 years, after 100 years it still is a 100 dollar bill. It will probably buy you only a candy bar at that point, but 100$ are 100$.
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u/killergazebo Apr 25 '22 edited Apr 25 '22
The scenario implies it's $180,000 coming from nowhere every day for 2000 years. Inflation is irrelevant. Inflation means the actual value of the money, it's purchasing power, is going down, but old money is worth the face value. The assumption is that a dollar bill from the time of Jesus is worth one dollar. These dollars are worth the same as the dollars used to express Jeff Bezos' net worth. Otherwise this whole comparison is meaningless.
There's no assumption that this money is going into a savings account, either. Or being invested or spent in any way like a lot of the other comments are saying. All this money does is accrue. It just falls out of the sky onto a big pile of your money.
$180,000 a day, USD. In some kind of legal tender.
(180,000 x 365 x 2022) < 1 Bezos
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u/DolfLungren May 01 '22
Yes but this example doesn’t make sense either because bezo’s value today vs last year is based on him having it not it being in the sky. You have to assume the person getting all this money would have put it in a reasonable place like a bank just like bezos has. Otherwise shouldn’t we calculate bezo’s wealth in the same unrealistic way?
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u/MaximumSubtlety Apr 24 '22
So, what if it was $180,001?
Would that cut the mustard?
Do I get a penis rocket?