What would you do with $92,233,720,368,547,800?

Started by jimmy olsen, July 18, 2013, 12:52:07 AM

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MadImmortalMan

Your bank would go out of business and implode as soon as you tried to withdraw it. Poof. Money gone.
"Stability is destabilizing." --Hyman Minsky

"Complacency can be a self-denying prophecy."
"We have nothing to fear but lack of fear itself." --Larry Summers

Barrister

Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?

Well I suppose for starters id depends on what you do with it.  Holding it in a bank vault would make no difference whatsoever.

But google is telling me the total world money supply is 40-some trillion dollars. 92 quadrillion is therefore 2000x more money than the rest of the world.  If you start to run out and spend that money you're going to get massive inflation, but even then you'd have enough money to buy, well, everything (or at least everything that is available for sale).
Posts here are my own private opinions.  I do not speak for my employer.

Ideologue

Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?

None.  Paypal would declare bankruptcy.
Kinemalogue
Current reviews: The 'Burbs (9/10); Gremlins 2: The New Batch (9/10); John Wick: Chapter 2 (9/10); A Cure For Wellness (4/10)

Maximus

Quote from: Ideologue on July 18, 2013, 01:59:21 PM
Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?

None.  Paypal would declare bankruptcy.
Assumption fail

Ideologue

Am I supposed to assume that PayPal has the same powers as the U.S. Treasury?
Kinemalogue
Current reviews: The 'Burbs (9/10); Gremlins 2: The New Batch (9/10); John Wick: Chapter 2 (9/10); A Cure For Wellness (4/10)

Barrister

Quote from: Maximus on July 18, 2013, 02:01:20 PM
Quote from: Ideologue on July 18, 2013, 01:59:21 PM
Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?

None.  Paypal would declare bankruptcy.
Assumption fail

Yes, but it becomes impossible to imagine what $42 quadrillion would even look like.  It vastly exceeds the value of all printed currency in the world.  No bank would have an account that large as they couldn't pay it off.  You pretty much wind up having to assume that you own $42 quadrillion worth of something - but the problem is by having so much of something it instantly becomes substantially less valuable.  If you had $42 quadrillion worth of gold, gold would suddenly be pennies an ounce.  If you had $42 quadrillion in US bills, the US dollar would be near-worthless in international exchange.
Posts here are my own private opinions.  I do not speak for my employer.

Admiral Yi

Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?

Massive depreciation of the greenback.*  Gigantic inflation in the dollar zone.  You would own everything.

* It's cool that, in addition to all the other ossum things about the US, we have an ossum nick name for our currency.

Actually, I expect we would pass legislation annulling the old currency.

Maximus

Quote from: Barrister on July 18, 2013, 02:09:50 PM
Quote from: Maximus on July 18, 2013, 02:01:20 PM
Quote from: Ideologue on July 18, 2013, 01:59:21 PM
Quote from: Maximus on July 18, 2013, 01:47:29 PM
Let's say you decided to keep it and were successful, however unlikely that may be. What would be the likely long and short term effects on the economy?

None.  Paypal would declare bankruptcy.
Assumption fail

Yes, but it becomes impossible to imagine what $42 quadrillion would even look like.  It vastly exceeds the value of all printed currency in the world.  No bank would have an account that large as they couldn't pay it off.  You pretty much wind up having to assume that you own $42 quadrillion worth of something - but the problem is by having so much of something it instantly becomes substantially less valuable.  If you had $42 quadrillion worth of gold, gold would suddenly be pennies an ounce.  If you had $42 quadrillion in US bills, the US dollar would be near-worthless in international exchange.

Yes I realize all that. Let's say I was an average person who was mainly interested in buying everything he thinks he might want and enjoying it, rather than focusing on acquisitions for the sake of acquisition. The actual amount is then irrelevant; for our purposes it is effectively infinite. The limiting factor is how quickly it gets spent.

I guess the question I was interested in is how quickly the effects spread if the influx of money is instantaneous and the entry point is a single average individual.

Jacob

I think that a single average individual with infinite cash would very quickly ratchet up their buying to purchase "everything" - especially as advisors would show up very quickly to offer to tell you how to do so.

MadImmortalMan

One person can only sign the paperwork so fast though. There has to be a limiting factor in how quickly the money can be spent. Of course if he gives a trillion dollars to all his friends...
"Stability is destabilizing." --Hyman Minsky

"Complacency can be a self-denying prophecy."
"We have nothing to fear but lack of fear itself." --Larry Summers

DGuller

Quote from: MadImmortalMan on July 18, 2013, 02:57:19 PM
One person can only sign the paperwork so fast though. There has to be a limiting factor in how quickly the money can be spent. Of course if he gives a trillion dollars to all his friends...
You can form a corporation, hire a bunch of purchasers, and give them authority to make the final decision on purchasing.  You can also give them an authority to hire their own purchasers.  Then it's just a matter of giving them sufficient budget, and making sure they don't embezzle it.

The Brain

If only someone had made a movie about spending lots of money. :(
Women want me. Men want to be with me.

Maximus

Quote from: DGuller on July 18, 2013, 03:14:51 PM
You can form a corporation, hire a bunch of purchasers, and give them authority to make the final decision on purchasing.  You can also give them an authority to hire their own purchasers.  Then it's just a matter of giving them sufficient budget, and making sure they don't embezzle it.
I knew someone was going to come up with this, which is why I said

QuoteLet's say I was an average person who was mainly interested in buying everything he thinks he might want and enjoying it, rather than focusing on acquisitions for the sake of acquisition.

Ideologue

But, playing the game, a thousand-bomber raid on Beijing with B-1Bs.  I think I could swing that with $92qn.
Kinemalogue
Current reviews: The 'Burbs (9/10); Gremlins 2: The New Batch (9/10); John Wick: Chapter 2 (9/10); A Cure For Wellness (4/10)

Jacob

Quote from: Maximus on July 18, 2013, 03:19:14 PM
Quote from: DGuller on July 18, 2013, 03:14:51 PM
You can form a corporation, hire a bunch of purchasers, and give them authority to make the final decision on purchasing.  You can also give them an authority to hire their own purchasers.  Then it's just a matter of giving them sufficient budget, and making sure they don't embezzle it.
I knew someone was going to come up with this, which is why I said

QuoteLet's say I was an average person who was mainly interested in buying everything he thinks he might want and enjoying it, rather than focusing on acquisitions for the sake of acquisition.

Which is why I said:
Quote from: Jacob on July 18, 2013, 02:46:17 PM
I think that a single average individual with infinite cash would very quickly ratchet up their buying to purchase "everything" - especially as advisors would show up very quickly to offer to tell you how to do so.