It was the UK prime minister and the new definition applied to both monetary and scientific usage.
The OED says that the original million million definition was based on a million to the power of 2 hence the name Billion. Makes sense ?
What's the difference between 1Million and 1 Billion?
- Thread starter JeffKeryk
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It was the UK prime minister and the new definition applied to both monetary and scientific usage.
The OED says that the original million million definition was based on a million to the power of 2 hence the name Billion. Makes sense ?
Numbers are not "pliable" like language is. One billion = 1,000 million. Always has, does now, and always will.
I remember, about 25 years ago, I was on a work assignment in Turkey, which suffered hyper-inflation. When I arrived $1.00 US was worth about 450,000 Turkish Lira. By the time I left, a dollar was worth over 1.000,000 Turkish Lira. It was easy to be a Turkish billionaire.
All this talk about money... Sheesh.
The size of the observable Universe is thought to be 93B light years, and may even be infinite. A light year is 5.8T miles; it would take humans many thousands of years to travel 1 light year.
The size of the observable Universe is thought to be 93B light years, and may even be infinite. A light year is 5.8T miles; it would take humans many thousands of years to travel 1 light year.
Win the lotto and get a billion, pursue your dream to be a farmer and keep at it until you turn it into a million.
That reminds me of how to make a small fortune in the stock market..... Start out with a large one.
This is yet another video that puts our national debt into a very scary perspective. While it incorporates a lot of A.I., and the background music is ridiculously loud, it really shows the biggest financial problem we are all facing..... And the scariest part is most all of the leaders in this country couldn't care less.
Most people couldn’t care less, that’s the problem.
Even on BITOG, which is usually quite conservative when it comes to finances, there are many people that believe national debt is no big deal and that we can always print more money or default on the debt when we choose to because it’s all fiat money.
One thing they cannot answer is, why do we need to pay taxes then?
What is also amazing to the solution of, "printing our way out of debt", is what it would cost to accomplish that task. (Print $38 Trillion Dollars in $100 bills).
It would cost the U.S. Mint between $42 and $58-1/2 BILLION DOLLARS just to print that amount of money.
https://www.google.com/search?q=how...HwQiyBwC4BwDCBwDIBwCACAA&sclient=gws-wiz-serp
Law of supply and demand. Printing excessive money supply not backed by economic growth will result in hyperinflation. The dollar loses value and its purchasing power.
I think switch that to yen, and you will see how that impact people with high networth in a hyper inflation world.
Man my thread took on legs of its own. Money was not my intention. Sheesh, what's a poor boy to do?
Nick1994
$100 site donor 2024
999 million
I think you forgot that the Treasury has a way to mint platinum coin if ordered to and each would be in the Trillion. You don't need to print paper.
https://en.wikipedia.org/wiki/Trillion-dollar_coin
Typically though, you can just flick a key and inject a number in the banking system. Much easier this way.
Remember when they flew billions in cash on pallets to Iran in the middle of the night?
It doesn't matter when your playing with someone else's money!
Re our national debt. Its incomprehensibly important that our dollar remains the standard that this huge fiasco of debt is based on.
The ONLY way our system can survive is to devalue the debt. That's done by inflation.
If in 20 years the dollar is worth half of what it is worth today, and salaries and taxes have adjusted so that the taxes collected are twice as much in dollars, then today's debt will have become half of what it is in value that needs to be paid back or refinanced.
Interest paid along that 20 years not taken into account!
So, basicly our system is locked into doing anything necessary to have our dollar remain the reference mark and a good currency to trade with.
And also our system is locked into having inflation. Without inflation, it can not stay solvent if borrowing continues.
And Im not a trained economist. And I don't have any degree in finance.
So, maybe that old saying needs an amendment:
The only things certain are death, taxes, and inflation.
The ONLY way our system can survive is to devalue the debt. That's done by inflation.
If in 20 years the dollar is worth half of what it is worth today, and salaries and taxes have adjusted so that the taxes collected are twice as much in dollars, then today's debt will have become half of what it is in value that needs to be paid back or refinanced.
Interest paid along that 20 years not taken into account!
So, basicly our system is locked into doing anything necessary to have our dollar remain the reference mark and a good currency to trade with.
And also our system is locked into having inflation. Without inflation, it can not stay solvent if borrowing continues.
And Im not a trained economist. And I don't have any degree in finance.
So, maybe that old saying needs an amendment:
The only things certain are death, taxes, and inflation.
It is actually worse when they want to get their money back when you are in a pinch.
There was a saying, that translates into something like they want to lend you the umbrella when it is sunny but want it back when it starts raining.
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