To make a coin that contains $1 trillion worth of platinum, you'd need about 617 million ounces. That's about 19,300 tons of platinum.
One trillion equals a thousand billions, or million millions. 1 trillion consists of 1 followed by 12 zeros, that is, 1, 000, 000,000, 000 and can be written as \(10^{12} \) (ten to the twelfth power). It takes about 32,000 years to finish 1 trillion seconds.
1,000 billion = 1 trillion.
A platinum coin is minted as a machine stamps it with “One Trillion Dollars”, which is then given to the US central bank. With this single trillion dollar coin, the US federal government has the money to continue paying for services like social security and Medicare, avoiding catastrophic default.
“We've had a very dollar-denominated international monetary system. And a lot of that is due to the perceived faith and credit of the United States.” Because using a trillion-dollar coin to pay off the debt is an untested idea, we also don't know how the financial markets would react to such a plan, White added.
The Fed tries to influence the supply of money in the economy to promote noninflationary growth. Unless there is an increase in economic activity commensurate with the amount of money that is created, printing money to pay off the debt would make inflation worse.
A century of growing debt
The US federal debt in inflation-adjusted dollars has increased from $408 billion in fiscal year 1922 to more than $30 trillion today. The federal government spent $6.27 trillion in fiscal year 2022, which ended last September, according to the Treasury Department.
Zillion sounds like an actual number because of its similarity to billion, million, and trillion, and it is modeled on these real numerical values. However, like its cousin jillion, zillion is an informal way to talk about a number that's enormous but indefinite.
You could end global poverty. You could settle on the Moon and explore the solar system. You could build a massive particle collider to probe the nature of reality like never before. You could build quantum computers, develop artificial intelligence, or increase human lifespan.
If you asked us for the immediate response to the question: what comes after a trillion, it would be quadrillion. As you can see, that number comes exactly after a trillion. We can define a quadrillion as 1 with 15 zeros after it. It can written as 1,000,000,000,000,000.
A trillion is such a huge number, followed by twelve zeros. That is one thousand times a billion (nine zeros followed by 1). Do you know that only 6 trillionaires ever lived on the face of earth? As of today, there are no trillionaires who live on earth.
A trillionaire is an individual with a net worth equal to at least one trillion in U.S. dollars or a similarly valued currency, such as the euro or the British pound. Currently, no one has yet claimed trillionaire status, although some of the world's richest individuals may only be a few years away from this milestone.
Zimbabwe, the country that brought the world the one-hundred-trillion-dollar bill, has reached a new stage of monetary dysfunction. Because of a lack of small change, businesses have started printing their own “money”—scraps of paper, sometimes handwritten, that customers can use to pay for future purchases.
It was in fact Jeff Bezos who was set to become the first trillionaire. However, he is now forecasted to reach US$1.06 trillion in 2030, six years behind Musk in sixth place. Gautam Adani and Zhang Yiming are anticipated to be the next to amass more than US$1 trillion after Musk, according to the study.
/ˈtrɪljɪn/ A trillion is 1,000,000,000,000, also known as 10 to the 12th power, or one million million. It's such a large number it's hard to get your head around it, so sometimes trillion just means “wow, a lot.”
A trillion is a thousand billion. So you'd need to be counting for 31.7 thousand years! To count one trillion dollars, one dollar per second, would take 31,688 years!
What is a trillion dollars? Well, it's a million million. It's a thousand billion. It's a one followed by 12 zeros.
Even as it will be a while before the world sees its first trillionaire, it turns out that we already have a trillionaire family in our midst. The richest family in the world, the Saud family of Saudi Arabia, is also the only family that's worth more than a trillion dollars.
Here are seven things we could do with $100 billion:
Provide free tuition for 2 out of 3 public college students in the U.S. Send every household in the U.S. a $700 check to help offset effects of inflation. Hire 890,000 Registered Nurses to address shortages.
Answer and Explanation:
Actually, it's not a number at all! 'Gazillion' is a word that is used to describe a large amount of something, such as 'There were a gazillion ants on the ice-cream cone I dropped. ' It does not refer to a particular number, but is only used as an adjective to describe a huge group.
Like zillion and jillion, gazillion is a made-up word meaning "a whole bunch" that's modeled after actual numbers such as million and billion.
For those not sure what it means, quadrillion is 1 followed by 15 zeros, or one thousand trillion to look at it another way. Whichever way you look at it though, there's no avoiding the fact that this active debt volcano will eventually explode and cause a financial cataclysm of unprecedented ferocity.
At the start of 2007, prior to the Global Financial Crisis, Australian Government gross debt was under $52 billion. Between 2007 and March 2020 total Australian Government Securities (AGS) on issue increased to $580 billion, and is $897 billion as of 5 May 2023.
In the latest reports, Russia National Government Debt reached 302.0 USD bn in May 2023. The country's Nominal GDP reached 494.7 USD bn in Mar 2023.
estimates China's total government debt is about $23 trillion, a figure that includes the hidden borrowing of thousands of financing companies set up by provinces and cities.