141
Elon Musk becomes the richest person in the world... Except the trillionaires (!) are not on official lists, like the Rockefellers with $11Tn and the Rothschilds $100trillion (1998 data) (www.marketwatch.com) VERY FAKE NEWS
posted ago by Starxteel ago by Starxteel +141 / -0
30 comments
30 comments share save hide report block hide child comments
Comments (30)
sorted by:
You're viewing a single comment thread. View all comments, or full comment thread.
▲ 2 ▼
– CSIS_CIA_pure-evil 2 points ago +2 / -0

Compound interest is a scam. Lets say that Jesus had a dollar and put in into his 401K plan and earned 7% interest each year. What would be worth now.

Go to Excel or Open Office enter this into a cell: =FV(0.07,2000,0,1,1)

$58,553,838,483,800,200,000,000,000,000,000,000,000,000,000,000,000,000,000,000.00

That in silver dollars would exceed the mass of the known universe.

Punch line: Compound interest is an expanding exponential function or explosions. They are not stable and tend towards infinity. In engineering, we design system to be stable. In terns of interest, this would be an average rate of zero.

That is why the old wealth is now in the Trillions.

permalink save report block reply