Why Is The World Economy Doomed? The Global Financial Pyramid Scheme By The NumbersMichael Snyder We got a small taste of what that is like back in 2008, and it is inevitable that it will happen again. Anyone that would tell you that the current global financial system is sustainable does not know what they are talking about. Just look at the numbers that I have posted below. The following is the global financial pyramid scheme by the numbers $9,283,000,000,000 The total amount of all bank deposits in the United States. The FDIC has just 25 billion dollars in the deposit insurance fund that is supposed to guarantee those deposits. In other words, the ratio of total bank deposits to insurance fund money is more than 371 to 1. $10,012,800,000,000 The total amount of mortgage debt in the United States. As you can see, you could take every penny out of every bank account in America and it still would not cover it. $10,409,500,000,000 The M2 money supply in the United States. This is probably the most commonly used measure of the total amount of money in the U.S. economy. $15,094,000,000,000 U.S. GDP. It is a measure of all economic activity in the United States for a single year. $16,749,269,587,407.53 The size of the U.S. national debt. It has grown by more than 10 trillion dollars over the past ten years. $32,000,000,000,000 The total amount of money that the global elite have stashed in offshore banks (that we know about). $50,230,844,000,000 The total amount of government debt in the world. $56,280,790,000,000 The total amount of debt (government, corporate, consumer, etc.) in the U.S. financial system. $61,000,000,000,000 The combined total assets of the 50 largest banks in the world. $70,000,000,000,000 The approximate size of total world GDP. $190,000,000,000,000 The approximate size of the total amount of debt in the entire world. It has nearly doubled in size over the past decade. $212,525,587,000,000 According to the U.S. government, this is the notional value of the derivatives that are being held by the top 25 banks in the United States. But those banks only have total assets of about 8.9 trillion dollars combined. In other words, the exposure of our largest banks to derivatives outweighs their total assets by a ratio of about 24 to 1. $600,000,000,000,000 to $1,500,000,000,000,000 The estimates of the total notional value of all global derivatives generally fall within this range. At the high end of the range, the ratio of derivatives to global GDP is more than 21 to 1. Are you starting to get the picture? Every single day, the total amount of debt will continue to grow faster than the total amount of money until the day that this bubble bursts. What we witnessed back in 2008 was just a little hiccup in the system. It caused the worst economic downturn since the Great Depression, but global financial authorities were able to get things stabilized. Next time it wont be so easy. The next wave of the economic collapse is quickly approaching. A full-blown economic depression has already started in southern Europe. Unemployment is at record highs and economic activity is contracting rapidly. The major offshore banking centers in Cyprus are on the verge of collapsing. It was just announced that they will now be closed until Tuesday, but nobody really knows for sure when they will be allowed to reopen. And there is already talk that when they do reopen that there will be strict limits on how much money people can take out. And now the IMF is warning that the three biggest banks in Slovenia are failing and that a billion euros will be needed to bail them out. The dominoes are starting to tumble, and the United States wont be immune. In fact, the greatest financial problems that the United States has ever seen are on the horizon. But you can just have faith that Ben Bernanke, Barack Obama and the U.S. Congress know exactly what they are doing and will be able to save us from the coming financial collapse if you want. But when you are tempted to believe that everything is going to be okay somehow, just go back and look at the numbers there were posted above one more time. There is no way that the global financial pyramid scheme is going to be able to hold up for too much longer. At some point it is going to totally collapse. When that happens, will you be ready? This article first appeared here at the Economic Collapse Blog. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here. linkwithin_text=Related Articles: 