This is what happens when you measure wealth in fiat currencies over a long term range.
In the past five years the total assets on US bank books have risen by a paltry $2.1 trillion while over the same period, Chinese bank assets have exploded by an unprecedented $15.4 trillion hitting a gargantuan CNY147 trillion or an epic $24 trillion - some two and a half times the GDP of China!
Putting the rate of change in perspective, while the Fed was actively pumping $85 billion per month into US banks for a total of $1 trillion each year, in just the trailing 12 months ended September 30, 2013, Chinese bank assets grew by a mind-blowing $3.6 trillion!
The world is now fully addicted to about $5 trillion in annual liquidity creation between just the US, Japan and China alone! Throw in the ECB and BOE as many speculate will happen eventually, and it gets downright surreal.
When you have all the worlds currencies no longer tied to anything and are truly fiat then there should be no surprise that there are more trillion DOLLAR companies, billionaires, and millionaires than ever before.
