When it comes to a country’s monetary base, however, that is measured in terms of the total amount of currency in circulation or held in commercial deposits in the central bank, not in its gold reserves.
With its $25 billion dollar debt, it’s no surprise that despite being the world’s largest economy, the U.S. lags in fourth place behind Japan, China, and the Euro Zone when it comes to base money.
You might wonder why oil-rich countries like Saudi Arabia and the United Arab Emirates don’t appear on this report. Is it because most of their wealth is held in oil and not in fiat? Crypto Voices says: