Burning money?

Question

If a really rich guy - like Bill Gates for example, were to burn all his paper money - $50 Billion US dollars - would it harm the country?

I mean, I know that he can spend it or splurge it on extravagance or donate it or use it for R&D or for capital goods or to hire more workers or to increase efficiency etc etc. But instead if he just burnt the money - would the country suffer ? the economy suffer? what would suffer?

Would this lower the inflation rate?

I am asking an Economics question - this is not an environmental question or a political question. I am just asking if someone burnt his money or stored his money in some way to remove it from the economy - if u get my drift. I am not harping on Bill Gates if that's yr concern. Take it easy and chill - I don't know how u became a Top Contributor in the first place - maybe by posting stupid answers here.

Answer 1

i think there would be a lil consequence, like some unemployed ppl (a lot sorry!) but i don't think the stock exange and the national economy would slump.

but isn't it part of the game? he can get us, but we can't get HIM... would we suffer? i don't think so. maybe i'll be disgusted, desperate for a while, but suffering in my soul, no.
i'm aware that i might become beggar someday. who knows?
thats why we have to work heart mind soul to go out of the system, so when the BIG problem would happen, we'll be far far away... in some green and fairy countryside...


isn't it freaky?...

meditate on how money rules the world, and our deep inside ourselves...

Answer 2

First of all, any wealthy person's money is not in actual paper dollars. Nor could a really wealthy person get his or her hands on paper money to burn. This is a really ridiculous question, because any Bill Gates total net worth may be $50 billion, or any other figure. That's not actual dollars. He owns property, he owns stock. Try picking on Donald Trump for a change. This harping on Bill Gates is really tiresome. The man does more good with his money than you and 10,000 other people combined.

Answer 3

I'm farily certain that Mr. Gates doesn't keep his multi-billions on hand in paper cash. He may have a couple thousand in his wallet, which wouldn't be missed by the community at all. Getting ahold of that amount of paper cash would be difficult to say the least! Burning the money would take it out of circulation, thus increasing the value of each remaining dollar in the country.

Answer 4

I'm pretty sure that is he burnt all his money , the economy would be effected, $50 billion leaving the system???

it would also probably have a really bad effect on the environment!