How is that possible that Fixed Income are larger than stock markets? Fixed Income are virtual units of debt / ledger entries…

by Quant2011

In every region they are larger, meaning that productive assets (stocks) are valued less than non-productive , electronic ledger entries, impostors of real money:

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https://seekingalpha.com/article/4594039-global-etf-market-facts-3-things-to-know-from-q1-2023

Gold ETFs in North Am are only 1727 tonnes, 55M oz, worth just $110 billion. Or 0.3% of US stock market, while at least 10% gold allocation is required to hedge stock portfolio. Even worse, if we add fixed income.

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What the above does not cover are fiat currencies. If we add them, productive real assets and real money (gold and silver) are veeery small – which is inverted freakonomics.