The Exact Figure of Debts in Europe and the USA

Counting the unprecedented amounts of private and personal debt in Europe and the USA is an impossible task. Just imagine to first identify all data input sources only to arrive at the point where debt data has to be offset with savings data, equa(tiona)lly difficult. As all this would be too much of an unreachable perfect world I first throw a couple of figures - like in Texas Hold'em poker - on the desk before telling you the exact amount of the Western world's debt.

• World GDP: $50.000.000.000 (TRILLION)
• US GDP: $14.000.000.000 (TRILLION)
• Notional value of OTC derivatives >$700.000.000.000 TRILLION
• Unfunded US liabilities: > $134.000.000.000.000 (TRILLION)
• 2009 US Deficit: who knows (after all budgetary tricks?)

I may remind readers that the 10 most-indebted countries in the world are the USA by a long shot, followed by 9 European nations. And now after the jump see the exact figure of Western debts.

In my humble opinion the debt is
SIMPLY TOO MUCH TO REPAY
Prove me wrong.
Once we are at exponentially creating new TRILLIONS macro data are no more guidance for a manipulated stock market, where the privileged few appear to have a pre-order order-flow monitoring in operation. Ironically it's said HFT (high frequency trading) computers trashing the debt system where it's not anymore about investing into a company's future but about moving the Himalayas everyday in order to take home a cobble stone. Can somebody dig in the archive when the first 100 million hostile takeover filled business paper's pages? I bet its not more than 25 years.
It makes no more sense to bet on a get-out-the-dollar card in the monopoly of debt played nowadays. Federal Reserve Notes will fade sooner than most of us believe. Better be out several months ahead then 1 day too late. The Euro may be around a little longer than Sterling, which may share its last ride with the USA. The faster this biggest write-off in history is behind us, the earlier one could draw plans that include the lessons learned in this global financial meltdown.
One thing is undeniably correct: All unbacked paper currencies devalued more than 90% within a human lifespan. In most cases this happened much faster. To now begin again another draft for the modification of a sure-to-fail fiat money concept that always ended in hyperinflation since 1720, when John Law started financing the French king's parties with in specie currency, is like trying to plant palm trees in the Antarctic.
Why is there no discussion of a metal standard among the armies of economists that would shine out from the mass accepting fiat currency without second-questioning it first?
UPDATE: The financial Tsunami may arrive quite soon, if this FASB proposal will become legislation, forcing all risks on the balance sheets of banks at mark-to-market.