If we are being harsh here we could easily say the value of savings across the globe is now zero and I will explain how now. The main reasoning being that each government of which a person might save the currency has debt running into the trillions or a large % of the countrys wealth/productive capacity. If you were to save the cheques you hope will be paid, it could easily be the case you may never receive the value. This is partly why we live in such a consumerist society because it is not safe to save.
The only country I think of immediately where the population has actual savings on average per person would be Norway and this is because for a long time the government has taken the nations oil wealth and not used it for spending or infrastructure 'investment' but saved these funds as a sovereign wealth fund for the nation. Every citizen of Norway has to their name an average value of about $70,000 in national wealth. Every other western country citizen has many tens of thousands of debt owing in national debt.
If people saved gold it may place them partly outside their countries national debt liabilities, I would agree they have some savings but if people save up promissory notes or paper FIAT then they could easily have no savings at all and long term this is the end game.

Quote from: Paecga129 on October 02, 2019, 05:07:40 PM

the cost to transfer money across the globe is huge when you want to transfer Fiat money, but now with the recent Advent of cryptocurrency technology, it's possible to transfer money across the globe for practically free.

Its free to speculate but the cost to using Crypto is the variance in the value of each blockchain and whether it will hold that value. It is an improved situation for many I agree because most people are not transferring large values and % costs are less important to them then absolute fees and the difficulty of operating a bank account with all the problems it can bring for the small household.