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TOM - Correct me if I'm wrong. Don't all 15 brethren hold all the same keys as does the prophet? Isn't it an incorrect statement to say that President Monson is the only person on the earth who holds all the keys that are currently on the earth today...?
JOEL - You are correct. The distinction is that even though all 15 Apostles hold all the keys, the president is the only one who can exercise all the keys on behalf of the church.
Elder Russell M Nelson once said:
"Surely a sacred moment of my life occurred April 12, 1984, when the First Presidency and members of the Quorum of the Twelve Apostles laid their hands upon my head. As had been done for others before me, all the keys of the priesthood were conferred. As it is with each member of the Quorum of the Twelve, some keys are not used until called upon by the Lord, or as directed by his senior Apostle. (Ensign October 1987)
So although each Apostle holds all the keys of the priesthood, it is the Lordís plan that only one man at a time exercise all these keys on behalf of the Church and that each Apostle exercises certain keys as directed. So the more correct thing to say would be, "President Monson is the only person on the earth who is authorized to exercise all the keys that are currently on the earth today."