The yield on the bond is 6 .

So a security in the equity world is a stock.

Savings bonds.

They're savings bonds.

So it's going to be 6,000 times 1,000 bond certificates.

And if buying debt seems like a weird thing to say, buying debt is the same thing as lending money (lending money).

...even UBahn tickets.

You can't get it on Yahoo!

We would create incentives for securitization.

It can do it through debt or equity.

I have 4 billion in residential CDOs, collateralized debt obligations.

Annual rate of security

But then there's a very fundamental difference in what the holder of the bond is doing.

There's very little chance of them defaulting on their loans.

I feel secure when I invest in stocks but not bonds.

But kind of the one that people always talk about, I guess in the same phrase, is bonds.

The Spanish Victory Bond.

And we came up with this idea of issuing bonds, press freedom bonds.

And we said there's different kinds of debt.

My next presentation, I'm going to take it to a further

So that's what we're going to show you in the presentation on collateralized debt obligations.

So it's essentially this is an IOU from Company XYZ.

I have a whole video on mortgage backed securities.

May I have coupon tickets?

And because it's a junkier rating, no one is going to want to buy it.

This guy, he does have interest.

And let's visualize what a bond certificate could look like.

bishop?

Finance, you type in the ticker symbol and you get the price for that day.

And what is a bond?

So when most people talk about the yield curve, they're talking about the treasury yield curve.

And we learned that debt securities are often called bonds.

Let's get discount tickets.

And the environment might be things like the stock market or the bond market or the commodities market.

So what you do is you have, let's say, the 6 million.

Once you have all of that put together, there's not one reason why you couldn't actually have a marketplace for all of that, where you cannot dispose of all of those bonds in a pretty quick way.

And it could be divided into you could divide this into 6,000 bond certificates.

And I kind of jumped the gun a little bit.

Now let's say that Company x has also borrowed some money.

And this one that was in Kenya, they went around and distributed to people vouchers, discount vouchers.

Currency and bond markets are relatively calm.

There is a price.

It might have been structured so that Corporation A right here, before even issuing the bonds, they include this insurance with the bond.

They also use the global nature of Internet to their advantage.

Is that the original Victory Bond?