And that IOU, you could call that a Sal bond.

Well, its assets are let's see one plus 21, 25, 26 billion in assets and its liabilities are 23 billion.

A 1 0 U.S. Savings Bond.

So going back to our balance sheet, we had a 10 million asset, we had 5 million of debt.

So for example, if you by a well I'll just say a face value bond of, let's say it's a thousand dollars, and there's a thousand people who do that.

Their balance sheets are identical, except for Jason's Shoes has 100,000 in debt, and Ben's Shoes has no debt.

And this is an annual income statement.

So you know these these are loans to really solvent or very creditworthy companies.

This is the equity...

If these are really worth 4 billion.

This is the retiree health care benefits.

It was 1.6 million in bearer bonds.

So, I don't know, I'm just going to make up some things.

It's in a safe.

If you add these two up you get pretty close to about 22 million, so just for simplicity I'll put it over here as 22 million.

The company did not succeed, and he couldn't pay the money back, and I was the guarantor of the note.

Jason over here let me do this in an appropriate colour

And we have 5 billion in assets, 4 billion of

Now no matter what, this company cannot go bankrupt.

And in the meantime, it's going to pay me interest.

He is the cash box for his company.

This was 26 billion of assets.

Now let's go to the liabilities.

Interest expense.

So notice, it still does not change our Equity.

So what are our total assets? 4 billion plus 4 billion, it's 8 billion of assets.

This was 10 million.

Total assets.

If this is worth zero, if these 2 billion are actually worth zero, then this is an insolvent company.

I did that for a reason but if the assets were 10 million and liability was 5 million, if we had owed 5 million to someone else, then you would have 5 million left for the equity.

I won't go into that too much, but I think you get the idea what I mean, part lender.

External debt something that I can tell you a long story about because I personally worked on one of the biggest debts on the continent has come down dramatically.

Our total debts amount to ten thousand dollars.

America's foreign debt shot past 500 billion.

liabilities of the bank.

Is it legal? Sure. I've even paid the taxes.

Maybe debt that you have to pay in the next year.

Over 70,000 in cash,silver,and liberty bonds.

A hundred million people in the world are homeless.

I'm just throwing that in there just as filler just to show you that there could be a lot of different types of assets in there.

And at least on its books, it had 1 billion of government bonds. 10 billion of very highly rated corporate bonds, so these are loans to corporations that are very

You're kind of on the hook for something.

Because everything would have added up to 26 billion.

So what are my assets?

So then he's done.