So, assets are equal to 1,000 gold pieces.

I'm going to show you about leverage.

I now want to introduce you to the concept of leverage.

There's a couple of really big problems that are still sitting there.

One is leverage.

This is an absolutely staggering chart.

let's say I have a 50 loss on these loans that I made.

And that's what leverage is a measure of, because if you have really high leverage, then you notice, when we had no leverage, you could take a 50 loss really easy, but now that we had even 10 3 leverage, even a 50 loss wiped us out.

The scan in a couple of years will be one terabyte, or 800,000 books.

So in the next video,

(Laughter) So, a normal commercial bank has nine to 10 times leverage.

You know, things like cashpoor and leveraged quarterly decline, yadda, yadda, yadda.

When I don't know what I'm talking about

Where to?

Why don't you just go?

Where?

Go where? e

Where are we going?

What? Where?

Where?

Taken where?

To what?

Where are you going?

Where are we going?

Where you going?

Where are we gonna go?

Where you headed today?

It will never go away?

I'll actually talk about how leverage is regulated within banks, but just to give you another measure of leverage because this measure I gave you if someone says 10 3

And we have explored reserve requirements and all that.

And now this is the early era of wearable robotics.

It might change my behavior.

It ended up being just on reserve ratios, this one.

You had no intention of sending me up.

Let's think a little bit about leverage.

Where to?

Where is he now?

Where are you going?

Where are you going?

fucking asshole!

What would you do in LA on Friday?

Where you going?

For good.

Base to platform, what was all that?

I've been on the ship a lot since the last time we talked. Anna has the live aboards eating out of the palm of her hand.