But this I just want to show you some data here.

I know I've overdrawn this picture a little bit too much.

Insurance.

The other type of policies is whole life and whole life is the motivation for whole life policies.

Insurance.

Ah, in that case

The insurance?

An insurance policy.

There are many kinds of insurance such as health insurance, fire insurance, life insurance, etc.

The yield on the bond is 6 .

Because that's essentially what a credit default swap is, it's insurance on debt.

Do you sell insurance?

You're not a homeowner until you don't have debt.

let's see those zeros cancel out, this zero cancels out, they're getting, over the life of the policy, 1 dollar in premiums for every 100 dollars in insurance.

I just realized that I didn't answer a question that might be burning in your brain because in whole life we talk about the scenario

I sell insurance.

An insurance swindle.

Put it at 0 if you don't.

My way, you get 100 percent from the insurance company take the bonds back from us at 60 cents on the dollar and make yourself another 40 percent.

We would create incentives for securitization.

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

I chose to crash this party myself.

I stumbled onto a racket.

You pay the same.. I would call it very high premium your entire life and so earlier on in your life when you're thirty or forty or fifty.

This is an actual model where we can be asked to optimize what happens.

So one way to think is they get 1 dollar in premium for 100 dollars insurance or if they had 100 Sals they get 100 dollars in premium and the only way they would break even is if only one of those Sal's dies.

liquidate it.

It was 1.6 million in bearer bonds.

levels of seniority.

You're guaranteed to get your 102 back, especially if it's

It's your car. Your insurance should pay.

We have insurance.

Elective surgery. And the boob job that

Mark copyrighted

Bonds together with some money was stolen.

The money was stolen along with the bonds.

There might be different debt holders who have different

I, uh, I was just going to say I've been cashing A lot of bonds lately, haven't I?

Do it anyway. Who's moving the bearer bonds?

Japan has been the biggest holder of the US government debt.

That would be from the population, or maybe from the patients, to the insurance companies, that provides the money for the insurance companies to use to pay for the providers.

So I go to the insurance agent and the insurance agent says

The name of the company?

What he she tells me of the money of the insurance?

That I have ensured.