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

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

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

liquidate it.

And that makes sense, right?

There might be different debt holders who have different

The yield on the bond is 6 .

So what happens when you go into bankruptcy?

And to stop it crashing over the last two to three decades, we've expanded the money supply, expanded credit and debt, so that people can keep buying stuff.

They go to 0.

I said, who gets the money?

Tend to cling to male authority figures.

Perhaps you will be so good as to do the same for his creditors in Meryton,

It was 1.6 million in bearer bonds.

Open Market Operations. They will go to the market, maybe directly to these banks, or some other banks, and they will buy treasuries.

And forgive us our debts, as we forgive our debtors.

And forgive us our trespasses, as we forgive those who trespass against us.

And forgive us our trespasses, as we forgive them that trespass against us.

So we could say, well, a new figure comes out ... let's see African debt.

This is the debt, or the liabilities.

Interesting.

And they get paid first.

Payable to the City of San Francisco.

Bonds together with some money was stolen.

The money was stolen along with the bonds.

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?

Anagnorisis is the Greek word for discovery.

And I think you'll get a sense based on where I took the 5 million out of, who gets the money.

So what happens is that the debtor stays in possession of the assets.

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They serviced the loans.

Bonds, you become part lender to the company.

They said, wow, this is great.

And it's often, maybe this debtor right here, he'll hire one bank.

Morningstar type.

You could do it with corporate debt.

Oops.

Nevertheless, we will be eventually heavily rewarded from doing this.

This is better than buying treasuries.

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.

The doctor informed his patient of the name of his disease.

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Now let's say it gets even worse.

And just to contrast this with bonds, because they are often used in the same phrasing, oh I'm going to go buy some stocks or bonds, or I deal with stocks and bonds.