So liabilities. Liabilities.

Let's say assets and I'll talk about margin requirements

And let's say that's all of their liabilities.

And then we have the debt, the debt of the company, or the

Let's think about its liabilities.

The game's objective is simply to lead correctly your country

I owe the bank 750,000.

So first, a little bit of definitions.

This is 120,000 in equity, market value of equity, he has another 105,000 in liabilites.

This was equity.

liabilities.

liabilities as well.

It had 5 million of debt.

What are my liabilities?

That assets, A for assets, is equal to

Let's say that it has, I don't know, 1 billion 1 billion in government bonds,

Or the other way to view it is, assets minus liabilities is equal to equity, right?

Minus 1.075 that was the max that I could borrow

Everything on the right hand side is equity, so this is all equity.

I still owe 750,000 to bank.

So my liabilities I owe the bank 750,000.

Most times the liabilities are pretty easy to get a handle on.

I think I had called it Loan C.

I had 100 of cash, no accounts receiveables,

So the only liability is this 5,000.

Let me just make everything clear.

These are the assets that our five buddies have together.

So over here you had another liability.

So in this case, our assets are 250,000.

My assets are 250,000.

So these treasury securities, whether they're T Bills, treasury bills, treasury notes, or treasury bonds.

What is even a treasury?

The Spanish Victory Bond.

Grab the bonds!

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

These are my assets.

It should start to make a little bit of intuitive sense

So right now, the short seller, he has assets and

I now have cash of 1 million. What are my liabilities?

YoOOuse shell corporations to hide your debt.

you're looking at Mr. Fred Renard, who carries on his shoulder a chip the size of the national debt. this is a sour man, a friendless man a lonely man, a grasping, compulsive, nervous man. this is a man who has lived undistinguished, meaningless, pointless, failure laden years and who at this moment looks for an escape, any escape. any way, anything, anybody, to get out of the rut.

An even bigger picture, if I now look at my balance sheet, what are my liabilities now?

I bought Defence Bonds.

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

And this is an annual income statement.