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.

There might be different debt holders who have different

And that makes sense, right?

The yield on the bond is 6 .

I said, who gets the money?

So what happens when you go into bankruptcy?

America's foreign debt shot past 500 billion.

They go to 0.

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

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.

And they get paid first.

It was 1.6 million in bearer bonds.

It sense the foreign nature of the dreamer.

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?

This is the debt, or the liabilities.

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

They serviced the loans.

Interesting.

They said, wow, this is great.

For liberals, the scores are very low.

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

So given that 2 on 100,000 debt.

We give foreign tourists the privilege of tax exemption.

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.

But it's really a measure of the same thing.

I'm surprised that you're so naïve.

I'm surprised that you're so naive.

I'm surprised you're so naive.

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

Bonds, you become part lender to the company.

Excluded

You could do it with corporate debt.

Oops.

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

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

So everyone decides that it's in their best interests to keep this thing running.

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

If you're hosted by the Pirate Party you get political protection.

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.