You'd have to give up 93 of your net worth.

liabilities plus equity.

And why don't you like them as much?

let me give you that piece of terminology, it just means net asset value.

I use 100 gold pieces.

RBE Resource Based Economy A Resource Based Economy, is based on pure logic.

These are my assets, and these are my liabilities.

Frobisher's net worth is upward of two and a half billion dollars.

So this is my liabilities.

So I use it essentially just to build a big vault, right?

So its assets.

That assets, A for assets, is equal to

Malibu Equity and Investments.

These should be at equal size, and now the NAV per share is going to be 1,800 divided by 10, or 180.

I don't want to draw this box.

And rich, eh?

I'll do that in yellow.

It should start to make a little bit of intuitive sense

Malibu Equity and Investments. Roger Van Zant.

Obviously , a machine you can't do all of those things to it, but you can at least touch it and possibly smell and taste it.

And what I wrote here is, it has 4 billion of liabilities.

He is a man of wealth.

He's a wealthy man.

Or across the street from each other.

So the total assets were 5 billion in assets.

In a world without leverage so if I didn't have all this

So this is just another visual representation that

It doesn't sound like we borrowed money or anything.

Remember liabilities plus equities are equal to assets.

Each share in this case once again, if you believe that the assets are worth 1 million are going to be 1 million.

Now, each of these shares, well the 1,000 is called the NAV, or the net asset value,

But let's say its assets are worth 1 million.

All of the assets needed to start the firm, the pizzeria.

Or they just have a super flush bank account.

Remember, every time it'd issue a loan, like for right here, it issued a 100 gold piece equivalent loan to D and instead of giving D 100 gold pieces from, say, right here, it just created a checking account for D, which later D paid to A and that's why it's labeled A right here. Let me relabel another thing because the gold is a different color just so you see the gold.

But let's just kind of think about a generic balance sheet for a bank.

So 225,000

I guess you could say non cash assets, right?

Are you a man of means?

you have to buy this back from me at the NAV (net asset value) per share.

And if you look at the species level, you saw about fish.

So I'm going to give you a little equation, actually, just to take a little bit of a tangent.

So that's the situation we're dealing with.

I won't use the square tool.

We had a 10 return on assets.