And the principal architects very quickly sent their instructions.

And all of that is, essentially, just consumption that just destroys wealth.

Moving all deposits to one secure location, not a bank.

The second actor, different cast of guys, is the donors.

No more than I already gave you.

So this is lending some cash.

Khalid is asking for some money to be made as a donation to the mosque.

I raise funds.

But they are extremely efficient organizations.

That's simply not true.

Let me turn from jobs to the second objective, which is improving basic social services.

I put it in, I don't know, maybe I'm a good investor.

Yes, it's an enterprise.

let's have corporations take over, and that's not true.

We've got our funding.

Well, surprisingly of course venture capital always does follow on rounds so this was kind of a trick question.

So the big difference open ended fund when an investor wants their money back they have to deal with the fund itself the fund will buy back their share

And that seems like a pretty reasonable proposition.

At the time they were mostly losing money.

That and money.

So it gives these shares to each of these people, and they have to contribute 200, so essentially, it puts another 1,000 into the pool, that Pete can now manage, and so now the total NAV for the fund is 2,000 now and Pete will get his 1 management fee off of this entire 2,000.

The economy grows, government accumulates more resources, and the government can invest in infrastructure rather than infrastructure being a cause for economic growth.

He's my doctor. He's my lawyer.

We Western donor countries have given the African continent two trillion American dollars in the last 50 years.

Now, fast forward to a situation like we are right now and the Federal Funds Rate is already at zero.

In fact, what we used to do is we used to draw this diagram on napkins.

We don't know if that's true or not, and he can also solicit funds from the public.

And in between, there should be a public agency, the Independent Service Authority, which channels public money, and especially donor money, to the retail providers.

I created a company in America called Gonofone, which in Bengali means people's phone.

You didn't launder your money.

I guess you could say non cash assets, right?

And they can afford to watch how we work

Now, let's say that the next year I sent them statements that say, look, I made super awesome investments again, the money doubled again.

A cash nest eggeither from his exwife or the s.e.c.

And I'm actually going to initially capitalize this bank with 200 gold pieces.

That's around 130 billion dollars a year it's a lot.

Typically in the past, the donors have been interested in the first couple of years, and then they got bored.

Supporting financially

I met him on the train.

They were living like this with very poor plastic sheets in the park.

Maybe this'll get you started.

So let's say that we wanted to study, you wanted to study with me, corruption in this context.

That's me, so I get one share, and in exchange I gave 100 to the fund.

The timing is for a further three years. Where's the plane? Okay.

And of course the investors would care that the money that they're essentially giving because they're giving money to the investment bankers who are giving money to