Currency and bond markets are relatively calm.

Savings bonds.

They're savings bonds.

So a security in the equity world is a stock.

It can do it through debt or equity.

And if buying debt seems like a weird thing to say, buying debt is the same thing as lending money (lending money).

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.

So it's going to be 6,000 times 1,000 bond certificates.

You can't get it on Yahoo!

We would create incentives for securitization.

I have 4 billion in residential CDOs, collateralized debt obligations.

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There's very little chance of them defaulting on their loans.

And we said there's different kinds of debt.

But kind of the one that people always talk about, I guess in the same phrase, is bonds.

I have a whole video on mortgage backed securities.

But then there's a very fundamental difference in what the holder of the bond is doing.

So now I have this liability.

So this is my vault.

And so when the Federal Reserve or any Central Bank prints money, and it buys debt, it goes out into debt markets and it buys it, it usually buys the safest kind of debt, but that affects all of the debt markets, it goes out and buys in the debt market, they're essentially shifting the supply curve of money to the right, they shift the supply curve to the right.

Now, for those of you who may not be familiar,

bishop?

Let me draw that. My equity... I have 100 gold pieces.

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And we came up with this idea of issuing bonds, press freedom bonds.

And we learned that debt securities are often called bonds.

My next presentation, I'm going to take it to a further

So that's what we're going to show you in the presentation on collateralized debt obligations.

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that rectangle is much larger than it should be relative to 1,000, but I think you get the point then I'll do I'll have a liability here that says five gold pieces bank note outstanding.

And because it's a junkier rating, no one is going to want to buy it.

Takeo felt in his pocket for the ticket.

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