Savings bonds.

They're savings bonds.

So a security in the equity world is a stock.

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

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.

It can do it through debt or equity.

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

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

Finance, you type in the ticker symbol and you get the price for that day.

And we said there's different kinds of debt.

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

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

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

You can send away for all this stuff here.

Today we're out of the deficit hole Mr. Romney left, and we've achieved the highest bond rating in our history.

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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.

I have a whole video on mortgage backed securities.

And we learned that debt securities are often called bonds.

And what is a bond?

So first, a little bit of definitions.

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

T bill if it's a shorter duration,

Currency and bond markets are relatively calm.

I feel secure when I invest in stocks but not bonds.

There is a price.

And the environment might be things like the stock market or the bond market or the commodities market.

So what you do is you have, let's say, the 6 million.

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.

And let's visualize what a bond certificate could look like.

But you should watch the videos on mortgage backed securities and collateralized debt obligations, if you want to get a better understanding of exactly how the money flows go.

So it's essentially this is an IOU from Company XYZ.

Once you have all of that put together, there's not one reason why you couldn't actually have a marketplace for all of that, where you cannot dispose of all of those bonds in a pretty quick way.

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

Do you have today's tickets?

You would get 100 million.

And this pension fund had the same problem.

This guy is doing the same thing.

ROMEO What, shall this speech be spoke for our excuse? Or shall we on without apology?

And I kind of jumped the gun a little bit.

The letter turned out to be a boarding pass dated for one year later, but I couldn't make out the destination.

So the 300 million from equity, they're going to get 55 million assuming that there are no defaults or pre payments or anything shady happens with the securities.