How credit cards become asset-backed bonds
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Good video!
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The entire financial system is a Sham and a fraud...
End the FED
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I buy credit card-backed bonds :)
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Love this guy, he explains the most complex fiance alchemy in such good laymen terms
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The metaphor with the bottle - and the pyramid of glasses of is very insightful and intuitive.
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where do you buy these bonds from? Are they traded on an exchange?
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I really enjoy your teachings! I am somewhat new (embarrassed to say) to the investing world but I understand you perfectly. Please continue to provide the wonderful service that you do.
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This video he is not for nor aginst credit cards and the debt they place on socity with intrest. He is mearly explaining how companies change cc debt into something that can be traded backed by collateral. Which is what really happens in the market everyday. Dont change the subject. Credit cards, loans, and debt exist. It is a way of life we have created and may have to pay for in the short future but the more the public knows about how the economy works the less "in need of a drink" we will be.
4boston86 3 years ago 8
Top marks, Paddy. There is a lot of information out there, but none of them employed such useful and easy to understand metaphors as you did in this video. It's exemplary, I find, that the senior editor of Marketplace has managed to explain this phenomenon in a way that anyone might be able to understand regardless of their background. Far too many media outlets have lost sight of smaller investors and ordinary citizens.
ZenSlider 2 years ago 5