Shalek (November 30, 1999 at 12:00 am)

Sal sounds like wraith!

peleok1 (November 30, 1999 at 12:00 am)

Sal for president!

LieDownAndSing (November 30, 1999 at 12:00 am)

at first i tot somethings wrong wif my speaker lol

clray123 (November 30, 1999 at 12:00 am)

@1980littleboy Regardless of commodity backing money is a legal tender in the sense that you can get government services in exchange for it. So figuratively, you can say it's backed by the soldier, the policeman, the doctor, the fireman, essentially anyone employed by the government, and of course also by the goodwill of all other (private) users. When push comes to shove, I would certainly prefer to have my money backed by a guy with a gun rather than by a shiny metal.

clray123 (November 30, 1999 at 12:00 am)

@ojdidit34 What Sal doesn't mention is that loans normally have a collateral. To obtain a loan, D must first prove his creditworthiness somehow - either by convincing the management that his project is uber-excellent or (more realistically) by temporarily transferring some of his property to the bank. This property forms the "collateral", which can be taken away from D by the bank in case he doesn't pay back the loan.

clray123 (November 30, 1999 at 12:00 am)

@kourosh89 Wikipedia: "Formally, shareholders' equity is part of the company's liabilities: they are funds "owing" to shareholders (after payment of all other liabilities); usually, however, "liabilities" is used in the more restrictive sense of liabilities excluding shareholders' equity."

kourosh89 (November 30, 1999 at 12:00 am)

Is equity a liability???

tIs4gatorbait (November 30, 1999 at 12:00 am)

Twilight zone

juliusreea (November 30, 1999 at 12:00 am)

why on previous videos loans for investments were on assets side and now(loan)  they appeared on liability side?

mustafasohail456 (November 30, 1999 at 12:00 am)

how sal knows many things