Let's say that the sovereign wealth fund never happened.

Where the sovereign wealth fund will essentially inject some cash.

No sovereign wealth fund, no one else bought the company.

And it got bailed out by the sovereign wealth fund.

So the sovereign wealth fund will take over roughly 80 of the company.

No one wants to jump in and give them equity, no sovereign wealth fund.

It had to go to, maybe it was the government of Singapore's sovereign wealth fund.

The other situation is maybe they can get an equity infusion from a sovereign wealth fund.

So let's say the sovereign wealth fund, they're going to buy 2 billion shares at 1.50 per share.

Because the sovereign wealth funds have gotten burned so much.

It's someplace in between our old book value and the price that the company paid, or the sovereign wealth fund paid, 1.50 per share.

So we talked about those situations with the sovereign wealth funds.

Where the sovereign wealth fund comes in, in that example they bought 3 billion worth of equity, and they gave 3 billion worth of cash.

So you go to some sovereign wealth fund, and that's just a way of saying some foreign government that's been collecting dollars because they've been selling us oil or cheap manufactured goods.

Sovereign of humans,

The Sovereign of mankind.

So people who want to manage your wealth, stock brokers, mutual fund companies, anyone who can advertise.

Hedge Fund 1.

Pete's mutual fund.

Then you could have another pension fund, Pension Fund 2.

Sovereign of the Day of Requital.

Sovereign of the Day of Recompense.

All of these sovereign wealth funds, they've got burned, because they invested in Citibank last year and the stock just continued to plummet.

The sovereign completely recovered from his illness.

It's the IMF Sovereign Bankruptcy Plan, OK?

Thus, citizens were guaranteed to remain sovereign.

Although I'm heartily attached to our sovereign,

Singapore's Central Fund provides pensions.

He's good at fund raising.

They'll fund anything these days.

And a closed end fund

So that's me, pension fund.

I am a pension fund.

Supported by JAPAN ARTS FUND

In the previous example, I had Pension Fund 1, that was my pension fund.

That's not wealth creation. It's wealth redistribution.

Queen Victoria was the sovereign of Great Britain.

In a good seat, near a Sovereign Omnipotent.

Wealth, women.

IMF stands for International Monetary Fund.

So now the fund has 500.

It could be a hedge fund.

And this is Pension Fund B.

He has a fund for orphans.

My rainyday fund. Sixtyeight thousand, okay?