They still hold gold and right now the Federal Reserve System has about eleven billion dollars of gold.

他们仍然持有金子,并且现在，联邦储备系统拥有价值,一百一十亿美元的金子。

耶鲁公开课 - 金融市场课程节选

Then, the value of the subprime loans that the municipal bond insurers own starts to go down.

接着,市政债券保险公司,持有的次级贷款价值开始下跌

耶鲁公开课 - 金融市场课程节选

They never kept all the gold for all the dollars that they issued so you could say it's still backed by gold. The really important thing is it's not convertible into gold.

他们从不持有所有的发行过的,货币价值的金子，所以你可以说它是,被金子支持的，真正重要的在于,它不能转换成金子。

耶鲁公开课 - 金融市场课程节选

The value of real estate in the United States today is -of real estate owned by households directly -is about twenty trillion dollars, which makes it comparable or maybe a little bit bigger than the stock market.

现今美国房地产的价值,也就是居民直接持有的房地产的价值,大概有20万亿美元,这与股票市场总值相当,可能还要更大一点

耶鲁公开课 - 金融市场课程节选