How Bonds Are Registered (If They Are Registered At All)
There are two ways bonds can be registered:
Principal-Only: The bonds themselves (the principal part that gets repaid a decade or so down the line when the bonds mature) are registered in the name, address, zodiac sign, and so on of the buyer. However, the coupons – or stream of interest payments are just in bearer form. Whoever has ‘em, owns ‘em. These relics are no longer issued.
Fully: Both the bond itself and the stream of inter...
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