Just watched Die Hard and in the film the excellent antagonist Hans Gruber is trying to steal over $600 million in German bearer bonds from the Nakatomi corporation. It occurred to me that I have no idea what they are or why a company would have them.
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As far as I’m aware they’re effectively an IOU that banking/business collectives had an agreed upon value for. Allowed for large scale deals to go ahead without transaction/exchange fees. Now defunct since they were susceptible to theft & money laundering.
You can think of them as a parallel to crytpo currency – an alternative ‘coin’ for trading purposes – but without the digital verification
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