Bearer bond

A bearer bond is like a special type of paper that promises to give you a lot of money in the future. But unlike most kinds of paper money, you don't have to write your name on it. That's because whoever is holding the paper when it's time to collect the money is the one who gets it.

It's kind of like a game of hot potato. Imagine you're playing with a hot potato and you pass it around until the music stops. Whoever is holding the potato when the music stops is out of the game. With a bearer bond, whoever is holding the paper when the money is ready to be collected is the one who gets it.

This type of bond can be super useful for people who want to keep their financial transactions private. That's because since there's no name on the bond, it's much harder for people to keep track of who owns it.

However, bearer bonds are not commonly used anymore because they can be used for illegal activities like money laundering, tax evasion, or even funding terrorism. So, most countries have stopped issuing them or made it illegal to use them.