Alright I got it (like the same day)... Just to help anyone in the future, I will explain it here:
There are two types of video signals that people, like me, get confused with: composite video and component video.
Composite video is the old-fashioned type which consists of the yellow cable by itself, while component video is the "better" type where it consists of three cables: red, blue and green.
If you have a receiver with a composite signal (YELLOW for video) only, and a TV with component input jacks (RED, BLUE and GREEN), then connect the composite (YELLOW) video jack from the receiver to the GREEN jack of the component input on the TV... this should work.
EDIT: btw, composite video allows up to 480i (I believe), crappy resolution anyway. Component video on the other hand allows for HD resolutions.