Have you ever had a “light bulb” moment? A moment when a huge amount of
information just falls into place like the pieces of a puzzle spontaneously rearranging
themselves into a clearly recognizable image? Here’s a passage that did that
for me a couple of days ago:
The two
extreme types of monetary systems are: the 'realist' under which each unit of money has, as a
counter-part in the balance-sheet of the bank that has issued it, an asset that
can be sold on the market for an equal value; and the ‘nominalist’ under which
money is nothing but a token, void of substance. All the systems that have been, are, or will be in force range
somewhere between these two models. (my
emphasis)
