I feel like we just got to live through an old piece of history all over again ... so I'll share my rendition of it.
https://bitcointalk.org/index.php?topic=375643.0
"Base money is a liability of the central bank, and it’s used as a reserve asset by commercial banks. Broad money is the liability...
"If your local energy cost is effectively zero but you cannot sell your energy anywhere, the existence of a global buyer for energy is...
"It is understandably difficult for most of us to imagine a monetary world aside from the one in which we've lived for generations. After...