Thou living ray of intellectual fire -- An idea in the rough -- Some kind of an education -- Living up to the model -- Tortuous economic intuition -- The money wars -- Global reach -- Stagflation -- Changing fields -- What do traders do? -- Exploring general equlibrium.

The past two decades have seen the construction of a tiered system of international liquidity provision, the first tier including those whose credit is sufficient for a swap line with the Fed, the second tier including those who can offer acceptable collateral to the Fed, and the third tier...