But the idea of gold is merely an abstraction, and abstrac- tions can be created from nothingness. Mere writings on a piece of paper, bookkeeping entries, promissory notes, or engraved certifi- cates are sufficient evidence of this brilliant abstraction.
There is only one difficulty: abstract ideas are like soap bubbles, absolute and perfect in their beauty and symmetry, a totally enclosed and unified system—but when you try to touch them they disappear.
The medieval alchemist failed because he foolishly tried to manu- facture real gold from nothingness, but the modern money doctors think they have succeeded because they have gone beyond real gold to what they think is the far more impressive concept (mentally) of the idea of gold. The common money of the United States, the Federal Reserve The Color of Gold 55 note, and the proposed new international money or "drawing rights" controlled by the IMF are just such abstractions.
