They’d swiftly discovered, however, that the scale of black money was titanic. The black-market wealth in tax evasion, kickbacks, official corruption, theft, embezzlement, arms, drugs, prostitution, barter, and off-the-books moonlighting was far huger than any conventional economist had ever imagined. The global ocean of black money was so vast in scope that it was instantly, crushingly obvious that the standard doctrines of conventional finance had no workable contact with reality. Economists who’d thought they understood the basic nature of modern finance had been living in a dogmatic dreamland as irrelevant as Marxism. After that terrible revelation, there’d been savage runs on most national currencies and the stock markets had collapsed.