1/2 cup unsalted butter, 1 stick
3 large onions, thinly sliced
2 tablespoons minced fresh thyme
2 tablespoons flour
4 cups water
1 1/2 cups beef broth OR dry white wine
1/4 cup soy sauce
2 tablespoons honey
1/4 teaspoon freshly grated nutmeg
1 to 2 cups shredded or grated Swiss cheese
Melt butter in large pan over medium low heat. Add onions and thyme. Season with pepper. Cover and cook until onions are translucent. Stir occasionally, about 15 minutes. Uncover. Increase heat to medium high. Cook until onions are brown and caramelized, stirring often, about 10 minutes. Reduce heat to medium.
Add flour to onions and stir until browned, scraping bottom of pan about 5 minutes. Mix in water, broth or wine, soy sauce, honey and nutmeg. Bring to boil. Reduce heat, cover and simmer until soup is slightly thickened, about 1 1/2 hours.
Can be made 3 days ahead.
Cool completely. Cover, Refrigerate. Rewarm before serving. Ladle soup into bowls. Top with cheese.
Makes 4 servings.