Irving Fisher's (1935) classic "100% Money" and the "Chicago Plan" are offering solutions to current problems, are revisited, discussed and critiqued. At the time of publication (March 2015), the Greek national debt and the currency of the Euro Area are in issue. National Debts are incurred by misconceived, if not corrupt, ministers of finance and bureaucrats at their central banks, yielding to private commercial bankers who are creating the money out of nothing. The national debts can be repaid at a stroke of a pen, instead are resulting in needless austerity programs, currency failures, leftist governments and noisy demonstrations on the streets, instead of taking back the banks' illicit money creation in violation of generally accepted accounting principles and concepts of IFRS, and giving it back to the people. Jaromir Benes and Michael Kumhof (2012), both economic researchers at the IMF, have run Irving Fisher's 100% monetary system through carefully calibrated models and found support for each of Fisher's beneficial claims: (1) Smooth business cycles; (2) Stable banks; (3) No national debt(s); (4) Stable debt-free money supply created by a public authority instead of private banks. The tests revealed an additional benefit: (5) A 10% national output gain with zero inflation.

This book talks about money, wealth and the national debt that created it. It predicts financial Armageddon by 2020 if nothing is done, and nothing will be done because "a capital levy provokes violent prejudice by coming into conflict with the deep instincts by which the love of money protects itself." (John Maynard Keynes) The public sees money and banking as highly complex sophistry whereas in fact the creation of money is so simple that the mind is repelled, using John Kenneth Galbraith's words. Professor Galbraith also said: "The final thing, in economics, is to have one great truth always in mind. That is, that there are no propositions in economics that can't be stated in clear, plain language. There just aren't." "Do not be alarmed by simplification, complexity is often a device for claiming sophistication, or for evading simple truths." The book analyses the wealth structure of America and finds the top 10% of the population owning 70% of the nation's wealth. This top 10% -- the five million millionaires and billionaires -- would be the prime segment of the US population to receive a capital levy to fund a loss equalization fund from the cancellation of a national debt that created their fortunes, without any fear of a recession. National debt redemption alternatives are discussed, including an in depth review of Germany's successful monetary reform of 1948 based on the American Colm-Dodge-Goldsmith plan imposed by the Allied military governments. The book reflects on the involvement of the Federal Reserve, the Bank of England, the European Central Bank and other central banks concerning their countries' burgeoning public debts, in particular that of Japan. The preferred alternative debt redemption would involve the Fed in a form of permanent quantitative easing.