Description

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The father of the exchange equation and author of the standard work on the theory of interest, the mathematician and Professor of Economics at Yale University, the late Irving Fisher, LL.D., in 1935 published a lesser known book, highly controversial at the time, and now purposely forgotten: "100% Money. Designed to keep checking banks 100% liquid; to prevent inflation and deflation; largely to cure or prevent depressions; and to wipe out much of the National Debt." The book made the renowned professor emeritus an outlaw in the eyes of the moneyed class in the United States, but he was acknowledged by John Maynard Keynes at Cambridge and is mentioned referred to in the indices of Keynes' General Theory and Tract on Monetary Reform. Fisher's private wealth sustained him. The present work places Irving Fisher's 100% Money into the framework for a solution to the Global Financial Crisis of 2007 which is ongoing until governments take back their constitutional money power which has been given away to private bankers for nothing in return but a burgeoning public debt.

About the Author

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Michael Schemmann, Ph.D., CPA, CMA, Professional Banker, University Professor of Accounting and Finance