The IMF paper “The Chicago Plan Revisited” by Jaromir Benes and Michael Kumhof has acquired a cult following. The paper takes on fractional reserve banking and, according to Steve Keen, this is the first theoretical neoclassical paper to acknowledge the actual nature of banking, and to take this into account in a mathematical model. We talk to economist Steve Keen about how the paper addresses the perception of banks as intermediaries between savers and borrowers. Plus, the Financial Stability Board report released last Sunday found that the shadow banking industry has grown to about 67 trillion dollars, 6 trillion more than previously thought. The report also describes the 41 trillion dollar growth in the shadow banking system between 2002 and 2011. We ask Steve Keen about the sustainability of this debt and what happens when the system begins to unwind.