Although your concept of the monetary system is basically correct, it is possible but perhaps not feasible or desirable to pay off a national debt. There was a point during the Clinton administration in the United States where taxes were greater than government expenditures, which reduced the national debt. However, the situation did not last and the United State's national debt is growing at an alarming rate.
Governments use national debt to spend money they don't have, much like your example of banks loaning more money than they have on hand. Theoretically this increases the money supply which in turn spurs spending which spurs commerce which generates more tax revenues and everybody wins. However when players pocket the money instead of spending it, the system breaks down and debt increases.
Since money is now just a concept with no gold or other real property backing it really doesn't matter. The PracticaL Mentor.
I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.