Interesting and funny article.

However I feel that any discussion of the economic problems in the Eurozone that does not discuss fiat money and fractional reserve banking, lacks competence and is actually part of the problem.

It is no good to attribute the problems to quirks of Greek national character, or to talk of Germany "financing" other countries, or to talk of "money" being lent here and there. Of themselves, these do not produce financial crisis.

What produces the financial crisis is the policy of cheap credit based on fractional reserve banking. This causes a host of destructive consequences: inflation, malinvestment, favouring paper profits, disfavouring productive activities, from which we get the artificial boom, the genuine bust, unfair favours to big corporations, the banks' licence to print money, and the shell-game by which governments try to avoid the consequences of their actions by endlessly trying to pass the buck to someone, anyone, down the line.

The whole disgusting spectacle may be funny, but the lesson should be driven home. This crisis is not of mysterious origin, and is not something inherent in the nature of finance. It is caused by central banks. It is is unnecessary, corrupt and anti-social. Their claims to increase society's wealth are false. Their claims to stabilise the currency and promote employment are false. In fact they do the opposite and they should be abolished.

Yep, finance is the latest "get rich quick" scam that involves wealth without productive work.
For every dollar made buying and selling, some poor worker has to create the wealth. Those who revel in the profits made during the credit expansion must remember they are just stealing from the wider economy...without real work the profits must come from another source and *that* is the core essence of the "occupy" movement...what a pity the anarchists, nihilists and assorted ratbags have spoiled the message.
So fiat money, excessive private credit which was transferred to the public system via bailouts, and massive profiteering from unproductive industries are the root "causes" of the GFC.
The media does not even brush the surface of the real issues.