Time for eurozone to reach for the gold reserves?

The author raises a legitimate question, but still doesn't understand this fundamental principle:

"Gold is money.  Everything else is credit." - JP Morgan, testifying before Congress in 1912

http://www.ft.com/intl/cms/s/0/80a239a6-f2c2-11e1-8577-00144feabdc0.html#axzz258phTXvZ