I don't know what "Money, Media and Power," is, but there are actual economists who are critical of the fractional reserve system. Mostly, they are of the Austrian School, but there are some Neo-Classicists (mainstream) economists who see problems with a system that allows banks to loan out money that they don't have.
You are right. His comment was off in left field though: "fractional reserve banking invariably increases inequality" - something he even goes so far as to label a "fact" (citation needed!). I think if you run the data, you would not find such a correlation, and that things like taxation and redistribution policy are more correlated to the gini coefficient. In any case, there are appropriate forums for the discussion of these things (like peer-reviewed journals) where knowledgeable people can comment.
If you ever looked at the projections of the gini index you would already know that the middle class will soon be a thing of the past. That's an obsolete argument, my friend, and I would encourage you to not participate if you don't want to encourage a debate on the economics (considering this thread was voted up by the HN community and has to do with economics and not startups).
