CANADA Must Ban Credit Derivatives as Traders Demand Gold
Canadian MP's ,Senate, and bank regulators should act immediately to abolish credit default swaps in Canada, because these derivatives will foment distortions in global currencies and gold. Failure to act now will only mean Canada will be forced to act after these "financial weapons of mass destruction" levy heavy casualties(as they have in Greece, Italy, Iceland and 20+ other nations destroying the country). These obligations now settle in euros, but the end game is to settle them in gold. This is so ripe for speculative manipulation that you might as well cover the map with a bull's-eye. Credit default swaps are not insurance.THEY ARE A SCAM!! If you buy fire insurance on your home, you must own the house. If you buy credit protection on the markets, or on Canada however, you do not need to own ...ANYONE CAN SEE MR HARPER MADE A MISTAKE ALLOWING THIS PRACTICE, AND ALLOWING GOLDMAN SACHS IN CANADA!!!!!
HARPER wants to "open Canada for business" he is an idiot ,Harper thinks because he received a degree in economics he is savvy but his degree is toilet paper. PM Harper is either colluding with the enemies or he is the most stupid, non observant leader Canada has ever had. Even a child on hearing this story on the news knew and commented "that sounds crooked"