Chris Kuflik - ScotiaMcLeod Montreal

The ‘Currency Wars’ taking place have dominated the financial press as of late. Now that the latest Economist cover has addressed this issue, it is time to prepare for its eventual demise. There is another ‘War’ - read protectionism, that is just beginning to heat up… Metal Wars.

In September Ben Bernanke discussed “potential negative shocks” as the rationale for an unusual pre-announcement that the US Fed stood ready to execute another massive round of quantitative easing dubbed QE2. The timing of the announcement was suspect, to say the least. There is a potentially large storm brewing in the US financial system that I hope can be avoided.