Those Pesky Credit Default Swaps; Greece, Iceland, Gold

The New York Tines must be reading my mail. I have long been harping about the danger Credit Default Swaps, otherwise known as CDS (I have described what these are before so you must know what they are: insurance mostly on sovereign debt, but they have also infected currencies and a variety of financial instruments). Now the Times is reporting that there are renewed concerns... http://www.certifiedassets.com/inv/news/those-pesky-credit-default-swaps-greece-iceland-gold/