Our markets are disgustingly being destroyed by CFD's adn shorters......
According to Southern Cross Equities, the Australian equity market has about $43 billion of covered shorts, or around 4.3 per cent of the market capitalisation of the S&P/ASX 200 index.
By comparison, the broker is surprised that open shorts on the New York Exchange, at 4.6 per cent of US market capitalisation, are "only slightly higher than open shorts in Australia (as a percentage of market capitalisation) during a US financial meltdown".
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