It has been difficult for me to get comments on the huge derivatives bubble from bankers, politicians or most people with whom I discuss it.

I agreed with Sussan that   CEC’s claim that the only solution is Glass Steagall is incorrect. However, I am pleased to quote CEC when they said:

‘Do Big Five banks fear levy will expose derivatives danger lurking beneath their books?

‘The Big Five (Big Four plus Macquarie) banks are frantically trying to get most or all of their derivatives obligations excluded from the government’s levy on their liabilities.’

Even mainstream media is starting to mention the taboo word ‘derivative.’ Now Michael Roddan of  ‘The Australian’ on 15th May has started an article with:

Commonwealth Bank and National Australia Bank have warned the new major bank tax could cause “severe distortions” in financial markets, including in the risky derivatives market..

NAB chief financial officer Gary Lennon said  “NAB believes the levy is poor policy and, accordingly, does not support it,”

CBA and NAB asked that the levy not apply to the bank’s high quality liquid assets or long-term debt assets, as it would reduce the incentive to hold these assets, which ground against guidelines given to the lenders by the prudential regulator APRA.

My suggestion to Sussan is that she can become a hero if she advises the ‘Area News’ that the Government is not intimidated by the banks and will insist that thy pay the levy on their uncontrolled derivatives bubble.

Anyone who can access the internet will be able to see the table on page 10 of APRA’s table of ‘Prudential Standard CPS 226’ which calls for each of the Big Four to reduce their derivatives to $4.5 trillion by 1st September 2017.

The Government can assist APRA in achieving this. 

Brian Mills, Griffith.

The World Health Organisation (WHO) has declared 31 May "World No Tobacco Day". Bravo!

We've known about the link between smoking and cancer for more than 60 years, and any opportunity to remind people to quit is welcome.

But let's not forget that meat, which is much more widely consumed than cigarettes, can also be deadly.

The WHO ranks processed meats as group 1 carcinogens – bacon, ham, and sausages are now in the same category as asbestos, alcohol, arsenic, and tobacco as a major cause of cancer, while red meat more generally is in the 2A "probably carcinogenic" category.

The International Agency for Research on Cancer concluded that each 50-gram portion of processed meat eaten daily increases a person's risk of developing colorectal cancer by 18 per cent.

Research also shows that meat-eaters are about 40 per cent more likely to get cancer than people who eat plant-based foods.

Millions of people have improved their health and longevity by quitting smoking, and millions more would live longer and better if they gave up processed and other meats.

And there's an added benefit: they would help end the confinement, torment, and killing of billions of sentient creatures each year for a taste sensation that lasts no longer than a smoke.

Laura Weyman-Jones, PETA Australia

National Reconciliation Week is held annually on May 27 to June 3 in celebration of Aboriginal and Torres Strait Islander culture and to nurture and grow on the relationships shared by Aboriginal and Torres Strait Islander people and other Australians.

It is important to recognise that Indigenous history and culture is Australian history and culture.

These two dates hold great significance to Australians as they represent two major events in our nation’s reconciliation journey. 

This year is especially significant for indigenous rights as May 27 is the 50 year anniversary of the 1967 referendum where Australians voted overwhelmingly to amend the constitution to include Aboriginal people in the census and allow the Commonwealth to create laws for them.

2017 is also the 25-year anniversary of the Mabo decision, where the High Court of Australia decided that terra nullius should not have been applied to Australia.

The landmark decision recognised that Aboriginal and Torres Strait Islander peoples have rights to the land – rights that existed before the British arrived and can still exist today.

Australia’s mistreatment of Indigenous Australians is a national shame. 

These two cases are significant in our attempt to rectify our wrongdoings; however our journey to complete reconciliation is far from over.

My organisation, Youth Off The Streets takes great pride in reconnecting young Indigenous Australians with their history and culture. 

I employ Aboriginal youth workers and case workers to connect to young people and encourage them to be proud of who they are and where they come from.

This reconciliation week I implore all Australians to get involved in your communities reconciliation events. 

I invest in the Aboriginal youth of today, so they can be the leaders of tomorrow.

 Father Chris Riley, Youth Off The Streets CEO.

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Send a letter to the editor to ben.jones@fairfaxmedia.com.au