The Globe and Mail reports in its Thursday edition that Brett Oland, chief executive officer of Alberta's Bow Valley Credit Union (BVCU), claims the province's regulator overseeing his business has accused him of being a threat to the national banking system. The Globe's Carrie Tait writes that BVCU is stockpiling gold and silver, in vaults in hopes of shielding its members against an economic doomsday in which a big bank collapses. Mr. Oland predicts, "Inevitable devaluation of the currency, as well as inflation, as far as the eye can see." Credit Union Deposit Guarantee Corp., which oversees Alberta's 13 credit unions, told him to cut it out. "The regulator stepped in and basically said: Cease and desist. You're a systemic risk to the Canadian banking system," said Mr. Oland. He told this story while pitching BVCU to about 100 people at a Take Back Alberta meeting in Lethbridge late last year. Mr. Oland said BVCU sold the precious metals it had in the form of bars and stopped using phrases like "gold-backed." The regulator demands that metals reflect the Royal Canadian Mint's face value, which is $5 for each silver coin and $50 for the gold ones. Fair market value would substantially bolster its balance sheet.