CGC Appointment

[Incognito]

We also get paid to think:

Prices have almost doubled this year.

1) Do you think the industry's bonds have doubled?
2) If a large % of the industry was short on their bonding requirement, do you think the Feds would send you a memo?
3)Does the bonding requirement satisfy 100% of the value of your grain?

Answer yes or no to each question. Tally your answers.

(1) no and you can keep being oblivious.
(2) nos and you should worry.
(3) nos and you should sleep with the light on.


Your security blankie is so bare you can see thru it.

Do you buy a new blankie or chance freezing your nuts off this winter waiting for the gov't to save them for you?

[TOM4CWB]

Incognito,

Think about this!

* 1.)* The value of the
GRAIN
THAT is the main asset used to back the CGC Bond has also DOUBLED.

* 2.)* When there is a Quality Problem with a shipment... who is the first to know... The CGC. The very fact every one knows this... keeps much of the industry; growers and trade alike... SELF REGULATING and Honest...

Without the CGC having ever said a discouraging word!

Since it is against the "Privacy" Statutes and is "commercially sensitive" information that I am not allowed to look at in any event; I have "due diligence" requirements to fulfill and not do plainly STUPID sales that I know will run a 95% chance of not being paid for!

Better to Have growers phone the CGC and express the issue... which then alerts the CGC Security Dept. Something is UP!

In Ontario I understand the grower must register the sale with the Ag Security Dept... Perhaps we should do the same... if we feel integrity in our system is important... ? ... an online CGC Registry would cost how much? Self Administered... Lowest cost... Auto Tabulation through a firewall... would this be better than what we have now?

* 3.)* I often sleep with my "Light On" NOW. A blanket up grade is clearly in order... I agree the old blankie is worn and tattered... PERHAPS it is time we did something about this!

Leaving me without any Blanket at all... naked... Minus 40C... is not my idea of a reasonable solution... I would hope not yours either.

Incognito... there are very SIMPLE economical logical solutions to CGC Security issues.

It is VERY productive to have this discussion!

God Grant us the wisdom to change the person I can... the common sense to know it is US... and the decency to be the true leaders who care about those that have entrusted ...US... with the Administration of their business!

Isn't this what a

...Democracy...

that respects

...Private Property...

Is all about?

[Incognito]

This is how it used to be calculated:

In the valuation of grain at month end, CWB grain - valued at 100% - Non-Boards - valued at 75%.

Grain prices double - CWB grains are not moving - how many bonds are short?


You don't have a blankie now - you just don't know it.

[parsley]

Kodiak:

"We’re a long way from depositors taking a direct hit.", is what you stated. I have to make the comment that it is the indirect hit that ordinary borrowers will take on the chin that will ultimatley hurt them, and ultimately hurt CIBC.

Their CEO cannot keep making bad deals and keep passing the losses onto the backs of depositor's. It is too easy to move cash to the Bank of Nova Scotia. or ING. 'tis so,... press Enter.

wmoebis, incognito claims you get paid to think. True. A clearer way to say it is that you lose money if you don't think for yourself.

BUT.... The problem farmers have is that we have paid people, often elites, to think for us, and they have done the thinking, but unfortunatley, not in the interest of farmers. We have to think for ourselves.

And if elites' thinking occasionally has been in the interest of farmers, the message has not been well communicated to farmers.

IMHO, they think we're too dumb.

Parsley

[parsley]

wmoebis,

And one thing I forgot...often the so-called "thinkers" enjoy being cutting and taling down to farmers.

Parsley

[wmoebis]

Yes Parsley and I have stated in other posts the thinkers we have in place now believe that producers are "suppliers to the industry".

Even tho absolutely every dollar generated in the industry comes right out of we producers pockets. It is not a matter of "if" we will pay it is "How" we are willing pay and for what kind of service.

That ultimetly should be up to us.

[parsley]

Pinpoint which grain in 2007 garnered you the least amount of dollars compard to what was being paid in the world.

Surely you would agree it was wheat and barley.

Examine the "thinkers" in place that govern wheat and barley.

Surely you would agree it is the appointed and elected Board of Directors. Surely you would agree that the elected Directors have the majority of votes.

Examine the most egregious policies they continue.

Surely you would agree it is lack of value-adding.

Surely you would agree it is spending from the pooling accounts as if they were unlimited ocean waters.

Paying for staff stress? Good grief. Paying for Liberal fundraisers? Good grief. Paying for NAFTA court cases? Good grief. Handing out money to China? Good grief.

You believe that farmers are acting on behalf of farmers? They do not when the institution is run by Government. The farmers act on behalf of political parties. Read again what Kodiak wrote. It should interface every permit book.

Think another step ahead. What have farmer-directors accomplished? Value adding? Nope. Individual felling into high priced niche markets? Nope Better relationships with industry? Nope Farmers closer to their customers? Nope Expanding industry? Nope Good public relations? Nope Better status in the world? Nope Younger farmers wanting the CWB? Nope

I will concede the CWB is a good stepping stone for running for elected office.

Good for farmers? Absolutely not.You are the CWB staff's monetary prisoner.

Parsley

[TOM4CWB]

Incognito,

If my non-board grain is still in the primary elevator inventory... IT IS STILL MINE. I have the RIGHT to ask for it back, pound for pound, same grade/quality I delivered.

http://www.grainscanada.gc.ca/Regulatory/CGCAct/2005/cga-e.pdf

Canada Grain Act

Part VII

GENERAL
Cash Purchase Tickets and Elevator Receipts

Restriction on creation of charge or interest

"112. Notwithstanding anything in the Bank Act, no charge on or interest in grain referred to in an elevator receipt that affects the interest of the holder of the receipt may be created by the holder, or by the operator of a licensed elevator who issued the receipt, other than by the endorsement or delivery of the receipt to the person in whose favour the charge or interest is created."

Incognito,

It is after shipping out of province that the issue of integrity occurs. Ever try to get grain back that is sitting in port 2500 miles away?

Provincial security schemes in Inter-provincial Trade, without Federal Jurisdiction... will be weak at best... and likely to be useless/worthless.

[Kodiak]

Parsley, CIBC depositors won’t be paying for the possible missteps of their management. Why? Because, thankfully, the CIBC doesn’t have a monopoly! If the CIBC tried to pass their losses to their customer, the customer is gone. Right now.

So who pays? It’s pretty much going to be CIBC shareholders. First, the possibility of a healthy dividend disappears as EPS drop, and following knowledge of that, in a split second the share value drops.

If their service fees or the interest they pay on deposits gets out of line with banks that haven’t made the same mistakes, the money and its owner moves. No buybacks. The situation in banking presents us with a world of difference from wheat and barley marketing. Ever try and take your milling wheat or malting barley business elsewhere?

[TOM4CWB]

Kodiak,

Canadian Banks make massive profits... just like the US Oil Co's.

On BNN they were saying that Exxon is making 1 Trillion Profit in the same time that the Ethanol Industry will receive 13.5 Billion in "Incentives". I believe the date was 2020.

How much profit do the oil co's and banks make... and out of that... how much Federal and local taxes do these co's pay?

It is massive!

When CIBC takes a 3.5B write down... it costs us $1.75B in taxes!

This certainly affects more than just the shareholder... the taxpayer must pay more as well!

It is just plain STUPID that CIBC was allowed to buy both the subprime debt... and the insurance system that was to prevent a collapse.

Now up to 3 million US homes/families will be going into foreclosure... Because proper regulation and care of assuring a stable sustainable market was not properly regulated. The Fed did not do its Job...

NOW

ALL of us will pay. You know we will. We always do!

Just like with Vehicle theft... the 160,000 vehicles stolen in Canada, mostly by organised Crime, each year costs us all on average $40/vehicle extra for insurance! Proper Federal Regulation installing immobilisers can cut this to almost nothing!