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Well if that happens then I don't think that we will see $47.00.
My theroy is that there are two things that drive the market.
Greed and fear.
And I think that fear is starting to overcome greed.
As Good As I Once Was
Enforcement Efforts to Deter Money-Laundering
CANADIAN MONEY LAUNDERING LAWS AND PROGRAMS
Bill C-61 establishes the criminal offense of "money laundering"; strengthens the ability of law enforcement to prosecute crimes involving the laundering of funds; establishes procedures to allow law enforcement to seize and freeze alleged proceeds of crime and establishes procedures to allow authorities to obtain forfeiture of property that is acquired with the proceeds of crime.
In Canada, an offender may be imprisoned for a term of up to 10 years and upon conviction, the Court may order the forfeiture of any property derived through the use of illegal proceeds.
This applies to anyone (e.g. financial institution or employee) who deals with any property with an intent to conceal or convert the property, and has knowledge that all or part of property is derived from an Enterprise Crime Offence (ECO) or Designated Drug Offence (DDO).
"Enterprise Crime Offence" and "Proceeds of Crime" in this context relate to proceeds obtained or derived directly or indirectly as a result of an offence against any of 24 provisions in the Criminal Code (e.g. arson, bribery) or against section 354 of the Criminal Code (possession of property obtained by crime) or being an accessory after the fact, in relation to, or any counseling in relation to, any of the above.
New Financial Transactions and Reports Analysis Centre of Canada
Legislation will establish an independent government body, to be known as the Financial Transactions and Reports Analysis Centre of Canada, which will be a central repository for information about money laundering activities across Canada.
The Centre will operate independently from law enforcement agencies, and the disclosure of information by the Centre will be strictly controlled. They will be authorized to provide key identifying information of suspicious transactions (e.g., name, date, account number, value of the transaction) to the appropriate police force if they have reasonable grounds to suspect that the information would be relevant to investigating or prosecuting a money laundering offence.
Reporting
Each financial institution has a senior officer responsible for anti-money laundering processes. In addition, an officer at each branch that deals directly with customers must be responsible for ensuring that money laundering deterrence and detection procedures are in place.
The Proceeds of Crime Act and Regulations require the completion and retention of a "large cash transaction record" for any receipt of cash in the amount of $10,000 or more for a period of five years.
Some examples of cash transactions are cash deposits; any request to purchase, for cash, travelers cheques or drafts; any request to transmit cash to some other branch or financial institution in or outside Canada.
Regulated financial institutions, casinos, currency exchange businesses, as well as other financial intermediaries (such as lawyers and accountants), will be required to report any financial transactions that they have reasonable grounds to suspect are related to a money laundering offence. It is proposed that cheque cashers, money order vendors; and money transmitters be required to provide reports as well.
The maximum penalties for failing to report suspicious financial transactions under the Bill include fines of up to $2 million and imprisonment for up to five years. People are exempt from civil or criminal liability arising from the disclosure of information regarding suspicious transactions to law enforcement authorities, which in turn should be reported to the Local Proceeds of Crime Section of the Royal Canadian Mounted Police without delay.
Sample of Declaration Required
I/we declare that the source of funds for the above transaction is as follows:
Consent is hereby given to this financial institution to disclose this transaction to law enforcement authorities.
Client Signature Prepared By (Signature, Title)
Authorized Officer (Signature, Title) Date
Reporting of Large Cross-border Movements of Currency
Individuals and entities that import, export or transport large amounts of currency or monetary instruments across the Canadian border will be required to report such activities to a Canada Customs officer.
The United States requires persons transporting currency or monetary instruments over US $10,000 to file a report with U.S. Customs. It is proposed that C $15,000 be adopted for Canada and include traveler's cheques and other bearer instruments such as money orders, personal and cashier cheques and securities.
Canada Customs will have the authority to retain currency or monetary instruments for a prescribed period of 70 days before they are considered to be forfeited to the Crown.
The regulations provide for the mandatory return of the seized currency or monetary instruments on payment of a prescribed penalty, unless the officer suspects the currency is proceeds of crime. The prescribed penalty for non-reporting, when there is no reasonable suspicion of money laundering, would have fixed penalties ranging from $250 to $1,000, depending on the circumstances, including whether the person is a repeat offender or not.
Use of $1000 Bills
Large-value bank notes make it easier to conceal large sums of money for movement inside and outside the country. Compared to all other denominations, $1000 notes are disproportionately used for money laundering. Removing the $1000 note from circulation will make it more difficult for this illicit activity to take place.
There are about 3.8 million $1000 Canadian bank notes in circulation. This accounts for less than one-third of one per cent of the total number of notes in circulation but represents about 10% of the value of all currency in circulation.
Existing Canadian notes will gradually be withdrawn from circulation but individuals will still be free to hold and use those $1000 notes that remain in circulation. They will retain their status as legal tender for their full face value.
AMERICAN MONEY LAUNDERING LAWS AND PROGRAMS
Money Laundering Control Act
The Money Laundering Control Act (MLCA) makes money laundering a federal offense, punishable by prison sentences of up to 20 years.
The intent of the MLCA is to authorize forfeiture of the profits earned by launderers; to encourage financial institutions to come forward with information about money launderers without fear of civil liability and to provide Federal law enforcement agencies with additional tools to investigate money laundering.
Bank Secrecy Act
The title of the Act is misleading, as its main purpose is to limit, rather than to enhance, secrecy regarding certain financial transactions. The Bank Secrecy Act (BSA) requires private individuals, banks and other financial institutions to provide Currency Transaction Reports (CTRs) on cash transactions greater than $10,000, to report suspicious transactions and to implement anti-money laundering programs.
The Financial Crimes Enforcement Network (FinCEN), an agency of the United States Department of the Treasury uses data-mining techniques to identify targets for investigations of money laundering and other financial crimes.
They process approximately 200,000 reports a week on large currency transactions. Those reports are analyzed using link analysis to establish whether there are related transactions that may indicate suspicious activity. These linked reports are combined with additional information from law enforcement and Treasury records along with additional analytical tools to eliminate legitimate activities.
Training Programs
Financial crime is complex, and the investigation of financial crime requires highly trained investigators with special skills.
Training programs to combat them include the FBI's white collar and financial fraud program, FLETC's international banking and financial fraud institute program, IRS Criminal Investigations Division training on money laundering and financial fraud, the DEA's drug money laundering investigations, FINCEN's initiatives to establish Financial Investigative Units (FIUs), and the US Secret Service programs in credit card fraud and counterfeiting.
Treaties and Agreements
Mutual Legal Assistance Treaties (MLATs) allow generally for the international exchange of evidence and information in criminal and related matters. In money laundering and asset forfeiture cases, they can be extremely useful for exchanging banking and financial records.
Financial Information Exchange Agreements (FIEAs) facilitate the exchange of currency transaction information between the U.S. Treasury Department and the finance ministries of other governments.
$47.00 by spring.
$47.00 by spring.
30 militants reported dead as Iraq raids start
Government: 20,000 troops, backed by U.S. forces, committed to Baghdad
http://www.msnbc.msn.com/id/16489616/
Some convertible bonds coming due and they have no cash and a sale that got delayed.
From a quick look anyway.
Gotta run.
Later.
Interesting..
It still doesn't stop the thief though.
Mama Let Him Play
LOL.
Everybody is going to start thinking I'm a perv if I keep carrying on like this.
Rotflmao!!!!!!!!!!!!!!!!!!!!!!
Local Amateur.
I'm still waiting for "Amateur" Night.
NEW ORLEANS - In the last week more Americans have died in New Orleans than in Iraq.
http://www.msnbc.msn.com/id/16490563/
US and Britain 'to target Mahdi Army'
CHRISTOPHER TORCHIA
IN BAGHDAD
A NEW offensive against Iraq's Mahdi Army - a militia blamed for sectarian death squad killings - is to be launched by the United States and Britain, it was claimed yesterday.
US-led forces are to target the organisation, led by the Shiite cleric Muqtada al-Sadr, after the Pentagon described it as the biggest threat to Iraq's security. Diplomats say Washington is impatient to confront its key figures.
Several officials in the Shiite political parties that dominate the unity government of the prime minister, Nuri al- Maliki, are also losing patience with Sadr's supporters and predict more raids like last week's joint US-Iraqi operation in which a senior Sadr aide was killed.
"There will be limited and targeted operations against members of the Mahdi Army," a senior Shiite official said. "The ground is full of surprises, but we think around this time there will be some operations. I can say no more."
British forces in the southern province of Basra have been conducting major raids against groups they describe as "rogue Mahdi Army", some entrenched in Iraqi police units.
Last week, British troops blew up the headquarters of Basra's Major Crimes Unit and said they freed tortured prisoners.
One western diplomat in Baghdad, who was neither American nor British, said: "The Americans want a war with the Mahdi Army ... and it seems they will succeed in getting one. They want to get rid of the militia."
In Washington, George Bush, the US president, will next week unveil his revised Iraq strategy, which is expected to entail new political, military and economic steps to win the war. The military effort, which has attracted the most attention and scepticism from Congress, is expected to include an increase in US forces, possibly an additional 9,000 troops deployed to Baghdad alone.
"One thing is for certain: I will want to make sure the mission is clear and specific and can be accomplished," Mr Bush said yesterday.
Jacques Chirac, the French president, said the US-led invasion of Iraq had destabilised the entire Middle East and caused terrorism to spread, adding that the problems in Iraq had justified his country's strong opposition to the war.
"As France foresaw and feared, the war in Iraq caused upheavals whose effects have not yet finished unravelling," he said yesterday in a New Year message to French ambassadors.
On the streets of Iraq, meanwhile, the violence continued. Police in Basra said a US civilian and two Iraqis had been abducted - the US Embassy said it was investigating the report.
In Baghdad, mortar rounds killed four civilians in the Shiite neighbourhood of Zaafaraniyah, while gunmen killed four soldiers at an Iraqi army checkpoint.
IRAQ'S MOST WANTED
IRAQ'S Mahdi Army - the radical Shia militia founded by the young firebrand cleric Muqtada al-Sadr - probably has just a few thousand fighters.
But it has been branded by the Pentagon as the biggest threat to Iraq's security and has survived several onslaughts by the US military.
Sunnis blame the Mahdi Army for sectarian death squad killings, a charge Sadr denies. It has also been involved in attacks on multinational forces.
Western intelligence officials are uncertain how much control Sadr now wields over the unruly militia or how much support he receives from Iran, which is growing concerned at the chaos on its doorstep.
Founded in the summer of 2003, the militia takes its name from the Mahdi, a messianic figure in the Shia tradition.
The militia is now one of the major armed forces on the ground in Baghdad, where it controls mainly Shia areas and is involved in both community work and neighbourhood watch activities against Sunni militants.
Sadr's main stronghold is Sadr City, a teeming Shia slum in Baghdad named after his father, a revered cleric.
Two of Sadr's brothers and his father were murdered by Saddam Hussein's security services.
Related topic
Iraq
http://news.scotsman.com/topics.cfm?tid=404
This article: http://thescotsman.scotsman.com/index.cfm?id=26592007
Last updated: 06-Jan-07 01:33 GMT
Bullishness can turn toxic, Zyblock says
CAROLYN LEITCH
Thursday, January 04, 2007
The combination of overconfidence and optimism is a hazardous mix, warns strategist Myles Zyblock, who believes investors are vulnerable to a nasty stock market shock.
“What stands before us is the widespread belief in a perfect economic landing for 2007,” says Mr. Zyblock, chief institutional strategist at Toronto-based RBC Dominion Securities Inc.
The common view among market professionals, says Mr. Zyblock in a note to clients, is that U.S. economic growth will come in at a healthy 2.6 per cent in 2007, inflation will moderate, and the U.S. Federal Reserve Board will cut interest rates.
But Mr. Zyblock, who makes frequent forays into the study of cognitive psychology as an adjunct to his work on the markets, says history shows that investors typically display too much brio.
Wall Street's confidence in the outlook for corporate profits has rarely been stronger, he adds, and money managers are buoyant about the market's prospects. At the same time, volatility in the major asset classes is historically low, which also signals of investor effrontery to Mr. Zyblock.
The strategist doesn't know what kind of event might jolt the stock market — a shock to confidence is unpredictable by definition — but he believes that “leaning against the wind” could be rewarding this year.
The strategist sees danger signs in the four-year uninterrupted run for the bull market in stocks, the housing market “collapse” in the United States, and the inverted yield curve in the bond market, for example.
He recommends that investors adopt strategies that add more certainty to their portfolios. He points to high-quality and large-capitalization stocks, for example. Investors may also want to bulk up the income-generating portions of their portfolios.
At the moment, Mr. Zyblock has “overweight” recommendations on the telecommunications services, consumer staples and health care sectors in the U.S. Standard & Poor's 500-stock index. He rates the energy, information technology and consumer discretionary groups “market weight.”
The strategist has “underweight” positions in industrials, utilities, materials and financial services.
In Canadian portfolios, Mr. Zyblock rates telecom services, financials and industrials “overweight” in the S&P/TSX composite index.
The utilities, consumer staples, consumer discretionary, technology, health care and materials sectors rank as “market weight,” while his only “underweight” tag is attached to the energy group.
At Citigroup in New York, chief U.S. equity strategist Tobias Levkovich says evidence from investor polls suggests market participants are not overenthused about U.S. stocks. He also notes that money flows into funds holding U.S. stocks remain dismal.
Mr. Levkovich thinks money managers are far more focused on opportunities in international markets as they stand in fear of U.S. “cliffs of concern” such as the housing market, the political instability of Iraq, energy prices, dollar weakness, low savings rate, and inflation risks. He warns that recent emerging market debt downgrades could lead to trouble for uninformed investors.
Mr. Levkovich favours U.S. large-cap stocks. He believes that telecom services and technology have been neglected lately, and points to the two as areas of good opportunity for investors in 2007.
The strategist recommends such names as AT&T Inc., Intel Corp., Intersil Corp., Cisco Systems Inc., International Business Machines Corp. and Oracle Crop.
CIBC's Rubin sees double-digit returns on TSX for 2007
Thursday, January 04, 2007
TORONTO — CIBC World Markets is predicting double-digit returns will continue on the Toronto Stock Exchange in 2007, thanks to global demand for resources, though overall gains may not match those of 2006.
“Continued strong-demand for energy, gold and base metals will push the TSX composite to 14,250 by year-end, despite a sluggish domestic Canadian economy,” the investment company said Thursday in its Canadian portfolio outlook report.
“While returns will likely be somewhat lower than the 17 per cent yielded by the TSX in 2006, the market's overall performance will be that much more notable this year in light of a weakening Canadian economy,” said Jeff Rubin, chief strategist and chief economist.
“The growing wedge between TSX performance and Canada's overall economic performance will underscore the extent to which the TSX has far more leverage to strong world growth than weak North American growth.”
CIBC World Markets also forecast a 2.2 per cent increase in Canada's gross domestic product this year, the slowest economic growth since 2003 — a year that was hit by both the SARS outbreak in Toronto and power blackouts in Ontario.
The report says the TSX doesn't reflect the overall outlook for the Canadian economy.
“Motor vehicles and forestry products, two huge but now struggling segments of the country's GDP, are hardly represented in the TSX at all,” Mr. Rubin said.
“Forestry stocks have shrunk from four per cent of market capitalization 15 years ago to a scant 0.7 per cent and as a result have become effectively irrelevant to index performance. And while the auto sector is hugely overweight in the composition of both Canadian manufacturing and Canadian GDP, it's decidedly underweight when it comes to TSX representation, accounting for only 0.8 per cent of the index.”
The report adds that mining and minerals, oil and gas and financial services carry a huge weighting in the TSX relative to their weighting in the Canadian economy.
“In the case of energy, the sector is almost 10 times as important to the TSX than to the economy,” CIBC World Markets said.
“The mining and minerals sector is about four times as important in TSX market cap than in GDP while the banks and financial services sector is about 31/2 times more important in the stock market than in the economy.”
The report also says a weakening North American economy is likely to make Canadian banks a winner, particularly in terms of their superior credit position.
In addition to banks, the report recommends investing in energy stocks, particularly uranium and oilsands producers. CIBC World Markets has revised its uranium price target and now expects it to hit $100 (U.S.) a pound by the end of 2007.
“The fact that Canada now accounts for almost 60 per cent of the world's oil reserves open to private investment suggests that Canadian energy properties, and the companies that own them, will be hotly pursued by international firms relying increasingly on unconventional deposits for reserve replacement,” Mr. Rubin said.
CIBC World Markets is the wholesale and corporate banking arm of CIBC.
IPO outlook ‘very dim' for Canada: report
ANGELA BARNES
Thursday, January 04, 2007
With no new income trust issues coming to market after the Oct. 31 federal government announcement on trusts, Canadian initial public offering activity slowed dramatically in the final quarter of 2006 and the outlook for 2007 looks “very dim,” according to PricewaterhouseCoopers LLP Canada.
“There is no doubt about the role of income trusts in Canadian capital markets, or about the impact of the federal government's new policy,” said Ross Sinclair, national leader of PwC's IPO and income trust services. “Not only has the market for new income trusts stopped in its tracks, the market for all new issues has stumbled,” he said. “Without a clear view of where the market for new issues is headed, companies have shelved plans for equity financing through the capital markets.”
But he added, “investors are still looking for a place to invest, and companies still need capital to grow;” it is just that they “aren't meeting on the TSX.”
The latest survey of Canadian IPO activity on the Toronto Stock Exchange and the TSX Venture Exchange shows that only 21 new IPOs were done in the last three months of 2006, which contrasts with the 32 done in the same period of 2005. The 21 new IPOs brought the total for 2006 to 116, down slightly from the 119 of 2005. The 21 IPOs in that final quarter were worth just over $1-billion. That brought the total value for the year to $5.8-billion, a sharp drop from the nearly $7-billion in the previous year.
Of the 21 issues done in the final quarter last year, only five with a value of $987-million were on the TSX. That compared with 19 new corporate and income trust issues worth $1.5-billion done on the TSX during the same period of 2005.
Income trusts had been a major factor on the capital markets the last three years and continued to be in the first three quarters of 2006 when 24 new trusts valued at $3-billion came to market, but that activity stopped completely in the fourth quarter after the federal government announced plans to start taxing trusts in 2011. Forty income trust issues with a total value of just over $5-billion were done in 2005.
Mr. Sinclair noted that the Canadian IPO market has averaged about $6-billion over the last three years and income trusts accounted for about 60 per cent of the market. He suggested that without any new income trust issues in 2007 or any new equivalent, the IPO market this year could tumble to less than $3-billion. “Numbers aside, the reality is that many middle market businesses will no longer have the access to the Canadian IPO market for capital” as a result of the government decision, he said.
Air Canada did the largest corporate IPO in 2006 with an issue valued at $525-million. Next largest was Addax Petroleum Corp. at $409.5-million. The biggest income trust IPO was that of Teranet Income Fund at $700-million. Next on the trust list was Jazz Air Income Fund at $235-million.
Yep!!!!!!!!!!
Anything can happen
Gold tumbles as dollar gains on jobs report
Benchmark February contract drops to lowest level since October
Some mornings I stop there to grab a cup just befroe I hit work.
If I have time and I'm going to sit down and drink some I prefer to go to a Mom an' Pop resturant.
You should see the business they do out here.
At 5:00 AM they are alreadt starting to get busy.
Tim Hortons Says Dec., 4Q Sales Increase
Friday January 5, 7:49 am ET
Tim Hortons Says Same-Store Sales Grew 10.9 to 11 Percent in Canada in December
NEW YORK (AP) -- Canadian coffee-and-doughnut chain Tim Hortons Inc. said Friday same-store sales grew 10.9 to 11 percent in Canada in December.
Same-store sales, or sales in stores open at least one year, are a key gauge of industry performance.
In the U.S., same-store sales during the month ended Dec. 31 totaled 9.5 percent.
For the fourth quarter ended Dec. 31, same-store sales grew 9.3 percent in Canada and 8.3 percent in the U.S.
During the quarter, the company introduced a breakfast sandwich in Canada and promoted its chili and garlic toast in the U.S. and Canada.
For the year, same-store sales grew 7.5 percent in Canada and 8.9 percent in the U.S.
Tim Hortons operates 2,637 restaurants in Canada and 305 in the U.S.
These guys sell good coffee...
THI.
From Friday morning to Saturday morning we expect : close to 5 cm of snow and 35-45 mm of rain
Nothing is boring out here,,
Between Cougars , Thieves and the weather.. Never know what will happen next.
Jennifer Lopez - J. Lo is a slang term used in technical analysis for a particular pattern of movement in a stock price. In a Jennifer Lopez - J. Lo, the stock price drops in a smooth arc before rising again; in other words, a rounding bottom. The term Jennifer Lopez - J. Lo was adopted because of its similarity to the round, smooth, famously callipygian buttocks of the American singer/actress. A Jennifer Lopez - J. Lo movement generally indicates the shifting of a bear market to a bull market. Traders eagerly watch the Jennifer Lopez - J. Lo phenomenon because of this smooth market reversal. Jennifer Lopez - J. Lo's buttocks are her only known contribution to investment analysis.
Ant bottoms yet??
Na. I'm too cheap.
It does have rubber ends though.
Happy New Year Capt.
Bought.
"The Club"
Do you think that it will help?
Anyone have any experience with them?
Yes. And it is not even supper time.
What happened here John?
Well I got it home now.
New ignition.
I think that they only put 9 kms on it. So they didn't get very far.
Time for a new one?
Chrysler Executive: Co To Offer As Much As $5,000 Incentives
16:14 EST Wednesday, January 03, 2007
DETROIT -(Dow Jones)- DaimlerChrysler AG's (DCX) Chrysler Group will offer as much as $5,000 in consumer incentives on certain 2007 model-year vehicles and " low-rate" financing on certain vehicles in January under a new "America's Hottest Products" campaign, the company's top dealer-operations executive said Wednesday.
Mike Manley, speaking during a sales conference call with analysts and media, said Chrysler Group is looking to maintain newfound momentum going into 2007, following sales gains in November and December of 3% and 0.5%, respectively. The company managed to work down its inventory of 2006 model-year vehicles in December, allowing it to focus its incentive deals on selling 2007 model-year vehicles.
The auto maker's 2006 sales fell 7% and the company hopes newly-launched products can help revive sales in 2007.
The America's Hottest Products campaign offers buyers a range of incentives on 2007 model-year vehicles and will last at least through the month of January, Manley said. Some hotter-selling passenger cars will be tagged with $1,000 to $ 1,500 discounts, while some full-size Dodge Ram pickup trucks will be discounted $5,000.
-By John D. Stoll, Dow Jones Newswires; 313-226-1249; john.stoll@dowjones.com
(END) Dow Jones Newswires
01-03-07 1613ET
Copyright (c) 2007 Dow Jones & Company, Inc.
Iraqis arrest men over Saddam hanging video
http://www.investorshub.com/boards/post_new.asp?board_id=4976
Hey Larry...
Happy New Year.