Contingency Fund has become slush fund

[craig]

The recent article in the producer on government quarentees highlights the fact that the contingency fund that was orginally set up to backstop the producer payment options has become a personel slush fund for the CWB. It reflects the fact that sound accounting principles have gone out the door in favor of a system where we can easily hide just where the money is coming from and where it is going. The contingency fund has become an easy depository for funds from barley pools which can then cross subsidize wheat pools. If the other source of funds is from producer payment options and it is being built to replace government quarentees on sales then it would seem obvious that a certain segment of farmers is being used to subsidize those in the pool accounts. If we really need to build such a fund then it should be a totally seperate fund that is contributed to equally by all board members with strict regulations on how it is run and used. What's scary in this whole situation is that the whole accounting situation has got so bad that it would be easy for those on the inside to create their own personal slush fund for their own use. We would all be old by the time anyone discovered the money missing.

[bucket]

Your right. And look what they did with the boats. Its only a buck a tonne for 4 years and they have 65 million stolen from farmers.

Just imagine what they have been doing with a mentality like that.

Then add in the volatility of the market. Remember the 250 million lost on discretionary trading. They haven't even thought of repaying that before they bought the boats.

[Burbert]

Yup, I agree. They should give it all to
us farmers and let us squander it. After
all we are the best managers in the world
and know what were doin when we squander
the cash!!!!!!!!!

[parsley]

Slush funds are often ideal hideaways to launder money for those engaged in illegal activities.

You should really read that twice.
Parsley

[craig]

Burbert
If Viterra ran their business like the board, you'd be
whining that they were ripping you off to line their
pockets. If I squander my money on the farm then it
only comes out of my pocket. You obviously have no
faith in your management skills and would just as
soon let someone else squander your money for you.
Send some my way and I would a least let you know
what I squandered it on.

[bucket]

If I, or more likely my wife, wastes or squanders money, more than likely it is a good thing for an economy in turmoil.

At least its my decision as to how I spend my money.

The board has lost more money for western farmers than I care to think about.

[Burbert]

Laundering money, laundering money, at the
cwb. Gangstas are running the cwb.
Trafficking and dealing at the cwb.
Conspiracy theories abound. Jessie
Venturra would like to hear what you know
about the cwb. It would make fer a really
good show paisley!

[parsley]

It would be an interesting exercise to publicly tally the names of the diarrhea scum, paid for by farmer money, who surf this site, discourage dialogue, diss policy discussion, intimidate newcomers, and dilute debate. Yes, I think we can pinpoint them. Parsley

[parsley]

Makes you wonder if it's the careless trail of Mac diarrhea that causes a farmer to hack.

[ColevilleH2S]

Pars said;
<textarea rows="6" cols="50" style="background-color: Yellow;">
It would be an interesting exercise to publicly tally the names of the diarrhea scum, paid for by farmer money, who surf this site, discourage dialogue, diss policy discussion, intimidate newcomers, and dilute debate
</textarea>
Pars that is exactly what I have often thought. Unfortunately, I wouldn't be the least bit surprised that these trolls are on the CWB payroll, with the mandate to beat down the very farmers who's grain they expropriate.

[parsley]

cole, wouldn't it bea lark, as well as quite the learning experience, if one knew how to search, hack and trace well-fed diarrhea?

[sparki]

people in high positions receive bribes all the time
in most places we export grain to this is not uncomman. it is whether or not they are accepted that matters

[parsley]

sparki,
Just curious. Is 1 and 2 the same to you?

1. "Buy me a dinner and I'll see to it that you get to buy my incarcerated cousin's grain"

2. "I'll deposit the heroin cashin my incarerated cousin's account under home grown potato farm sales"

[sparki]

take it easy i am newcomer. tough questions have to come later.
lets see dinner for grain
equals heroin cash for ???
its all about the size of the loot
all i wanted to say was that the sales guys get bribed all the time and they go for lunch and parties and whatever with buyers who try and garner favor with them> but its highly doubtful they take cash into a slush fund. maybe a missed your earlier point

[craig]

Seems some of you are missing the point. Maybe in
the background there are better accounting
principles in place but on the surface there are no
checks and balances in the system. If the
employees of the board can make up the rules as
they go and no one has access to that information
then who is to know if and where money goes. The
board seems to have doctored the contingency fund
to suit it's own purposes, not to serve it's original
intend. It has been a great tool to slowly siphon
money out of your pocket to build a fund which
helps to cover up mistakes in the future. If we were
to loose the government guarantees, the board
doesn't want to be in a position of having to suck a
lot of money out of producers in a short period of
time. Just want to suck it out of you slowly now and
if they don't need it down the road then maybe we
can buy some more ships.