Bush waves feather duster at black market money

This is interesting.

The Bush administration, in its latest effort to nab drug lords and terrorist financiers, will require major dealers in gold, diamonds and other precious metals and gems to set up comprehensive anti-money laundering programs.

It doesn't sound that serious though, it only applies to "dealers who have bought and sold at least $50,000 worth of precious metals and gems." According to FinCen, this means given the dollar threshold, most retailers in this industry are not required to set up such programs.

Fine way to make a show of reducing money laundering without over-impeding the process. It will most probably end up inconveniencing legitimate dealers without denting the black market at all.