According to this story, the Chimp got his watch stolen while working a crowd in Albania.
There are of course, multiple and contradictory denials of this; Bush put in his pocket ! No, he gave it to a Secret Service guy behind him ! Nope, it fell off and a bodyguard picked it up ! Smells like a compulsive attempt at a cover up to me.
Not me. The White House’s story for once makes sense - did you see how everybody was grabbing at his arms? I would have taken my watch off too, just so nobody scratched themselves or the watch.
Oh no! How will he replace it? Do they even make Mickey Mouse watches anymore?
Iran or the watch…one of them dies!
It’s pretty hard to tell from the video (here), but I watched that sucker frame by frame and there are several seconds where his left arm is obscured from view, but you never really see his right arm reach over toward it (which he would presumably have had to do to take the watch off). The last second you can see it (0:56), somebody has got a pretty good grip around his left wrist. Then he pulls his left arm away, keeping his right hand in the air and in fact clasping several hands at once, then by 1:03 it’s clearly gone.
The White House’s story seems kinda fishy to me.
This timely (heh) issue is also discussed here: Why are Albanians giving GWB love? - Factual Questions - Straight Dope Message Board
Somebody there mentioned NBC playing a clip from another angle but I can’t find it on their website or Youtube. Is that video floating around anywhere? I feel that this is a very pendulous issue and we need to clock it once and for all.
Meh - passed it off to a secret serviceman. See here. If that doesn’t convince you, I give up. 
ETA: be sure to watch the secret serviceman behind Bush when the watch “disappears.” Definitely groping in the President’s pocket. Either he’s getting the watch, or we have a real story on our hands!
ETA (again) - it’s the guy with the glasses, mustache, and silver hair right behind the President.
If someone really did nick the watch right off the President’s wrist on a rope line, I have to commend the thief on having having balls of pure brass.
CNN showed the other video that’s supposed to show him fumbling around his pocket.
I think I’d rather have had someone steal his watch than him stash it for fear someone would.
Look - I’m no W-fan, but isn’t it possible that he removed his watch less out of fear that it would get stolen, than for fear that it might scratch someone in the crowd (or tear up his own arm) since the crowd was groping at him like mad?
I’ll be honest - this is a tempest in a teapot, and it’s not reflecting well on the anti-Bush crowd as far as I’m concerned. Shit, aren’t we still at War? Isn’t Gonzales still the atty general? Do we have an immigration bill?
Forget his watch.
I agree with Diogenes. Bush having his watch stolen or handing it off to an agent - either way it’s a non-event. But somebody deciding that shaking hands with the President was a good opportunity to lift his watch - that’s hilarious.
Well if it was nicked it’ll be on ebay anytime now.
“Watch, almost new, nicked off Prez. Genuine article, offers over £10m”
Buyer pays postage
When I heard Bush was getting a rapturous welcome in Albania, I couldn’t help thinking “naaah, they just think he’s Norman Wisdom” (who apparently is huge over there.
There is a certain simian resemblance, now that you mention it.
It’s SIR Norman if ya don’t mind.
And yes he’s big over there, bigger even than Beckham.
Our Norm got a bigger round of applause at Englands game than Becks did.
According to the news last night, he said he just took it off himself and pocketed it. This might be true, or a convenient fiction. I don’t really care.
But we were watching Casablanca last night just before this, and I couldnm’t help thinking:
“Vultures! There are Vultures Everywhere!”
Maybe this could be a good thing:
“I’ll invade no country before its time. Egads, my watch! Its Gone!” 
Well I think we now know what the plot to the next season of 24 is going to be.
“The following takes place between the hours of … uh, 8, 9 … crap! Chloe, could you tell me what time it is?”