This Secret Document Reveals One Big Bank's Crazy Marijuana Plans
It was only a matter of time: Wall Street heavyweight Merrill Lynch, the wealth management division of Bank of America, has apparently already started thinking about its role in the marijuana industry.
A 45-page equity report leaked to Philly Inquirer columnist Chris Goldsteinsuggests that Merrill Lynch is paying close attention to the budding industry. The company says that it's particularly "bullish on the cannabis testing market."
A prospective investor who received the report last week recently shared it with Goldstein. It included information about various components of cannabis such as THC and CBD, state medical marijuana laws, medical conditions that marijuana has been shown to treat, public polling, and details about "publicly traded companies already operating in the sphere."
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Mexico issues first permit to grow and use marijuana
Mexico City (AFP) - Mexican health authorities issued Friday the first permit allowing four individuals to grow and smoke their own marijuana, but none actually plans to consume the drug.
While the permit opens a crack in Mexico's prohibitionist policies, the government health watchdog Cofepris stressed that the authorization is limited to those four people only.
The foursome, who secured the authorization in a historic Supreme Court ruling last month, hope that their victory will force Mexico to legalize marijuana.
The group, part of the Mexican Society for Responsible and Tolerant Personal Use (SMART), says decriminalizing pot will help reduce the country's relentless drug cartel violence.
"We didn't do this to get the right (to consume) for ourselves but to change a public policy that has been extremely costly for the country," said Armando Santacruz, an accountant and one of the four who won the case.
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