Medical Marijuana Business Attracts Hedge Funds, Venture Capitalists

Marijuana has been a cash crop for many years in this country. The only problem is that most of that crop had been grown illegally. Now, that medical marijuana is legal in 15 states and the District of Columbia, legalized marijuana has quickly become so popular it is attracting attention from hedge fund managers and venture capitalists, not to mention a whole new batch of entrepreneurs.

Doctors still can’t prescribe marijuana because it is categorized as a schedule one drug like LSD. But they can recommend it and that’s all anyone needs to get a medical marijuana license that allows them to buy marijuana legally in those 15 states, with three more states about join them.

Each license sells for around $130 and some clinics selling the licenses have brought in more than a million dollars in just their first year. The once illegal joint is selling like hot cakes throughout middle America to consumers who no longer have to worry about getting arrested for possession, at least by local or state authorities.

The federal government still outlaws marijuana possession but it’s unlikely someone with a medical marijuana license will be busted by an FBI or DEA agent if caught smoking in his or her own home. In fact, just last year U.S. enforcers promised to leave medical marijuana operations alone if they complied with state law.

That prompted a significant increase in interest among entrepreneurs. Today, there are an estimated 2,400 medical marijuana dispensaries from California to Maine. In Colorado, they outnumber Starbucks two to one.

 

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Iceland may ban MasterCard, Visa over WikiLeaks censorship

Credit card companies that prevented card-holders from donating money to the secrets outlet WikiLeaks could have their operating licenses taken away in Iceland, according to members of the Icelandic Parliamentary General Committee.

Representatives from Mastercard and Visa were called before the committee Sunday to discuss their refusal to process donations to the website, reports Reykjavik Grapevine.

“People wanted to know on what legal grounds the ban was taken, but no one could answer it,” Robert Marshall, the chairman of the committee, said. “They said this decision was taken by foreign sources.”

The committee is seeking additional information from the credit card companies for proof that there was legal grounds for blocking the donations.

Marshall said the committee would seriously review the operating licenses of Visa and Mastercard in Iceland.

WikiLeaks’s payment processor, the Icelandic company DataCell ehf, said it would take immediate legal action against the companies to make donations possible again.

“DataCell who facilitates those payments towards Wikileaks has decided to take up immediate legal actions to make donations possible again,” DataCell CEO Andreas Fink said last week. “We can not believe WikiLeaks would even create scratch at the brand name of Visa.”

“It will probably hurt their brand much much more to block payments towards WikiLeaks than to have them occur,” Fink added.

 

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Rep. Lewis passed over for powerful chairmanship

Republicans passed over  Rep. Jerry Lewis in favor of a veteran Kentucky lawmaker Wednesday to chair the powerful House Appropriations Committee.

The party’s steering committee rejected Lewis’s request to waive term limits that bar him from reclaiming the post he held when Republicans last held the majority.

The decision deprives Lewis of a position that would have given him control over the federal government’s purse strings and a heightened ability to direct millions of dollars to his home district, which includes some of the Pass area.

See also: CREW’s Most Corrupt: Rep. Jerry Lewis

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Banned marijuana dispensary reopens in Wildomar

A medical marijuana collective engaged in a legal battle against Wildomar re-opened its storefront location Monday in defiance of a citywide ban on dispensaries.

The move by the Wildomar Patients Compassionate Group comes a week after the collective filed a legal petition seeking to block the city from enforcing its ban.

General Manager William Sump said the group believes Wildomar’s ban violates state law, which allows medical marijuana patients access to medication.

“I will only operate until a judge tells us not to,” Sump said.

Wildomar City Manager Frank Oviedo said the city would likely seek a court order forcing the dispensary to shut down.

“We’re going to enforce the city’s ordinance,” Oviedo said. “There is no other option. We can’t ignore our own laws.”

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Startups Backed By The CIA

The spy agency has a venture capital arm that is funding an array of companies developing bleeding-edge technologies.

Tiny cameras. Hearing devices for the teeth. Wi-fi for refrigerators. These are some of the products made by companies that have caught the eye of In-Q-Tel, the venture capital arm of the Central Intelligence Agency.

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US contacts allies about WikiLeaks move

The United States has briefed its key allies, including Britain, France, Germany and Saudi Arabia ahead of the mass release of classified documents by WikiLeaks.

Whistleblower website WikiLeaks plans to release around three million leaked documents, including cables sent to Washington from American embassies throughout the world.

The website had previously posted online secret details of US military operations in war-ravaged Iraq and Afghanistan.

United States Department of State Spokesman Philip Crowley says the United States is “gearing up for the worst-case scenario.”

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Britain illegally harvests organs for test

An inquiry has found that organs and bones from the bodies of dead British nuclear industry workers at Sellafield were illegally harvested without their consent over a period of 30 years.

The inquiry’s findings revealed that the relatives of 64 staff discovered their loved ones had been stripped of livers, tongues and even legs decades after they were buried, the daily Belfast Telegraph reported.
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