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Jamaica and Ganja

 
Curtis 2021-03-05 00:27:43 

Did Jamaica get cheated out of ganja revenues by CIA/America in the past, and now, recently, by dotish politicians who are reluctant to monetize cannabis?

 
nitro 2021-03-05 01:35:32 

In reply to Curtis

recently, by dotish politicians who are reluctant to monetize cannabis?


I think it has more to do with the fact that the banks cannot engage in any business activity with players in the ganja industry.

 
Curtis 2021-03-05 03:42:00 

In reply to nitro

Why? It's legal elsewhere, why not legalize?

If legalized, those players become legit.

 
nitro 2021-03-05 04:24:11 

In reply to Curtis

The correspondent banks in the USA will cut ties with any of the local entities banking them.

The local banks cannot survive without the big American banks.

 
Gun_Play 2021-03-05 10:53:41 

In reply to nitro

So the 'big' American banks don't do business with ganja farmers in the united states an elsewhere?

 
nitro 2021-03-05 11:00:17 

In reply to Gun_Play

Maybe in states that have legalized it. It is still illegal under Federal Law hence considered money laundering.

 
Curtis 2021-03-05 11:59:18 

In reply to nitro

Wow, another artificial barrier to capitalize on a brand/product made in Jamaica, if true

Cannabis stocks trade on stock markets, Canadian gov't sells weed, legal in many States in US, grown widely, legally in North America.

That's why I doubt the bank blocker

 
michaelmax 2021-03-05 13:43:09 

In reply to Curtis

Doubt it all you wish but the banks themselves said this. It's not new news. There were even news reports on MSNBC no less in the States that big banks weren't funding marijuana industries- too cash oriented and the federal laws. The dealers are funded by smaller banks.

Jamaica's banks' corresponding relationships are with the big banks. The government here had talked about using other measures to support the industry. There was also talk to take marijuana of the UN schedule one list to allow for this to happen as well as using maybe our credit unions.

 
Curtis 2021-03-05 14:04:34 

In reply to michaelmax

So this is a prime example of Babylon oppression. Keeping Jamaica out of the market. RBC, Scotia, and CIBC, as owner of First Caribbean, are all Canadian banks dealing with corporate ganja farmers.

C'mon Yardies, think!!!

I suspect your government has not bought into weed as a viable commodity, plenty ole conservative farts ah run tings.

 
michaelmax 2021-03-06 01:20:30 

In reply to Curtis

I believe here CIBC is now RBTT so the ONLY Canadian bank is Scotia. Relationships are with US not Canadian banks and there are other issues as mentioned. But one does not negate the other.

 
nitro 2021-03-06 02:01:17 

In reply to michaelmax

CIBC is now FirstCaribbean and RBTT is now Sagicor.