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Stolen Cannabis Sales Data – Cannabis News, Lifestyle

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The Ontario Cannabis Store (OCS) says a breach has stolen cannabis sales data. The Crown monopoly handles the distribution of cannabis in Ontario. It is illegal for licensed producers to send their products straight to retailers. First, they must go through the Ontario Cannabis Store.

A spokesperson for the government monopoly said, “There was no failure of IT security or systems.” But later confirmed there had been a “misappropriation of data.”

The Ontario Provincial Police did not confirm whether an investigation had begun.

Stolen Cannabis Sales Data: What Happened?

The Canadian Press obtained a letter from the Ontario Cannabis Store. The letter, sent to retailers, confirmed that “confidential store sales data” was being “circulated in the industry.”

“This data was not disclosed by the OCS, nor have we provided any permission or consent to distribute or use this data outside of our organization,” reads the letter. “The data misappropriated, disclosed, and distributed unlawfully. As a result, we trust you will refrain from sharing or using this stolen data in any way.”

Bureaucratic Mismanagement

Undermining consumer confidence is par course for the provincial regulator. 

Last December, Ontario‘s auditor general’s annual report severely criticized the Ontario Cannabis Store. The Crown monopoly often misreports its inventory levels. They fail to forecast supply and demand, thus creating consistent product shortages. Inaccurate forecasts leave customers and licensed producers frustrated, the report said.

In response, the OCS said it’s updating its point-of-sale technology. They aim to improve sales reporting and inventory management. 

Stolen Cannabis Sales Data Deux

stolen cannabis sales data

Finding out about stolen cannabis sales data from the OCS is becoming routine. On November 1st, 2018, a breach saw over 4,000 customers’ private information stolen. The breach included postal codes and product reference numbers. It also had the names of people who signed for cannabis deliveries.

At the time, the Ontario Cannabis Store assured customers that everything was fine. They said the affected breach only made up two percent of customer orders.

Perils of Bureaucracy

Having cannabis sales data stolen is another reason to scrap the OCS altogether. Many provinces are implementing “farmgate” models. This is where producers can sell their products on site.

Others question the need for a central distributor at all. Especially one financed by taxpayers and immune from the competition of the marketplace. This separation from ordinary business calculations may be why the OCS keeps failing. Without profit and loss, the bureaucracy cannot accurately allocate resources.





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Justinflation in Cannabis – Cannabis News, Lifestyle

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Urban Dictionary defines Justinflation as “When a politician or government doesn’t think about monetary policy; and believes the budget will balance itself.”

The name comes from Canada’s prime minister, Justin Trudeau. In 2015, without even a recession or pandemic as an excuse, he plunged Canada’s finances into the red after nearly two solid decades of budget surpluses.

When asked about this, he said (and this is an actual quote): “The commitment needs to be a commitment to grow the economy, and the budget will balance itself.”

Translation: I’ve taken more than half your income in some cases, but I expect you to invest and create with the remaining capital. Meanwhile, I’ll be using the looted half to make it harder to invest and create in this country.

The left loves this approach. Instead of the so-called cruel act of cutting government services and expenditures, you expect increased revenues because the economy grows “from the heart outwards.”

And yes, that’s another actual quote from Justin Trudeau.

Who is Justin Trudeau?

Justin Trudeau is a trust fund beneficiary with no financial experience. Before becoming prime minister, he was a snowboard instructor and a drama teacher. He worked part-time as a teacher for a private school in British Columbia where Chinese elites send their kids. He was fired from that job over a sexual scandal (possibly involving a minor) and had to sign a non-disclosure agreement.

Justinflation results from a publicly-educated populace believing “we” are the government. Justin Trudeau results from corporate media favourably marketing a famous last name attached to someone with zero qualifications.

That is how the cannabis file was mishandled from day one. Justin merely said: “We’ll legalize it,” on a campaign stop in B.C. Then he won in 2015. So he put a former cop in charge of legalization and walked away.

The result has been a bloated asset-heavy corporate system. Cannabis flower is irradiated, and more than once, producers have been caught spraying illegal pesticides on their plants. Instead of legalizing the craft cultivators in British Columbia, Justin’s Liberal government called them criminals and refused to listen to them.

Yet, these people were the actual experts. They made BC Bud world-renown. Even today, many of them are priced out of the licensed producer system. The barriers to entry are too high. There is no support for BC Bud in Justin’s legalization.

justinflation
When they gonna flatten this curve?

Who is to Blame for Justinflation?

Justinflation pours gasoline on the fire. Inflation is the result of the central bank. Far from remaining “independent,” these anti-democratic institutions have always been political. Justin Trudeau would have not been able to run these deficits without the Bank of Canada acting as his personal ATM.

But Justin Trudeau doesn’t think about monetary policy. Actually. He admits that. It’s a quote.

He said (emphasis added): “When I think about the biggest, most important economic policy this government, if re-elected, would move forward, you’ll forgive me if I don’t think about monetary policy. You’ll understand that I think about families.”

Justinflation is the result of Justin Trudeau’s incredible stupidity. 

Families are struggling with the cost of living. Medical cannabis patients have to choose between paying rent or being able to afford their medicine. And with the Cannabis Act lumping medical patients together with recreational users, there has been no thought to the high costs of edibles and oils.

That has everything to do with monetary policy.

But it is also the fault of individual Canadians who appear to have no inner voice and merely parrot the narratives given to them by the establishment media. That is how Justin Trudeau keeps winning elections. 

The media, too, are to blame and deserve every loss in readership and viewers. If they’re serious about stopping misinformation, then most of them should be resigning and apologizing to the nation.

Justinflation in cannabis can be fixed. But first things first, Justin Trudeau has to go.





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Ticker: ‘Borat’ drops suit over pot billboard; Ringling Bros. announces comeback tour, no animals 

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Actor Sacha Baron Cohen has dropped his lawsuit against a Massachusetts cannabis dispensary that used an image of his character Borat on a billboard without his permission.

A document filed in Boston federal court Tuesday said the two sides have agreed to dismiss the case brought last year by the “Borat” star.

The legal filing did not mention any settlement in the case. Emails seeking comment were sent Wednesday to lawyers for Baron Cohen and the dispensary, Somerset-based Solar Therapeutics Inc.

Read the rest of this story on BostonHerald.com.



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Has the Cannabis Bubble Popped? – Cannabis News, Lifestyle

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Has the cannabis bubble popped? Stocks are down, funds are drying up, and balance sheets are messy. Assets managed by cannabis funds are down by 45% in twelve months. They’ve reportedly lost $2.6 billion from $4.6 billion the previous year.

Morningstar, an investment research firm, provided the data.

What Happened?

Investors blame a popped cannabis bubble on several factors. First is the repeated failed attempts to pass federal legalization legislation in the United States. But funds focused on legal cannabis markets have also dropped. Data shows that 23 ETF funds have lost between 44.2% and 72% over 12 months.

Investors are seeing inflows dry up as well. In the first three months of 2022, they invested $95.6 million into cannabis funds, compared to $1.7 billion the year before.

However, last year’s activity may have had to do more with new listings on the London Stock Exchange. In the first five months of 2021, Oxford Cannabinoid Technologies, Kanabo Group, and MGC Pharmaceuticals doubled the size of the cannabis market.

Of course, like the rest of the sector, shares in these groups have dropped by 60% and 80%. Canadian LPs have faired a little better, but they’re still down over the same period. Aurora Cannabis is down 57%, Canopy Growth is down 74%, and Tilray is down 68%.

Putting Their Faith in Joe Biden 

cannabis bubble popped
Photo by: Gayatri Malhotra

Performance for cannabis funds doesn’t seem to follow any fundamentals, however. At the tail-end of 2020, cannabis funds picked up when media conglomerates declared Joe Biden the winner of the US presidential election. Funds rose further toward the inauguration when investors assumed the Democrats would make cannabis legalization a top priority. As well as passing legislation to make it easier for cannabis companies in the US to access the banking sector.

“Everybody is watching that one data point right now,” says Nawan Butt, manager of the Medical Cannabis and Wellness ETF. “Whether or not the Senate can pass the SAFE Act, which is expected to go through the Senate. If the SAFE Act gets passed, that will allow financial institutions to start helping the industry. This essentially means that industry participants will get better access to financing and better access to financial services. As well as, we’ll finally have investors in this space who aren’t afraid to be persecuted under federal laws for holding cannabis stocks.”

Blaming Consumers for A Popped Cannabis Bubble?

According to Morningstar figures, Global X is the worst performing cannabis ETF. Alec Lucas, research analyst at Global X, blamed consumers for pursuing “cheaper cannabis options sourced from illicit markets, which has contributed to slowing sales in markets such as Colorado, Illinois, Massachusetts, and Pennsylvania.” Adding, “Canadian companies have been unable to lift prices so as to remain competitive with illicit markets, leading to disappointing earnings.”

However, the truth may be more complex than consumers preferring legacy markets over pharmaceutical-grade cannabis.

Ethanol prices are up 35%, and this affects entrepreneurs using ethanol as a solvent for cannabis derivatives. Higher gas prices also strain margins for cannabis delivery services, including wholesale supply.

Easy Money At Fault for Popping the Cannabis Bubble?

The cannabis bubble may be popping because the era of easy money is coming to an end. Central banks worldwide are attempting to lift interest rates after over twenty years of keeping them near zero. Many economists suggest this manipulation of interest rates acts as an unnatural price control on the money supply. The result is a capital market that divorces itself from consumer demand.

In other words, market interest rates reflect consumer demand and the relative scarcity of capital. A central bank lowering interest rates below its market rate creates an illusion of more prosperity and, thus, the funds to realize long-term projects. However, as we’re discovering now, printing more money doesn’t create more resources. Banks and governments can blame supply chain disruptions on COVID or the Russians, but evidence points to monetary policy, namely easy money, being at fault.

An economy flush with easy money explains how Canada’s cannabis bubble grew to unprecedented heights. Large LPs are cash flow negative, and they have trouble competing with the legacy market and smaller craft producers. Despite their popularity in the financial world, the fundamentals are not there to support their business model. And with large LPs shutting down facilities and firing employees, it’s becoming more apparent every day that the cannabis bubble has popped.





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