《经济学人》精读4:Marijuana businesses, are forced to use cash

The cash they must work with is vulnerable to crooks, cops and even combustion


MANY marijuana growers in northern California, America’s biggest source of the stuff, had expected this autumn’s harvest to be the largest ever. After all,recreationalmarijuana becomes legal in the state in January. Instead, wild fires in October—spreading so fast they killed 43 people—burned up half the marijuana growing in the area’s tri-county “Emerald Triangle” alone and new fires now raging will claim more. Some reckon the fires set a record not just for burnt pot, but also for the value of banknotes turned to ash.

( recreational: used for pleasure instead of for medical purposes)

Although 29 American states allow sales of marijuana for medical use (or medical and recreational use), federal law still classifies it as a “schedule 1” drug like heroin. Firms handling marijuana proceeds can be prosecuted for money laundering. Ned Fussell of CannaCraft, a maker of marijuana products, says that a few firms open a bank account under an alternative identity. But banks almost always find out. Socannabisbusinesses operate almost exclusively in cash. Many pot farmers fled the fires without their banknotes.

( cannabis: a drug such as marijuana or hashish that comes from the hemp plant and is smoked illegally

美国的大麻虽然在29个州是可以作为药用合法销售,但是大部分大麻从业者还是用现金交易的,这次大火把这些现金都烧成灰烬)

Chiah Rodriques of Mendocino Generations, a cannabis-genetics consultancy, knows two dozen people who lost a hoard. One burnt cabinet had held $250,000. Cheryl Dumont, from aMendocino County cannabis co-operative, says that of about 20 stashes buried by members or neighbours, only one was deep enough to survive. The gold and silvers he hadinterred melted into a dirt-infused blob.

( hoard: a large amount of something valuable that is kept hidden

blob: a usually small amount of something thick and wet)


Combustionis not the only risk.The cash is also a magnet for robbers.And Fred Timpner, head of the Michigan Association of Police, worries that untraceable cash is “ripe for public corruption”. Holders are tempted to bribe city, county and state authorities for lucrative permits.

Insurance is another problem. Growers cannot buy federal crop insurance, and most private insurers shun the market for fear of penalties. CannaCraft’s ruined crop was worth $2.5m. Some insurers now cover cannabis grown indoors, but premiums are high,says Patrick McManamon of one of them, Cannasure, of Ohio. It has been kicked out of at least five banks—“I kind of lose track,” he says.

( combustion: the act of burning

现金就像磁铁一样吸引那些抢劫犯,这句写得太他妈好了, a magnet for !)


California’s Treasury hopes to tax marijuana sales, predicted to be worth nearly $7bn next year. In November, a working group it convened to look at how to collect it securely advised state agencies to hirearmoured couriers. It also recommended opening a state bank for pot money.

That is unlikely. Abid by Colorado to legalise marijuana banking isbogged downin court. Moreover, police have an incentive to keep pot money unbankable. Remarkably, forfeiture laws let police departments seize cash and pocket much of it if they suspect it includes proceeds from crime. No crime need even be charged.

( armoured: having soldiers and vehicles that are protected with armor

bog down: to cause something to sink in wet ground. the mud bogged down the car)


In theory, cryptocurrencies such as bitcoinshould be safer from cops, crooks and combustion. On February 28th trading will begin for a new digital currency called PerksCoin. By next summer roughly 5,000 potdispensariesin America and Canada will accept PerksCoin payment by smartphone, says Daniel Cheine of CannaSOS, the Toronto firm behind it. By then, a rise or fall in PerksCoin’s initial unit value of 80 cents should hint at whether cryptocurrencies are indeed how pot-growers will stop their money going up in smoke.

( 总结上面三点,警察、抢劫犯和火灾! cops, crooks and combustion ... 也写地太好了

以后可能大麻行业会用电子货币,避免他们辛苦赚来的钱被烧成灰烬

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Results

Lexile®Measure: 1100L - 1200L

Mean Sentence Length: 14.32

Mean Log Word Frequency: 3.09

Word Count: 487

这篇文章的蓝思值是在1100-1200L, 适合英语专业大二大三的水平学习,应该是经济学人里属于比较简单的一列。

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