Posted on 01/04/2018 8:28:10 AM PST by AngelesCrestHighway
A strong rally in cannabis-related stocks this week to mark the start of sales of recreational marijuana in California came to a screeching halt Thursday, on a report that the Justice Department is about to throw a spanner in the works for the nascent weed industry.
U.S. Attorney General Jeff Sessions, a longtime marijuana opponent, is expected to rescind an Obama-era policy that gave protections to states that have legalized marijuana as long as they abide by a series of guidelines, the Associated Press reported, citing unnamed sources. An announcement that will scrap what is known as the Cole Memo is expected later Thursday, said the AP.
The news sent cannabis stocks sharply lower, with Nevada-based Cannabis Sativa Inc. CBDS, -28.95% sliding 22%. The company is involved in the research, development and licensing of marijuana products. Colorado-based cannabis farmer GrowGeneration Corp. GRWG, -24.71% slid 21%.
Many of the listed cannabis companies in North America are based in Canada, which is gearing up to fully legalize marijuana later this year. Those stocks were caught up in the downdraft, with Toronto-based medical marijuana distributor Supreme Cannabis Co. Inc. SPRWF, -15.90% down 9.8%, while Ontario-based rival Canopy Growth Corp. WEED, -15.71% slid 9.6%.
(Excerpt) Read more at marketwatch.com ...
Too bad he's not on a mission to prosecute Hildebeeste, Hussein, and all their criminal cronies.
It appears it means this administration has given a green light to individual federal prosecutors to a) raid, seize, shut down, etc. medical & recreational marijuana businesses in states under their jurisdiction and b) to prosecute medical & recreational users, growers & sellers in those same states.
The US needs to completely legalize pot so it will be like tomato plants. Anybody can grow it sell it or whatever they want to do with it. This whole dispensary BS is just plain stupid. They are selling pot for $15.00 per gram. That is a pure ripoff.
I agree, yet with all the recreance from ‘sanctuary’ states I don’t see what options they have.
Congress wants to change the law and legalize marijuana, pass veto proof or agreeable legislation like the Constitution demands. If states want to be left in abeyance of certain laws, the better understand it’s at the largess of the federal government and treat them with respect. Else our Civil War meant nothing.
The US needs to completely legalize pot so it will be like tomato plants. Anybody can grow it sell it or whatever they want to do with it. This whole dispensary BS is just plain stupid. They are selling pot for $15.00 per gram. That is a pure ripoff.
How so? Over 1/2 the states have medical marijuana. Many are Republican led.
I wonder how Mike Tyson with his new Pot Farm is gonna handle this?-)
Florida is a Democrat-led state?
I know I voted for our Republican Governor & President Trump won Florida.
Florida is led by Democrats?
Thanks for the ping
See post #14 :)
No need to fix the FBI and DOJ. We still haven’t won the WOD.
Just to be clear up front: If I had the power to prohibit marijuana I would do it.
But the issue of Federal authority vs. State authority is much more important than my personal views about the demon weed.
In 1917, when Congress decided it wanted to ban fermented plant products (alcohol), they realized that the Constitution granted them no such power and that an Amendment would be required in order to make the Volstead Act constitutional.
In 1970, when Congress decided it wanted to exercise legislative authority over other plant products (marijuana), they just went right ahead and did it.
If the Volstead Act would have been unconstitutional without the XVII Amendment, what makes the marijuana portions of the Controlled Substances Act constitutional?
States which are legalizing marijuana are making a serious error, in my opinion. But I have no question that they have the authority to do this.
I have serious doubts that Congress has, or had, the authority to ban it.
I don’t care because I don’t smoke it. It is filthy and unhealthy. I hope they tax it to oblivion and back and ban it in every place except in the woods in America.
I don’t have the answers but have such an unrealistic and visceral disdain for pot. I blame it for much of the tragedy in my own life and the lives of those close to me. Like so many things I understand that it is not the pot but the personal choices that our loved ones make of their own volition however the fact that so much pot lands in the lap of so many pre-teens that don’t even have a chance to think with a clear adult mind before it begins warping their perspective that makes me so furious.
Get the dammed pot out of our schools first, then we can talk.
Do states have the right to become Sanctuary States?
Agreed! This involves the “Police Power,” which clearly was reserved to the States. (But the Prohibition Amendment was the XVIIIth.)
My personal views on marijuana differ from yours, but I absolutely, 100% agree with everything else you said. This is a Constitutional issue.
The ganja zombies are already shrieking projections against conservatives and freaking out. The closet lefties who thought they’d infiltrated and controlled conservatives are the most entertaining.
Marijuana use increases among pregnant women in California, study says
http://www.foxnews.com/health/2017/12/27/marijuana-use-increases-among-pregnant-women-in-california-study-says.html
Meanwhile, women who smoke pot have been feeding the stuff to their autistic kids and claiming in Internet discussions that it cures autism. Police aren’t doing anything about it.
The Constitution should not be in the business to tell the People what they can/cannot do. This is the major failing of the 18th Amendment. The Constitution is in the business of telling Congress what it can/cannot do.
People tend to forget that.
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