Skip to comments.Pot Becomes a National Industry
Posted on 02/16/2014 11:33:20 AM PST by Tolerance Sucks Rocks
The transformation of America is proceeding apace this week, with the Obama Administration clearing the way for banks to legally get involved with drug dealers.
The Justice Department and Treasury Department on Friday issued guidelines for banks and other financial service companies to get involved with marijuana growers and distributors in states where the drug is legal.
Washington and Colorado in January became the first two states to completely legalize pot. Other states, such as California, have legalized "medicinal" marijuana.
The new guidelines were intended to allow banks to serve pot distributors while still ensuring the legitimacy of the businesses and reporting any possible criminal activity.
But considering the trend toward decriminalizing one of the most popular gateway drugs, and the support of our formerly pot-smoking president, it seems unlikely that the Administration really plans on much more enforcement of drug and money laundering laws, at least where marijuana is concerned.
The American Bankers Association seemed to shy away from celebrating, however. In a statement, it said, "Guidance or regulation doesn't alter the underlying challenge for banks. As it stands, possession or distribution of marijuana violates federal law, and banks that provide support for those activities face the risk of prosecution and assorted sanctions."
The group suggested that the federal government's regulations of the drug need to be changed in law, not just via agency procedure, which is a favorite tactic of the Administration for skirting Congress.
A Treasury Department representative, speaking on condition of anonymity, said that smaller and local banks were more likely to begin taking marijuana business accounts before the big banks get involved.
"This is a decision that each financial institution needs to make on its own," the official said. "We feel quite comfortable that we have acted within the scope of our authority."
Banks are champing at the bit to get a piece of the marijuana industry action, but they are unlikely to risk their business until federal law is changed.
Ultimately, that's the goal, in case anybody hasn't recognized the pattern yet: "medical" marijuana, state-level legalization, easing of federal rules, national legalization, booming business, big money, stoned nation, more Democrat voters, consolidated liberal power.
A regularly stoned or otherwise drugged populace is easier to manipulate, and marijuana has the added bonus of causing permanent brain damage.
It's just one more step on our road to a "Brave New World."
Don’t Bogart That Nanny State PING!
Marijuana! It’s the new “miracle drug”, dude!
Isn’t introducing drug into the population of Okinawa the reason the Japanese took it without resistance? Hmmmmmm?
Legalization of Marijuana for cataracts, cancer...
how uncool we have become.
Sodom and Gomorrah is America today.
Racists! They clearly don't believe in the omnipotent power of The Won.
You’re right - we have become Sodom and Gomorrah, but the legalization of pot has nothing to do with it. I’m sure all the hand-wringing nannies were saying the same thing at the repeal of Prohibition. All I see is one less excuse the jackboots have to launch a military raid on someone’s house at 3am.
America 2014: Socialism, dope and homo-marriage.
What a pathetic, degenerate cesspool this country has become. You’d think with America’s grand and great history it would merit a more noble death than this embarrassing and farcical disintegration.
Legalization of Marijuana for cataracts, cancer..
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Do you mean that if I had been smoking pot my cataract operation would have been unnecessary?
Or does it mean that I would have felt better when I couldn’t see my grandson on the pitchers mound when I was in the front row? Or wouldn’t have cared about driving on interstates and using the right shoulder as a guide and not be able to read the overhead signs till I got under them?
Or would I have been so ‘happy’ I wouldn’t of cared?
All civilizations die of something....
A proposition was made to them to authorize Congress to open canals, and an amendatory one to empower them to incorporate. But the whole was rejected, and one of the reasons for rejection urged in debate was, that then they would have a power to erect a bank, which would render the great cities, where there were prejudices and jealousies on the subject, adverse to the reception of the Constitution (emphasis added). Jeffersons Opinion on the Constitutionality of a National Bank : 1791.
Marijuana has been a “National Industry” for decades. Only now it’s moving from the black market to being officially recognized....and taxable.
The prohibition against it, and probably some others has been a colossal mistake/failure. It’s just like the prohibition of the 1920s, only worse. This is far from over though. Too many entrenched/monied interests have their livelihoods invested in the prohibition. It runs the entire spectrum from the legal/police state all the way to the drug cartels. All profit from it. You also have include those that desire to use the police power of government to force their moral views on people. The latter doesn’t profit from the prohibition, but it does seem to make them feel better about themselves.
Great our children have another legal way to get high. Even though they are minors they know the difference. “Gee mom and dad that bong you found in my room so what it’s legal now”.
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