Quote:
Originally Posted by HappyTexan
Nice to see the Fed could care less what states voted into law.
This is your big government squashing small government.
IMHO the Fed has no business doing this.
The DOJ is spending all of it's time going state to state trying to kill off what state voters have put on the books.
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No, it's not. As long as there is a federal law prohibiting marijuana as a legal drug, any bank that does business in a state where pot is legal must keep those accounts in-state.
As banks often sell transactions, especially loans, to other banks, if a Colorado bank was to sell a pot loan to a bank in N. Dakota, where pot is illegal, it would constitute a transfer of ill-gotten gains. The bank that bought the loan could face prosecution and the money involved could all be seized.
This could happen even in a state where pot is legal, as all the legal states vary in their laws as to what's legal or not concerning pot.
The Feds are not denying Colorado's right to legalize pot, nor or they challenging it. This is not squashing small government. The Feds have the Constitutional obligation to govern interstate commerce, and that's all they are doing.
When pot is legalized everywhere, under the same basic rules of possession and sales, all this will go away. It will also go away when the Feds drop pot's illegality at the federal level.
and it will happen. Marijuana is too large an industry now to ever stop it. Big Tobacco is already making plans for national distribution and purchasing, as pot is a savior for that industry.
Additionally, when pot is legalized everywhere, the market for hemp will also become legal everywhere, and hemp has vastly more economic potential that pot.
Pot is developed to produce as much of the intoxicants in it as possible, while there best hemp produces almost none at all. The plant either uses it's energy in growing potent bud or in growth. Good pot plants are shorter and weaker, while good hemp is taller and much more fibrous.
A pot smoker could smoke a bale of hemp and never get a buzz, but because it will always have trace amounts, every law on pot has applied to it. Farmers who want to grow hemp have been fighting this for years with the feds.
Hemp can be used for animal feed, it can replace inorganic plastics, is a unique fiber that cannot be reproduced inorganically, can grow in the worst soils and climates, and needs no specialized farm equipment for harvesting.
That's just for starters. Once hemp is legal and the chemists get their hands on it, there will be many more uses that come from it.
Hemp is also a farmer's savior in times of drought and severe climate change. The plant needs no fertilization, no special care, resists both drought and freezing, and can be planted in all the waste land areas on farms anywhere in the nation.
So there it is; one new industry for tobacco growers, and many new industries from hemp. Both will mean billions of dollars in new taxable income and thousands of new jobs. The states that get on the wagon early will have all the advantages, and those who drag their feet will get the leftovers.
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