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Banks Say No to Marijuana Money, Legal or Not
nytimes.com ^ | 1/11/2014 | SERGE F. KOVALESKI

Posted on 01/12/2014 6:53:57 AM PST by rktman

“Carrying such large amounts of cash is a terrible risk that freaks me out a bit because there is the fear in my mind that the next car pulling up beside me could be the crew that hijacks us,” he said. “So, we have to play this never-ending shell game of different cars, different routes, different dates and different times.”

(Excerpt) Read more at nytimes.com ...


TOPICS: Agriculture; Business/Economy; Health/Medicine; Society
KEYWORDS: banking; dopers; libertarians; medicalmarijuana; midnighttokers; nothanks; potheads
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To: rktman
FDIC - Federal. Marijuana - Federally illegal. (should not be federally illegal, but it is)

Banks don't want their assets seized.

21 posted on 01/12/2014 8:11:47 AM PST by Darren McCarty (Abortion - legalized murder for convenience)
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To: Usagi_yo
But why is dispensing illegal and so heavily prosecuted under federal law?

-Feds have no jurisdiction in this matter per the constitution.

-Commerce clause should not apply for plants grown within a state for personal use or sales to residents of that same state.

-Just like with guns, the feds

-Medical pot has been legal in some states since 1996.

We have a bought corrupt government. It is unavoidable when so much power is in the hands of a few. An entity can hand a few $million to a few reps/regulators/etc and those edicts can push $billions to their side. All enforced at the barrel of a gun by scary trigger-happy shocktroops(SWAT).

22 posted on 01/12/2014 8:16:29 AM PST by varyouga
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To: Usagi_yo

*-Just like with guns, the feds should allow the states to make the majority of rules.


23 posted on 01/12/2014 8:18:23 AM PST by varyouga
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To: Uncle Chip
“How will the shops in Colorado pay their taxes — with bundles of cash???”

For now it appears yes. The article talks of a store owner who paid $50k in taxes with cash. With a pic to boot. Ya did read the article didn't ya? :)


24 posted on 01/12/2014 8:25:08 AM PST by varyouga
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To: varyouga
Ya did read the article didn't ya? :)

I prefer to wait for the pictures :) -- you know, the type who thinks that the movie is usually always better than the book or that a picture is worth ... 35 words.

25 posted on 01/12/2014 8:35:41 AM PST by Uncle Chip
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To: rktman

So Bitcoin becomes the currency of convenience for any illegal transactions. Fi, fie, fo fum....I smell the smell of a Soros plan!


26 posted on 01/12/2014 8:48:03 AM PST by Repulican Donkey
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To: greene66

And right back at ya.


27 posted on 01/12/2014 9:04:01 AM PST by Anton.Rutter
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To: rktman

as they go with any other legal product, so it will go with firearms...


28 posted on 01/12/2014 9:50:28 AM PST by camle (keep an open mind and someone will fill it full of something for you)
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To: rktman

Why do you hate the Tenth Amendment?


29 posted on 01/12/2014 12:58:18 PM PST by Ken H (What happens on the internet, stays on the internet.)
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To: varyouga
The WOD has been far more successful than prohibition... for the bootleggers

Absolutely!

30 posted on 01/12/2014 5:59:32 PM PST by Caipirabob (Communists... Socialists... Democrats...Traitors... Who can tell the difference?)
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To: rktman

The U.S. market for legal marijuana, currently valued at $1.4 billion, is projected to grow to $2.3 billion in 2014 and $10.2 billion in five years.

If you think the banks aren’t going to lobby to get a piece, you’re nuts. And if we know one thing about America, the banks get what the banks want.


31 posted on 01/14/2014 4:56:31 AM PST by Wolfie
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