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    • The Cry of Medical Marijuana Market for Banking Services Encourages Legislation in Colorado

      marijuana isn’t illegal in 17 different states in the United States, but the market has definitely a black economy – and typically it’s just a cash basis.



      Banks wants nothing to do with the cash. Under federal rule, marijuana isn’t legal, and processing investments or transactions with marijuana money sets banks that are federally insured in jeopardy of drug-racketeering allegations.


      In Colorado state, lawmakers there are seeking an end-run with regards to the federal prohibition with a law that would make the primary state of the country obliging financial organizations for growers and dispensaries enabling them to borrow and store funds.


      The plan, if passed, would become an instant challenge to the Department of Justice of the country, which advises that every financial deal regarding marijuana funds aren’t legal.


      However, for the more than 600 marijuana dispensaries in the state of Colorado, and hundreds of associated industry employees and growers, the predicaments of being unable to store pot money is extremely huge to make the trial meaningful.


      marijuana production have huge amounts of money on their grounds, an information as commonly called as the product’s cost they market.
      A lot of Democrats have planned federal law prompting medical marijuana production’s financial services in several states legal.
      Comments 48 Comments
      1. DGT309's Avatar
        DGT309 -
        They want us to pay taxes in order to legitimately run a business, but they don't want us putting money into banks to create proper paperwork and simply create a paper trail for a licensed business ? OK
      1. Ganja farmer 1's Avatar
        Ganja farmer 1 -
        Banks don't want people to put money in there bank, they want customers to overdraft there accounts.We are making money.
      1. Crazyhair's Avatar
        Crazyhair -
        There is a big difference between banks operating a crooked business and a pot grower. The banks will get bailed out and handed money after their illegal scams go bad. Pot growers on the other hand are criminals, and suspicious looking bad, bad people and seek to undermine corporate America. Tell the banks to stuff it and get a safe! Then you won't be contributing to the corrupt legal system and have a clearer conscious because of it! I feel better already!
      1. so.far.so.good's Avatar
        so.far.so.good -
        This rejection from the banks kind of gives us a clue on who is running the banks. The pharmacies and drugmakers and the FDA. That is why ganja will never be classified as a schedule 2 drug and sold from pharmacies because of a nonpatented plant that they can't monopolize and glean commission on.
      1. so.far.so.good's Avatar
        so.far.so.good -
        Can't say F D A here.
      1. missnu's Avatar
        missnu -
        Aww man I just think it is such crap...it should be legal...we would save so much money as a country in just stopping pursuing it...just stop, and then use all that extra money for healthcare or education... I dont see what the big deal is and why it is such an issue...I mean they let alcohol go and everything got better...we need it again...
      1. missnu's Avatar
        missnu -
        yuck...just yuck...I feel like I am a selfish person sometimes...but jesus, the idea of being that selfish...and the people on here that make a living by selling at street value and what not that get mad about the idea of it being just legal...what?! I would prefer to make less money while also not risking jail...I mean i know the idea of no risk no gain...but how much gain does a person need?
      1. mtgeezer's Avatar
        mtgeezer -
        The feds only want people in the MMJ business to pay their taxes so they know who to target and hit with outrageous tax bills for running an illegal enterprise. Anyone in the MMJ indistry would be better served by stockpiling their cash somewhere safe, buying gold and other precious metals and investing in municipal bonds which do not have your name attached to them and pay interest yearly.If you run a MMJ dispensary or raise MMJ and put your money into a bank account or even a safety deposit box it makes it much easier for the feds to confiscate as being illegal assets of a criminal enterprise. The feds are as stupid as the day is long. If they left the businesses alone that operate legally according to their states' laws the influx of taxes would be a great boon to the current economy besides the amount oof people who would be paying income tax from wages earned and not draining the welfare and unemployment funds.
      1. jbsoriginality's Avatar
        jbsoriginality -
        well at least now everybody who robs knows who has lots of cash on hand to rob!
      1. SWED.boy's Avatar
        SWED.boy -
        SO wait i am confused dont the banks need the money.... i suppose they are just waiting for their govt bailouts.... oh well whatever maybe one day we can all look back on this smoke a joint and laugh...
      1. Rtazmann's Avatar
        Rtazmann -
        I think they are taking an issue to far for a weed..there is no animal called addiction,,,,people like the high or they don't,,,,,someone is lying about that,,,i smoked mj for 30 years got up one morning and said to myself ,,,,no more,,,,i quit ,,and that was it...and the Banks are getting money under the table,,,,no Bank will refuse millions of dollars,,,tell that to a lawyer,,,,lol...after fighting a pot war for 50 years,,,it was over in 49,,,time we get serious ,,mj is here to stay,,,face it..
      1. georgyboy's Avatar
        georgyboy -
        I agree with crazyhair above to an extent. The only problem with having that much cash is the fact that everyone knows you have it. Big dispensaries and growers then become big targets for an armed robbery. Yet owning a gun and having a stash of cash and an illegal drug doesn't look good in federal court. It all helps make the business appear more dangerous and criminal to the public and in the media.
      1. skunkstar's Avatar
        skunkstar -
        free the people grow the weed,every body be happy,peace out and stay safe.....
      1. Monkeymonk840's Avatar
        Monkeymonk840 -
        Problem with that is you can't use cash to buy things w a bank loan. U have to legitimize cash in this system. So basically cash is worthless to them. And to you except to buy w out a bank and then if over 9000 I believe u will b getting a call from the IRS. It's how the man holds you down even if u do have some cheddar. My advise don't tread on me is coming back.
      1. NattyDread1978's Avatar
        NattyDread1978 -
        the gov bastards dont want it legal because they cant control something that grows naturally. damn religous propaganda's had it illegal for years with no good reason. it has more positives than alcohol or ciggarettes but that craps legal....cause most ppl cant produce them without some kind of knowledge or skill. but good ole weed grows the way God intended, for everyone! Jus legalize it already n watch how much of a kick it would give our economy> love peace n pineapple express!!!
      1. VERMONTSKUNK's Avatar
        VERMONTSKUNK -
        Your talking about a country that has gotten what its wanted(spoiled) since its inception! I am not surprised that they leave undertones of we may raid you at any moment. The fact that medical or even reg cannabis is a huge income producer and the fact that most states borrow from the federal government to meet there fiscal budget's! It only makes sense that it be legalized to some degree and taxed. Why is this so hard to do now with all the money that is produced from this medicine. On the otherhand im not sure i want the guerilla growers to stop. Just being honest here folks.
      1. ironheadxl's Avatar
        ironheadxl -
        i kindly direct you to this most excellent post at salon gutting the "the prez' and appropriately so.http://www.salon.com/2012/04/26/obam...ana/singleton/
      1. WeeGogs's Avatar
        WeeGogs -
        Quote Originally Posted by Rtazmann View Post
        I think they are taking an issue to far for a weed..there is no animal called addiction,,,,people like the high or they don't,,,,,someone is lying about that,,,i smoked mj for 30 years got up one morning and said to myself ,,,,no more,,,,i quit ,,and that was it...and the Banks are getting money under the table,,,,no Bank will refuse millions of dollars,,,tell that to a lawyer,,,,lol...after fighting a pot war for 50 years,,,it was over in 49,,,time we get serious ,,mj is here to stay,,,face it..

        skunk is highy addictive, get your facts right, the pot war will never be won!

        there are people that have actually recieved brain damage from its use, mj does not affect every one in the same way, you may smoke it for 60 years and be ok, i may smoke it for 60 hours and end up a raving schitzophrenic, simple as that.
        mind you in a country where they cannot be bothered to get rid of the number one murder weapon namely the gun i dont suppose putting a little mj in to your body will bother them, take a smoke and worry about the consequences later.

        in the uk they have already legalized it for medical use and the government grow it themselves, it is then produced in to an oil to be taken orally as a medicine, which people recieve free on the nhs, how the high affects them i dont know.
        but how on earth someone can say that the war will soon be won when western countries are outlawing smoking entirely whether it be a harmless cigarette or a high inducing cigarette it does not matter, in the uk if you are found with a gramme or two of mj you will get a caution, if you are found with an ounce or two you will go to court, and get a fine or a short prison sentence, if found with kilos of the stuff they can throw the key away, but you see, it makes it easy to identify what is legal and what is not, the government medical oil is what it is.
        ground skunk lying in a grinder is not an oil and is not legal.
        i think you will find that even in amsterdam where it is legal on the street to carry mj, it is not legal to smoke it but only in special cafes, it is not legal to smoke it even in your own home, it is very very much under government control, you will go to jail if caught growing it, you will be fined heavily or imprisoned if found with it outside of a certain patch, and it has been legal over there forever if you get my pun,
        i think you will find if they legalise it for the publics use in the states i think you may find a different product on medical street than the stuff you want to get hold of and then it makes it very easy for them to jail you whether it be a personal or financial gain.
        in the uk before the medical oil was recognised the cops used to turn a blind eye when they found you with it, now they want your money or your freedom, and they have got you by the balls.

        mark my words. 14/07/2012
      1. thirdeyemama's Avatar
        thirdeyemama -
        My first post. HUZZAH for you!

        Quote Originally Posted by missnu View Post
        yuck...just yuck...I feel like I am a selfish person sometimes...but jesus, the idea of being that selfish...and the people on here that make a living by selling at street value and what not that get mad about the idea of it being just legal...what?! I would prefer to make less money while also not risking jail...I mean i know the idea of no risk no gain...but how much gain does a person need?
      1. mr nicely anomus's Avatar
        mr nicely anomus -
        Quote Originally Posted by WeeGogs View Post
        skunk is highy addictive, get your facts right, the pot war will never be won!

        there are people that have actually recieved brain damage from its use, mj does not affect every one in the same way, you may smoke it for 60 years and be ok, i may smoke it for 60 hours and end up a raving schitzophrenic, simple as that.
        mind you in a country where they cannot be bothered to get rid of the number one murder weapon namely the gun i dont suppose putting a little mj in to your body will bother them, take a smoke and worry about the consequences later.

        in the uk they have already legalized it for medical use and the government grow it themselves, it is then produced in to an oil to be taken orally as a medicine, which people recieve free on the nhs, how the high affects them i dont know.
        but how on earth someone can say that the war will soon be won when western countries are outlawing smoking entirely whether it be a harmless cigarette or a high inducing cigarette it does not matter, in the uk if you are found with a gramme or two of mj you will get a caution, if you are found with an ounce or two you will go to court, and get a fine or a short prison sentence, if found with kilos of the stuff they can throw the key away, but you see, it makes it easy to identify what is legal and what is not, the government medical oil is what it is.
        ground skunk lying in a grinder is not an oil and is not legal.
        i think you will find that even in amsterdam where it is legal on the street to carry mj, it is not legal to smoke it but only in special cafes, it is not legal to smoke it even in your own home, it is very very much under government control, you will go to jail if caught growing it, you will be fined heavily or imprisoned if found with it outside of a certain patch, and it has been legal over there forever if you get my pun,
        i think you will find if they legalise it for the publics use in the states i think you may find a different product on medical street than the stuff you want to get hold of and then it makes it very easy for them to jail you whether it be a personal or financial gain.
        in the uk before the medical oil was recognised the cops used to turn a blind eye when they found you with it, now they want your money or your freedom, and they have got you by the balls.

        mark my words. 14/07/2012

        well i can say for shaw sativex is not free on the nhs it would cos my friend with ms over £100 a week it is canabis oil rifined useing alcohol (sort of like how thay make pepper spray from peppers/chillies) and comes in a oral mouth spay altho i prefer to make a diffrent kind of canabis oil useing butain gas method stripping the thc an oils in a gas bath then leaveing the gass to disapate in a metal bowl... i refine it for use by myself only its strong stuff & dangerous isnt the word insanely dangerous might be to make it the canabis oils produced in the uk are a class A substance. however one is now a medicly recognised & patented drug reaching the end of testing,

        the gun comment hmm how bad is knife crime in the uk and is it 5yr in prison for possession of one in the street remove the gun thayle use something else its the intent of a peson not the wepon , guns dont kill pepole pepole do

        evry time i eat something for the first time or come in contact with materials i risk haveing an allergic reaction strong enught to kill me i see it as a simaler thing with drugs i am alergic to co-kain and pollen myself,
        braindamadge from smoking a joint yeh and when i bang my head its funny when a stoner outsmarts straight heads becuse we are so braindamadged the cops have no trouble deaaling with potheads like myself and removeing thare stach. or have thay just drank tomuch booze i dont drink by the way it makes me not so nice to know, especily whean i have a hang over and genraly find 3hr of being stoned from last joint quiet conveinient compaired to getting drunk being imobalized ish and dickedish fololowed by a hangover maybe thats just me?
        my criminal record comprises of f.y.i. 2 suspected thefts no charge (for takeing junk out a skip) 2 cauctions for canabis 1's c & 1's b class due to the law classification blip we had whare the scicence council said to lower it and then the gov aginst thare advise raised it again then last year i got caurght just after picking up 3.5gr senci i recived a warning. so to boil it down the only thing i have on my record is posession of a plant 3 times over ps 3 warnings = cauction 3 cautions equal a courght apperance, posession of quantitys over 7.5gr can lead to supply charges posesson of 1kg or growing = prison, personal factors may make large diffrence in sentanceing

        never been to holland but as far as i know what you say is true we should act like that with alcohol cigerets and ganja