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Author Topic: Legal Marihuana banking problems - solution, bitcoin  (Read 1523 times)
Spendulus (OP)
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January 13, 2014, 03:46:35 PM
 #21

They should have installed proper financial support for this business before legalizing the trade, but indeed maybe good news for Bitcoin. But still a hassle for the shopkeeper.

But that would mean changing federal laws.

I'm not from the US so I am not familiar with this state law - federal law system. ...

Try this on.  We've had and will continue to have cases where sheriffs (town or county) publicly announce that if any federal agents try to come into their area and arrest for (x, y,z) the sheriff will arrest the federal agent.

What? Really? Can they actually do that and have they ever had the balls to do it?
YES THEY CAN.   The way that happens here is that the feds and the local sheriff arrive and a 'crime site' or whatever it actually is, and a big shout out ensues.  Have feds actually been arrested by sheriffs, good question, worth looking up.

But crazy stuff goes on, lol....
guybrushthreepwood
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January 13, 2014, 04:10:20 PM
 #22

They should have installed proper financial support for this business before legalizing the trade, but indeed maybe good news for Bitcoin. But still a hassle for the shopkeeper.

But that would mean changing federal laws.

I'm not from the US so I am not familiar with this state law - federal law system. ...

Try this on.  We've had and will continue to have cases where sheriffs (town or county) publicly announce that if any federal agents try to come into their area and arrest for (x, y,z) the sheriff will arrest the federal agent.

What? Really? Can they actually do that and have they ever had the balls to do it?
YES THEY CAN.   The way that happens here is that the feds and the local sheriff arrive and a 'crime site' or whatever it actually is, and a big shout out ensues.  Have feds actually been arrested by sheriffs, good question, worth looking up.

But crazy stuff goes on, lol....

Sounds comical, but surely Feds overrule local police just like the laws do?
TECSHARE
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January 27, 2014, 05:31:17 PM
 #23

They should have installed proper financial support for this business before legalizing the trade, but indeed maybe good news for Bitcoin. But still a hassle for the shopkeeper.

But that would mean changing federal laws.

I'm not from the US so I am not familiar with this state law - federal law system. ...

Try this on.  We've had and will continue to have cases where sheriffs (town or county) publicly announce that if any federal agents try to come into their area and arrest for (x, y,z) the sheriff will arrest the federal agent.

What? Really? Can they actually do that and have they ever had the balls to do it?
YES THEY CAN.   The way that happens here is that the feds and the local sheriff arrive and a 'crime site' or whatever it actually is, and a big shout out ensues.  Have feds actually been arrested by sheriffs, good question, worth looking up.

But crazy stuff goes on, lol....

Sounds comical, but surely Feds overrule local police just like the laws do?

Due to the structure of constitutional law, local sheriffs actually have more authority in their jurisdiction than the federal government.
guybrushthreepwood
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January 27, 2014, 05:37:35 PM
 #24

They should have installed proper financial support for this business before legalizing the trade, but indeed maybe good news for Bitcoin. But still a hassle for the shopkeeper.

But that would mean changing federal laws.

I'm not from the US so I am not familiar with this state law - federal law system. ...

Try this on.  We've had and will continue to have cases where sheriffs (town or county) publicly announce that if any federal agents try to come into their area and arrest for (x, y,z) the sheriff will arrest the federal agent.

What? Really? Can they actually do that and have they ever had the balls to do it?
YES THEY CAN.   The way that happens here is that the feds and the local sheriff arrive and a 'crime site' or whatever it actually is, and a big shout out ensues.  Have feds actually been arrested by sheriffs, good question, worth looking up.

But crazy stuff goes on, lol....

Sounds comical, but surely Feds overrule local police just like the laws do?

Due to the structure of constitutional law, local sheriffs actually have more authority in their jurisdiction than the federal government.

Somehow I can't see a local sheriff standing up to Fed lol.
TECSHARE
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January 28, 2014, 08:26:16 AM
 #25

It happens more than you think. This society is SUPPOSED to be based on rule of law, and the law says a local sheriff is the ultimate authority in any given jurisdiction. You can rot in a local jail cell just as easily as a federal one.
bra4our
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April 05, 2017, 12:26:02 PM
 #26

Because the banks know that once they legalize it, They wont be able to launder money for their Cartel friends and that stops them from making a huge profit. Its all about money to them.
Xester
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April 05, 2017, 01:00:17 PM
 #27

Just saw this...scary...

http://www.nytimes.com/2014/01/12/us/banks-say-no-to-marijuana-money-legal-or-not.html?_r=0

I understand how the complex mess of law and regulation could lead to this, but what's the solution?

Duhh...

We cannot really dictate the banks since it is their policy and there are very serious reasons why they dont accept money coming from marijuana business. The only way to be freed from this catastrophe is to make a small pharmaceuticals and process the marijuana into a substance such as medicine for stomach ache and etc. Though the banks are not accepting money from marijuana merchants but they are accepting maoney from pharmaceuticals that uses marijuana in making medicines.
GreenBits
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April 06, 2017, 03:20:55 AM
 #28

Because the banks know that once they legalize it, They wont be able to launder money for their Cartel friends and that stops them from making a huge profit. Its all about money to them.

I'm thinking the shareholders of private prisons  are more complicit than the banks. Our failed marijuana policy puts a great deal of people.in jail and subsequently generates a lot of federal funding. If this ever dried up, that particular industry would evaporate overnight, and the are REALLY entrenched. We had started to peel back our reliance on private prisons towards the end of Obama's administration, but Trump has signaled.the opposite, a more aggressive stance on marijuana recreationally, and the decision to continue using the private prison system.

Stocks for private prisons soared after he won. It's a bit telling.
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