Cannitrol – Cannabis Control Agent

Marijuana news from around the world

Wall Street

Marijuana industry would no longer be cash-only if this bill passes. And this time, it has a better chance.

U.S. Rep. Ed Perlmutter has again introduced legislation allowing marijuana businesses to use banks, removing a hindrance that has plagued Colorado businesses in the five years since legalization.

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Marijuana Industry Needs To Become Wall Street

wall street bull

The United States policy direction is largely dictated by successful industries and their lobbyists.  Once the money has the ear of the politician, favorable laws that can ensure market consistency tend to follow.  Wall Street, for example, thrives on being able to predict consistency and we all know that candidates on either side of the aisle think of New York’s financial district when drafting many laws.  While the success of our investments on Wall Street is volatile and anything but consistent, investors do not have to question if they will be open for business, or if their industry will be shut down due to federal influence.  When regulations are not working for them they simply put the pressure on Congress to help increase profits.

The idea of consistency is a tremendous hurdle for the legalized marijuana industry.  Three states will put a legalization, taxation, and regulation plan to a vote by the people this November.  According to a recent article by The Seattle Times, Washington State could see as much as 1.9 billion in new tax revenue, or they could see $0.00.  This is all contingent upon the how much interference Washington State will have from federal authorities.  However predicting the federal government’s response has been difficult at best.  Team Obama indicated they would not divert resources toward medical marijuana patients and dispensaries that are in compliance with state law.  That has not proved to be the case and many jobs and patients have become collateral damage from this change in policy direction by the White House.

This November could prove to be a turning point for the marijuana reform movement.  Even if one of the three states eligible (Colorado, Washington, Oregon) vote to legalize and regulate cannabis, the move will symbolically show the country is heading in a new direction.  While full legalization may not prevent federal agents from storming dispensaries, it could force them to think twice.  Exactly how eager is our government to prevent job/economic growth and billions in tax revenues?  We also need to take into consideration that although much of our money goes toward funding the overzealous DEA agents, as they too are on a budget.

As our article suggested yesterday, the wheels of progression cannot be stopped and eventually the federal government will not possess enough agents and dollars to continue their assault on our civil rights.  However, with any struggle the powers that be will not give up willingly and are unmoved by patient stories, youth incarcerations, and our rights as citizens.  This industry needs to ratchet up its pressure on our elected officials.  We need to demand that the will of majority is considered and that we need consistency in order to regulate and forecast how much revenue we can rely on in the worst economic period of our generation.  We need laws that protect jobs.  In the sense of political movement and protecting our interests, we need to become Wall Street.

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Medical Marijuana Industry News July 6, 2012

DEA Michele Leonhardt

California Government Sponsored Study Contradicts DEA Position on Marijuana…

Those seeking a reclassification of marijuana as a schedule 1 narcotic may have gotten some uplifting news.  A study sponsored by the California state government and conducted by the University of California Center for Medicinal Cannabis Research may help make this a reality sooner than later.  The study published in The Open Neurology Journal indicates that marijuana was effective in helping to counter neuropathic pain and muscle spasms associated with multiple sclerosis.  Paul Armentano, director of NORML, said in response to the study results that United States drug policy  “is neither based upon nor guided by science.”  The study suggests that cannabis does have some risk for dependency but should place it in the schedule III category.  DEA officials have received considerable criticism lately as they were grilled by US Representative Jared Polis (D-CO) and would not admit that heroin and crack were more dangerous than marijuana.

Click here for more on this study


Long Beach Police Appear to Use Excessive Force During Dispensary Raid…

The Long Beach Police department is now engaged in an investigation into whether or not its officers used excessive force during a recent dispensary raid.  A surveillance video appears to show an officer standing on the neck and placing all of his weight on Dorian Brooks, a volunteer at the dispensary.  The officers did not seem to notice the camera until after they became physical with Brooks.  Immediately after discovering the camera, officers appeared concerned as they proceeded to destroy the surveillance equipment.  Attorney Matt Pappas plans on assisting Brooks in filing a lawsuit against the police department.  Check out the surveillance video below.


Activists Confident Marijuana Legalization Ballot will Pass in Detroit…

Two years ago Detroit activists collected enough signatures to get marijuana legalization on the ballot.  Last month, the Michigan Supreme Court ruled that the referendum should go to the voters this November.  While residents have overwhelmingly supported decriminalization, medical marijuana, and legalization efforts, many law enforcement officials (most notably state Attorney General Bill Schuette) have tried to derail the reform measures.  Recently Tim Beck, chairman of the Coalition for a Safer Detroit stated that he was very confident that Detroit residents will pass a legalization bill.  Mr. Beck went on to say “The poll numbers are so far ahead … This thing is going to pass, period.”  If in fact the referendum is passed, residents over the age of 21 will be permitted to possess under one ounce of marijuana on private property without risk for prosecution or arrest.

For more on this story click here


Longtime Marijuana Advocate Oliver Stone Wants to See End to Cartel Violence

High profile director Oliver Stone has been a marijuana reform supporter for years.  The director of successful films such as “JFK”, “Natural Born Killers”, “Born on the Fourth of July” and “Wall Street” served as an infantryman during the Vietnam War.  Stone has had an opportunity to open up lately regarding his views on marijuana as he is promoting his new film “Savages”.  The film depicts Mexican Cartel violence that is associated with the current war on drugs.  Mr. Stone said he would like to see marijuana legalized, regulated and taxed.  He believes  revenues could help pay for education costs.  In the short term Oliver Stone said decriminalization efforts could be undertaken right away to reduce violence associated with the cartels.

For more on what Oliver Stone had to say click here

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