Weed legalized in Colorado, WASHINGTON, and Mitt Mormoney loses? :wow:

daze23

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Sensitive Blake Griffin

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daze23

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Pot legal Dec. 6, 'jury is out on what happens' after that | Local News | The Seattle Times

Pot legal Dec. 6, 'jury is out on what happens' after that

Possession of small amounts of marijuana becomes legal on Dec. 6 in Washington thanks to Initiative 502. But will the feds stop the state from licensing stores to sell it?

Washington's grand social experiment with marijuana legalization begins Dec. 6 with a simple step: On that date, it is legal to have an ounce of the stuff, and there is little the federal government can do about it.

But how the state takes the next big step — transforming the marijuana black market into a closed, regulated and taxed marketplace — is unclear. And the federal government didn't help clarify its potential response on Wednesday.

The U.S. Department of Justice and U.S. Attorney Jenny Durkan, of Seattle, declined to answer questions about the conflict between the federal ban on marijuana and the new state law legalizing it for recreational use. A DOJ statement reminded voters that the federal ban "remains unchanged," and said the agency was reviewing the legalization measures, here and in Colorado.

Even as legalization proponents celebrated the historic confrontation with the federal drug policy, the state began the yearlong job of setting up a marijuana market. Which means within a month, you can possess marijuana and use it in private, but there's no place to legally buy it.

Gov. Chris Gregoire, speaking on KUOW radio on Wednesday morning, said she hoped to work closely with the next governor on Initiative 502 before she leaves office in January.

"The jury is out on what happens," said Gregoire, referring to the federal response. "Meanwhile, my job as governor is to do what the people of the state of Washington have said they want done."

Bob Ferguson, the incoming state attorney general, said he could not predict the federal response. "I'm 100 percent looking forward to defending the will of the people and will defend it vigorously."

The federal government has several options to respond to I-502, including suing to block creation of a legalized marijuana market, said Hugh Spitzer, a University of Washington constitutional-law professor.

"I'm not saying they will. I'm saying they could," said Spitzer.

But what they cannot do is force Washington to reverse course and ban small amounts of marijuana possession, he said. "Under the U.S. Constitution, the federal government can't force a state to make something illegal."

The DOJ could also simply continue to enforce federal drug law, including arresting people who get state marijuana-growing and retailer licenses.

That's what Attorney General Eric Holder threatened to do before a 2010 marijuana-legalization vote in California, and is what former Drug Enforcement Administration chiefs asked Holder to do before Tuesday's vote. Instead, the DOJ was silent.

Peter Bensinger, DEA chief from 1976 to 1981, believes the feds will act. "I can't see the Justice Department doing anything other than enforce the law. There's no other out," he told The Associated Press.

Seattle City Attorney Pete Holmes, a vocal supporter of I-502, said a federal lawsuit would be premature, since no state-licensed marijuana store will open until at least December 2013.

"There's no reason to think there won't be an adult conversation with the feds," said Holmes. "I don't think for a minute they're going to blindly ignore the voice of the voters. They need to recognize that prohibition is not working."

That is also the hope of Colorado's Amendment 64 campaign, said spokeswoman Betty Aldworth. "At this point, we are cautiously optimistic that the federal government will respect the will of voters in Colorado and Washington and allow us to regulate marijuana as we best see fit."

Meanwhile, the Washington state Liquor Control Board (LCB) has begun planning for how to build marijuana regulations "from the ground up," it said in a statement Wednesday.

Board member Chris Marr said the agency will get input from experts, including the medical-marijuana industry, law enforcement and drug-treatment providers, and will likely hold public meetings around the state.

"It needs to be a very public dialogue about this, because it's pretty groundbreaking."

Although the federal response was unclear, Marr said the revenue potentially generated by I-502's steep marijuana sin taxes — estimated at potentially $1.9 billion over the first five years — will focus attention on getting the market up and running, he said.

"By anyone's estimate, that's a lot of new, un-earmarked revenue for the state," he said.

Despite the uncertainties, enthusiasm for legalized marijuana seemed boundless, at least in Seattle. Several medical-marijuana dispensaries, including Have A Heart CC in North Seattle, reported people filling storefront shops Wednesday even though they weren't authorized patients.

Ryan Kunkel, co-founder of Have A Heart, said the customers seemed to assume marijuana was legal now, so it should be available to buy. "There seems to be some miscommunication out there," he said.
 

Brown_Pride

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should we outlaw gas stations and jewelry stores, and blah blah blah

i'm just saying it's ammo against the fight.
This shyts already being spun against legalization all cause 3 dudes wanted to make some ends? Gonna fuk it up for everyone else?

Some people are just selfish.
 

valet

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To go with the person who brought up DUI's. How exactly is this gonna be regulated? With alcohol you have levels of what's moderate and what's excessive while driving. How will that determined? What exactly would be "moderately" smoking Mary before going behind the wheel?
 

daze23

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i'm just saying it's ammo against the fight.
This shyts already being spun against legalization all cause 3 dudes wanted to make some ends? Gonna fuk it up for everyone else?

Some people are just selfish.

I'll also point out that those robberies happen in states that have medical marijuana, but still have a large black-market. I imagine it would be a different situation in a state with full legalization
 

badvillain

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Obama was a huge weed smoker in High School and College. Trust me, there won't be a huge DEA intervention. We got this:

s-OBAMA-SMOKES-large.jpg




rare-obama-1.jpg

Just because someone participated in an activity 20 plus years ago doesn't mean his stance on the issue is the same now, especially when that stance will result in a negative impact from his fellow politicians and big business. You can't be this naive breh.

Amid an increased crackdown on medical marijuana producers across the nation, including a recent high-profile raid on a California training school, President Barack Obama faced questions in a new interview with Rolling Stone about the seeming disconnect between his 2008 campaign rhetoric and his administration's actions since he took office.

"I'm not going to be using Justice Department resources to try to circumvent state laws [on medical marijuana]," Obama promised in 2008, according to an earlier Rolling Stone report. But Attorney General Eric Holder announced in 2010 that federal authorities would continue to prosecute individuals for marijuana possession, despite its legalized status in some states.

The Huffington Post's Lucia Graves reported recently on subsequent enforcement activity:

Since then, the administration has unleashed an interagency cannabis crackdown that goes beyond anything seen under the Bush administration, with more than 100 raids, primarily on California pot dispensaries, many of them operating in full compliance with state laws. Since October 2009, the Justice Department has conducted more than 170 aggressive SWAT-style raids in 9 medical marijuana states, resulting in at least 61 federal indictments, according to data compiled by Americans for Safe Access, an advocacy group.
Speaking with Rolling Stone, the president tried to explain his original comments, claiming that the recent pressure on dispensaries and providers was in line with his intent.

"What I specifically said was that we were not going to prioritize prosecutions of persons who are using medical marijuana," Obama said. "I never made a commitment that somehow we were going to give carte blanche to large-scale producers and operators of marijuana -- and the reason is, because it's against federal law."

The president continued: "I can't nullify congressional law. I can't ask the Justice Department to say, 'Ignore completely a federal law that's on the books.' What I can say is, 'Use your prosecutorial discretion and properly prioritize your resources to go after things that are really doing folks damage.' As a consequence, there haven't been prosecutions of users of marijuana for medical purposes."

Obama then shifted gears away from marijuana, saying that a "broader debate" on drug laws was warranted.

While the president appears to believe that his administration's actions against medical cannabis don't conflict with his earlier statements on the issue, some lawmakers around the country disagree.

Lawmakers in five states that have legalized medical marijuana recently wrote a letter to Obama criticizing him for a supposed "contradiction" on the matter and calling on the federal government "not to interfere with our ability to control and regulate how medical marijuana is grown and distributed."

Obama Explains Increasing Medical Marijuana Crackdowns, Raids In 'Rolling Stone' Interview

And here's the DEA Head, Michelle Leonhart's, opinion on marijuana vs other illicit drugs (start at 1:32):
[ame=http://youtu.be/HrHecD8JhfY?t=1m32s]DEA Head's Absurd Marijuana Testimony - YouTube[/ame]
 

bsmooth

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WE PETITION THE OBAMA ADMINISTRATION TO:
Remove marijuana from the federal Controlled Substance Act and allow the states to decide how they want to regulate it.
Some states have clearly indicated that they wish determine how to regulate marijuana at the state level through medical marijuana programs or by legalizing personal use. Please remove federal implications by removing marijuana from the Controlled Substance Act.


https://petitions.whitehouse.gov/pe...tes-decide-how-they-want-regulate-it/lzSd9fcG
 

-InFeRnO-

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Just because someone participated in an activity 20 plus years ago doesn't mean his stance on the issue is the same now, especially when that stance will result in a negative impact from his fellow politicians and big business. You can't be this naive breh.



Obama Explains Increasing Medical Marijuana Crackdowns, Raids In 'Rolling Stone' Interview

And here's the DEA Head, Michelle Leonhart's, opinion on marijuana vs other illicit drugs (start at 1:32):
DEA Head's Absurd Marijuana Testimony - YouTube

wow obama cannot be serious with this bytch :snoop:
 

newworldafro

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Marijuana-dispenser stock gets too high - MarketWatch

Nov. 16, 2012, 4:01 p.m. EST
Marijuana-dispenser stock gets too high

By Quentin Fottrell

A company that creates medical-marijuana dispensing machines says its stock is getting way too high.


Medbox MDBX -90.24% shares surged 3,000% this week -- from roughly $4 Monday to $215 Thursday -- before falling to $100 after executives sought to dampen investor enthusiasm.

In a news release today, the company said that the stock’s rocket launch, which sent its market cap skyrocketing from $45 million at the start of the week to a staggering $2.3 billion, was ignited by a MarketWatch story Tuesday on how to invest in legalized marijuana (see How to invest in legalized marijuana .) (That’s about double the market capitalization of retailer Jos. A. Bank Clothiers.) The stock, which fell around 50% in early trading Friday, still hovers at $100. “We believe an appropriate trading range is between $5 and $10 but, alas, the market will do what it will do,” says Medbox founder Vincent Mehdizadeh.

At the height of trading this week, $600,000 to $700,000 worth of purchases were made, an unusually high volume for a company of this size. “It was astonishing,” Mehdizadeh says. “We couldn’t really understand why that was happening other than that there was a high demand for stock with limited supply.” It was “thin volume,” but Mehdizadeh says he doesn’t know whether it was one hedge fund or several big buyers.

The company says it’s also investigating ways to minimize any potential shareholder losses. Medbox is in discussions with its attorneys to see if it can reward early investors with company-owned shares should the price they bought at in recent days fall significantly. “We don’t want those investors to have sour feelings about what happened,” Mehdizadeh says. “Obviously day traders are having a field day lately trading our stock.”

But it’s very risky to invest in drugs prohibited at a federal level, experts say. Nearly 500 of the estimated 3,000 dispensaries nationwide have closed or were shut down by the federal government in the past year, according to StickGuide.com, an online directory for medical marijuana dispensaries. Currently, Medbox has 130 dispensers in the field and is due to install 40 more next month, and says it’s looking at the broader pharmaceutical market.

While the rush investors got from the company’s wild surge this week may be matched in coming years, the Hollywood, Calif.-based company says it is confident in its future prospects. Medbox reported a third-quarter revenue of $1.3 million, up from $850,000 in the second quarter. Medbox forecasts revenue of $24 million by the end of the fiscal year 2014 and $48 million by the end of fiscal 2016. It expects earnings before interest, depreciation and amortization to remain at a “healthy” $10.2 million and $22.1 million during those periods. “Real companies don’t need hype,” Mehdizadeh says.

“We feel within 10 years we could legitimately have share prices hit $215 again,” Mehdizadeh says. Currently, there are around one million shares available for trade and, this time next year, he says there will be another one to two million shares trading. Although the company focuses primarily on medical marijuana, he says the temperature-controlled dispensing machines could also be used in prisons and 24-hour drug stores for a larger range of drugs.
 
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