The Fed Says No to Pot Money, Unless it's the Government's Pot Money

[Draggingtree]

Mises: The Fed Says No to Pot Money, Unless it's the Government's Pot Money

OCTOBER 22, 2015 Jonathan Newman

 

The Federal Reserve told a federal judge in Colorado to dismiss a lawsuit by Fourth Corner Credit Union, blocking marijuana businesses in the state from legal banking services. This is just one of the many legal conundrums the budding industry has had to face since state law branched away from federal law on marijuana.

 

The businesses have been relegated to holding and securing large amounts of cash on their own. Some have hired private security firms to help, especially in transporting the money and the marijuana.

 

In a motion filed today, the Fed maintains that since marijuana is still prohibited under federal law, "transporting or transmitting funds known to have been derived from the distribution of marijuana is illegal."

[Geee]

Read somewhere some country (sorry suffering from CRS this morning) is considering selling organs to get themselves out of death. Maybe we'll do that next. I mean nothing should be considered wrong should it? It's for the GOOD of all

[Draggingtree]

Read somewhere some country (sorry suffering from CRS this morning) is considering selling organs to get themselves out of death. Maybe we'll do that next. I mean nothing should be considered wrong should it? It's for the GOOD of all

Hmmmmmmmm

[Geee]

 

Read somewhere some country (sorry suffering from CRS this morning) is considering selling organs to get themselves out of death. Maybe we'll do that next. I mean nothing should be considered wrong should it? It's for the GOOD of all

Hmmmmmmmm

 

You do realize I'm being sarcastic right?

[Draggingtree]

 

 

Read somewhere some country (sorry suffering from CRS this morning) is considering selling organs to get themselves out of death. Maybe we'll do that next. I mean nothing should be considered wrong should it? It's for the GOOD of all

Hmmmmmmmm

 

You do realize I'm being sarcastic right?

 

yes never thought anything else