Trump Will "Probably" Support Bipartisan Marijuana Bill

If you like your dispensary, you can keep your dispensary... or at least that's what a new bipartisan bill introduced by Sens. Elizabeth Warren (D-MA) and Cory Gardner (R-CO) would ensure. 

 

The legislation, known as Strengthening the Tenth Amendment Through Entrusting States (STATES) Act would allow states to regulate marijuana without federal interference by amending the Controlled Substances Act so that it does not supersede any state, territory or tribal laws "relating to the manufacture, production, possession, distribution, dispensation, administration, or delivery of [marijuana]"

 

"It's time to reform American's outdated marijuna policies," Warren tweeted on Thursday.

Gardner says that trying to roll back pot laws would be like "putting ketchup back in the bottle" (baked?) - and noted that current finance laws have made it difficult for legal marijuana businesses to operate. 

“This city of Denver, the state of Colorado, can collect taxes … they can take it to the bank,” Gardner said. “But if you’re in the business, if you work for the business, you can’t get a bank loan or set up a bank account because of the concern over the conflict between the state and federal law. We need to fix this public hypocrisy.”

Gardner and Warren announced in April that they were working together to hold Trump accountable for campaign rhetoric about respecting states rights, while Warren has reportedly said that the goal of the bill is to "ensure that each state has the right to determine for itself the best approach to marijuana within its borders." 

Trump "probably" supports

President Trump says he "will probably end up supporting" the bill according to Politico, putting him at odds with Attorney General Jeff Sessions' hard-line stance on the devil's grass. Sessions rescinded an Obama-era policy which significantly limited prosecution of individuals and businesses who sold pot legally under state laws. 

Pressed on whether he supports the measure while addressing reporters outside the White House on Friday, the president said he supports it now and will “probably” support it going forward.

“I really do. I support Senator Gardner,” Trump said of the lawmaker’s bill. “I know exactly what he’s doing, we’re looking at it. But I probably will end up supporting that, yes.” -Politico

The bill comes as Canada's Senate voted 56 to 30 to legalize recreational marijuana, leaving only a few amendments to be decided on by the House of Commons before the law can be passed. 

While there is not yet a defined date when the drug will go on sale, clearing the Senate appeared to be the last serious hurdle for the bill, with a number of Conservative senators opposing legalisation.

Health minister Ginette Petitpas Taylor said earlier this year that cannabis would only go on sale a few months after legalisation, because new retail systems needed time to launch successfully. -Independent.co.uk

What does this mean for Canadian pot stocks? As Chris Woods at Grizzle.com noted in April: 

The rug has officially been pulled out from underneath one of the largest bubbles in global equities: Canadian marijuana stocks.

1. Legalization of marijuana always equals price deflation – In every legal market, retail and wholesale prices peak near the date of legalization due to lack of supply and then quickly begin to fall, driven down by new entrants.

2.  The black market is the biggest competitor for licensed producers – The marijuana market is mature in Canada with the black-market supply already exceeding demand (Canada exported 20% of marijuana production in 2017). Legal supply will have to compete on a price basis for market share — the black market won’t magically disappear.

3.  Extreme valuations are reminiscent of the 2010 rare earth bubble. The bulls want to believe marijuana is a manufactured and branded product. It’s not. Marijuana is a commodity and always will be (see Colorado, Washington, and California).

MARKET WILL BE FLOODED WITH PLANNED LEGAL CAPACITY – 2X DEMAND

Grizzle compiled the planned capacity of the top 13 legal producers in Canada. Based on estimated consumption rates, Canada will be at least 850,000 kg (85%) over supplied by the end of 2021. Importantly this oversupply doesn’t account for smaller producers or the black market, which is already fully supplying the market.

With no valuation support, marginal management teams, and a skittish retail investor base — the outlook for marijuana equities is bleak.

Comments

overbet TheWholeYearInn Fri, 06/08/2018 - 15:46 Permalink

If you want to smoke and get lazy and stupid thats your choice, but there should be mandatory drug testing for any kind of government assistance benefits. Smoke all you want, but I shouldnt have to pay for your lazy stupid ass just like I shouldnt have to pay for fat fucks that eat bad and smoke. By all means, choose your own lifestyle, but dont expect me to be responsible for the consequences. 

In reply to by TheWholeYearInn

ravolla bobcatz Fri, 06/08/2018 - 17:10 Permalink

Hello SPAM-LOVERS!!!  I m BACK from being BANNED!!!   My man "bobcatz" is back after spending some time working at the Porn Cinema, and we are waiting for  "Leakanthrophy" to show up IN DA HOUSE with the Mexican Midget Wrestling Three-Way Lesbo PORN!    Big up "Leaky" (even though you can't get it up).

Let's get right to it  -> I'm here TAG-TEAMING OFF-TOPIC SPAM POSTINGS with Wadalt and Leakanthrophy and bobcatz, my best buds (up above)   AND  alternate log-on's====Even though all of us "people" here are really  just one crazy obsessed deeply disturbed SPAMMER with a bazillion log-on's, Wadalt and Leakanthrophy and bobcatz and I are like bro's -- SPAMMIN' BROs.  

I am out of the Penalty Box and ready to SPAM every thread on ZH like a grease fire in a dumpster.

****

Did your bitch run late?  IT's the JOOS!!

Did your bitch get the child support doubled?  IT's the JOOS!!

Did your Johnson let you down?  IT's the JOOS!!

IT's the JOOS!!  

The JOOS did it and they DO EVERYTHING!!!  It's ALL the JOOZ!!!!

****

SAD BUT TRUE!!  I have wasted my youth (or at least the last five years) with at least one hand in my pants and the other hand SPAMMING ZH.  Yes, indeed.  DOZENS and DOZENS (maybe hundreds) of log-on's banned -- 
>>  Biblicism: that's me.
>>  All the porn at Celebrity-leaks: that's me
>>  "I made $7500 last week on the Internet sucking cock!": that's me. 
>>  Daily Westerner: that's me.
 
That's my life: mopping the floor at the Porn Cinema at 2am, working the drive-thru window at SONIC, sucking cock on the Internet, and spamming ZH with an enormous Excel spreadsheet of the log-on's of dozens of "digital friends" who upvote one another and virtually suck my little micro penis..

Just check out my other log-on's { "bobcatz"  AND  "Mr Hankey"  AND  "Jumanji1959"  AND  "Anunnaki"  AND  "PrivetHedge"  AND  dozens of others, and dozens and dozens banned)!!!   We all say the same thing!!   It just PROVEs we are all right and that it's all truetrue and that I am COMPLETELY WHACKED with multiple squabbling personalities!!!  We all talk to each other constantly on ZH!!!  How WHACKED is that? 

Swing by my (our?) double top-secret awesome BLOG about how the JOOS do everything AND, while you are there dying a slow death, pick up a CHRISTIAN VIRUS and a whole load of CRUSADER TROJANS inside your DEVIL COMPUTER:

wwwww.BiblicismInstituteForTheRaciallyObsessedAndTheFeebleMinded.orgasm

 

WARNING:  GRAPHIC STUPIDITY

 

In reply to by bobcatz

philipat ravolla Fri, 06/08/2018 - 19:57 Permalink

@ravolla. Note to those down voting: this is rAvolla, not the spammer rEvolla but using the same avatar. Great work, unfortunately not many here seem to "get it" (Americans don't seem to understand sarcasm unless it is specifically flagged for them?) that you are making one mighty piss-take out of our "friend":

revolla, beepbop, pier, lloll, bobcatz, loebster, ergatz, armada, Mtnrunnr, Anonymous, luky luke, Cjgipper, winged, moimeme, macki mack, tchubby, sincerely_yours, HillaryOdor, winged, lexxus, kavlar, lhomme, letsit, tazs, techies-r-us, stizazz, lock-stock, beauticelli, Mano-A-Mano, mofio, santafe, Aristotle of Greece, Gargoyle, bleu, oops, lance-a-lot, Loftie, toro, Yippee Kiyay, lonnng, Nekoti, SumTing Wong, King Tut, Adullam, evoila, rp2016.

And at least 30-50 other suspected logins, slowly being “upgraded” to the list of infamy.

And yes, he has taken so much flack that he has now reverted to using "bobcatz" again with a new avatar. It seems he will never just fuck off?

In reply to by ravolla

PiratePiggy Buckaroo Banzai Fri, 06/08/2018 - 16:21 Permalink

To bring back the intent of the 10th Amendment, we must repeal the 17th Amendment, ratified in 1913, with removed the state's representation in Washington and caused to Federal government to grow unchecked with no state's rights representation.

Today the federal government makes almost everything a federal crime when it is already a state crime.

It creates so much duplication and waste and countless lawsuits between the Federal government and the state governments.

 

https://reason.com/blog/2010/06/01/debating-the-17th-amendment

 

In reply to by Buckaroo Banzai

Miggy Charles Wilson Fri, 06/08/2018 - 18:18 Permalink

Good point and so much more. It is showing the hypocrisy of our attorney general who is a supposed conservative where states rights are supposed to rule. It is exposing the industries that are making loads of cash from the clearly failed "war on drugs" but continue to rail against weed. An article comes out against Trudeau from years ago claiming harassment the day after Canada legalizes it. It is exposing the drug companies and their hypocrisy because cannibas clearly has tremendous benefits for people struggling with very difficult circumstances, including kids (seizures) and possibly cancer. It has exposed the federal government for being in the pockets of many such industries named above for classifying pot as a schedule 1 drug which is ludicrous.

 

Marijuana has been the single most important wedge issue exposing hypocrisy and greed than I can remember.

 

And I can tell you this. If I or a family member gets cancer or one of the sad diseases cannibas helps you better believe I will be getting my bag fulls regardless of what some bloated, corrupt bureaucrat says.

In reply to by Charles Wilson

nekten Buckaroo Banzai Fri, 06/08/2018 - 17:00 Permalink

Not at all. The Tenth Amendment is quite alive. Thriving even, much due to the efforts of Michael Bolton and crew at http://tenthamendmentcenter.com/.

TAC has managed to get Red states and Blue states defying the Feds (on different issues, of course). Blue states tend to want to rein in Fed marijuana laws, police militarization, and NSA/FBI/CIA spying on Americans in America. Red states want to remove the Feds say on 2nd Amendment issues, gold as money, and Federal interference in education.

It's a beautiful way to reinforce the idea of States as laboratories and proving grounds.

In reply to by Buckaroo Banzai

Chupacabra-322 nekten Fri, 06/08/2018 - 18:30 Permalink

@ new,

”Blue states tend to want to rein in Fed marijuana laws, police militarization, and NSA/FBI/CIA spying on Americans in America.”

You sure about statement. Because the Tyrannical Lawless, Politicized Democratic Obama Criminal CIA, FBI & DOJ had absolutely no problem using Police State Tactics and using to Spy & Surveil on the Trump Campaign. 

Don’t get too caught up on the Red / Blue circle jerk of absolute, complete, open, in your Face Tyrannical Lawlessness.

 

In reply to by nekten

The Man from Uncle Barney Fife Fri, 06/08/2018 - 20:25 Permalink

Sorry, but the AMA has declared MJ to be a dangerous drug. About one out of seven people will have a paranoid schizophrenic attack after doing pot. I've witnessed such an event. It's not pleasant. Take into account that MJ and alcohol ingestion are not mutually exclusive! People can get fucked up mentally by the combo. Not enough to trip the breathalizer, but enough to be dangerously impaired. There's no equivalent test to BAC to detect MJ users. The blood levels of THC poorly correspond to its pharmacodynamic effects. People can have high levels of THC metabolites long after they have no psychotropic effects. That's because of its lipohilic properties. There's just no good scientific way to assess impairment by cannabinoids.

In reply to by Barney Fife

swmnguy css1971 Fri, 06/08/2018 - 17:55 Permalink

If you don't spend $1 Trillion per year on the military, that Welfare bill of, let's be generous and count every possible thing one could count as Welfare, $ 1 Trillion, is a whole lot more manageable.

If we cut War Machine spending by 90%, we'd still spend $100 Billion per year, which would keep us among the world's biggest military spenders, and we're protected by two oceans and borders with allies whom we would still spend 5x more than Canada and 1.5x as much as Russia.  China would be the world's #1 military spender, but they use their military for lots of other things we don't.  For instance, I once had an electrical inspector check out my setup in a hotel ballroom in Beijing, and the inspector was from the Red Army.  That was a weird moment, but civilian electrical inspections are apparently part of China's military spending.

And if we spent $900,000,000,000 less on the military, we could fix Social Security, Medicare, ObamaCare, K-12 education, higher education, and our arrears in infrastructure in less than a decade. 

We could also reduce the federal budget deficit and the national debt to next to nothing.  We didn't have those things before we were the world's biggest military spender by a factor of 4x.

After all that, we should probably reward ourselves with a big, fat joint.

In reply to by css1971