Will “Potphoria on Wall Street” Finally Free American Cannabis?

MARIJUANA POLITICS – The News Source For an Informed Citizenry Post by Don Fitch

The CNBC financial network banner summed it up: “Potphoria on Wall Street.” Investable cannabis stocks, especially Canada’s Tilray (symbol TLRY) and Canopy Growth Corporation (symbol CGC) are seeing wild jumps in value in a frenzy compared to 2017’s Bitcoin tumult. Such action is big news on Wall Street and in the financial networks. Hopefully, such normalization and enthusiasm will boost the on-going efforts of many American congresspeople to free cannabis enterprise of noxious business and legal hurdles. Currently, in the USA, cannabis is classified as one of the most dangerous substances on the planet and suffers from ruinous tax and banking obstacles.

President Trump and the Republicans brag about ending regulations that restrict American business and employment. Trump’s first deregulatory triumph took place soon after his inauguration: his action removed Obama-era restrictions on dumping coal mining wastes into waterways. Trump has since freed-up increased emissions from coal power plants and allowed more release of greenhouse gas methane in fracking operations.

Although Trump has gone all out to save a few thousand dying coal mining jobs, he has done nothing to aid the hindered, but nonetheless thriving cannabis industry from crippling and totally unnecessary restrictions. Hopefully, validation will be given to cannabis businesses by the current well-publicized stock frenzy. The eagerness of investors in this sector should help the President and laggard members of Congress to end idiotic rules hampering American cannabis enterprise.

The basic business problem from American cannabis entrepreneurs is cannabis’ Schedule I status on the Controlled Substances Act. Lowering this scheduling would be helpful, but other CSA schedules present their own problems.

The real solution is removal of cannabis from federal control by removing it totally from the CSA, where it should never have been in the first place. Legislation to do just that awaits further congressional action. The Marijuana Freedom and Opportunity Act was introduced in June 2018 as Senate Bill 3174. It removes cannabis from the federal schedules and allows the states to legislate cannabis as they see fit. Unfortunately, Govtrack gives it “3% chance of being enacted according to Skopos Labs (details).”

Until that cannabis is descheduled, business involving the plant face crushing tax problems. A 1986 provision of the IRS Code, 280E disallows common business expenses in cannabis enterprises, leaving them with ruinous taxation. Oregon Senator Ron Wyden’s bill S. 776: Marijuana Revenue and Regulation Act would remove this business-crippling provision. Unfortunately, it is given a mere 2% chance of becoming law at Govtrack.

A second baffling barrier to common business practices faces by American cannabis entrepreneurs is a nearly total lack of banking services. Because of cannabis’ Schedule I status, it is treated as a pariah by banks. Bizarrely, American cannabis businesses must operate on a nearly cash-only basis. This outrageously anti-business regulation is also addressed in current legislation.

Unfortunately, none of the bills below are given more than a 3% chance of passage into law by Govtrack.
Bills and Resolutions

H.R. 6495: Marijuana Data Collection Act
S. 3174: Marijuana Freedom and Opportunity Act
H.R. 1823: Marijuana Revenue and Regulation Act
S. 776: Marijuana Revenue and Regulation Act
S. 1689: Marijuana Justice Act of 2017
H.R. 4815: Marijuana Justice Act of 2018
H.R. 331: States’ Medical Marijuana Property Rights Protection Act
S. 3409: Veterans Medical Marijuana Safe Harbor Act
H.R. 3391: Medical Marijuana Research Act of 2017

Perhaps the excitement and validation of Wall Street “Potphoria” will shame more American congresspeople, and just maybe the President himself, to see the ludicrous foolishness of current cannabis laws and schedules. These restrictions are anti-business, anti-freedom, anti-health and blatantly anti-American.

Bizarrely, Tilray’s giant leap came as a response to a DEA decision allowing the University of California San Diego to import Canadian cannabis from Tilray for a medical study on a movement disorder at Center for Medicinal Cannabis Research (CMCR). Like, there is no cannabis in California?

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Will “Potphoria on Wall Street” Finally Free American Cannabis?

MARIJUANA POLITICS – The News Source For an Informed Citizenry Post by Don Fitch

The CNBC financial network banner summed it up: “Potphoria on Wall Street.” Investable cannabis stocks, especially Canada’s Tilray (symbol TLRY) and Canopy Growth Corporation (symbol CGC) are seeing wild jumps in value in a frenzy compared to 2017’s Bitcoin tumult. Such action is big news on Wall Street and in the financial networks. Hopefully, such normalization and enthusiasm will boost the on-going efforts of many American congresspeople to free cannabis enterprise of noxious business and legal hurdles. Currently, in the USA, cannabis is classified as one of the most dangerous substances on the planet and suffers from ruinous tax and banking obstacles.

President Trump and the Republicans brag about ending regulations that restrict American business and employment. Trump’s first deregulatory triumph took place soon after his inauguration: his action removed Obama-era restrictions on dumping coal mining wastes into waterways. Trump has since freed-up increased emissions from coal power plants and allowed more release of greenhouse gas methane in fracking operations.

Although Trump has gone all out to save a few thousand dying coal mining jobs, he has done nothing to aid the hindered, but nonetheless thriving cannabis industry from crippling and totally unnecessary restrictions. Hopefully, validation will be given to cannabis businesses by the current well-publicized stock frenzy. The eagerness of investors in this sector should help the President and laggard members of Congress to end idiotic rules hampering American cannabis enterprise.

The basic business problem from American cannabis entrepreneurs is cannabis’ Schedule I status on the Controlled Substances Act. Lowering this scheduling would be helpful, but other CSA schedules present their own problems.

The real solution is removal of cannabis from federal control by removing it totally from the CSA, where it should never have been in the first place. Legislation to do just that awaits further congressional action. The Marijuana Freedom and Opportunity Act was introduced in June 2018 as Senate Bill 3174. It removes cannabis from the federal schedules and allows the states to legislate cannabis as they see fit. Unfortunately, Govtrack gives it “3% chance of being enacted according to Skopos Labs (details).”

Until that cannabis is descheduled, business involving the plant face crushing tax problems. A 1986 provision of the IRS Code, 280E disallows common business expenses in cannabis enterprises, leaving them with ruinous taxation. Oregon Senator Ron Wyden’s bill S. 776: Marijuana Revenue and Regulation Act would remove this business-crippling provision. Unfortunately, it is given a mere 2% chance of becoming law at Govtrack.

A second baffling barrier to common business practices faces by American cannabis entrepreneurs is a nearly total lack of banking services. Because of cannabis’ Schedule I status, it is treated as a pariah by banks. Bizarrely, American cannabis businesses must operate on a nearly cash-only basis. This outrageously anti-business regulation is also addressed in current legislation.

Unfortunately, none of the bills below are given more than a 3% chance of passage into law by Govtrack.
Bills and Resolutions

H.R. 6495: Marijuana Data Collection Act
S. 3174: Marijuana Freedom and Opportunity Act
H.R. 1823: Marijuana Revenue and Regulation Act
S. 776: Marijuana Revenue and Regulation Act
S. 1689: Marijuana Justice Act of 2017
H.R. 4815: Marijuana Justice Act of 2018
H.R. 331: States’ Medical Marijuana Property Rights Protection Act
S. 3409: Veterans Medical Marijuana Safe Harbor Act
H.R. 3391: Medical Marijuana Research Act of 2017

Perhaps the excitement and validation of Wall Street “Potphoria” will shame more American congresspeople, and just maybe the President himself, to see the ludicrous foolishness of current cannabis laws and schedules. These restrictions are anti-business, anti-freedom, anti-health and blatantly anti-American.

Bizarrely, Tilray’s giant leap came as a response to a DEA decision allowing the University of California San Diego to import Canadian cannabis from Tilray for a medical study on a movement disorder at Center for Medicinal Cannabis Research (CMCR). Like, there is no cannabis in California?

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Veteran Advocate Boone Cutler Joins Roger Stone & John Morgan At United States Cannabis Coalition

MARIJUANA POLITICS – The News Source For an Informed Citizenry Post by Marijuana Politics Staff

New York – The United States Cannabis Coalition is proud to announce the appointment of retired US Army Sergeant Boone Cutler to the USCC Advisory Board. A noted author, radio talk show host and veteran’s advocate, Cutler is an important activist for cannabis PTSD treatment. Cutler joins Board Member and former US Army Infantryman Tyler Nixon on the USCC’s Committee on Veterans Access.
“Cannabis literally saved my life’ says Cutler ‘the VA’s combat cocktail was killing me. I was a zombie and my symptoms were getting worse, not better. When I learned that Israel and other developed countries successfully use cannabis to treat issues like mine; it became my mission to fight for my Warfighter family to get the same life-saving cannabis that helped me. Together with the USCC, we will win the fight for real PTSD treatment”.
Cutler’s influence has helped several institutions, including his partnership with the venerable American Legion, to adopt a pro-medical marijuana stance.
Cutler suffered traumatic brain injury during Iraqi Freedom combat operations which later developed into Parkinson’s disease. Cutler spent years shuffling in and out of the VA hospital system, where he was given, as he calls it, ‘the combat cocktail’; 27 different mainly opiate and psych-based medications. Recognizing that the overload of pills was ruining his life, Cutler switched to medical cannabis and finally found relief from his symptoms.
“The demonization of cannabis has become a political movement that’s partnered big-money Pharma lobbyists with politicians to keep it all going for decades” said Cutler, “Good people have been duped, bad people have been made rich, and our families have suffered needlessly. Cannabis-based medicine helps when we stop the madness and treat the patient”.
USCC board member Michael Bowen concurred saying, “Boone is the voice for the millions of veterans pleading to replace the VA’s opiate overload with safer marijuana alternatives. Our work together in ending pot prohibition will save millions of lives”.
“As a combat veteran, Boone Cutler has done more to defend the Constitution than most people can ever imagine” said Bowen “In light of the Gardener-Warren STATES Act, Boone’s voice and experience are particularly relevant to USCC’s crusade for state’s rights on cannabis”.
###
The United States Cannabis Coalition is a bi-partisan, pro-cannabis non-profit project dedicated to persuading federal decision makers — including the president – to support the states’ rights when it comes to marijuana laws. Co-founded by long time Trump advisor Roger Stone and famed trial attorney and Democratic activist John Morgan, the USCC is a project of the United States Freedom Coalition and notable members include Fox News commentator Judge Andrew Napolitano, HBO’s Bill Maher, Former Congressman and National Co-Chair Republican National Committee Thomas B. Evans, Jr, , Former Executive Director American Conservative Union, Christian Josi, CEO of the Coalition for a Strong America, Michael Bowen, Congressman Matt Gaetz of Florida, Curtis Sliwa of the Guardian Angels, Attorney and activist Tyler Nixon, Pastor Mark Burns of South Carolina, Florida State Representative Katie Edwards ( D-Broward), Patrick Moore of the California Hemp Project and Senator Diane Savino (D-New York).

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Veteran Advocate Boone Cutler Joins Roger Stone & John Morgan At United States Cannabis Coalition

MARIJUANA POLITICS – The News Source For an Informed Citizenry Post by Marijuana Politics Staff

New York – The United States Cannabis Coalition is proud to announce the appointment of retired US Army Sergeant Boone Cutler to the USCC Advisory Board. A noted author, radio talk show host and veteran’s advocate, Cutler is an important activist for cannabis PTSD treatment. Cutler joins Board Member and former US Army Infantryman Tyler Nixon on the USCC’s Committee on Veterans Access.
“Cannabis literally saved my life’ says Cutler ‘the VA’s combat cocktail was killing me. I was a zombie and my symptoms were getting worse, not better. When I learned that Israel and other developed countries successfully use cannabis to treat issues like mine; it became my mission to fight for my Warfighter family to get the same life-saving cannabis that helped me. Together with the USCC, we will win the fight for real PTSD treatment”.
Cutler’s influence has helped several institutions, including his partnership with the venerable American Legion, to adopt a pro-medical marijuana stance.
Cutler suffered traumatic brain injury during Iraqi Freedom combat operations which later developed into Parkinson’s disease. Cutler spent years shuffling in and out of the VA hospital system, where he was given, as he calls it, ‘the combat cocktail’; 27 different mainly opiate and psych-based medications. Recognizing that the overload of pills was ruining his life, Cutler switched to medical cannabis and finally found relief from his symptoms.
“The demonization of cannabis has become a political movement that’s partnered big-money Pharma lobbyists with politicians to keep it all going for decades” said Cutler, “Good people have been duped, bad people have been made rich, and our families have suffered needlessly. Cannabis-based medicine helps when we stop the madness and treat the patient”.
USCC board member Michael Bowen concurred saying, “Boone is the voice for the millions of veterans pleading to replace the VA’s opiate overload with safer marijuana alternatives. Our work together in ending pot prohibition will save millions of lives”.
“As a combat veteran, Boone Cutler has done more to defend the Constitution than most people can ever imagine” said Bowen “In light of the Gardener-Warren STATES Act, Boone’s voice and experience are particularly relevant to USCC’s crusade for state’s rights on cannabis”.
###
The United States Cannabis Coalition is a bi-partisan, pro-cannabis non-profit project dedicated to persuading federal decision makers — including the president – to support the states’ rights when it comes to marijuana laws. Co-founded by long time Trump advisor Roger Stone and famed trial attorney and Democratic activist John Morgan, the USCC is a project of the United States Freedom Coalition and notable members include Fox News commentator Judge Andrew Napolitano, HBO’s Bill Maher, Former Congressman and National Co-Chair Republican National Committee Thomas B. Evans, Jr, , Former Executive Director American Conservative Union, Christian Josi, CEO of the Coalition for a Strong America, Michael Bowen, Congressman Matt Gaetz of Florida, Curtis Sliwa of the Guardian Angels, Attorney and activist Tyler Nixon, Pastor Mark Burns of South Carolina, Florida State Representative Katie Edwards ( D-Broward), Patrick Moore of the California Hemp Project and Senator Diane Savino (D-New York).

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Florida Sidesteps Medicinal Marijuana Progression

MARIJUANA POLITICS – The News Source For an Informed Citizenry Post by Marijuana Politics

By Annie Loupy

If you are a medical marijuana patient in Florida, you are familiar with the long and complicated history of cannabis legalization. The law is vague and restrictive causing backups, delays and inconvenient challenges.

In 2016, Florida voters flooded the polls to allow legal medicinal use of marijuana. With one step in the right direction, the government shot back with regulations like making the act of smoking cannabis illegal and only offering medicinal marijuana relief to patients with “debilitating conditions.” Thankfully, due to John Morgan’s successful advocacy, smoking herb is now legal. This marks one more victory for one of the largest potential markets in America, though patients are far from liberation of government restriction.

Recently, the topic of debate raised by 77-year-old patient Joe Redner diagnosed with stage 4 lung cancer advocates for the right to grow his own marijuana. According to his doctor’s recommendation, Redner needs immediate access to a generous amount of his herbal prescription which would be more convenient if accessed from his backyard. Redner, a strip club owner, can afford his own weed but he knows many patients that are unable to fork over the unbelievably high prices of $9.27 per gram.

The Verdict
On the 11th of April,, judge Gievers ruled in Redner’s favor. And for a few weeks, Redner had the right to grow his own weed until the Health Department fired back with an appeal, putting Redner’s recent right on hold. The appeal was held up in court and Redner now seeks to take his case to the Supreme Court. So, what’s the hold up?

It’s no secret that the Florida government is resisting the integration of medicinal marijuana into the culture of the sunny state. With each progressive small step toward legalization, the government has created hurdles almost impossible to tackle. Even with growing knowledge of its medical benefits from the science community and the ever-growing popularity around the nation, Florida seems to have an agenda with cannabis consumption and even how you consume it. The good smoking people of Florida and its advocates like Morgan and Redner are making strides in their fight to legalization but it hasn’t been easy.

The ambiguity of the law surrounding medical marijuana makes it easy for the government to slow progression down. The reason Redner was stripped of his right to grow is because Florida law does not allow the legal sale of seeds or plants. Redner’s lawyer, Luke Lirot, argued that Redner was immune to criminal penalty because the law states that legal cannabis is defined as “all parts of any plant of the genus of cannabis” which includes seeds and resin or any compound or preparation of the plant. Judge Gievers saw it Lirot’s way, however, the law has one more loophole: access. How is someone legally allowed to grow without legal access to seeds?

Challenges Persist
The Florida government now has patients in a predicament agreeing with yes, you can legally grow marijuana, but no, you cannot legally buy seeds or plants. With Redner’s life depending on this ruling, he and Lirot await a Supreme Court hearing to plead their case. Amidst the war of growing an herbal plant lawfully, the state of Florida persists to create complications which makes issuing licenses for potential facilities to be put on hold.

A convoluted point system has been appointed in order to award the best applicants a license. Higher points are awarded to old citrus facilities. But it’s never that easy. Even if the best applicants prevail through this process, the proposed rules on providing licenses are vague making it easier for delayed decisions and unknown requirements held by the administration. Without a tightly sealed application process, the committee has more room to question an application or find complaints that will further delay progression.

Optimistic Future
Even if there are no hiccups, Florida won’t see its first accepted applicant until the end of July – but that’s an optimistic prediction. With each step forward, the state of Florida pushes two steps sideways and somewhat derails the project towards natural treatment and relief to its more than 100,000 patients. At least it isn’t going backwards during this fight. And with Morgan’s recent win, Florida medical patients have hope for continuous progress moving forward and await Redner’s case to seek approval from the Supreme Court.

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