The booming money laundering business due to legalized marijuana

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ch33zw1z

Lifer
Nov 4, 2004
37,733
18,003
146

Here's the part making that claim: "Mexico cultivates more than 20,000 acres of marijuana every year and produces an estimated 7400 tons of pot; easily making it one of the leading producers in the world. Most of this finds it’s way into the United States, and Mexican weed makes up an estimated 40 percent of what we consume here in America. If you live along the border, there is a pretty good chance that what you’re smoking comes from Mexico. "

Of course, the article goes on to say that estimates are unreliable: "Obviously all these numbers are loose estimates, usually extrapolated from surveys and law enforcement data (drug arrests and seizures). Marijuana remains a black market crop. It’s production and transportation are undocumented, and it is impossible to know with any degree of accuracy which countries produce how much, and where it goes. And a recent study by Beau Kilmer and the RAND Drug Policy Center has shown that much of the available information about drug trafficking is inflated and unreliable."

Fact is, if your state is legalized recreationaly, you're likely not forced to buy garbage from Mexico. Same goes for medical patients. Buying local also has the nice effect of reducing money flowing to cartels in Mexico or other countries. As people have been saying for decades, keep it local, support another industry in our country, tax it, regulate it to ensure high quality and purity, the benefits of this are clear.
 

blackangst1

Lifer
Feb 23, 2005
22,914
2,359
126
Here's the part making that claim: "Mexico cultivates more than 20,000 acres of marijuana every year and produces an estimated 7400 tons of pot; easily making it one of the leading producers in the world. Most of this finds it’s way into the United States, and Mexican weed makes up an estimated 40 percent of what we consume here in America. If you live along the border, there is a pretty good chance that what you’re smoking comes from Mexico. "

Of course, the article goes on to say that estimates are unreliable: "Obviously all these numbers are loose estimates, usually extrapolated from surveys and law enforcement data (drug arrests and seizures). Marijuana remains a black market crop. It’s production and transportation are undocumented, and it is impossible to know with any degree of accuracy which countries produce how much, and where it goes. And a recent study by Beau Kilmer and the RAND Drug Policy Center has shown that much of the available information about drug trafficking is inflated and unreliable."

Fact is, if your state is legalized recreationaly, you're likely not forced to buy garbage from Mexico. Same goes for medical patients. Buying local also has the nice effect of reducing money flowing to cartels in Mexico or other countries. As people have been saying for decades, keep it local, support another industry in our country, tax it, regulate it to ensure high quality and purity, the benefits of this are clear.
I get all that. But back to the op.... Who is doing the laundering? Weed is a big cash crop. You local Joe store owner can't launder that much cash.
 

ch33zw1z

Lifer
Nov 4, 2004
37,733
18,003
146
I get all that. But back to the op.... Who is doing the laundering? Weed is a big cash crop. You local Joe store owner can't launder that much cash.

Select financial organizations who choose to take the risk. aka, not the "too big to fail" ones.

Not entirely sure why you posted the link now, it seemed like you were trying to prove people in the U.S. consume Mexican MJ? Well, with every state that legalizes either / both MMJ or Rec, less and less
 

hal2kilo

Lifer
Feb 24, 2009
23,326
10,230
136
Select financial organizations who choose to take the risk. aka, not the "too big to fail" ones.

Not entirely sure why you posted the link now, it seemed like you were trying to prove people in the U.S. consume Mexican MJ? Well, with every state that legalizes either / both MMJ or Rec, less and less
Only thing Mexican at my end of the country is tar and meth.
 

Vic

Elite Member
Jun 12, 2001
50,415
14,303
136
I get all that. But back to the op.... Who is doing the laundering? Weed is a big cash crop. You local Joe store owner can't launder that much cash.
You obviously don't get all that. This isn't about the cartels laundering money, that's propaganda. When you have hundreds and hundreds of legal local dispensary owners and legal growers who are being preventing from using the banking system due to outdated federal banking laws, then yes, they can launder that much cash, because they have no other choice. Legal marijuana is a $10 billion/year industry. This is about a legal $10 billion/year industry being forced to operate all-cash because they aren't allowed to use the banks. Get it now?

And the legislation that would change all this, the SAFE Banking Act, which would allow these legal businesses to use the banks, passed the House by a 321-103 vote back in September with large bipartisan support and with backing from the banking industry. And all that's blocking it right now are the Senate Republicans and Trump, and their useful idiots spreading FUD about the cartels.
 
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Blackjack200

Lifer
May 28, 2007
15,995
1,685
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You obviously don't get all that. This isn't about the cartels laundering money, that's propaganda. When you have hundreds and hundreds of legal local dispensary owners and legal growers who are being preventing from using the banking system due to outdated federal banking laws, then yes, they can launder that much cash, because they have no other choice. Legal marijuana is a $10 billion/year industry. This is about a legal $10 billion/year industry being forced to operate all-cash because they aren't allowed to use the banks. Get it now?

And the legislation that would change all this, the SAFE Banking Act, which would allow these legal businesses to use the banks, passed the House by a 321-103 vote back in September with large bipartisan support and with backing from the banking industry. And all that's blocking it right now are the Senate Republicans and Trump, and their useful idiots spreading FUD about the cartels.

The laws are not outdated. They are a recent and deliberate measure to police people's behavior though the financial system.
 

Vic

Elite Member
Jun 12, 2001
50,415
14,303
136
The laws are not outdated. They are a recent and deliberate measure to police people's behavior though the financial system.
Fair enough. By outdated, I meant that the law had not been adapted to marijuana legalization.

Your earlier criticism in this thread was somewhat inaccurate BTW. It is almost entirely govt driving this bus to police people's behavior through the banking system. Given the option, banks would prefer to maintain their customers' privacy, if only because the cost of this govt compliance is burdensome.
 

digiram

Diamond Member
Apr 17, 2004
3,991
172
106
People are now watching Breaking Bad not to see how Walter made the meth, but how he ran the car wash.

After watching Breaking Bad and The Ozarks, every small hole in the wall business I pass, I'm thinking it's likely a laundromat... lol
 

Scarpozzi

Lifer
Jun 13, 2000
26,389
1,777
126
Here's the part making that claim: "Mexico cultivates more than 20,000 acres of marijuana every year and produces an estimated 7400 tons of pot; easily making it one of the leading producers in the world. Most of this finds it’s way into the United States, and Mexican weed makes up an estimated 40 percent of what we consume here in America. If you live along the border, there is a pretty good chance that what you’re smoking comes from Mexico. "

Of course, the article goes on to say that estimates are unreliable: "Obviously all these numbers are loose estimates, usually extrapolated from surveys and law enforcement data (drug arrests and seizures). Marijuana remains a black market crop. It’s production and transportation are undocumented, and it is impossible to know with any degree of accuracy which countries produce how much, and where it goes. And a recent study by Beau Kilmer and the RAND Drug Policy Center has shown that much of the available information about drug trafficking is inflated and unreliable."

Fact is, if your state is legalized recreationaly, you're likely not forced to buy garbage from Mexico. Same goes for medical patients. Buying local also has the nice effect of reducing money flowing to cartels in Mexico or other countries. As people have been saying for decades, keep it local, support another industry in our country, tax it, regulate it to ensure high quality and purity, the benefits of this are clear.
I don't live in one of those states and don't want it legalized. I don't trust that people will be responsible and not smoke or do edibles if they are readily available. I suppose if you legalize it, you should raise the fiscal penalty for DUI to keep people inside. Just my thoughts because uber and lyft aren't big where I live... I would expect 30-50 year old idiots to be the culprits buying the expensive stuff instead of the Mexican stuff.
 

ch33zw1z

Lifer
Nov 4, 2004
37,733
18,003
146
I don't live in one of those states and don't want it legalized. I don't trust that people will be responsible and not smoke or do edibles if they are readily available. I suppose if you legalize it, you should raise the fiscal penalty for DUI to keep people inside. Just my thoughts because uber and lyft aren't big where I live... I would expect 30-50 year old idiots to be the culprits buying the expensive stuff instead of the Mexican stuff.

You're welcome to your opinion, but there's plenty of examples how the legal status of MJ causes more harm than good.
 

ch33zw1z

Lifer
Nov 4, 2004
37,733
18,003
146
Show me. I am not even a pot amoker.

Show you the negatives? Ok, just off the top of my head here:

1. People's lives forever marred by drug laws that penalize you for life.

2. Drug policies that fund cartels.

3. Drug policies that allow for law enforcement to unequally apply consequences.

4. Loss of freedoms. We have drugs that are harmful yet legal already. You live in a free country as long as you don't color outside the lines, even if you are not violent and you responsible

5. Negative free market impact. There's a huge market for MJ. One of the reasons it's illegal is because of the monetary impact in alcohol and tobacco markets.

6. Other markets impact. Because of MJ's illegal status, we are ignoring a product that has many uses, that information has had a concentrated effort against it to keep the public ignorant and instead try and shame those who would dare touch the devil weed.

7. Wasted resources. We wasted billions on enforcement. LEO's want it illegal because it's a great way to pad the numbers with easy arrests. You won't see people stoned fighting with police. But you will see drunk people fighting with police. Ask an officer who'd they rather arrest.

Hope this helps. I used MJ quite a bit in my younger years. By far, the only real danger was getting caught and the wrath of the legal system.

Imxp, MJ users are the ones putting in the work at a daily grind, paying their taxes, and raising families.

Along with legalized MJ, I support real drug education so people know what to expect, for real. In MJ terms, that means understanding the difference between smoking it, dabbing it, eating it, or absorbtion. The negative physical effects if any and how your body will process it.
 
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sdifox

No Lifer
Sep 30, 2005
94,661
14,928
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Show you the negatives? Ok, just off the top of my head here:

1. People's lives forever marred by drug laws that penalize you for life.

2. Drug policies that fund cartels.

3. Drug policies that allow for law enforcement to unequally apply consequences.

4. Loss of freedoms. We have drugs that are harmful yet legal already. You live in a free country as long as you don't color outside the lines, even if you are not violent and you responsible

5. Negative free market impact. There's a huge market for MJ. One of the reasons it's illegal is because of the monetary impact in alcohol and tobacco markets.

6. Other markets impact. Because of MJ's illegal status, we are ignoring a product that has many uses, that information has had a concentrated effort against it to keep the public ignorant and instead try and shame those who would dare touch the devil weed.

7. Wasted resources. We wasted billions on enforcement. LEO's want it illegal because it's a great way to pad the numbers with easy arrests. You won't see people stoned fighting with police. But you will see drunk people fighting with police. Ask an officer who'd they rather arrest.

Hope this helps. I used MJ quite a bit in my younger years. By far, the only real danger was getting caught and the wrath of the legal system.

Imxp, MJ users are the ones putting in the work at a daily grind, paying their taxes, and raising families.

you said legal status, leading me to think you were against legalization.
 

ch33zw1z

Lifer
Nov 4, 2004
37,733
18,003
146
you said legal status, leading me to think you were against legalization.

Sorry if I didn't get my words correctly and caused confusion. I support MJ legalization and moving forward with more modern drug policies, including real education 😉

Scarpozzi was saying he didn't support legalization, correct?
 

sdifox

No Lifer
Sep 30, 2005
94,661
14,928
126
Sorry if I didn't get my words correctly and caused confusion. I support MJ legalization and moving forward with more modern drug policies, including real education 😉

Scarpozzi was saying he didn't support legalization, correct?

yeah he was. I don't get why.
 

ch33zw1z

Lifer
Nov 4, 2004
37,733
18,003
146
yeah he was. I don't get why.

I dunno man. I know older people who still harbor those classic propaganda fueled viewpoints. Younger people I know really dont care if it's legalized. My state legalized a few years ago with 66% of the vote. State took a while to get the ball rolling.

Edit: and again, there's not a proven method of testing for immediate MJ intoxication like Alcohol, that I'm aware of. Somebody linked me out to some kind of breathalyzer for THC, but it was a shoddy website that was clear about how it works. Looked like a gimmick
 
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Scarpozzi

Lifer
Jun 13, 2000
26,389
1,777
126
yeah he was. I don't get why.
Yeah, I'm against it. I have my reasons, but I'm sure things will continue to progress forward. It seems pot and legalized gambling are taking more of a hold on government as they seek ways to pay higher salaries and cover budgets... No need to get into a heated discussion, but let's just say I have kids and know a number of people who wasted their lives sitting around smoking. I'm not blaming mj 100%, but it certainly didn't help them any and I don't want to have to rent "Reefer Madness" and force my kids to watch it.
 

sdifox

No Lifer
Sep 30, 2005
94,661
14,928
126
Yeah, I'm against it. I have my reasons, but I'm sure things will continue to progress forward. It seems pot and legalized gambling are taking more of a hold on government as they seek ways to pay higher salaries and cover budgets... No need to get into a heated discussion, but let's just say I have kids and know a number of people who wasted their lives sitting around smoking. I'm not blaming mj 100%, but it certainly didn't help them any and I don't want to have to rent "Reefer Madness" and force my kids to watch it.

much less harmful than ethanol. And really raising kids is hard, I got three of my own.
 

Scarpozzi

Lifer
Jun 13, 2000
26,389
1,777
126
much less harmful than ethanol. And really raising kids is hard, I got three of my own.
Maybe if you're talking edibles. Call me a wimp, but I run and bike and stuff....I want my kids to be active. My delicate little lungs can't even go to smoky bars anymore, let alone inhale much of anything directly anymore without me paying the price the next day. That's why I want my kids away from it. Lung cancer is real and while THC is cool, breathing any smoke ain't normal.
 

sdifox

No Lifer
Sep 30, 2005
94,661
14,928
126
Maybe if you're talking edibles. Call me a wimp, but I run and bike and stuff....I want my kids to be active. My delicate little lungs can't even go to smoky bars anymore, let alone inhale much of anything directly anymore without me paying the price the next day. That's why I want my kids away from it. Lung cancer is real and while THC is cool, breathing any smoke ain't normal.

Oh it is definitely not healthy. But most of the harm is from smoking, as opposed to THC. But the criminization of marijuana use causes even more harm on the society.
 
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