Credit Union Wins Small Victory In Fight Against Federal Marijuana Prohibition
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Marijuana was legalized in the state of Colorado, nullifying the federal prohibitive rules regarding the substance, in 2012. But as the pot industry grew tremendously over a short period of time in the state, the feds found yet another way to restrict marijuana entrepreneurs.
Since marijuana is still an illicit drug according to federal law, the banking industry found itself unable to provide services to marijuana businessmen and women. As a result, many entrepreneurs found it hard to have access to loans or even bank accounts to better manage their business.
Recently, a marijuana credit union was able to win a small but significant victory in the fight against the federal government’s control over drug policy.
Fourth Corner Credit Union had been barred from having access to certain services due to its willingness to do business with marijuana-related businesses. As a result, the institution was not allowed to open a Federal Reserve master account so it could provide banking services to customers. Now, the 10th U.S. Circuit Court of Appeals has annulled this decision.
Thanks to this move, the institution is now free to re-apply for the account. And, if denied once again, Fourth Corner may take the case to court once more.
While this isn’t necessarily a victory in the sense that it allows banking institutions to provide services to whomever they wish, it’s the first step in a long process to ensure that Colorado’s marijuana laws aren’t undermined by the federal government’s insistence in upholding laws that effectively impact Americans’ right to self-ownership.
As it stands, Colorado’s pot industry has functioned mostly on cash transactions. This causes problems for both consumers and entrepreneurs as many of these companies may feel that saving and managing their money is more difficult without having access to a banking account.
But Colorado isn’t the only state running into major banking problems thanks to the federal government. Business in Washington and Oregon are also facing problems as feds are the ones that regulate the banking industry.
Perhaps, if freedom and true liberty advocates are willing to take up the fight, the next step anti-drug war advocates should take is to embark on a new nullification effort that might help to decentralize banking in the United States. By default, if this effort is eventually successful, states could continue passing their own drug-related pieces of legislation, allowing entrepreneurs to have access to a world of banking options not available to them until then. Of course, any such fight wouldn’t be easy. But decentralization is key in promoting liberty.
As more states become freer than others on diverse fronts, Americans see incentives in moving. This is how “voting with our feet” happens.
“I am proposing that this plant [marijuana] be regulated like tomatoes, jalapenos or coffee. Current marijuana policies are not based on science or sound evidence, but rather misinformation and fear. All that God created is good, including marijuana. God did not make a mistake when he made marijuana that the government needs to fix. Let’s allow the plant to be utilized for good — helping people with seizures, treating warriors with PTSD, producing fiber and other products — or simply for beauty and enjoyment. Government prohibition should be for violent actions that harm your neighbor — not of the possession, cultivation, and responsible use of plants.” — Texas Republican state representative David Simpson, who describes himself as a “constitutional conservative,” explaining his marijuana re-legalization bill, KETK NBC TV, Tyler, Texas.
“Our American ancestors lived in the most unusual society in history — no income tax and no IRS, few economic regulations, no big standing army, no torture, no state-sponsored assassinations, no CIA, no NSA, no Federal Reserve, no paper money, no legal-tender laws, no wars of aggression (except against Mexico and native Americans), no drug laws, no gun control, no surveillance schemes, no foreign aid, and no immigration controls. That’s what it once meant to be free. That’s what it once meant to be an American.” — 
“I think we’re looking at kind of a 30-year war.” — former Obama Secretary of Defense and CIA director 
KUCINICH VS. OBAMA: “Qatar and Saudi Arabia can now overtly join with the U.S. in striking Syria, after they have been covertly attempting for years to take down the last secular state in the region. We are now advancing the agenda of the actual Islamic States — Saudi Arabia and Qatar — to fight the ersatz Islamic State of ISIS. …What does this have to do with the security of the 50 States United? Nothing!” — 
“The U.S. government has been intervening in the Middle East for more than half a century under the pretext of achieving peace. But things just keep getting worse. We must stop stoking conflicts that tear countries apart, stop dropping bombs, and stay out of the region. Democratic and Republican politicians have meddled so extensively in the Middle East that they’re now in the ludicrous position of siding with very recent U.S. enemies: Iran, Assad, and al-Qaeda, all of whom oppose the Islamic State.” — 
“Political reporters are complaining that the White House has been asking them to edit some of their stories to make the president look better. The White House said that’s not true, and those reporters should please change what they said.” — Jimmy Fallon, Sept. 25, 2014.
