Replies to post #87351 on Medical Marijuana Inc (MJNA)

[Nebula1]

I don't disagree, which is why I think the Fed will retain that power if it gets out of control. I don't think they will ever completely back down until legislation is passed and they are forced to do so. But that is the Fed.

I think they will ease up on medical but continue to be tough on the recreational side.

An approach of allowing folks to operate under State law similar to Ogden would satisfy me in the short term since legislative momentum is on the side of the good guys. Obviously I'd love to hear a comprehensive and clear answer, but I just don't anticipate that.

Clearly Colorado and Washington will be representing the nation as they build their models. Once the tax cash starts pouring in.. it's game over.

Disclosure: I am long MJNA

[farley24]

Well it has already been settled-In Gonzales v. Raich the court stated that Congress can regulate marijuana through its power under the commerce clause. Therefore any law that congress makes, or has already made regulating the production, sale, and consumption of Marijuana trumps any state law under the supremacy clause of the Constitution. Congress does not need to pass any further legislation in regards to the illegality of the state laws.

What we want is Eric Holder (really the President) to make a commitment to not enforce the laws Congress has passed. When this happens it is likely that Congress will follow by changing the law.