Anybody here from Colorado or have any first hand info on how things went on the first day that pot was legalized?

I have a mental image of the pot stores with crowds out front like the typical black Friday scenes of people pushing to be the first to get into their local Walmart.

I saw where some places were selling it for 4x what its worth on the street.

I read some articles that included prices, but many of them did not. One mentioned that the prices were artificially inflated right now to try to mitigate the likelihood of running out of product prematurely. Apparently some of the store owners do not have a reliable pipeline of suppliers and a concern over the size of their inventory. That anxiety seems reasonable since they are stepping into the unknown. Once the infrastructure is in place and the novelty wears off I suspect that the prices will plummet.

I'm not a big pot guy. It has been many years since the last time I smoked any. Culturally, I think this is a big event however. Bigger than even most of the stoners out celebrating realize. Even the most conservative estimates would have to agree that this event represents a sentence or two in the history books in the years to come no matter what you think about pot.

I still wish they would just charge for a Cultivator License, so you could grow for personal use. 10years after pot is legal, there will be more tax on an 1/8th than the cost of the weed. Same as cigarettes and gas.

i heard long lines and high prices but that's to expected opening day. plus there's stoner logic... $25 for an eighth of shit compared to $70 medical grade.

what should be interesting is what happens 2 or 3 years down the road once all the studies start producing results and/or Colorado is making a killing on this new crop. remember...pot is competing against the pharmaceutical industry so much like the global warming sources consider the angle when you read the "results".

and not to be left out is the new hemp market in that state. i'm betting there's some $$ in that.

This won't last.

I smoked some of my aunts shitty weed on new years eve/day and didn't feel a high (or maybe it just mixed with the drunkenness) but I haven't smoked any in over a year so I probably have to build up again before I can get stoned and her shit wasn't so shitty after all.

I have nothing to contribute to this thread.

Colorado and Washington have both legalized for recreational use. Colorado is the state to watch since Washington's plan isn't quite as good and they won't be up and running until June or July.

Colorado allows state residents to buy up to an ounce a day and they can grow 6 plants(3 flowering). Non-residents of Colorado can buy a 1/4 ounce at a time.

Uruguay is the first country to legalize weed for its citizens only. They claim to not want weed tourism but now more South American countries are considering it. Uruguay has some of the U.N. frothing at the bit over this.

Right now Oregon, Rhode Island, Alaska and California seem to be the next states closest to legalizing recreational use.

The legalization of weed is really starting to push the buttons on State rights verses Federal Law.

California needs the tax revenue. I wonder how hard doctors there will fight the recreational use, cause they will lose $$ writing scripts?

Alleged First legal recreational sale

Frito-Lay better start carpet bombing that state with TV ads for Ruffles, Pepsi, Tostitos and every other munchie they sell.

'Rado's gonna have some hungry bitches come this weekend. Burr nigga!

Even though its legal in Colorado, employers can still fire people who test positive. Works the same for medical marijuana patients even though they have a prescription employers will still fire a sick person for using weed.

Wow, sounds like libertarian logic at work.

that's what i'm thinking too. and heres why.

maybe willie has an answer to this.
how do the feds collect taxes on illegal activity?. how do banks lend(fdic) to illegal businesses?.

Technically they don't. Instead they create agencies like the BATF and RICO laws and just seize all the cash they can. Or if you want to go old skool, recall why Al Capone went to Alcatraz (hint: income tax evasion)

The FDIC is a GSE (government sponsored agency) and therefore cannot make laws. Generally banks police themselves when it comes to business finance. If you want to lend money to a Polish corn farmer in Ohio who just happens to rotate his crops with the occasional maryjane and/or poppy seeds, that's your own risk.

But it is true, banks try and keep a good image. Wells Fargo used to (not sure today) have a policy that you could not lend money to one customer to finance the hostile takeover of another customer. They also prohibited lending to porn businesses, which is why City National Bank always shows up in the credits of most smut reels.

$40 for an 1/8 isn't over priced.

Feds collect tax on illegal activity all the time. You just fill out your returns as farmer or a retailer.

You'll need to elucidate on this.

I'm assuming what people are specifically referring to is pot growers in general and legal sellers in Colorado specifically.

In other words, a full time, legal, state licensed pot seller in Denver will be filling out taxes next year for the income made selling pot legally in 2014. State taxes are no big deal. But the federal government still considers it a crime. When the Denver, Colorado pot salesman puts down on his federal taxes the income he made by performing activity the federal government claims is illegal... then what? Is it conveniently ignored by all parties involved?

As far as the other comment... People who make a significant illegal income growing and selling pot in states where it is NOT legal to do so, either further risk the chance of going to jail (just like the example of Al Capone you gave) by not filing taxes, or else they file taxes and lie about their occupation, thereby causing the feds to collect tax on illegal activity all the time.

Hookers, madams, drug dealers, if they are making any real money, they will need to show some income, no? Maybe they don't put every dime they make on the books, but they will pay something so they don't raise too much suspicion when they purchase a new car or a home, etc. They just don't put HOOKER down as an occupation.

I think that is exactly the question. When does the 10th Amendment kick in? And when/if it does, can a hippie lettuce grower take future refuge under the prohibition on ex post facto laws?

thanks willie and e.y. exactly what i was getting at and i don't see how anything really changes until the feds concede.

full disclosure...rogan and his guests have floated all these thoughts for almost a year now and there's no clear answer beyond what the feds did when they raided la's dispensary's and seized everything.

Feds are supposed to announce something on the banking issues real soon. I'm not sure on the federal tax issue.


These sites are good for marijuana news

http://www.theweedblog.com/
http://www.thedailychronic.net/
http://thejointblog.com/

$5million in sales during the first week.

Here is how they are trying to go around the FDIC rules, create their own Pot Investment Fund. http://www.hightimesgrowthfund.com/

Anyone invest in any weed stocks? Me and a friend are kicking ourselves over a company called Medbox that is making vending machines for weed. The stock went from $10-$15 to $91 in just a few days before crashing back to around $50. Fusion Farm or Fusion Pharmacy or something like that is another one. It went from like .20cents to $3.00 in a couple of weeks.

They seem ripe for pump and dumps.

http://www.washingtontimes.com/news/2014...color/?page=all
wait...they can't put their money in a bank but they're publicly traded?. how can that be?.

seems pretty high risk to me.

Medbox doesn't sell weed, just the vending machines. Like Redbox, but for drugz. And they're already a $billion company, but I might have missed out on that one. Who knows about long-term though.

Holder: Feds to set rules for banks and pot money

don't fuck with the bankers....

http://www.change.org/petitions/presiden...e_receipt#share


Petition to change the Scheduling of Marijuana.

$2million in tax collected in the first month.

http://www.startribune.com/lifestyle/homegarden/249342711.html

We're still dithering here. I guess they started giving permits to growers last week. All the eastern Wa. counties and towns are trying to run through 6 month moratoriums on shops. It's a fucking trainwreck.