I'm just curious to see what everybody thinks about legal pot. I'm not a fan. I tried it once "back in the day", I wasnt impressed. I did vote for it mostly cause it may generate some tax revenue and maybe decrease the load on the police. But I dont want to constantly smell the stuff everywhere.

One thing I've never seen mentioned, if you own a pot shop what do you do with the money you get from drug sales? There are some very serious federal laws (Money Laundering) that have been around for years that prohibit banks from accepting drug money for deposit and also prohibit banks from facilitating drug sales.

According to these laws if your customer gives you a check you cant deposit it in a bank, same with cash.. you cant deposit that in the bank either. You cant have a card swipe terminal sponsored by a bank, that would be facilitating drug sales. These are "know your customer" laws and the bank cant use ignorance as an excuse.

As a practical matter, bankers are in the community, they will know who has a pot shop and where the $ came from.

Pot is a schedule 1 drug same as heroin, cocaine etc. Federal law takes precedence over any state laws. A bank would be insane to accept drug money. The monetary penalties can run into the millions. UBS was fined 700 million a few months ago for money laundering.

It will be interesting to see what the feds do. I dont see how they can ignore a wholesale violation of federal laws. Previously it was just medical pot, and somewhat limited.