DEA to Reschedule Aug 1 2016 http://www.smobserved.com/story/2016/06/18/news/us-govt-will-legalize-marijuana-on-august-1/1484.html
The U.S. Drug Enforcement Administration will reclassify marijuana as a "Schedule Two" drug on August 1, 2016, essentially legalizing medicinal cannabis in all 50 states with a doctor's prescription, said a DEA lawyer with knowledge of the matter.
The DEA Lawyer had told the lawyer representing a DEA informant of the DEA's plan to legalize medicinal cannibis nationwide on August 1, 2016. When questioned by our reporter, the DEA lawyer felt compelled to admit the truth to him as well.
"Whatever the law may be in California, Arizona or Utah or any other State, because of Federal preemption this will have the effect of making THC products legal with a prescription, in all 50 states," the DEA attorney told the Observer. Federal Preemption is a legal doctrine that where the US Government regulates a particular field, State and local laws are overridden and of no effect.
He explained that "there are five DEA schedules. Nothing on Schedule One is ever legal, and that is where Cannabis is today. Schedule Two drugs are available with a prescription."
On Schedule Two, marijuana will join drugs like Percocet, Xanax, Oxycontin, Abilify and other drugs that are legal, even common, with a prescription. There are also other drugs that are not on any schedules but that are illegal on a federal level, he said. Drugs like aspirin and ibuprofen are available over-the-counter.
He opined that the 135 medicinal cannabis clinic owners in Los Angeles will no doubt oppose this move by the Federal government, because the rule change will eliminate any reason for people to visit medical marijuana clinics. "In my opinion, CVS pharmacy, Rite-Aid and Walgreens will sell Schedule Two THC products similar to what users call "edibles," but will not sell smokable weed because of the health risk smoking anything entails," said the DEA lawyer.
The Los Angeles based DEA Attorney who spoke to us, asked to remain anonymous because he was not authorized to speak to the press about the matter. He speculated that this action will be taken in the closing days of the 2016 U.S. Presidential election, so as to motivate the Democratic base to turn out and vote for Hillary Clinton, and other down ballot candidates. She will certainly not reverse this policy decision taken in the waning days of the Barack Obama administration, he said. But Donald Trump might.
"Marijuana enforcement is a big drain on DEA resources," he said was another reason for the change, noting that a majority of the American public favor the legalization of marijuana for medical use.
Libertarian candidate Gary Johnson is in favor of legalizing marijuana and in fact owns a business which pedals pot in New Mexico.
California will vote on November 7th, 2016, whether to legalize the recreational use of marijuana. Because of Federal preemption, the DEA's reclassification of cannabis as a Schedule Two drug, will have the legal effect of requiring a prescription in California--i.e., it will continue the status quo.
Since the Golden State legalized medical marijuana almost 20 years ago, Federal authorities have occasionally raided medical marijuana clinics here. They have forced major banks, like Bank of America, to close clinic bank accounts. The Feds have even seized real estate belonging to landlords who rent space to pot clinics. The Federal war on medicinal marijuana will abruptly end on August 1, 2016.
8/01 is the new 4/20!
Medical cannabis, or medical marijuana, can refer to the use of cannabis and its cannabinoids to treat disease or improve symptoms; However, there is no single agreed upon definition, says Wikipedia. The use of cannabis as a medicine has not been rigorously scientifically tested, often due to production restrictions and other governmental regulations. There is limited evidence suggesting cannabis can be used to reduce nausea and vomiting during chemotherapy, to improve appetite in people with HIV/AIDS, and to treat chronic pain and muscle spasms. Its use for other medical applications, however, is insufficient for conclusions about safety or efficacy.
In California, there are "weed doctors" who will write a prescription for cannabis to anyone claiming to suffer from anxiety, which means they passout prescriptions for pot like chocolate bars at a Halloween party. As with so many other trends that started in California, expect to see medicinal marijuana sold in your town soon!
Medical cannabis can be administered using a variety of methods, including liquid tinctures, vaporizing or smoking dried buds, eating cannabis edibles, taking capsules, using lozenges, dermal patches or oral/dermal sprays. Synthetic cannabinoids are available as prescription drugs in some countries; examples include: dronabinol and nabilone.
Recreational use of cannabis is illegal in most parts of the world, but the medical use of cannabis is legal in certain countries, including Austria, Australia, Canada, Czech Republic, Finland, Germany, Israel, Italy, the Netherlands (where it is also legal recreationally), Portugal and Spain.
In the United States, federal law outlaws all cannabis use, while 25 states and the District of Columbia no longer prosecute individuals for the possession or sale of medical marijuana, as long as the individuals are in compliance with the state's medical marijuana sale regulations.
The DEA lawyer gave us his legal opinion that if you happen to live where recreational marijuana is now legal, i.e. Colorado or Washington State; after August 1, you will need a prescription, as you would need throughout the U.S.
However, an appeals court ruled in January 2014 that a 2007 Ninth Circuit ruling remains binding in relation to the ongoing illegality, in federal legislative terms, of Californian cannabis dispensaries, reaffirming the impact of the federal Controlled Substances Act.
The Federal Government will make Marijuana a Schedule Two drug on August 1, 2016, effectively legalizing weed throughout the US. You may be able to buy pot at Rite Aid in Santa Monica by the end of the year.
As explained above, moving marijuana from Schedule One to Schedule Two, would have the effect of legalizing medicinal marijuana, throughout all 50 States, the District of Columbia and U.S. territories. This action may be taken by the DEA unilaterally--i.e., without specific Congressional authorization -- because Congress has previously granted the DEA rule-making authority over what drugs are on which schedules.
The Drug Enforcement Administration (DEA) is a United States federal law enforcement agency under the U.S. Department of Justice, tasked with combating drug smuggling and use within the United States. Not only is the DEA the lead agency for domestic enforcement of the Controlled Substances Act, sharing concurrent jurisdiction with the Federal Bureau of Investigation (FBI) and Immigration and Customs Enforcement (ICE), it also has sole responsibility for coordinating and pursuing U.S. drug investigations abroad.
Shares of Terra Tech Corp (OTCMKTS:TRTC) continue on their bull run for 2016. We’ve been telling Insider Financial subscribers since January that TRTC was one of the best pot stocks to own. We said last month that “What we are seeing with TRTC is not only short covering, but also new buyers coming into the stock as the company continues to get new press. This is indeed Green Rush 2.0 and TRTC looks poised to continue making new highs.”
Helping to drive shares higher was the company’s latest earnings report, which showed substantial revenue growth. Total revenues generated for the quarter ended December 31, 2015 were approximately $2.17 million, an increase of 44% from $1.5 million in the same period in 2014; total revenues for the full year 2015 were $9.98 million, an increase of 40.6% from $7.09 million in the year ended December 31, 2014.
Revenue guidance for 2016 calls for $20 million to $22 million. Driving this growth is TRTC’s recently completed acquisition of Black Oak Gallery, DBA: Blüm Oakland, an established, retail medical cannabis dispensary in Oakland, CA. Blüm Oakland, which holds over 42,000 registered patients, has been operating since November 2012 and services close to 1,000 patients each day. The acquisition includes Blüm’s fully integrated supply chain, which consists of a sophisticated onsite cultivation facility and its portfolio of proprietary strains, as well as its high-volume retail storefront. Trailing 12-month non-GAAP revenue for Blüm Oakland is over $14 million, which tracks the revenue reported by Blüm Oakland in its associated sales tax and cannabis tax reporting and payments. When this deal was first announced back in January, we said that it was indeed a game changer for TRTC.
TRTC will now apply the expertise of Blum towards the company’s expansion into Nevada. Terra Tech’s first Nevada-based medical cannabis dispensary, located at 1921 Western Avenue in Las Vegas, has had its final business license approved by the Las Vegas City Council.