Banking for the Marijuana Industry – Big Banks Don't Bite

We know that in a couple years, the federal government will realize its major misstep in keeping “marijuana’ illegal, since they are missing out on a huge amount of tax revenue.  But it takes the federal government time to exercise common sense (sometimes, an infinite amount of time), and in the meantime, the 200 million people living in States and localities that have ‘legalized’ marijuana (with THC, the psychoactive component) are purchasing products – and the businesses selling those products have nowhere “legal” to put their cash.

So, approximately $3 billion is out of the “system” and can’t be monitored.  Big Brother hates that and is offering a special program where big banks can “legally” accept the money and monitor it for “suspicious” or “criminal” activity.  Big banks aren’t’ biting. I wonder why…

Let’s think about this real quick.   The federal government, who says that marijuana is “illegal” wants people who are selling marijuana to put their money in banks, so the government and big banks can monitor “criminal” activity.  Hmmm, would YOU trust the federal government?  I think that it is astounding that they actually think that people will fall for this, since the feds are always cash and asset hungry, and any person or business who is buying or selling anything with marijuana is STILL technically breaking “federal law”.  Hilarious.

I know that States are trying to help alleviate this issue, especially with the use of credit unions.  There are a lot of solutions, of course, it is just dancing around the guillotine of federal law.  Cash is a great way to maintain your privacy, and we aren’t afraid to say it!

BANKING REFORM – Limited Purpose Banking

We will be continually promoting this concept that was brought to our attention from one of our readers – it is WE THE PEOPLE that will save this country.

Have you heard the term “limited purpose banking”?  It is a very simple, efficient, and honest means of getting our financial system back on the track of preserving YOUR money.  The concept?  All financial institutions change to operate strictly as “pass-through mutual-fund companies”(Bloomberg, 2010), where the investments can lost value, but the funds themselves can never fail.  Details about mutual-fund securities would be disclosed in real-time (giving the market valuable information to be able to make purchasing decisions).  This would also replace 115 federal and state financial regulatory bodies with ONE “Federal Financial Administration” to oversee limited-purpose-banking funds.

Create transparency, eliminate bureaucracy, and let the free-market work.  That is what I call smart and sustainable solutions to our banking industry.  Read more about it HERE.

– Tisha Casida

A Banking System to Create PROSPERITY

– Tisha Casida

In theory, a banking system is supposed to create safety and prosperity for its customers – the people who make deposits and take out loans.

What happened in the past couple years in the United States is unprecedented and unsustainable, not to mention unethical.  Hard-working Americans who trusted in their investments were taken to the cleaners, while those who stole their retirements, livelihoods, and future were the beneficiaries of a government-funded bailout.

Could this have been prevented?  Of course it could have!  Could we do better now?  Of course we can!  Here’s how.

Our financial system “was supposed to channel our hard-earned savings into the best real investments: new homes, offices, factories, equipment and research. And it was supposed to correctly price our assets”(Kotlikoff & Leamer, 2009).  When it collapsed, it was doing neither of these because Wall Street had turned into a gambling machine.

Limited Purpose Banking (LPB) “would transform all financial corporations, including insurance companies and hedge funds, into mutual funds”(2009).  These mutual funds would still be called “banks” and would be regulated by a new “Federal Financial Authority” (FFA) that would replace over 115 state and federal regulatory agencies (yes, that would probably save some taxpayers money, not to mention time, and heartache) and the FFA would “rate, verify, supervise custody, disclose and clear all securities purchased, held and sold by LPB mutual funds. Private rating companies could stay in business, but no one would need to trust them ever again”(2009).

Under such a system, banks would never fail because they would never hold financial assets, they would be limited to their “legitimate” purpose – being a financial intermediary.

The Good American Post will do our best to figure out how our readers and listeners can learn more and get involved, you can read a detailed article about LPB by Laurence J. Kotlikoff and Edward Leamer HERE.

Reference:

Kotlikoff, L.J.,  & Leamer, E. (2009, April 23).  A Banking System We Can Trust. Forbes.com. Retrieved from http://www.forbes.com/2009/04/22/loan-mortgage-mutual-fund-wall-street-opinions-contributors-bank.html.

BANKING REFORM – Limited Purpose Banking

We will be continually promoting this concept that was brought to our attention from one of our readers – it is WE THE PEOPLE that will save this country.

Have you heard the term “limited purpose banking”?  It is a very simple, efficient, and honest means of getting our financial system back on the track of preserving YOUR money.  The concept?  All financial institutions change to operate strictly as “pass-through mutual-fund companies”(Bloomberg, 2010), where the investments can lost value, but the funds themselves can never fail.  Details about mutual-fund securities would be disclosed in real-time (giving the market valuable information to be able to make purchasing decisions).  This would also replace 115 federal and state financial regulatory bodies with ONE “Federal Financial Administration” to oversee limited-purpose-banking funds.

Create transparency, eliminate bureaucracy, and let the free-market work.  That is what I call smart and sustainable solutions to our banking industry.  Read more about it HERE.

– Tisha Casida

CREATIVE DESIGN FROM BROOKLYN

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