Really long, hard to read, but interesting
Scientific American article ...
The results indicate that endocannabinoids are important in extinguishing the bad feelings and pain triggered by reminders of past experiences. The discoveries raise the possibility that abnormally low numbers of cannabinoid receptors or the faulty release of endogenous cannabinoids are involved in post-traumatic stress syndrome, phobias and certain forms of chronic pain. This suggestion fits with the fact that some people smoke marijuana to decrease their anxiety. It is also conceivable, though far from proved, that chemical mimics of these natural substances could allow us to put the past behind us when signals that we have learned to associate with certain dangers no longer have meaning in the real world.