With these key players in the Trump administration putting their support behind cannabis reform measures, we could be closer to legalization – and massive profits – than anyone imagined.
The United States will legalize cannabis.
With all the competing legalization efforts out there, I want to make sure you understand that clearly. One way or another, marijuana will become legal.
Knowing how and when is the ultimate goal. The ability to position yourself ahead of a catalyst like the federal legalization of marijuana could open the door to a retirement fortune unlike anything we’ve ever seen before.
We’ve talked about a few different ways legalization could happen, from various bills all the way through an executive order.
And now another effort has been thrown into the mix.
Just last week, Senator Cory Booker (D-NJ) introduced his Marijuana Justice Act, which would both end federal prohibition and repair the damage that prohibition’s harsh sentencing guidelines caused.
While the bill would undoubtedly accomplish a lot of good, it has yet to garner any Republican support.
And the support of two high-ranking Trump administration officials could be the straw to break the camel’s back…
When a “Significant Issue” Meets an “Untenable System”
Last week, while testifying before the House Committee on Financial Services, Treasury Secretary Steven Mnuchin pledged to thoroughly review and consider the Secure and Fair Enforcement (SAFE) Banking Act.
This bill, the first piece of federal cannabis reform legislation ever to reach the House floor, would open the doors of banks to cannabis businesses. Most banks currently won’t deal with these businesses, fearing that by taking money from a federally illegal business, they will be accused of money laundering.
Mnuchin called this a “significant issue,” and when asked to review and consider endorsing the SAFE Banking Act within two weeks, he said he’d be “happy to review it and my staff will follow up.”
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Floor action is expected within the next few weeks, and the bill looks increasingly likely to move on to the Senate.
Even as the Treasury considers that historic piece of legislation, the Justice Department is already looking into the Strengthening the Tenth Amendment Through Entrusting States (STATES) Act.
Attorney General William Barr believes the current system, in which cannabis is legal in many states despite federal prohibition, is akin to a “backdoor nullification of federal law.”
Barr, who even admits his preference for blanket prohibition, says “the current situation is untenable,” and that he would “much rather… the approach taken by the STATES Act than where we currently are.”
Going All In
When will cannabis be legalized in the U.S.? No one can say for sure.
But things are moving fast. Politicians from both sides of the aisle – from former House Speaker John Boehner to former Vermont Governor Howard Dean – have reversed their anti-cannabis leanings and are “going all in.”
And as these two bills continue to gain momentum and hurdle through the legislative process, I want to make sure you have all the tools necessary to position yourself for the biggest gains when U.S. legalization becomes a reality.
Before I Go…
The cannabis market has been under pressure for a couple of weeks, and it took a beating yesterday. The catalyst this time at least seems to have something to do with cannabis, unlike the decline in November and December of last year.
Specifically, some of the large Canadian producers are announcing lackluster results. The latest was Aphria (NYSE: APHA), which had disappointing cannabis revenues during its quarter ended February 28, 2019. Aphria attributed the company’s shortfall to supply shortages and packaging and distribution difficulties.
The market is right to be concerned about Aphria’s results – cannabis revenue should not be falling in Canada, despite the difficulties that country has had with adult-use cannabis since it became legal in October of last year.
But the longer-term picture is still bright for Aphria. It’s even brighter for other Canadian suppliers, and it’s amazing for American producers, which are not at all affected by the troubles facing the larger Canadian suppliers.
And that means that this decline is a good entry point for those of you who have not yet purchased cannabis stocks or who have been waiting to increase your positions in these stocks. I always prefer buying in down markets to buying when everyone else is rushing to get in.
In particular, the American stocks in the Cannabis Investor’s Report model portfolio are outstanding values right now, and we were even able to complete a position at a “discount” yesterday thanks to the recent volatility.
Over the next few weeks, we’re going to continue sharing the best tips and strategies for not only navigating these downturns, but using them to our greatest advantage to make a handsome profit.
Executive Director, National Institute for Cannabis Investors
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3 responses to “High-Ranking Trump Officials Show Cannabis Support”
April 16 2019