Why Pressuring The Government Is Good For Cannabis
This episode of Trade to Black, the guys are talking about what the public can do to make their voices heard. Millennial entrepreneur Anthony Varrell, lead financial writer Benjamin A. Smith, and host Shadd Dales discuss how bringing pressure to bear on the government regarding cannabis can bear fruit for both the public and the whole industry.
Despite expectations of swift action on SAFE Banking this year, the Senate is now shut down for the summer. It’s been over 10 years since it was first introduced, and the delays are getting ever more frustrating. Even people in congress are noticing and commenting negatively on it.
This might be why Rep. Matt Gaetz (R-Fla.) and Rep. Steve Cohen (D-Tenn.) decided last week to press the Drug Enforcement Administration about plans to remove cannabis from their list of Schedule 1 drugs. During the House Judiciary hearing that took place on Thursday, the DEA administrator basically stated that the agency has “not been given a specific timeline” to reevaluate it.
We dive deeper into the causes of the government and various delays in dealing with cannabis. Why did Senate not hold the key markup vote, anyway? To that end, we’ll be examining the dilemma posed by Section 10 and its implications on cannabis versus firearms. We’ll also talk about Diane Feinstein’s co-sponsorship of SAFE Banking and Don Murphy.
We will also take a broader look at the history of cannabis in the United States and the War on Drugs. Is our acceptance of cannabis more of a generational position? You may not have expected that there’s a ‘vested interest’ by some members of the government in continuing to vote against it. In a way, it kind of makes sense – and we’ll explain why.
Could part of the problem also be a confusion on classifications between medical and recreational use? There’s a definite attitude towards money that might be playing a part, and how that affects opportunities for cannabis finance is something we’ll discuss.
Wrapping up the podcast: are the psychedelic companies undervalued? Where’s the best place to put in potential investment dollars – crypto, cannabis, or psychedelics? And if you’re hungry for more, we’ll also talk about some biotech valuations.
