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Former U.S. Vice President Joe Biden is at it again.
He’s been talking once more about reigning in cannabis legalization.
Late last year, Biden called marijuana a gateway drug (only to roll back his statements after being criticized for that stance).
Then in a recent interview with the editorial board of The New York Times, he backpedaled. Now he's calling for more research while supporting decriminalization.
Like most other pandering statements from politicians, Biden’s latest are just a distraction.
You can’t put too much weight on Biden's or any other politician's comments – especially in an election year. The next time a politician weighs in to the cannabis debate, keep this in mind: Legalizing cannabis doesn't require a politician's approval.
Citizens can tell politicians what the laws will be through ballot measures. And that's exactly what's happening across the country.
That’s why marijuana legalization strikes me as one of the few genuine, bottom-up, power-to-the-people movements to have occurred in the United States. That's what makes it both inevitable – and so very profitable.
Ultimately, cannabis legalization is proceeding, regardless of what any politician says. None are bold enough to make a strong stand against it. And anything short of all-out war is mere posturing.
And there are massive opportunities to profit by investing in the companies funding the most research into the effects of THC, CBD, and the 100-plus other cannabinoids produced by the marijuana and hemp plants.
About the Author
25-year market veteran who has managed investors' money at firms with assets under management ranging from $250 million up to $16 billion.