Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The international treaty imposed on the world by the USA. Its only purpose was to harm hippies and poc. The world knows what happened and has moved on. If the US wants to be left in the last century they will be reaping what they sowed. I do not care whether they legalize or not. Canada is going well, Europe is opening up. Old fashioned policies deserve to lose out. Watching closely to see where my next move is.
Republican Senators Say Cannabis Rescheduling Violates International Treaties
Three Republican senators are calling on the DEA to reject a Biden administration proposal to reschedule marijuana under federal drug laws.
I wouldn't bet your money on this
Senator Mitt Romney of Utah and two of his Republican colleagues have sent a letter to the Drug Enforcement Administration, urging the law enforcement agency to decline a bid to reschedule marijuana under federal drug laws. Cannabis is currently listed under Schedule I of the federal Controlled Substances Act (CSA), a designation reserved for drugs with no accepted medical value and a high potential for abuse.
The letter, which was signed by Romney and Republican Senator Jim Risch of Idaho and Nebraska’s Senator Pete Ricketts, was addressed to Drug Enforcement Administrator Anne Milgram. All three lawmakers are members of the Senate Foreign Relations Committee. In the letter, the senators expressed concerns over a Biden administration proposal to reclassify cannabis under the CSA.
In August 2023, the Department of Health and Human Services (HHS) recommended that the DEA reclassify marijuana by moving it from Schedule I of the CSA to Schedule III, a classification intended for “drugs with a moderate to low potential for physical and psychological dependence” such as Tylenol with codeine or ketamine. The trio of Republican senators urged the DEA administer to carefully consider the HHS proposal.
“Any effort to reschedule marijuana must be based on proven facts and scientific evidence — not the favored policy of a particular administration — and account for our treaty obligations,” the senators wrote in their letter.
The senators noted in their letter that cannabis is controlled by international treaty, “which is not surprising given its known dangers and health risks — and the United Nations International Narcotics Control Board (INCB) has fiercely criticized efforts to legalize marijuana in other countries as a violation of the treaty.”
International policy on marijuana is governed by the Single Convention on Narcotic Drugs, an international treaty adopted in 1961 and ratified by the U.S. Senate in 1967. Under the treaty, the United States is required to implement certain controls over drugs covered by the international agreement, including marijuana. The CSA implements those treaty obligations in U.S. domestic law and requires the U.S. Attorney General to place marijuana in the schedule that he or she deems most appropriate to carry out the country’s obligations under the Single Convention.
“In prior rescheduling proceedings, the DEA has determined that section 811(d) requires it to classify marijuana as a schedule I or II drug in order to comply with our treaty obligations under the Single Convention,” the letter continued, referring to the relevant section of the international treaty.
“It is important that the DEA continues to follow the law and abide by our treaty commitments,” the senators wrote.
The senators also requested more information including whether rescheduling marijuana would affect whether other countries comply with drug treaty provisions “including for deadly narcotics like fentanyl,” asking the agency to respond to a list of questions by April 12.
The letter also cites a recent study that showed that daily marijuana use was associated with a 25% increase in the risk of a heart attack and a 42% increase in the risk of stroke. They also noted that other research has linked cannabis use “with serious psychotic consequences, including schizophrenia and bipolar disorder.”
On Wednesday morning, Romney took to social media to share the letter he and his Republican colleagues sent to Biden administration officials at the DEA.
“To be blunt: rescheduling marijuana may cause the U.S. to violate obligations under the Single Convention on Narcotic Drugs,” Romney wrote on X, the social media platform formerly known as Twitter. “Efforts to reschedule marijuana must be based on evidence, not politics, and @DEAhq must ensure we abide by our treaty commitments.”
Despite the senators’ fears, Jason Adelstone, a senior associate attorney with national cannabis law firm Vicente LLP, said that international treaties do not preclude the federal government from reclassifying cannabis under Schedule III of the CSA.
“The erroneous and unsubstantiated fears about marijuana are based on fictional ‘war on drugs’ themes and not the current state of medical and scientific knowledge about marijuana,” he wrote in an email to High Times. “The letter contained several incorrect statements, including the mistaken assumption that moving marijuana to Schedule III would somehow violate the Single Convention.”
“However, the Single Convention specifically endorses ensuring medical and scientific access to controlled substances,” Adelstone continued. “Moving marijuana to Schedule III would better promote medical and scientific access to marijuana.”
The DEA is currently reviewing the HHS proposal to reschedule marijuana, but the agency has not announced a timeline for the decision.
https://hightimes.com/news/republican-senators-say-cannabis-rescheduling-violates-international-treaties/
YESTERDAY you said, '' DEA could announce something before Monday '' ; TODAY you say ''DEA will Never Reschedule MJ '' .
Most people Would say Yes , or No ......But YOU say '' it's Both .
makes sense .
Wonder how low this goes. DEA will never reschedule MJ. It will take congress or an illegal unconstitutional executive order which all executive orders are. But it was fun while Kamila was lying. Like I said they will pump this again in a few weeks the closer we start getting to the election. The lies of legalization will start flowing at a rapid pace.
smart people , like you , make money .... idiots buy and pay the price ..
Canadian cannabis insolvencies persist in 2023 amid industry woes
I will say again There is no money too be made in commercial weed, and what money that does trickle in, goes directly into the wallets of stockmarket millionaire weed executives.
We couldn’t make a go of it’
The CCAA allows insolvent Canadian companies to apply for a court order to keep creditors at bay while the company restructures its debts or seeks a buyer or new financing.
In the cannabis sector, a number of CCAA cases have featured a debtor-in-possession loan from a would-be buyer, who puts in a stalking-horse bid to buy the insolvent company or some of its assets.
Notable Canadian cannabis CCAA filings in 2023 included:
Major retail chain Fire & Flower Holdings, which was acquired through insolvency proceedings by privately held retailer Fika Cannabis.
Producer Aleafia Health, which is in the process of being purchased by U.S. multistate cannabis company Red White & Bloom Brands.
Phoena Group, risen from the ashes of predecessor company CannTrust, which faced a major scandal involving growing plants in unlicensed areas of its facility.
Other CCAA filings involving marijuana companies and cannabis-related entities this past year included:
Chalice Brands, a Canadian company with cannabis assets in Oregon.
Investment company Plant-Based Investment Corp., previously known as Cannabis Growth Opportunity Corp.
Capcium, which created softgel capsules for the cannabis industry and other sectors.
Beverage company BioSteel Sports Nutrition, owned by cannabis company Canopy Growth Corp.
https://mjbizdaily.com/canadian-cannabis-insolvencies-persist-in-2023/
Also rode my lack and banked my full bag yesterday 3 minutes before close. Now watching, just watching..
Folks have come here too late. It was all crickets for a whole week ago.
I sold at 7 am. This is all going to fank hard on Monday if not today. Maybe one more quick run up in my opinion. But without DEA announcing rescheduling this is toast I think. But it was fun while it lasted. They will run it one more time before the election I'm sure.
what do we see ? ... typical manipulations , lucky guys should sell now , this run does not last for ever ..
So when do shorts have to cover? This has been positive every day but one recently.
It's only run up 400% since those predictions were made. It's a new political environment all of a sudden.
Canopy Growth Corp's average recommendation is "Moderate Sell" based on 10.00 analysts according to Zacks. Currently, there are 1 buy ratings, 5 sell ratings and 4 hold ratings for the stock.
If MJ stocks tank on Monday as a sell the news event due to Germany Legalizing then I would say it's over for Biden. It's possible they just pumped these MJ stocks knowing it's the last time they will ever be able to do that. But it's also possible DEA says something positive before Monday. MJ is the Dems only possible hope at this point in my opinion.
IT WENT AS HIGH AS 232% VERY EARLY IN MORNING***BTW 4AM AND 630AM I BELIEVE*****SO I THOUGHT NOW DUMPING SO TOTALLY IGNORED IT. AAAAND WAS TOO LATE BUT SCORED SMALL POTATO WITH "IBIO' TO BREAK THE ICE
LISTEN VERY WELL TO THIS SHORT CLIP*******'THEY DO NOT USE PR OR NEWS TO TRADE**** ALL DONE BY COMPUTERS
was thinkin the same.....did fundamentals here change ? I thought CGC was all but sunk ?
was thinkin the same.....did fundamentals here change ? I thought CGC was all but sunk ?
CGC: Primarily UP, UP, UP, for two weeks now.
some people are going to cry very soon ..
Very strange that the cannabis boards are all silent today. Running like crazy. Just goes to show the herd is clueless
Crickets here, but CGC is rumbling!! $10 coming!!
CGC been creating higher HIGHS....so many profit opportunities in this uptrend. We probably see 10 or 9.90ss before the next big drop.
We might see 9ss today!!
Roller coaster but it won't break a ove 8 hardly. Keeps hitting it and then a sell off
Strong trading today. If it closes above $7, there might be a short squeeze in the coming days....Might run up to the TEENS!!
I guess what goes up… sometimes still goes up higher
If this can cross $8 it could easily go to $15. Short squeeze possible also. Several catalysts coming. Germany legalization. DEA rescheduling announcement
" what goes up without a reason , must go down , and it will happen sooner than some people think ...... do you know what to do now ? "
==========================================================================================================
we see today what I said a few days ago ..
did you or nurse cherry even touch this?
Touched $9.48 pre-market on U.S side with tons of volume. There is a whole new group of investors coming in today with many investors adding to their positions before the bigger gains come in.
Over $9 this morning
$CGC Total Debt (mrq) $693.27M
$WEED
what goes up without a reason , must go down , and it will happen sooner than some people think ...... do you know what to do now ?
Canada’s unpaid cannabis taxes soar 72% to almost CA$300 million
How can someone that is betting their savings on a Company that cant even pay their Bills???
A growing number of Canadian cannabis producers continue to rack up tax debt, which could lead to “a meaningful number” of companies going out of business if they’re unable to make those payments, according to the latest tax data and industry analysts.
Federally licensed cannabis producers owed the Canada Revenue Agency (CRA) 273.4 million Canadian dollars ($202 million) as of Dec. 29, 2023, marking a 72% increase compared to the figure from about one year earlier, MJBizDaily has learned.
The number of delinquent companies has grown sharply in recent years.
Roughly 259 licensees were behind on their tax commitments as of Dec. 29, the CRA told MJBizDaily.
The tax levies could be for excise duty, Canada’s Harmonized Sales Tax, payroll tax or corporate income tax.
According to CRA data, cannabis businesses behind on their tax commitments in other years were:
12 in March 2019.
33 as of March 2020.
68 in March 2021.
141 companies in March 2022.
213 as of March 2023.
The snowballing situation might have been what prompted the CRA to embark on an unprecedented crackdown.
Last week, citing provincial and industry sources, MJBizDaily reported that the CRA had ordered at least three government-owned wholesalers to garnish payments from licensed producers that were delinquent on their tax commitments.
The three wholesalers – in British Columbia, Ontario and Quebec – account for almost three-quarters of all legal cannabis sales in Canada.
The CRA wouldn’t confirm those garnishment orders, saying the disclosure of such information could compromise confidentiality provisions of Canada’s taxation laws.
The tax-collection agency also declined to say how many companies were affected.
Beena Goldenberg, CEO of Toronto-headquartered cannabis operator Organigram Holdings, said the excise tax rate needs to be lower.
But she also said the industry needs a level playing field to continue to mature.
“We all want players in this industry to succeed, and a level playing field is critical to the development of a successful and sustainable industry in the long term,” she said in an interview with MJBizDaily.
https://mjbizdaily.com/canada-unpaid-cannabis-taxes-soar-to-almost-ca300-million/
CGC No 5 on the Barchart 100
https://www.barchart.com/stocks/performance/percent-change/advances?orderBy=percentChange&orderDir=desc
In their effort to legalize and regulate hemp-derived CBD, the Farm Bill authors stipulated that any cannabinoid derived from hemp – defined as cannabis containing less than 0.3% delta-9 THC – was a legal product.
But the delta-9 specification left other cannabinoids outside the realm of regulation.
The Farm Bill also created a “massive gray market worth an estimated $28 billion” that’s delivering “cannabis-equivalent products into our economies regardless of states’ intentions to legalize cannabis use, and dangerously undermining regulations and consumer protections in states where adult-use legal cannabis programs are already in place,” the attorneys general wrote.
The cannabis industry was hopeful Congress would fix that loophole when the 2018 Farm Bill expired in 2023.
But owing, in part, to a leadership struggle and, more recently, a tussle over the federal budget, Congress has yet to release a draft of a new Farm Bill.
In fact, last November, Congress extended the 2018 Farm Bill until September 2024.
The letter noted that, “regardless of your Committees’ intentions, the reality is that this law has unleashed on our states a flood of products that are nothing less than a more potent form of cannabis, often in candy form that is made attractive to youth and children – with staggering levels of potency, no regulation, no oversight, and a limited capability for our offices to rein them in.”
Does any of this sound Like US Cannabis Money???
https://mjbizdaily.com/intoxicating-hemp-derived-cannabinoids-must-be-halted-state-ags-tell-congress/
Weeeeeeee blasting off like I knew she would!!! $CGC
$CGC
$YCBD $IMCC $CGC $ACB
— THE FINAL COUNTDOWN (@READY_2_PROFIT) March 22, 2024
🪴 pic.twitter.com/EdiZSO6OkA
nice hype for a few days .... big players make money , idiots buy ........... soon back to normal to ... about $4
$CGC And here we goooooooo!!! Give me $7+ tomorrow please and thank you!!!
it like the bunny, on & on
Followers
|
664
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
128589
|
Created
|
03/18/14
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |