SLEEKSCAPE'S 2022 CANNABIS & MARIJUANA MANIA GRAND SALAMI -- PART II

[sleekscape]

This was a historic week for the CBD Sector

The first legislative step towards CBD Legalization, since the passing of Federal Hemp Legalization in December 2018, has now been taken

CBD Legalization has always been the target here

Now it’s starting to come more clearly into focus

Chairman of the House Agriculture Committee Collin Peterson has filed a House Bill that would make Hemp-derived CBD exempt from the drug exclusion clause in the FDCA, thereby legalizing the use of Hemp-derived CBD (Not THC) in Food and Supplements

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=153299476

Here is why this legislation doesn’t explicitly change the legal status of THC or Full Spectrum CBD Oil in Foods and Supplements:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=153362213

I’m open to a legal interpretation that could shed light on some type of implicit legalization of Hemp-derived THC based on the bill’s language, but I haven’t read, heard or seen any reputable legal opinion suggesting that’s the case thus far

The world of legal interpretation is an amazing place, so I’m not 100% discounting the possibility that a legal argument for Hemp-derived THC can be made from this language — I just haven’t seen one and it’s already been 4 days — so I’m 98% sure that Hemp-derived THC will remain federally illegal

Regardless, I’ll be keeping an eye out to see if anything new develops in this area

From my viewpoint, had the House wanted to legalize THC in Hemp products, like we see with Full Spectrum CBD Oil, then the language would have been “Hemp-derived CBD and Hemp-derived THC”, because both Hemp-derived CBD and Hemp-derived THC are illegal for the exact same reasons — the drug exclusion clause in the FDCA (there are 3 THC-containing FDA approved medications)

Perhaps the language in the Senate’s CBD Legalization Bill will be different — I don’t believe it will be, but that’s something we should find out in February

— — —

I think Mitch McConnell is the most powerful legislator I have seen in any Congress over the past few decades

What he pulled off with Federal Hemp Legalization was nothing short of magical

Mitch took a Schedule I Drug that had been illegal for 81 years and completely removed it from the Schedule of Controlled Substances, without ever registering a single vote to do so

The Hemp Farming Act of 2018 somehow even managed to avoid a trip to the Judiciary Committee, where it very well may have been voted down

A bill like this should have spent some serious time in multiple Senate Committees

Remember Chuck Grassley complaining about this?

Mitch just said, “I already got the green light from the DOJ, DEA and FDA to do this”

No other Senator in this, or any other Congress, could have pulled off that maneuver

It was an amazing feat of legislative engineering that required savant-like abilities

Despite my liberal praise for the technical merit he utilized to navigate The Hemp Farming Act of 2018 (attached to The 2018 Farm Bill) through Congress, Mitch’s Federal Hemp Legalization Bill didn’t fully get the job done

It failed to remove the chains from Hemp-derived CBD

Now I don’t blame Mitch for that at all

I don’t think the Hemp Farming Act of 2018 would have stood any chance of passing had Mitch attempted to explicitly legalize CBD Foods or CBD Dietary Supplements in the text of the legislation

The combination of the big pharma lobby coupled with many Congressional Republicans’ fear that THC-containing products could be unleashed on America would have been the death knell for such a bill

So Mitch has known for quite awhile that he would need to pass a 2nd bill more specifically geared towards the Federal Legalization of Hemp-derived CBD

I expect to witness another round of world-class legislative wizardry being pulled off in 2020

While the weather is still cold, before Hemp Planting season kicks in

Legalization of Hemp Banking

Legalization of Pure CBD in Foods & Supplements

Changes to USDA Regs

Mandate for FDA to declare formal policy of Enforcement Discretion

All in one bill titled The Hemp & Cannabidiol Act of 2020

Have a great weekend everybody


Sleek