The True Significance of Final Covid Stimulus Bill Passing Congress
Congress has been completely tied up with Covid for 1 full year now, ever since March 2020 when the first Covid Stimulus Bill hit the floor
As a result, not much other than Covid-related bills have been able to move thru Congress for the past 12 months — issues like cannabis were placed on the back burner, along with nearly all other forms of legislation
With multiple vaccines having been successfully developed in an incredibly short timeframe, which is a truly historic medical achievement, and their dissemination into arms across America now well underway, the pandemic is now widely expected to dissipate as we move thru the Spring and deeper into 2021, so for all of us, the real significance of this final Covid Stimulus Bill being signed into law by Biden this week is that Congress is finally open for business again for non-Covid related bills
Now this doesn’t mean bills like The SAFE Banking Act or CBD Legalization are going to automatically pass next week or next month
But what it does mean is that these 2 bills in particular now have a reasonable chance of moving thru Congress in 2021, and that’s why I’m very excited to be invested in the MJ and Hemp/CBD sector this year
The Legalization of MJ is another bill which is expected to be drafted and filed in 2021, and though I believe any possibility of its passage won’t take place until 2022, that won’t stop this possibility from being talked about, and given the fact that the complete descheduling (like alcohol) and legalization of MJ is the largest and most exciting catalyst in the history of the cannabis sector, even the concept of MJ Legalization will also clearly continue to possess the potential to spark up the cannabis sector again in 2021
Now I’m not here for mere talk of passing legislation, which obviously created tremendous excitement throughout the cannabis sector earlier this year
Talk has never led to a cannabis mania before, so it was really amazing to see a few days of truly manic action in February merely based on talk, something I never expected to see
What we all witnessed last month was entirely unprecedented, as actual events have triggered all prior manias we’ve seen in the cannabis sector — in 2014, 2016, 2017 (Canada) and 2018
And that’s what I’ve always anticipated will trigger any cannabis mania in 2021 — but based on what happened in January and moreso in February 2021, I certainly won’t dismiss the concept that talk alone can cause the cannabis sector to heat up again and possibly trigger a mania — dismissing that possibility entirely and ignoring the fact that the catalysts in 2021 are actually considerably more significant than what we’ve seen in prior cannabis manias — Colorado launching sales of Rec MJ in 2014, multiple states listing Rec MJ on the ballot in 2016 with Clinton’s support of rescheduling MJ from Schedule I to Schedule II (legalization of Med MJ which would now require a prescription from a physician with Rec MJ still remaining federally illegal), and California launching sales of Rec MJ in 2018 — would be a foolish thing to do
Federal Legalization of MJ & Hemp/CBD Banking, Federal Legalization of CBD Products and Federal Legalization of MJ are all legislative catalysts that would completely transform the cannabis industry, taking these respective cannabis sectors from their current status — state-by-state patchwork economies filled with uncertainty and risks — and turning them into fully national and legal industries, thereby elevating the financial ceiling of both industries immediately, causing an overnight stampede of investor interest into these sectors
The promise of 2021 is undoubtedly fantastic and whether we see none, one or two of these events occur in 2021 is something for which I’m very willing to exercise patience — whatever happens between now and then is immaterial to me, so if there are lulls in the action moving forward, as we have seen occur during the past few weeks, that’s perfectly fine with me — lulls aren’t going to be predictive of the future in 2021 unless they are accompanied by a change in future potential of any of these cannabis bills passing thru Congress, and thus far in 2021 I’ve seen nothing that changes the potential for either The SAFE Banking Act or CBD Legalization to pass Congress this year
And if we are so fortunate to watch the SAFE Banking Act pass thru Congress, it’s only going to increase the fervor and intensity of the MJ Legalization talk as well as increase the probability of its future passage in 2022, so there’s a big added bonus to the passage of cannabis banking legalization as well
So I’m undeterred by the action across the cannabis sector over the past few weeks, which I should mention has also nearly exactly mirrored the action in the Nasdaq index itself, continuing to feel very patient given the significance of the multiple catalysts that lay in front of us, and quietly observing the action
Sleek
