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

[sleekscape]

Banking Legalization For MJ, Hemp & CBD


Here’s the bill that passed the House in the 2019-2020 Congress:

https://www.congress.gov/bill/116th-congress/house-bill/1595


In early February 2021, Democrats announced their intention to pass it into law in the new Congress:

Cannabis industry may finally move past cash as Democrats look to loosen banking restrictions

https://www.denverpost.com/2021/02/04/marijuana-banking-colorado-congress-cannabis-restrictions/


In late March 2021, The SAFE Banking Act of 2021 was introduced in the Senate with 6 Republican Co-Sponsors:

Banking Bill Reintroduced In Senate, With Nearly A Third Of The Chamber Signed On

https://www.marijuanamoment.net/marijuana-banking-bill-reintroduced-in-senate-with-nearly-a-third-of-the-chamber-signed-on/

The Senate version is being sponsored by Sens. Jeff Merkley (D-OR) and Steve Daines (R-MT), and it currently has 27 other cosponsors.

Beside the chief sponsors, here’s who’s signed on to this latest version so far: Sens. Kyrsten Sinema (D-AZ), Ed Markey (D-MA), Alex Padilla (D-CA), Patrick Leahy (D-VT), Dick Durbin (D-IL), Ron Wyden (D-OR), Mazie Hirono (D-HI), Tina Smith (D-MN), Angus King (I-ME), Catherine Cortez Masto (D-NV), Michael Bennet (D-CO), Bob Menendez (D-NJ), Jon Tester (D-MT), Jacky Rosen (D-NV), Kevin Cramer (R-ND), Dan Sullivan (R-AK), Kirsten Gillibrand (D-NY), Elizabeth Warren (D-MA), Chris Murphy (D-CT), Gary Peters (D-MI), Bernie Sanders (I-VT), Brian Schatz (D-HI), Patty Murray (D-WA), Amy Klobuchar (D-MN), Rand Paul (R-KY), Bill Cassidy (R-LA) and Cynthia Lummis (R-WY).


— — —


The Outsized Importance of The SAFE Banking Act Of 2021

One of the big keys to the cannabis sector in 2021 is The SAFE Banking Act, which would open up banking for both MJ and Hemp/CBD

It’s also most likely the best legislative vehicle to which CBD Legalization (Hemp-derived CBD Products) can be attached:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161621173


The SAFE Banking Act is an actual and tangible piece of legislation that is ready to move through the Senate in 2021

The reason why The SAFE Banking Act should be passed in 2021 is that it doesn’t make sense for Dems to try to legalize in 2022 without having passed the SAFE Banking Act first

There are a number of reasons why this approach — SAFE Banking in 2021 and MJ Legalization in 2022 — is the most rational

Here are the 2 most important ones from my perspective:

1) Passing the SAFE Banking Act in 2021 makes it more likely that MJ Legalization can attract enough votes in the Senate in 2022 to actually hit the floor — 60 votes are required with the filibuster in place

So if the goal is to pass MJ Legalization before the elections, then what can Dems do legislatively beforehand to increase the odds of being successful?

Passing the SAFE Banking Act in 2021 is the single biggest thing they can do, because once the financial side of things is opened up, investors will flood the sector with money and the momentum to legalize MJ in 2022 will reach an entirely different level — money will drive the MJ Legalization movement through the finish line — that’s what will motivate the handful of Republican Senators needed to pass the MJ Legalization Bill who are currently sitting on the fence — all the talk right now is about social justice being a key driving force, but that’s largely a Democratic ideal — money is the bigger factor for Republicans

2) If the Dems don’t pass The SAFE Banking Act in 2021 and they attempt to pass MJ Legalization in 2022 and are not successful, then they might wind up with nothing

No Banking, No Legalization

It would be great to get legalization, as that would probably resolve the banking issue

But if legalization fails in 2022, then Dems could wind up with NOTHING to show for their efforts and may very well lose the Senate and/or the House in 2022 — if that occurs, the MJ industry could be stuck in neutral for the foreseeable future

That’s the last thing the Democratic Party wants to see happen

The SAFE Banking Act is likely to wind up being the biggest direct catalyst for MJ & Hemp/CBD stocks in 2021 — the prospects of MJ Legalization right now are the biggest indirect catalyst for the cannabis sector, at least until they become more of a direct catalyst after the bill is filed and starts attracting cosigners

The SAFE Banking Act alone would become the biggest federal catalyst to ever hit the cannabis sector thus far

If CBD Legalization is attached to it, the catalyst would be that much stronger for CBD stocks

With the passage of Banking Legalization for MJ and Hemp/CBD in 2021, the anticipation of the potential for MJ Legalization in 2022 would then be tied into the sentiment-driven narrative offered up by Democrats and broadcast by the media — The MJ Legalization story has great potential to take the American cannabis sector to its greatest heights in history in 2021

But it really all starts with The SAFE Banking Act, so its reintroduction into the House and Senate is the first step in this process


Sleek