Seldom does society debate whether alcohol should remain legal.
As the most widely accepted drug in the world (with the possible exception of caffeine), we’ve grown accustomed to having myriad options to choose from when it comes to flavours, combinations and locations to imbibe.
Rather than remain paralysed by debate over whether liquor is ‘evil’ or a ‘gateway drug’, we have spent time cultivating our palates and distributing education campaigns. The alcohol industry is now one of the most successful industries in the world. And it’s a fundamental feature of our national and social culture.
Only a select few devoutly religious, conservative and, dare I say, soulless minority groups wish to outlaw alcohol for everyone. Most can recognise that it’s a dangerous game to try and take away the pleasures of life. Better to leave it up to the public to decide whether they want to indulge.
Because as we’ve seen before, those who attempt to legally enforce moral superiority will have to face angry mobs. Look to the US’ failed experiment of prohibition. It’s only real achievements were causing an underground black market to thrive, and giving a massive income boost to organised crime.
Prohibition protest — Source: Salon.com
When it comes to cannabis, on the surface, it appears the protest against prohibition has been silent.
However with 2.1 million Australians reporting that they have used cannabis within the last 12 months (a figure which is most likely a gross underestimation of the actual number of casual or heavy users) — it’s clear what we think of the law.
The black market is alive and well in Australia. But as recreational marijuana has never been fully legalised, in a sense, we don’t know what we’re missing.
Once it has become ingrained in our culture, it will be extremely hard to rip it away. We will view prohibition of cannabis in the same way that we do alcohol — a measure to stifle individual freedom and undermine the concept of personal responsibility.
And with Canada set to become the first Western nation to fully recognise that cannabis prohibition has failed, now is the time for the world to watch and learn.
A very profitable change of heart
On 17 October, Canada will become the second country after Uruguay to completely legalise recreational weed. It will be the largest nation, and thus marketplace, for weed across the globe — so investors have plenty to be excited about.
After more than a century of prohibition, Canada will bring cannabis out of the hands of the black market and establish it as a taxable commodity. A very wise decision for Canada’s economy.
According to a report by Global Market Insights, the global medical cannabis industry is set to surpass $77.4 billion by 2024. And that’s not even taking into account the incredible potential of the recreational market.
This is a move that has been a long time coming. Sentiment is changing. Young people no longer buy into the longstanding scare campaigns of the past. The over-dramatised raids and excessive demonisation of ‘criminal’ growers has become almost comical to the western public. In fact, the overwhelming response to the ‘exposés’ has been exasperation towards the law itself.
This landmark decision is both a tangible recognition of the place cannabis has in modern culture, and a rejection of the archaic attitudes of the past. It also signifies that the red tape blockading the booming cannabis industry has been cut, opening up the possibility for fortunes to be made from legal weed.
Knowing this, Sam Volkering has found one virtually-unknown Aussie pot play that may soon carve out a huge slice of this newly emerging multi-billion-dollar cannabis industry. With Canada’s market about to boom, it’s important that you don’t delay. Because come 17 October, this stock could already be flying as investors pile in.
To read Sam’s latest investor briefing, click here.
This week in Markets & Money:
Cute animals…catchy jingles…risky stunts…insurance companies will try anything to incite you to switch or at least review your car insurance every year. But what if your car sorted its own insurance? As Selva wrote on Monday, with self-driving cars, this could soon be a reality.
To learn more, click here.
Brazil’s political landscape is in chaos. And as it’s the eighth largest economy in the world, this could have a ripple effect across global markets.
To find out why, click here.
Let’s say you have a spare US$10 million to invest right now. But, there is a catch. You have to invest it all, and you can only invest it in either crypto or cannabis. Which one would you choose? Well, as Selva wrote on Wednesday, there’s one choice you’d be better off taking.
To learn which one it is, click here.
The property market has been seeing falls for the last 12 months, with Sydney (6.1%) and Melbourne (3.4%) suffering the largest drops. These two cities make up 60% of the Australian property market, and as a result, real estate is no longer looking so appealing.
To learn how to navigate this falling market, click here.
Madrid and Barcelona — Spain’s two main cities — are major rivals. Much like Sydney and Melbourne, they are in constant competition. Which city is better? Well, it all depends on who you ask. But, as Selva wrote on Friday, there is one thing these two cities agree on: they both want their own digital currency.
To learn more, click here.
Until next week,
Editor, Markets & Money