VIANARCHRIS
Well-Known Member
Long before advocating for the legalization of marijuana became a “thing” for governments, Peter Tosh, among others, was singing in support of its legalization. It is somewhat remarkable that, through the pursuit of marijuana for recreational purposes, millions of lives have been destroyed through the process of criminalization. Just as history has demanded apologies of slavers and genocide purveyors, we might expect a time in the not so distant future where we manifest similar sentiments towards those so compromised.
While I can immediately sense the indignation among the law-obsessed, I would point out that slavery was “legal,” as was genocide. But that is not the point of today’s column.
Since the ’70s, there has been, in Canada, a very robust marijuana cultivation and trade from which successive generations of law-skirting entrepreneurs have been making a living, in many cases becoming wealthy in the process. Along the way, thousands have been arrested and charged and incarcerated for such involvement, despite the progressive changing of attitudes toward weed and its role in society.
Related
What I want to offer for consideration is the ongoing persecution of dispensary operators and others involved in the cultivation, trade, and processing of marijuana products in Canada. While there is an obvious requirement for citizens to obey laws, laws that are determined to be unjust, and contrary, in fact, to the spirit of law, which is justice for all, equally, such laws must be struck down, and their enforcement halted, immediately. Not at some distant point in the future when legislators return from summer vacations.
I have been purchasing CBD gel caps from a dispensary which I shall decline to identify specifically.
I have had to lie to obtain them, simply because they are not for me, but for somebody close to me who, for reasons I shall also elect to leave obscure, cannot obtain them himself. We have discovered that the ingestion of these tabs, in combination with other natural remedies traditionally known to ameliorate symptoms associated with a terminal condition he suffers from, are working.
This experience has demonstrated for me, in no uncertain terms, how the permission of dispensaries is a necessary social requirement. Jumping through the hoops of medical process to obtain a prescription was not, in the case of my patient, an option. And for no other reason that he is not a resident of Canada and does not speak English, nor does he have sufficient time here before he returns to his own country.
Because the law does not yet permit the sale of CBD from marijuana products openly without a prescription, we are forced to pay higher prices than we would if there was a more competitive availability of the product. CBD derived from hemp is legally available, provided its THC level is low enough.
Is the corporate marijuana industry viable for the long term?
The lineup at the dispensary where I have been sourcing my CBD pills is almost always “out the door.” When it’s busy, no less than four cashiers are continuously doling out packets of pot, CBD capsules, and even black hashish — a very sought-after delicacy among cannabis enthusiasts. All of the transactions I have observed have been in cash, too. There are always “specials” being offered, and the cashiers demonstrate an adept up-selling style.
These visits to the dispensary give me plenty of time to reflect on the state of the industry and the law in Canada, while I wait my turn. Considering the sub-culture that has been part of the marijuana-consuming crowd’s ethos since the ’60s, I find it improbable that many people will prefer large corporate suppliers over smaller mom-and-pop operations.
Marijuana corporation CEOs always tell me that people will prefer to source their preferred marijuana from companies who maintain pharmaceutical-grade growing and handling procedures, and will shy away from black market sources where “you don’t know what you’re getting.”
I find that argument naive to say the least. While there are without doubt some who will gravitate toward the consistent and clinically produced weed, there are also a great many — I suspect a greater many — who will continue to enjoy the personal touch of having the relationship with a known, local grower.
Long before MMPR, thousands of consumers of marijuana were more than happy to procure their weed thus. The “you don’t know what you’re smoking” argument is just a misleading, alarmist corporate sound bite.
If I decided to start using marijuana regularly, I would probably grow it myself, just out of horticultural interest. I wonder how many Canadians will feel the same going forward.
James West is an investor and the author of the Midas Letter, an investing research report focused on Canadian markets. James West and/or associated funds do not own shares in any securities mentioned in this article. For the full Midas Letter disclosure policy, click here. Postmedia and Midas Letter have a revenue sharing arrangement.
While I can immediately sense the indignation among the law-obsessed, I would point out that slavery was “legal,” as was genocide. But that is not the point of today’s column.
Since the ’70s, there has been, in Canada, a very robust marijuana cultivation and trade from which successive generations of law-skirting entrepreneurs have been making a living, in many cases becoming wealthy in the process. Along the way, thousands have been arrested and charged and incarcerated for such involvement, despite the progressive changing of attitudes toward weed and its role in society.
Related
- Podcast: Aphria Inc CEO Vic Neufeld on changes to the medical marijuana rules
- Podcast: Bruce Linton of Canopy Growth on how the Amazon model is good for marijuana business
What I want to offer for consideration is the ongoing persecution of dispensary operators and others involved in the cultivation, trade, and processing of marijuana products in Canada. While there is an obvious requirement for citizens to obey laws, laws that are determined to be unjust, and contrary, in fact, to the spirit of law, which is justice for all, equally, such laws must be struck down, and their enforcement halted, immediately. Not at some distant point in the future when legislators return from summer vacations.
I have been purchasing CBD gel caps from a dispensary which I shall decline to identify specifically.
I have had to lie to obtain them, simply because they are not for me, but for somebody close to me who, for reasons I shall also elect to leave obscure, cannot obtain them himself. We have discovered that the ingestion of these tabs, in combination with other natural remedies traditionally known to ameliorate symptoms associated with a terminal condition he suffers from, are working.
This experience has demonstrated for me, in no uncertain terms, how the permission of dispensaries is a necessary social requirement. Jumping through the hoops of medical process to obtain a prescription was not, in the case of my patient, an option. And for no other reason that he is not a resident of Canada and does not speak English, nor does he have sufficient time here before he returns to his own country.
Because the law does not yet permit the sale of CBD from marijuana products openly without a prescription, we are forced to pay higher prices than we would if there was a more competitive availability of the product. CBD derived from hemp is legally available, provided its THC level is low enough.
Is the corporate marijuana industry viable for the long term?
The lineup at the dispensary where I have been sourcing my CBD pills is almost always “out the door.” When it’s busy, no less than four cashiers are continuously doling out packets of pot, CBD capsules, and even black hashish — a very sought-after delicacy among cannabis enthusiasts. All of the transactions I have observed have been in cash, too. There are always “specials” being offered, and the cashiers demonstrate an adept up-selling style.
These visits to the dispensary give me plenty of time to reflect on the state of the industry and the law in Canada, while I wait my turn. Considering the sub-culture that has been part of the marijuana-consuming crowd’s ethos since the ’60s, I find it improbable that many people will prefer large corporate suppliers over smaller mom-and-pop operations.
Marijuana corporation CEOs always tell me that people will prefer to source their preferred marijuana from companies who maintain pharmaceutical-grade growing and handling procedures, and will shy away from black market sources where “you don’t know what you’re getting.”
I find that argument naive to say the least. While there are without doubt some who will gravitate toward the consistent and clinically produced weed, there are also a great many — I suspect a greater many — who will continue to enjoy the personal touch of having the relationship with a known, local grower.
Long before MMPR, thousands of consumers of marijuana were more than happy to procure their weed thus. The “you don’t know what you’re smoking” argument is just a misleading, alarmist corporate sound bite.
If I decided to start using marijuana regularly, I would probably grow it myself, just out of horticultural interest. I wonder how many Canadians will feel the same going forward.
James West is an investor and the author of the Midas Letter, an investing research report focused on Canadian markets. James West and/or associated funds do not own shares in any securities mentioned in this article. For the full Midas Letter disclosure policy, click here. Postmedia and Midas Letter have a revenue sharing arrangement.
