Re U.S. official: Canadian marijuana users, workers and investors risk lifetime border ban

["Dave Farber" <farber () gmail com>]

Begin forwarded message:

> From: Jonathan Levine <jonathan.canuck.levine () gmail com>
> Date: September 15, 2018 at 12:39:56 GMT+9
> To: dave () farber net
> Subject: Re: [IP] U.S. official: Canadian marijuana users, workers and investors risk lifetime border ban
>
> (for IP, natch)
>
> A few points are worth adding here.
>
> The $585 ban waiver fee is, I assume, just the portion payable to
> Uncle Sam.  If that's the case, it's safe to assume that having a
> specialist (i.e.lawyer) prepare the application will be a significant
> additional cost.  Plus, that doesn't get you a lifetime waiver of a
> lifetime ban - it's only good for a year.
>
> Are you an investor in any marijuana-related enterprise?  It's quite
> possible that one can't honestly answer that question.  In the last
> couple of years the rise of well-financed big-league pot growers in
> Canada has been meteoric, as in: There are publicly-traded canuck
> companies (e.g. Canopy and Aurora) *now* operating that have
> multi-BILLION-dollar market caps, and it's still a month before the
> legalization kicks in.  (There has, of course, been a busy medical-
> prescription market in operation for years.)  Regardless of how
> severely overvalued these companies are - and most think there
> will be a significant shakeout in the next 18 months - the present
> valuations make them very attractive stocks for mutual funds.  So
> if you have money in such funds, the answer to "Have you invested
> in any marijuana-related enterprise" could be "I don't know."
>
> Then, of course, there's the dysfunction that's going to occur along
> the world's longest undefended border.  Pot:  Legal in Washington
> State, legal (in a few weeks) in British Columbia, but a criminal
> offense to carry your legally-permitted personal quantity in *either*
> direction over the border between (the Canadian legislation does
> not allow for the importation of any quantity for personal use).  And
> Vermont is legal now too, no?  If so, same situation between there
> and Quebec.
>
> Unfortunately, this isn't going to get better anytime soon.  Even
> after SCROTUS is impeached, does anyone think that the present
> veep is going to take the progressive road?  I think not, and that, if
> anything, visions of Reefer Madness dance in his head.
>
> Jonathan



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