Martin Shkreli and the Case for Investing in Marijuana
My New White Paper on Marijuana Stocks
Last week, super-villain Martin Shkreli sat before Congress wearing his classic Shkreli smirk.
For roughly an hour, he was drilled by a congressional committee regarding his decision to jack up the price of an AIDS drug. But invoking the fifth, he gave the committee nothing. And while I do think the guy is one of the slimiest snakes on the planet, I also think he was right to give them the silent treatment.
Now, before you write me off as an unfeeling bastard, hear me out...
There’s no doubt about it; Martin Shkreli is absolutely the vile douche bag he portrays in the media. Any person who thinks it’s acceptable to screw over AIDS patients in an effort to bolster a bottom line is despicable.
That being said, should Congress really be spending the time and money to interrogate him over this?
After all, what he did was a complete jerk move. But it’s not illegal to be a jerk. If it were, most of us would be in jail. Besides, he'll end up doing plenty of jail time after he's convicted for securities fraud.
Still, the truth is, there are thousands of people just like Martin Shkreli out there doing horrible things — from bankers who stole the retirements of honest, hardworking Americans to the fossil fuel companies that treat the planet like a toilet because, well, they can.
Even the folks in Congress who attempted to shame Shkreli aren’t angels. In fact, I would argue that many are just as guilty of mistreating sick people as he is.
The Schedule 1 Blues
All these congresspeople who are so fired up about what Martin Shkreli did with that AIDS drug are the same folks that have essentially denied medication to hundreds of thousands of sick people throughout the United States, some of which are also AIDS patients.
There are also thousands of U.S. veterans with PTSD that could benefit from one simple medication that’s nearly impossible to get — thanks to the actions (or inactions) of our elected officials.
I’m talking about medical marijuana and the fact that hardly a single person in Washington has attempted to remove marijuana from its schedule 1 status in the Controlled Substances Act. They're too busy criticizing other unethical people.
A schedule 1 substance is one that is defined as having the greatest potential for abuse and with no medicinal value. Heroin and LSD are listed in this category.
Now clearly, marijuana is not even in the same world as heroin or LSD. As well, there’s quite a bit of evidence to suggest that marijuana could serve as an incredibly effective treatment for everything from anxiety disorders and PTSD to epilepsy and arthritis.
Yet right now, it’s illegal for U.S. citizens to use this medication because no one in Congress has the balls to stand up before a chamber of limp noodles and get the ball rolling on removing marijuana from its schedule 1 status.
The truth is, the government’s lack of interest in removing marijuana from this schedule 1 status is no less immoral than the CEO of a drug company jacking up the price of an AIDS drug.
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Don't Watch OTHER People Make Money!
Now, you may be wondering what any of this has to do with investing and creating wealth.
Well, it’s quite simple...
The tide is turning for the marijuana industry.
Right now, nearly half the states in the nation have some form of legalization in place. By the end of this year, it’ll be more than half. And while the Fed still considers it illegal, hardly anyone in D.C. is doing anything about it anymore. It’s just not worth the money or the bad publicity.
Still, by not removing marijuana from its schedule 1 status, it makes it very risky for those who work in this industry, especially investors. But you know how it goes: Fortune favors the bold. And I can tell you right now that most of the folks who are investing in legal marijuana today are not only bold, but they're also going to become some of the richest people on the planet over the next few years.
Although marijuana is still illegal in the eyes of the feds, it won’t be much longer.
The cat’s out of the bag.
Individual states are generating enormous amounts of tax revenue as a result of legalization.
The number of medical marijuana users is growing by the day, because in many cases, medical marijuana is working better than dozens of other “legal” pharmaceuticals that, unlike marijuana, can actually kill you.
And in states where marijuana is legal — both on the medical and recreational side — local economies are thriving.
The truth is, legalization is virtually a done deal. No one can stop it at this point, not even some holier-than-thou politician who thinks he can win hearts and minds by bullying people with insults and threats. Yes, I’m talking about you, Governor Christie.
So needless to say, I’m in all the way.
The legal marijuana industry is already one of the most profitable in the country. In another five years, it’ll be one of the most profitable in the world. And I, for one, will not sit on the sidelines and watch OTHER people make money from this. You shouldn’t, either.
To a new way of life and a new generation of wealth...
Jeff is the founder and managing editor of Green Chip Stocks and Weekly Score. For more on Jeff, go to his editor's page.
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