Why this will be the “green wave” election… This new tech is censor-proof… Try these Twitter alternatives… A recipe for groupthink…
The mainstream press is saturating the airwaves with the partisan food fight. But that’s not our beat here at The Daily Cut.
Our mission is to keep you up to date with the best insights and ideas from the team of experts here at Legacy Research.
Besides, as Legacy co-founder Bill Bonner told readers earlier today…
And now, another election… and another big distraction. No matter who wins, the agenda remains the same: more money, power, and status for the insiders; less for you.
Bill’s right. The trouble with elections is that one of the candidates wins. And the winner usually ends up playing for team Deep State.
But there’s one Election Day decision that could have a big economic impact for you.
It has to do with a trend that’s been making our readers money hand over first.
As regular readers know, cannabis legalization is sweeping the globe. And it’s been one of the top profit opportunities on our radar here at Legacy Research for the past year and a half.
In that time, Crisis Investing chief analyst Nick Giambruno built a portfolio of nine best-in-class legal cannabis stocks.
So far, the average gain is 97%.
And the top performer, Canadian pot grower Canopy Growth (CGC), is up 478%.
Nick started building his “End of Marijuana Prohibition” portfolio in June 2017.
That was just two months after Canada’s ruling Liberal Party introduced legislation to legalize pot. And it was long before mainstream investors got onboard.
Now, Nick says global cannabis legalization is unfolding even faster than he thought it would.
You see, Canada isn’t the only country ending pot prohibition.
Just last week, Mexico’s Supreme Court ruled that prohibition was unconstitutional. This effectively legalized cannabis for adult recreational use south of the border, too.
And that will have a knock-on effect in the U.S. As Nick told Crisis Investing readers…
[The news out of Mexico] puts even more pressure on the U.S. to legalize cannabis as soon as possible. Its neighbors to the north and south – every other country in North America – will soon have legal cannabis markets worth hundreds of billions of dollars. This will put tremendous political and economic pressure on Washington to legalize.
Cannabis is illegal at the federal level in the U.S.
But it’s legal for medical use in 31 states (plus Washington, D.C.). And recreational use is legal in nine states (plus D.C.).
And the “green wave” Nick has identified will continue in today’s midterm elections. Four more states have legal pot laws on the ballots.
Voters in Utah and Missouri will have their say on allowing cannabis for medicinal use. And voters in Michigan and North Dakota will choose whether to approve cannabis for recreational use.
Polls are in scant supply. But they point to legal pot laws passing in Utah, Missouri, and Michigan… with North Dakota still unclear.
The more states that legalize pot, the harder it will be for the feds to enforce federal prohibition.
And the states that have legalized are raking in much-needed tax dollars from legal cannabis sales. State legislatures aren’t going to be rolling back their laws in a hurry.
Besides, full legalization is what most Americans want. Nick again…
Today, 66% of Americans say cannabis should be totally legal. That’s the highest level of support since polling on this issue started 49 years ago. And it’s more than double what it was in 2000.
As a point in comparison, when Canada fully legalized cannabis earlier this year it had the support of 68% of Canadians. That puts the U.S. within spitting distance of what it took to fully legalize in Canada.
As Nick told the folks who made the trip to Bermuda for the first annual Legacy Investment Summit, now is the time to build a small speculative position in legal pot stocks.
As the wave of global legalization continues… the market for legal pot is going to explode. And that means large, well-financed growers such as Canopy Growth will see profits explode higher, too.
And at $40 a share at writing, Canopy is still under the buy-up-to price of $50 that Nick has set in his model portfolio.
We were talking about a bombshell document – titled, chillingly, “The Good Censor” – that leaked recently from Google HQ.
It reveals that Big Tech is well on its way to ending free speech online. And to help you fight back… we promised to share some of our favorite censorship resistant challengers to Big Tech.
First up is Mastodon.
It’s an open source social network that has similar functionality to Twitter. The main difference is that it’s “federated” – meaning there is no one server, company, or person running it.
Here’s how it works…
Anyone can host their own “instance” of Mastodon and set up their own rules around content moderation. Think of each instance as an independently operated community with its own bylaws.
There are no top-down rules. As a user, you can choose the instance that suits you best.
For example, users in one instance of Mastodon might decide to ban Nazi symbolism or Holocaust denial. Other instances could choose to allow these kinds of posts.
Instances that don’t attract enough users wither on the vine. Those that have rules that appeal to enough people thrive. There’s no need for someone like Twitter CEO Jack Dorsey to call the shots like the Wizard of Oz behind the curtain.
It’s powered by the same decentralized database technology that powers all cryptocurrencies – a “blockchain.”
A feature of all blockchains is permanence. Once you add something to a blockchain database, you can’t remove or change it… ever.
This means posts on Peepeth are 100% censorship proof.
Bear in mind, these platforms are new. They don’t have all the bells and whistles of Twitter. Nor do they have anywhere near Twitter’s 326 million users.
But they’re an important way to support free speech online. So we encourage you to check them out.
In yesterday’s dispatch, we showed you how Google – the gateway to the internet – plans to take the internet from being an “unmediated marketplace of ideas” and censor it to the point where it becomes a “well-ordered space for civility and safety.”
It’s a recipe for groupthink and totalitarian-style thought control. Yet we got nothing but tumbleweeds in response.
Either you just don’t care about what’s going on or you missed yesterday’s dispatch.
Catch up here and let us know what you think.
Are you ready to live in a society where a bunch of Silicon Valley world improvers decide what ideas you can and cannot think? We’re all ears at feedback@legacyresearch.com.
Until tomorrow…
Chris Lowe
November 6, 2018
Lisbon, Portugal