As rediculous and silly as this definitely is… Look, I’m sorry Canada, but maybe this stupid policy is for the best. I dont want any of my kind neighbors to the north to get hurt during this period of xenophobic lunacy.
Please stay home, and maybe when the clown car leaves, we can all light one up and go “sorry”.
I’m not sure that follows. There’s no general prohibition as far as I know in investing in companies that manufacture things that aren’t legal in the US, so long as the company isn’t involved in illegal import into the US or something like that, or it isn’t something specifically prohibited like child porn.
After all, you can’t be prosecuted under US laws for drug possession if you are possessing that drug legally in another country and not trying to bring it in. The US drug laws don’t work that way. This is an even more remote – holding shares of stock in a company that legally possesses drugs in a country where that is legal activity.
I’d be interested to hear under what theory federal prosecutors would proceed in such a situation.
First off any broker worth his salt would discuss a purchase with his client if it in anyway may be controversial. Like I said above I had bought stock in Canopy about a year ago, This purchase was made by my son, who is a stock broker. He called and asked if I had any issues with cannabis stock. I said no, and he explained it was a Canadian company. I said why Canada? He explained Canada was going to full recreational use. He said American stocks/companies still had the possibilities of blowback from the Feds. They also have issues dealing with banks, because of the federal schedule one status.
If the Feds try to go after Americans who invest, they would also need to go after the NYSE for selling it to Americans. I am not staying up at night worrying about federal actions. I assume they are happy because sooner or later the US will also be making money off my trade.
My point is a broker needs to think of his clients. Even if legal, stock ownership in big tobacco is not a good idea if your client is the Surgeon General.
And as side note, I didn’t think I could have loved Canadians any more than I did before. I was wrong, here’s to you you wonderful Canucks.
It’s not up to the Federal government; this is something individual US Immigration officers have the authority to do without any means of recourse. A non-American can be permanently or temporarily barred from entering the States and there is nothing anyone or any organization can do to appeal or override this decision. It’s is one of the most dangerous levels of authority to give a person, period.