Can service members invest in pot companies?

[TCROW]

Pentagon hazy on legality of pot company investments for servicemembers

An Air Force Ethics Office announcement comes amid confusion over how ownership of pot-related businesses might affect determinations of suitability for federal employment and security clearance adjudication for the Pentagon’s civilian and military workforce.

www.stripes.com

What exactly constitutes investment in an “entity dealing with marijuana” or buying stock in a pot-related company has not been clearly defined.

The industry’s growth means servicemembers and civilians with TSP accounts, individual retirement accounts or mutual funds may already be invested in marijuana.

Along with advising legal offices to stand by, the email attributed to McGuire included a list of “companies relating to marijuana investments,” which included Constellation Brands, the distributor of Corona beer. Constellation bought a stake in Canopy Growth Corp., a publicly traded cannabis and hemp company, and is reportedly developing cannabis-infused drinks.

Also listed is Scotts Miracle-Gro, a producer of fertilizer and other lawn and garden products. The document links it to pot through its hydroponics equipment. Hydroponics, a process of growing plants without soil, is a popular technique for growing marijuana.

 

[nutz]

Since case law isnt prevalent yet, I’m sure it will be prosecuted (or not) on a very random basis for the near future.

 

[This_person]

What other products are service members allowed to invest in that violate federal law?

Seems like a no-brainer to figure out something out of the infinite number of other choices one has on where to invest one's money.

 

[TCROW]

What other products are service members allowed to invest in that violate federal law?

Seems like a no-brainer to figure out something out of the infinite number of other choices one has on where to invest one's money.

A key takeaway from the article is that often times, it's not known that they are investing in these companies, what with highly diversified portfolios that funds typically offer. I mean, MiracleGro is used to fertilize pot, so that's now a no-no? I mean water is used to grow pot. So is sun. So is electricity.

 

[This_person]

A key takeaway from the article is that often times, it's not known that they are investing in these companies, what with highly diversified portfolios that funds typically offer. I mean, MiracleGro is used to fertilize pot, so that's now a no-no? I mean water is used to grow pot. So is sun. So is electricity.

Using a fertilizer, or water, or electricity is a pretty huge stretch, isn't it? I mean, it takes electricity to make meth, too, but we don't jail the utility company. So, that doesn't seem like a real problem - just a made-up one.

I suppose we could arrest the makers of Adidas shoes because some illegal immigrants have been caught wearing them when they illegally cross our borders, but I'm pretty sure there's no one that stupid. So, let's leave the Miracle Gro and "the sun" out of the discussion, so we can pretend to be speaking on an adult level, ok?

It should be relatively easy to say to your portfolio manager "I don't want to invest in companies that violate federal law - even if the feds ignore them, or the state tries to override federal law."

 

[Ken King]

Wouldn't it depend on the intended use of the product? If it is being created for medicinal use, would that be different than investing in a pharmaceutical company?

 

[This_person]

Wouldn't it depend on the intended use of the product? If it is being created for medicinal use, would that be different than investing in a pharmaceutical company?

Currently, federal law does not allow for pot to be used for medicinal purposes. Not a single test has shown pot to be better or more effective than other, regulated products (though it does help with some, virtually every help it gives is also available in another form that provides more help).

So, yes, it would be different.

 

[Ken King]

Currently, federal law does not allow for pot to be used for medicinal purposes. Not a single test has shown pot to be better or more effective than other, regulated products (though it does help with some, virtually every help it gives is also available in another form that provides more help).

So, yes, it would be different.

Thought that the Hemp Farming Act of 2018 (S. 2667) separated Hemp from Marijuana and removed extracts derived from Hemp (Hemp that has less than .3% THC content) from the controlled substance act.

edit: actually S2667 was incorporated into the 2018 Farm Bill that was signed into law.

 

[Monello]

Investing in and smoking/using are different activities. Besides, who would know? You don't have to disclose those things. Not yet anyway.

May as well add investments in a legal Nevada bordello or shares in an art gallery that displays what would amount to pornography. This being March, many DOD offices will have a pool for the NCAA tourament. Same thing happens the week before the super bowl. I can't see anyone being keel hauled for participating in those even though they are technically illegal in most states.

 

[This_person]

Thought that the Hemp Farming Act of 2018 (S. 2667) separated Hemp from Marijuana and removed extracts derived from Hemp (Hemp that has less than .3% THC content) from the controlled substance act.

edit: actually S2667 was incorporated into the 2018 Farm Bill that was signed into law.

Then, we are not talking the same thing.

 

[This_person]

Investing in and smoking/using are different activities. Besides, who would know? You don't have to disclose those things. Not yet anyway.

It's only illegal if you get caught? There's truth to that, sort of.

May as well add investments in a legal Nevada bordello or shares in an art gallery that displays what would amount to pornography.

Except there's no federal law against a bordello, so states have the authority to regulate that as they see fit. There is federal law against pot. So, that's not the same thing at all.

I know of no law against "what would amount to pornography" at the federal level either. If there is, there are a lot of web sites, magazines, TV channels, etc., that are in a heap o' trouble.

This being March, many DOD offices will have a pool for the NCAA tournament. Same thing happens the week before the super bowl. I can't see anyone being keel hauled for participating in those even though they are technically illegal in most states.

Get caught in a federal office (other than President Obama's Oval Office) betting with money on your brackets, and you are in line to be fired.

 

[BernieP]

Since case law isnt prevalent yet, I’m sure it will be prosecuted (or not) on a very random basis for the near future.

It's been addressed (more or less). Marijuna and it's various derivatives, are illegal under federal law.
As a member of the armed services and for civil service, you are expected to follow those laws regardless of the state you live in.

This was recently addressed with the announcemnet of the weed infused beers.

Feel free to test the law, but my guess is you would be prosecuted under federal law.. Probably won't see jail time, but your employment would probably be terminated (as well as your clearance)
Then you can run for public office and become a member of the house, senate and maybe even president.

 

[Monello]

When I think of the government overreach in my lifetime, I hate to see what the next 50 years brings.

 

[This_person]

What other products are service members allowed to invest in that violate federal law?

Anyone ever able to come up with an answer to this?

 

[PeoplesElbow]

It's been addressed (more or less). Marijuna and it's various derivatives, are illegal under federal law.
As a member of the armed services and for civil service, you are expected to follow those laws regardless of the state you live in.

This was recently addressed with the announcemnet of the weed infused beers.

Feel free to test the law, but my guess is you would be prosecuted under federal law.. Probably won't see jail time, but your employment would probably be terminated (as well as your clearance)
Then you can run for public office and become a member of the house, senate and maybe even president.

We had an email go out about some beer that had 420 in the name, that beer is sold in the Bowling Alley in the drill hall. I don't think it was infused with THC but that email said it was not to be drunk by active duty.

Of course some of the security people are fairly gullable, I caught them sending out a facebook hoax a while back and got chastised when I pointed out that this was a hoax.

 

[nutz]

Feel free to test the law, but my guess is you would be prosecuted under federal law.. Probably won't see jail time, but your employment would probably be terminated (as well as your clearance)
Then you can run for public office and become a member of the house, senate and maybe even president.

How did you make that leap? I’m self-employed so no need or desire to test the law.

 

[Ken King]

Anyone ever able to come up with an answer to this?

Maybe a better question is, why are the stocks in question even available if they are illegal? After all doesn't the government (via the SEC) legally authorize their offering?

 

[PeoplesElbow]

Maybe a better question is, why are the stocks in question even available if they are illegal? After all doesn't the government (via the SEC) legally authorize their offering?

I was thinking that myself, if they are illegal shouldn't the NYSE, NASDAQ etc that trade them be shutdown?

 

[Chris0nllyn]

Maybe a better question is, why are the stocks in question even available if they are illegal? After all doesn't the government (via the SEC) legally authorize their offering?

Some are Canadian companies (5 of them were given the thumbs up to list on the NASDAQ). Some are in over-the-counter exchanges. Some are ETFs. Some are considered bio-tech companies.

It won't be long before the same people who locked people up for it will be making money from it.

It's a great time to get in on the ground floor. It's like buying in on Budweiser right before prohibition ended.

 

[Ken King]

It's like buying in on Budweiser

More than you might think as Anheuser-Busch InBev is forming a joint (my emphasis) venture with Tilray of Canada. "Tilray and Anheuser-Busch InBev will each put up $50 million in order to research potential cannabis-infused beverages that contain tetrahydrocannabinol (THC) and/or cannabidiol (CBD) for the Canadian market." (source: Motley Fool)