Posted July 14, 2021
By Aaron Gentzler
Feds versus States
“Personally, marijuana shouldn't be legal at the federal level, but it shouldn't be illegal either,” our contributor says today. “Last I checked, the 10th Amendment says "If it ain't here, details belong to the states.
“Marijuana isn't in The Constitution, so it should be up to the states. But the federal government shouldn't be prohibiting it. The federal government should NOT require Utah to legalize it, but they shouldn't be preventing Colorado from legalizing it, either.
“I hope this isn't an all or nothing issue. It shouldn't be,” he concludes.
According to our reader, marijuana should be a decision for states to decide. Do you think that makes for an untenable patchwork of legalization… or not?
Also, are there other issues you think should be left up to states without federal intervention?
Send your opinions to, TheRundownFeedback@StPaulResearch.com
Your Rundown for Wednesday, July 14, 2021...
The Reddit Revolution (?)
“In January, retail investors took the internet by storm with their Reddit revolution,” says our technology expert Ray Blanco.
“But as it turns out, the Reddit ‘revolution’ was not really a revolution at all,” he says. “In fact, Wall Street elites made out the best — the four largest asset managers that held GameStop gained roughly $1 billion since the beginning of the year. One hedge fund reportedly made $700 million on a play on the company.
“Meanwhile, many novice investors lost their shirts holding onto shares much longer than they should have.
“And with the unregulated nature of social media coupled with the unregulated nature of a financial tool including crypto,” Ray says, “it became THE way to scam regular investors.
“We all saw the sudden surge in Dogecoin — the altcoin that started as a joke and ended up gaining an eye-popping amount.
“But it was never a legitimate form of currency… internet traders got in and out fast, often promoting it to the next person in order to cash out with huge gains.
“What’s happening now is that developers will approach social media influencers and celebrities, offering them a certain amount of their token,” says Ray. “The influencer is required to make a video or post to promote it, and then they are able to sell it for a massive profit.
“A pump and dump by definition,” he emphasizes.
“And though you’re probably not lining up to buy Dogecoin, you should be careful about the kind of financial advice you read online, especially these days [because] this content isn’t as regulated as, say, our business.
“We, along with many other legitimate financial forecasting entities, go under a scrutinizing legal lens,” Ray says. “Social media influencers, on the other hand, do not.
“My team and I work hard scouring the markets to bring the best insights that benefit you and I look forward to continuing doing so for years to come!”
Market Rundown for Wednesday, July 14, 2021
S&P 500 futures are up 18 points to 4,379.
Oil is down 21 cents to $75.05 for a barrel of WTI.
Gold’s up 1% to $1,827.30 per ounce.
Bitcoin is up 1% to $32,705.26
Send your comments and questions to, TheRundownFeedback@StPaulResearch.com
We’ll have more to say Friday… Have a great day.
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