I can remember $25 per ounce pot... With lots of seeds and not much oomph and probably from Mexico.
Then came the high-grade stuff from Columbia. That was in the late 70s, early 80s... And prices rose substantially. Pounds were going for well over $1,000... And ounces were selling for as much as $200 per ounce and those prices were pretty steady and persistent... Right up until legalization in Canada.
Now it’s almost as cheap as dirt and the reason is pretty obvious... It really doesn’t cost that much to grow or produce and we’re growing it right here in our own backyards with hydroponics, so the cost of transportation is negligible.
The Canadian government thought that by legalizing pot they could corner the market and make hundreds of millions in tax revenue... That’s how they sold the concept to the public.. We’ll make hundreds of millions that you won’t have to pay in taxes.
Only problem is... They thought black-market prices would persist... They were wrong. The black-market adjusted and has undercut the legal market to the point where the legal sale of pot is a money loser.
“The black-market adjusted and has undercut the legal market to the point where the legal sale of pot is a money loser.”
Worse, the force of law has been diminished.
“The Canadian government thought that by legalizing pot they could corner the market and make hundreds of millions in tax revenue... That’s how they sold the concept to the public.. We’ll make hundreds of millions that you won’t have to pay in taxes.
Only problem is... They thought black-market prices would persist... They were wrong. The black-market adjusted and has undercut the legal market to the point where the legal sale of pot is a money loser.”
So, while we follow Jamaica to greatness, the return on [Noblefree’s] legalized pot is a losing concept.