Friday File unlock: What’s the “Bank of Marijuana?”

Sharing a Radical Wealth Alliance teaser solution from last month...

By Travis Johnson, Stock Gumshoe, January 31, 2020

This teaser solution first appeared in the Friday File on December 20. It has not been updated or revised, Irregulars can see the original here if they prefer. The ad has not been in heavy circulation since we originally covered it, but I thought non-Irregulars might find it interesting.

The teaser that some folks have been asking about is from Radical Wealth Alliance, edited by John Persinos ($2,495 “on sale”, no refunds), and it promises that this idea will let you…

“Legally ‘ROB’ Every Weed Company in America with a Single Click”

Sounds like fun, right? There’s lots of imagery about an armored car robbery, and huge bags full of cash, but it’s pretty much just all about the fact that banking is a huge problem for US marijuana companies — since marijuana is still a DEA Schedule 1 drug and still illegal under federal law, pot companies can’t access a full suite of financial services… partly because the big banks don’t think it’s worth the risk in that legal grey area, and partly because it’s genuinely illegal and a major challenge, particularly for banks that operate across multiple states.

And, as pot traders are certainly aware, Congress also knows this is happening… after all, representatives from 33 states have marijuana businesses in their district that are frustrated that they can’t get regular bank loans or take credit cards and deal in massive piles of cash every day, which is a logistical and security challenge that spills over into the rest of the neighborhood and community (nobody wants to live and work next to a robbery magnet).

Here’s a bit from one of the lead-ins I saw to this ad:

“How an Idaho Eagle Scout is about to unleash a historic weed windfall…. Idaho native Mike Crapo doesn’t tie knots like used to… but starting on January 17, he could un-tie America’s #1 worst outdated law with a single swipe of his pen. After all, Mike is a Senator, and a key one at that. He’s the swing voter who just LEAKED to Politico he would personally sign off. Our full analysis shows he’s set to sign on January 17 — opening a one-time profit window to grab an insane $141,625 in fast cash.”

Persinos implies that as soon as the banking world gets the green light to work with pot companies, there’s one bank that’s going to get most of the business…

“Once this monumental law passes, every marijuana company in America will finally be able to open bank accounts and access normal banking services, like any other business….

“In other words, the surge of new banking activity among marijuana businesses once this law is signed won’t be a trickle…

“It’ll be a trillion-dollar tsunami of cash (hitting just 1 beach)

“That means any bank that’s in position RIGHT NOW…

“Will start pumping all this money in, hand over fist.”

It won’t surprise you to hear that this all-or-nothing stuff is a bit of an exaggeration, there are lots of banks, including Bank of America among the b