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We are back. Thank you for your patience during the week off, and a genuine welcome to everyone who subscribed while we were quiet. You picked a good week to show up; there is a lot to catch up on. Because we were away, today's edition reaches further back than usual, and a few of these stories broke while we were away. They earned their place anyway.

Today's edition is sponsored by Apollo. Their support keeps these briefings free and focused on what actually matters.

The catch-up theme picked itself. While we were out, the loudest new voice in the hemp fight stopped talking about gas stations and started talking about Beijing. Former Homeland Security Acting Secretary Chad Wolf wants the November restriction treated as a national-security question, which is a familiar move with a familiar cost: it makes the boring, necessary work of actual regulation harder to start. Meanwhile Massachusetts put repeal on the November ballot by 122 signatures, the Justice Department built a False Claims Act case out of a founder's pandemic loan forms, and Germany's medical market told researchers exactly what patients want to buy.

🛡️ The hemp ban gets a national-security sales pitch
🗳️ Massachusetts repeal reaches the ballot by 122 signatures
💸 A founder's PPP paperwork becomes a False Claims Act case

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.

H.L. Mencken, In Defense of Women (1918)

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