Legalizing cocaine might instead crash the price by removing the artificial scarcity, and the arbitrage opportunity for criminals to exploit. I agree with him that suppressing supply hasn’t worked, let’s try reducing demand. I don’t know his motives, but I support his stated motives.
A few days agos, french Guyana (a french oversea region, who have to follow the same Law as continental france) announced stopping prosecution against airport traveller caught with up to 1kg of cocaïne. The passengers caught will juste be banned of airport (the almost only way for entering or leaving french Guyana) for 6 months. Very surprising for a lot of people. I still wait for a reaction from Paris or mainland medias.