With the strains caused by decades of fractional reserve banking confronting the financial system more and more by the day, Reggie Middleton’s Veritaseum has attempted to provide a solution.
Advertised as a software program, Veritaseum facilitates peer-to-peer transactions, and essentially creates infrastructure to replace the rehypothecated exchanges that dominate so many of today’s financial markets. Essentially creating a platform where a bank cannot sell the same asset to multiple parties, while having no way to honor their obligations in the long-term. Certainly we’ve seen this play out in the gold and silver markets, where many analysts estimate as many as 500 paper claims to each physical ounce of metal.
So in the same way that many have seen Bitcoin and the crypto sector as a threat to the financial establishment, Veritaseum fits that profile as well. Which is why there has been a lot of debate over the recent SEC charges that have been filed against Veritaseum, with many speculating that the charges have more to do with politics than an actual violation of the law.
The case is still ongoing, and in a price chart of the last three months you can see how the Veritaseum price was hammered on the news back in August, but has rebounded strongly as reports of a settlement have surfaced. And simply from reading the letter stating the SEC charges, and then considering the response by Middleton’s legal team, there was a lot to suggest that the charges may well have been based on politics.
Fortunately, I recently had crypto analyst Bix Weir on the show to discuss some of the background, as well as how he sees it playing out. Because whether the charges are legitimate or not is currently what’s driving the price of the Veritaseum token. Which means having some basic understanding of the case is particularly significant to investors at this point in time.
So if you’ve been following the crypto market, and Veritaseum in particular, quick to watch the video now to find out what’s really been going on!
October 15, 2019