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Crypto investors are filing complaints against the SEC for corruption and violations of their rights. Colleagues of Reggie Middleton join the show to discuss the latest actions against the SEC and why they are leading this cause. They explain the corruption that is deep in the SEC including fabrication of evidence and coercion of witnesses. You can learn more about their efforts discussed during the show at the following websites:Bar Complaint: https://veridao.io/page/complaint/tenreiro/Judicial Complaint: https://veridao.io/doc/complaint/Silver Rounds: https://quantum-metals.co.nz/veritaseumtm-limited-edition/Telegram: https://t.me/Veritaseumofficial
A powerful group of associates who represent Reggie Middleton join me to discuss his case and the patents. You will learn the incredible coercion by the SEC to flip witnesses while trying to take control of Middleton's valuable patents. The group shares their own experiences and explains why they believe his patents are the most valuable patents that exist in the world.You can learn more about this case and about Reggie Middleton's work at t.me/Veritaseumofficial or on the X channel at X.com/SovereignRiz/articles
A powerful group of associates who represent Reggie Middleton joins me to discuss his case and the patents. You will learn the incredible coercion by the SEC to flip witnesses while trying to take control of Middleton's valuable patents. The group shares their own experiences and explains why they believe his patents are the most valuable patents that exist in the world. You can learn more about this case and about Reggie Middleton's work at t.me/Veritaseumofficial or on the TwitterX channel at X.com/SovereignRiz/articles Links mentioned in the show: Sign up for my Substack at https://SarahWestall.Substack.com Nano Soma: Try the Amazing Nano Soma line of products and receive a 10% discount at https://iwantmyhealthback.com/sarah Leela: Learn more about Leela's Quantum Tech at https://bit.ly/3iVOMsZ or at https://SarahWestall.com/shop Consider subscribing: Follow on Twitter @Sarah_Westall Follow on my Substack at SarahWestall.Substack.com See Important Proven Solutions to Keep Your from getting sick even if you had the mRNA Shot - Dr. Nieusma MUSIC CREDITS: “In Epic World” by Valentina Gribanova, licensed for broad internet media use, including video and audio See on Bastyon | Bitchute | Brighteon | Clouthub | Odysee | Rumble | Youtube | Tube.Freedom.Buzz Reggie Middleton Biography DISRUPTOR-IN-CHIEF, VERITASEUM AND CO-CHIEF EXECUTIVE OFFICER, VERITASEUM SECURITIES Reggie has advised tens of thousands of investors, traders, hedge funds, family offices and global banks. Mr. Middleton publicly predicted the fall of Bear Stearns, Lehman Brothers, GGP (2nd largest US retail REIT), and the European sovereign debt crisis amid nearly 100 successful macro and investment calls. Reggie's firm has been the first to settle a peer-to-peer blockchain swap, the first to apply for patent protection for the capital markets application of the technology in every major financial jurisdiction, and has heralded the merits of blockchain-based assets since 2013. He has been featured on The Keiser Report, Boom Bust, Bloomberg, BBC and CNBC on a regular basis. Fun fact: Reggie is an accomplished mixed martial artist, initially qualified for the 1988 olympic team and is an active fighter, self-sovereign philanthropist and father of three.
Crypto currency entrepreneur, Reggie Middleton, joins the program to explain the attack on crypto entrepreneurs that is ongoing. How he is specifically being targeted and why he and others in this space are being targeted. Middleton is heavily supported by Veri owners, the same people who the government claims he defrauded.You can learn more and support his cause at https://sites.google.com/view/rmlf/home
Crypto currency entrepreneur, Reggie Middleton, joins the program to explain the attack on crypto entrepreneurs that is ongoing. How he is specifically being targeted and why him and others in this space are being targeted. Middleton is heavily supported by Veri owners, the same people who the government claims he defrauded. You can learn more and support his cause at https://sites.google.com/view/rmlf/home Links mentioned in the show: Learn more about Leela's Quantum Tech at https://bit.ly/3iVOMsZ or at https://SarahWestall.com/shop Remove Heavy Metals including Graphene Oxide and Plastics at https://masterpeacebyhcs.com/?ref=11308 Learn more how you can convert your IRA or buy precious metals by emailing info@MilesFranklin.com - tell them ‘Sarah sent me” and get the best service and prices in the country. Consider subscribing: Follow on Twitter @Sarah_Westall Follow on my Substack at SarahWestall.Substack.com See Important Proven Solutions to Keep Your from getting sick even if you had the mRNA Shot - Dr. Nieusma MUSIC CREDITS: “In Epic World” by Valentina Gribanova, licensed for broad internet media use, including video and audio See on Bastyon | Bitchute | Brighteon | Clouthub | Odysee | Rumble | Youtube | Tube.Freedom.Buzz Reggie Middleton Biography
In this episode, I am examining and reacting to a conversation at the Black BlockChain Conference between Reggie Middleton and Dr. Jared Ball about the best way for the Black community to achieve Black Wealth. Tune in to hear more.
This is a rebroadcast of our recent Twitter Spaces conversation on banking, metals, trust, cryptocurrencies and the faltering global dollar system. Bob discusses the problems in the banking system and the tough position the Fed is between preserving the system and preventing inflation. They're trying to slow the contagion, but we may be experiencing a false sense of security. If things break from here, we could see things get out of control. The belief is the Fed will always have our back, but in today's world there is considerable risk. Reggie Middleton expresses his concerns around the SEC's use of selective enforcement, particularly in the crypto space. There is a length discussion on building trust in digital assets and potential risks with some types of cryptocurrencies. Jaime and David discuss the usefulness of both Gold and Bitcoin. We need both systems if we are to get through the coming financial reset. It will be important to have investments in various areas because it remains uncertain what the future financial system will be based on. David argues that a bi-metallic standard may once again become important. Bob Coleman - Idaho Armored VaultTwitter: https://twitter.com/profitsplusidWebsite: https://www.goldsilvervault.com/ Jaime Carrasco - Portfolio Manager at Canaccord Genuity IncTwitter: https://twitter.com/IJCarrascoLinkedIn: https://www.linkedin.com/in/carrasco1/Website: Canaccord Genuity https://www.canaccordgenuity.com/ David Morgan - Morgan ReportWebsite: https://silver-investor.com/Twitter: https://twitter.com/silverguru22Blog: https://www.themorganreport.com/blog Jim Hunter - Registered Commodity Broker with AllendaleTwitter: https://twitter.com/JimSuncomm1Website: https://allendale-inc.com Reggie MiddletonTwitter: https://twitter.com/ReggieMiddleton
Reggie Middleton DeFi patent part 3. Decentralized finance cryptocurrency Blockchain crypto technology investment banking technology audio podcast Corey Chambers Los Angeles
Reggie Middleton DeFi patent part two. Audio podcast Corey Chambers Los Angeles
Reggie Middleton DeFi patent Blockchain crypto technology value audio podcast Corey Chambers Los Angeles
1004 | TGOC Business Inquiries: krbe@krbecrypto.com ——————————————————————————— **This is not financial advice. The expressed opinions in the video are of the speakers. You can lose all your money in the cryptocurrency market, so be sure to do your own research before investing.**The Gentleman of Crypto is a daily live broadcast that explores Bitcoin and cryptocurrency market. We discuss international topics, news updates, and future innovations in blockchain, digital currencies and assets, fintech, and more.
In this episode of the DeFi Download, Piers Ridyard and Reggie Middleton debate the concept of patents and how they fit into the ethos of open source in the world of DeFi. Reggie Middleton is Disruptor in Chief, 2013 founder of DeFi, holding active patents in bothJapan and the USA. He is also a predictor of booms and busts and an inventor of P2P capital markets and self-sovereign finance. [00:43] Reggie talks about his background in investment and projects he has been involved with, such as UltraCoin[10:20] Reggie's reasons and the process for filing his first patent in 2014 [13:26] Open-source software is designed around the concept of giving away ideas as the fastest way to build human innovation and is one of the greatest pieces of human cooperation that ever has existed. Are patents antithetical to the ethos of open source?[16:24] What exactly is intellectual property?[20:19] Is the concept of ownership of something tangible and separable the same as the concept of ownership of an idea?[21:07] Intellectual property as legal fiction and patent law jurisdictional discrepancies[31:47] Reasons why people dislike patents[38:30] The moral divide: charging rent to those who have independently developed an idea and established it into a business.[41:45] Multiple people can own an idea or come up with an idea independently.[45:44] The patent test: demonstrating that the idea is innovative enough to support the patent's validity.[47:29] The monetary incentive of owning a patent versus open-source and free exchange of ideas, which results in faster innovation[56:33] Someone using someone else's idea; could they have done it without knowing about that person's idea?Further resourcesTwitter: @ReggieMiddleton
In our roundtable discussion Jessie, Dee, and Corey talked about consensus mechanisms and patents. Reggie Middleton is our Guest of DeFi and Veritaseum fame.Social Media Of VertaseumWebsite: https://veritas.veritaseum.com/YouTube: https://www.youtube.com/c/ReggieMiddleton-the-Financial-NostradamusTwitter:https://twitter.com/VeritaseumincTelegram: https://t.me/joinchat/G_22OhA7UgN6b-7hTSFSTAReggie MiddletonTwitter: https://twitter.com/ReggieMiddletonThe Bitcoin Podcast Social MediaJoin-Slack: https://launchpass.com/thebitcoinpodcastPatreon:https://www.patreon.com/TheBitcoinPodcastNetworkWebsite: http://thebitcoinpodcast.com/Twitter: https://twitter.com/thebtcpodcastDADDAO: https://daddao.org/
Megen Middleton father of DEFI decentralized finance audio podcast by Corey Chambers Los Angeles
#Imaginationland #Cryptoganda #SouthParkSHOW NOTES:(0:00) Intro and Vaccination Argument(18:00) Imaginationland and The Death of Radical PoliticsRobert Malone goes full anti-science on Joe Rogan's podcasthttps://youtu.be/xjszVOfG_woIs Crypto The Missing KEY to Afrikan Liberation? (Debate w Reggie Middleton)https://youtu.be/ANrmhTwvw28Super Position by David Graeberhttps://thenewinquiry.com/super-position/Cryptogandahttps://youtube.com/playlist?list=PLLvFbqpO8vs1lfAKT3BkdnbN_wSySWJ9y ★ Support this podcast on Patreon ★
Reggie Middleton is the creator of Veritaseum and owns extremely powerful DEFI patents. Subscribe to #NinjaNation: https://economicninja.org
If VERI token retraces, take a look at it. Subscribe to #NinjaNation https://economicninja.org
★ Support this podcast on Patreon ★
Reggie Middleton is an investor and expert in the fields of DeFi (decentralized finance) and cryptocurrency. He made his name by investing in the real estate market in the early 2000s and then shorting much...
Is the silver market really manipulated? Reggie Middleton of Veritaseum, who forecast Bear Stearns collapse in advance joins me on the show to discuss. To find out more, click to listen now!
Aired On: Oct 26, 2019 This is the third appearance of Dr. Jim Willie on for a Kickin' It Session and we talk about the Repo Market turmoil and which bank is actually the catalyst of it, QE4 and it's permanency, the difference between shadow banking and derivatives markets and we debate whether or not Bitcoin is cash or is an asset, and lastly his affinity towards blockchain over crypto currencies. We also touch briefly on Veritaseum and Reggie Middleton's SEC case of fraud and his thoughts on the outcome of it. Visit The Golden Jackass Website: https://www.golden-jackass.com/ Donate to Jim Willie to help with his needs in Costa Rica: https://www.golden-jackass.com/donate --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/crypto-blood/support
THE REGGIE MIDDLETON EPISODE : CAME FROM NOTHIN by MORE THAN THE MASTERS
In this RTD Q&A returning guest, Reggie Middleton & Crypto Blood, joins me for a round-table discussion on the current state of the global economy. Now that the Coronavirus pandemic has spread throughout the world it is becoming more obvious that our economy is in big trouble. Quantitative Easing will be the catalyst that eventually breaks confidence in the current monetary system.
#ReggieMiddleton: Warned On #BearStearns, Now Sees This While most in the financial markets were blindsided by the failures of Bear Stears, #LehmanBrothers, and the mortgage market, there were a few analysts who warned about it in advance. Reggie Middleton of #Veritaseum is one of them, and after getting it right the last time, you'll definitely want to hear what he's seeing in the markets now. Fortunately he joined me on the show to discuss exactly that, so to discover what he had to say, click to watch the interview now! - To find out more about Reggie's work with Veritaseum go to: https://dapp.veritaseum.com/ - Interview by #ChrisMarcus of #ArcadiaEconomics on February 25, 2020: https://arcadiaeconomics.com/ - Click here to subscribe to Arcadia's Youtube channel: http://bit.ly/2t1HKOj - To pre-order Chris' upcoming book “#TheBigSilverShort” go to: https://arcadiaeconomics.com/the-big-silver-short/ - To contact Chris Marcus go to: https://arcadiaeconomics.com/getting-help/ - Follow Arcadia Economics on Twitter: https://twitter.com/ArcadiaEconomic - Arcadia's Facebook page https://www.facebook.com/ArcadiaEconomics/Subscribe to Arcadia Economics on Soundwise
Today's blockchain and cryptocurrency headlines Bitcoin is down 2% at $9,170 XRP is down 1% at 29 cents and Ethereum is up 1.5% at $181 Top gainers in the last 24 hours: Vertcoin up 22% Dentacoin, up 15% Veritaseum founder Reggie Middleton entered into a settlement deal with the SEC agreeing to pay $10 Million and take a lifetime ban on issuing digital assets. The exchange Luno is resuming its services in Singapore. Locha Mesh a Venezuelean based mesh networking startup is currently looking for investors and donors. Accounting and consulting firm Armanino launched a blockchain based tool promising firm-originated financial audits in seconds.
https://ToneVays.com by @ToneVays https://twitter.com/ToneVaysTrading Alerts for Sequential (Free till Sep): https://t.me/joinchat/AAAAAE4Hy84LAsx...For Serious Traders & Investors: https://thefinancialsummit.com/Disclaimer: Nothing said on this law show should be interpreted as Legal Advice!Topic 1: Tether/Bitfinex lack of Jurisdiction Claim Denied:https://www.coindesk.com/new-york-sup...https://www.theblockcrypto.com/2019/0...Old Linkshttps://www.coindesk.com/bitfinex-ny-...https://iapps.courts.state.ny.us/fbem...https://breakermag.com/crypto-capital...https://decrypt.co/6824/crypto-capita...Topic 2: SEC vs Reggie Middleton of Veritaseumhttps://www.sec.gov/news/press-releas...https://www.theblockcrypto.com/2019/0...https://www.coindesk.com/blockchain-f...https://twitter.com/propelforward/sta...https://twitter.com/propelforward/sta...Subtopic: SEC vs Simply Vital Health Inc Settlement for 6.3Mhttps://www.sec.gov/enforce/33-10671-shttps://www.coindesk.com/blockchain-f...Topic 3: Is Ripple a Security:https://www.xrpchat.com/topic/26151-r...https://www.coindesk.com/investors-su...https://www.theblockcrypto.com/2019/0...https://static.coindesk.com/wp-conten...https://www.forbes.com/sites/billybam...https://twitter.com/stephendpalley/st...https://images.law.com/contrib/conten...https://www.theblockcrypto.com/2018/1...The Block's Deleted Twitter Thread, Use Archive.is:https://twitter.com/mdudas/status/106...Time Permitting: US Housing Foundation vs Forman (1975)https://supreme.justia.com/cases/fede...Other:https://www.coindesk.com/fincen-direc...https://www.coindesk.com/it-took-18-m...Honorable Mention:https://www.sec.gov/corpfin/framework...https://www.sec.gov/news/speech/speec...Closing Moment of Zen:https://twitter.com/Horsebox_1/status...Please Support via Affiliate Codes:eToro Affiliate for US persons:http://partners.etoro.com/B11515_A801...eToro Affiliate for Non-US Personshttp://partners.etoro.com/B10521_A800...Unlimited Trading for $9 a Month at LVL: https://lvl.co/?r=kDpHhBmSDeribit to save 10% on Trading: https://www.deribit.com/reg-3221.4686Buy/Sell Bitcoin at Paxful: https://paxful.com/?r=or4dNEDBBQXTrading View: http://tradingview.go2cloud.org/aff_c...TorGuard VPN 50% off code & link = tone50: https://torguard.net/aff.php?aff=3782Ugly's Lifetime Subscription: https://uglyoldgoat.com/?rid=4xyuzuAudio Podcast:https://itunes.apple.com/us/podcast/t...See Regulation overview in each state here:https://www.carltonfields.com/state-r...Tone Vays is available for Corporate Consulting at the rate of 0.3 btc per hour. Please email Tone@protonmail.ch for additional info.
Blue Alpine Cast - Kryptowährung, News und Analysen (Bitcoin, Ethereum und co)
Jetzt Podcast abonnieren: iOS: http://bit.ly/blue-alpine-cast Android: http://bit.ly/blue-alpine-cast-android ——————————— Für mehr Analysen, Nachrichten und Tipps zum Krypto Investieren, hier abonnieren: http://bit.ly/blue-alpine-de ——————————— In der heutigen Folge sprechen wir über: SEC Börsenkommission ist hinter Veritaseum und Reggie Middleton her, was das für euch und die ICO Welt bedeutet Barclays und Coinbase haben ihre Partnerschaft aufgelöst, aber wieso? Cardano Gründer Charles Hoskinson kündet Cardano 1.6 und neues Projekt an
Subscribe to Arcadia's channel now to stay ahead of Wall Street! http://bit.ly/2t1HKOj While many are lamenting the recent declines in the #cryptocurrency market, for those who still believe in the sector, many cryptos are trading at a fraction of their previous highs. Including #Veritaseum, which is one of my own favorites. And in today's video I explain why I have a bid in to buy more. And if you're just hearing about the VERI token for the first time, you'll also want to check out this interview with Veritaseum founder Reggie Middleton. https://www.youtube.com/watch?time_continue=220&v=qb7k6n0_4nw - For more help understanding the markets or to talk with Chris visit: http://arcadiaeconomics.com/ - Subscribe to Arcadia's channel now to stay ahead of Wall Street! http://bit.ly/2t1HKOjSubscribe to Arcadia Economics on Soundwise
Veritaseum builds blockchain-based, peer-to-peer capital markets as software on a global scale. The software enables the connection of parties and assets without the need for a third party. Founder & CEO Reggie Middleton discusses the benefits of a peer-to-peer economy, what caused the founding of Veritaseum, and why there is no such thing as a business idea that's “too ambitious”. He also discusses upcoming announcements from his company and the company's plans involving 54 African countries.
sources of stories from today: https://www.one-tab.com/page/Ab0IWJi6SUOKOMnLJ7Usig ↓↓↓timestamps↓↓↓ 1:45 - Dino of the Day 8:57 - China's Central Bank Email Hacked, Message Claims Cryptocurrency Ban 11:05 - Singapore Confirms It Will Not ‘Ban' Cryptocurrency, Has No ‘Risk Concerns' 13:38 - RE: SEC/CFTC Hearing 18:41 - Viewer Question: With money laundering happening in a dark space, how do we know it's only 1%? 20:18 - Forbes Publishes ‘First-Ever' Richest People In Cryptocurrency List 26:45 - Viewer Question: How do we feel about Reggie Middleton and Veritaseum? 27:53 - Grayscale Launches Fund for Top Cryptos If you want more, connect with us online at the following places: Website: https://krbecrypto.com/ Shop: https://shopkrbecrypto.com/ Services: https://krbecrypto.com/services/ About Us: https://krbecrypto.com/about/ Subscribe to our YouTube: https://www.youtube.com/krbecrypto KRBE Twitter: https://twitter.com/krbecrypto KRBE Facebook: https://www.facebook.com/krbecrypto/ KRBE Instagram: https://www.instagram.com/krbecrypto/ King Twitter: https://twitter.com/KingBlessDotCom Bitcoin Zay Twitter: https://twitter.com/bitcoinzay Business Inquiries: krbe@krbecrypto.com Donations Welcome: Bitcoin: 1NTnWaGowHEh9VRWMXWTiqWpQT9vjP5Ukd Litecoin: LSc2bEAMEbGSHKx54GUt4xi1eZQqtscv8i Thanks for listening and remember to subscribe for daily content where we give away free Bitcoin!
Subscribe to our channel for important financial market updates now! http://bit.ly/2t1HKOj How To Decide If Bitcoin Is A Bubble One of the biggest stories in the financial markets in 2017 has been the skyrocketing price of crypto currency Bitcoin. Beginning the year right around the $1,000 mark, Bitcoin soared to $3000 earlier this year before pulling back. Now in the past few weeks bitcoin has gone from $1900 on July 16 to over $4300 per coin this morning, August 14, 2017. This is a stunning rise and level of volatility for a currency. Yes, Bitcoin isn't your standard paper currency like the dollar or the Yen, although perhaps that's one of its biggest advantages. In either case it's stunning to see any commonly traded asset experience this kind of price movement. Of course one of the main questions many wonder, is if we are witnessing a bubble that's about to implode. There are interesting points to both sides of the debate, although rather than try to convince you of either view, instead here are a few things that might help you better form your own opinion. At the very least I found them helpful as I continue to think about what's likely to happen next. 1) Do you already understand what a Bitcoin is and have experience using it? I find that many of the naysayers of Bitcoin often don't understand the cryptos, what they are able to do, and why the crypto community seems so passionate about their currency. At some point, at least hear the opinion of someone who understands and actually uses one. It's not the easiest concept to grasp, but that isn't a reason to discount it. In either case learning more about what a crypto actually is before deciding if it's a bubble can be a good first step. 2) What do you expect to happen to currencies like the dollar? If the dollar fractured tomorrow, whether Bitcoin is perfect or not it's likely that people would be flocking to the crypto market to get any remaining value available for their dollars. If you think the dollar market is sustainable and don't foresee any cause for concern, that lessens the attractiveness of the Bitcoin investment profile. 3) How many people do you think actually own a Bitcoin? Traditionally one of the common traits of a bubble is that a lot of people own the asset and there are no sellers. Yet how many people on an average high traffic street do you think actually own a Bitcoin. 1 out of 100? 1 out of 250? More? Less? Yes, there appear to be some larger money flows going into the cryptos over the past few months, but there's still not that much actual ownership among the public. 4) Do some of the cryptos have a backing? Andrew Maguire is developing Bullion Coin, a gold backed crypto. Reggie Middleton has developed Veritasium, that's in a sense backed by the value it can offer to large system infrastructures. So even if you don't see much value in cryptos as pure currency, there are other reasons people are getting involved. Personally I continue to believe that the cryptos are going to play an increasing role in our future. Especially as the borrowing and printing nears its breakpoint, I do think we'll see continued price escalation in the cryptos. However what can help you make your own decision is considering questions like these as well as what you come up with on your own, and then making the decision that feels right to you. - For more help understanding the markets or to talk with Chris visit: http://arcadiaeconomics.com/ - Subscribe to Arcadia Economics Youtube Channel: http://bit.ly/2t1HKOjSubscribe to Arcadia Economics on Soundwise
Reggie Middleton comes to us Live in his latest Technology innovation called Veritaseum. Get your Veritas and get the knowledge you need to make the correct investments.
Reggie Middleton introduces himself to Core Radio for the first time. Telling us about the an behind the genius.
Reggie Middleton discusses the Ultra Coin project for distributed and fully collateralized contracts for difference that settle in Bitcoin.
Bitcoin – an emerging peer-to-peer payment system, platform, and cryptocurrency – is taking the world by storm. Reggie Middleton joins us with Andreas Antonopolous, Dave Scotese, and Sam Guzik to crystallize our undertanding of Bitcoin, Crowdfunding, and “The Future of Money”.
Max Keiser and Stacy Herbert discuss the big picture of bank holidays and wealth confiscation in order to pay off the $100-trillion-error account banksters basically admitted to having at Davos in 2011. In the second half of the show, Max talks to Reggie Middleton of BoomBustBlog.com about Cyprus, the rules that have been revealed and his upcoming special investigation on certain European banks he’s discovered have been committing fraud. Keiser Report 3-21-13Enjoy this podcast? Bandwidth doesn't pay for itself. Help keep this podcast going with a bitcoin donation to: 19a51xGrb8rMMdbJEyvsJW7L7trzdZswur or simply scan the QR code!This content was provided by www.rt.comhttp://rt.com/shows/keiser-report/Subscribe on youtube at https://www.youtube.com/user/MaxKeiserTV
Investment maverick Reggie Middleton, the owner of the Boom Bust Blog, goes deep inside the inner workings of modern-day bank runs, free markets, securitized instruments, Google and Apple's business models, and shares his take on the state of the US economy, Germany and the German bond market, what's next in France, and the real state of China's economy.
BoomBustBlog author and entrepreneurial investor Reggie Middleton on the eurozone: "In order for any economic progress to be made, the debt needs to be destroyed."