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Overstock CEO: "Modern Financial System Is A Big Keynesian, Magic Money Tree Ponzi Scheme"

• https://www.zerohedge.com, by Tyler Durden

In a recent interview with crypto YouTuber Naomi Brockwell, a New York-based YouTube channel focused on all things Blockchain, Byrne pointed out countries like Venezuela, where crypto adoption has already flourished, should demonstrate what is coming to the developed world.

"People turn to it where they collapse, like Venezuela or Cyprus or Syria, something like that. When people start getting into it is when their own financial systems collapse.

So yes, given that I think the entire modern financial system is a big Keynesian, magic money tree ponzi scheme, I do expect that the day will come when people turn to crypto. 

Now, whether Bitcoin is the one, whether Bitcoin has solved its speed problems or it's another cryptocurrency, only time will tell," said Byrne. 

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