#OtD 16 Jan 1997 saw the collapse of huge pyramid schemes in #Albania leading to the toppling of the government. Hundreds of thousands lost life savings and family homes; in response, workers demanded the government reimburse them https://stories.workingclasshistory.com/article/8786/albanian-financial-crisis
@workingclasshistory For some reason this toot about recent #history of #ponzi #economics in #Europe reminds me what Warren Buffett said: “ #Bitcoin (and other #crypto currencies) is like rat poison squared.” ✅
![A Twitter post by Pat Dennis ([@]patdennis) that reads: "Sick of people calling everything in crypto a Ponzi scheme. Some crypto projects are pump and dump schemes, while others are pyramid schemes. Others are just standard issue fraud. Others are just middlemen skimming off the top. Stop glossing over the diversity in the industry." The post was tweeted at 1:05 PM on April 25th, 2022, and has 13.1K retweets and 437 quote tweets. A small profile picture of Pat Dennis is visible in the upper left corner.
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