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I’m beginning to wonder if it’s time to start feeling sorry for Patrick Byrne, the Overstock (NASDAQ:OSTK) CEO whose comments at times, such as Tuesday's, appear to be detached from any sense of reality.

Speaking on the Fox Business Channel to my friend Liz Claman, he said:

I think that there’s been an unhealthy collusion developed between certain short sellers and certain journalists. They center around your competitor, CNBC. I happen to know for a fact that there’s a fax machine in the CNBC offices where every morning hedge machines, I mean hedge funds send instructions and journalists sit around and take instructions.

Liz quickly responded:

Well I worked in CNBC and I never saw that fax machine.

Of course she didn’t, because there is no such fax machine!

Byrne, you may recall, made similar allegations against Gradient Analytics, which recently filed a counter-suit to Overstock, alleging libel.

What’s next, black helicopters?

The beat goes on….

Source: Overstock.com: Patrick Byrne's Tenuous Grasp of Reality