Overstock Holds 3 Months Of Food, $10 Million In Gold For Employees In Preparation For Collapse

Now this is interesting. The CEO of overstock.com is preparing to pay his employees with gold if needed and has stockpiled a 3 month supply of food for them. Most of us know that many billionaires recently have bought enclaves in the Southern Hemisphere and or bought luxury accommodations in the Vivos Survival Bunkers. Celebrities like Tom Cruise built their own underground fortresses and retreats.

Good to see someone is looking out for their employees, at least a bit. But it does cause one to wonder how "Really Bad" it is and how close to the edge are we?

www.zerohedge.com...

What did Johnson tell the UPMA? Here are some choice quotes:

We are not big fans of Wall Street and we don't trust them. We foresaw the financial crisis, we fought against the financial crisis that happened in 2008; we don't trust the banks still and we foresee that with QE3, and QE4 and QE n that at some point there is going to be another significant financial crisis.

So what do we do as a business so that we would be prepared when that happens. One thing that we do that is fairly unique: we have about $10 million in gold, mostly the small button-sized coins, that we keep outside of the banking system. We expect that when there is a financial crisis there will be a banking holiday. I don't know if it will be 2 days, or 2 weeks, or 2 months. We have $10 million in gold and silver in denominations small enough that we can use for payroll. We want to be able to keep our employees paid, safe and our site up and running during a financial crisis.
We also happen to have three months of food supply for every employee that we can live on.


(This) takes advantage of Utah's special status allowing the it to use gold as legal tender, offering gold and silver-backed accounts. As a reminder, the UPMA takes Federal Reserve Notes (or paper dollars) which it then translates into golden dollars (or silver). The golden dollars are based off the $50 one ounce gold coins produced by the Treasury of The United States. They are legal tender under the law and are protected as such.

a reply to: infolurker

Why in the world would anyone be buying things at Overstock.com during a global calamity resulting in him having to pay their employees?

a reply to: AugustusMasonicus

No idea. Maybe just an medium economic crash or maybe he has a plan to last gasp anything valuable somewhere else?

if there is a bank holiday for 2 months how are people going to buy anything on the internet?
it`s not like people are going to mail $100 in gold coins to overstock.com to purchase something..

I suspect that 10 million in gold and the food that they have stockpiled is actually for the ceo and other bigwigs in the company. when times get tough they will take the gold and food and hightail it to their retreat in south America.

originally posted by: AugustusMasonicus
a reply to: infolurker

Why in the world would anyone be buying things at Overstock.com during a global calamity resulting in him having to pay their employees?

The one's who have still have to have.The have not's will be the one's who have nothing and no way to purchase anything.

a reply to: infolurker

Scientologist Tom Cruise and his underground fortress as an affirmation of some calamity happening in the future? I'm relieved.

Overstock has both food and gold on hand for its employees in the event of a "collapse?" What good hearted corporate people.

Call me cynical.

We're definitely close to collapse—or something—when we look at what Tom and the CEO of overstock is doing for a prediction.

originally posted by: proob4

The one's who have still have to have.

Yeah, that makes total sense, buying items during a global collapse from a website that specializes in products that need to be sold at a discount because they did not sell out the first time they were issued.

I don't plan to survive a collapse and/or calamity. It is a much cheaper alternative to spending all that money on food, bunkers, medicines etc. Plus, I don't have to worry about it as I already know what will happen in that situation.

originally posted by: Tardacus
if there is a bank holiday for 2 months how are people going to buy anything on the internet?
it`s not like people are going to mail $100 in gold coins to overstock.com to purchase something..

I suspect that 10 million in gold and the food that they have stockpiled is actually for the ceo and other bigwigs in the company. when times get tough they will take the gold and food and hightail it to their retreat in south America.

I suspect that the people that have platinum plastic cards with unlimited credit will still function fine and all of the serfs will be the one's cut off.

originally posted by: AugustusMasonicus

originally posted by: proob4

The one's who have still have to have.

Yeah, that makes total sense, buying items during a global collapse from a website that specializes in products that need to be sold at a discount because they did not sell out the first time they were issued.

Wealthy people buy cheap stuff too. That's why they are wealthy cause they are cheap penny pinchers.

Nothing is going to happen, for those who are new to this "Doom" game its all about money. Sew fear of a systemic collapse and sell products to those who buy into the hoax. There is no collapse and never will be, there may be times of upheaval but it will never eventuate into total collapse as the "Powers that be" wish to hang onto their power.

I have been following this "Doom Porn" since 85 when the "Nostradamus End of the World" in 1989 was going around, soon as the date expires the hoaxers have already set up the fall back date so they can push that one and then the next and so on.

Repeat this is all about selling products to those who fall for the scam.

a reply to: Liquesence

I am not sure if you are informed:

www.zerohedge.com...

www.theguardian.com...

www.mirror.co.uk...

a reply to: infolurker

What's your source on the billionaires recently buying enclaves in South America and space in bunkers? Not saying it's not true but I've heard stories like this for years in connection with predictions of imminent doom.

As for Johnson, he's a Mormon and it's an LDS requirement to keep a large stockpile of food so he might have an instilled fear of apocalypse which colors his judgement.

And off topic I suppose if the story is accurate but Zerohedge is a real chicken little site.

originally posted by: proob4

Wealthy people buy cheap stuff too. That's why they are wealthy cause they are cheap penny pinchers.

Not the point I am making. If the world just went to hell why would anyone go to a website specializes in discount products, purchase items and then expect them to show up at some preordained time? Somehow Overstock and the infrastructure they use to distribute their wares are going to be unaffected by the same calamity which impacted everyone else?

a reply to: DelMarvel

www.zerohedge.com...

www.zerohedge.com...

www.dailymail.co.uk...

www.theguardian.com...

www.businessinsider.com...

a reply to: infolurker

Wasn't the "story" about Cruise's bunker "broken" by the national enquirer?

Seems legit.

I lived during the fall-out shelter craziness in the 50's and 60's. Some of my friends families had them, and I had been in a few.

In any calamity: war, geological upheaval, asteroid or collapse of government and the financial system..... the real enemy will ultimately become people themselves. The strong and organized will take your shelter, gold and your food and most likely your lives. By having such luxuries in upheaval like this, it is just a band-aid on an infection that will ultimately kill you.

I would think that smart people like those that run Overstock, would understand that.

As far as calamity that would be caused by humanity, the only real solution is to get to the root cause and prevent it before it happens.

Sounds like a pretty prudent move to me.
Why do people automatically jump from "financial crisis" to world financial collapse/total apocalypse?
Those who saw the market bubble about to burst in '07 and prepared for what they imagined could be coming didn't suffer when it hit. Those who laughed at the "preppers" back then sobered up a bit when their house lost a third of its value but their mortgage payments remained the same.
Those who took the time to study a bit and listen to smart people and got their money out of the stock market didn't take the tremendous losses that others suffered.
As a result of taking precautions we felt needful, we were mocked in '07 by members of our family who chose to listen to the advice of bankers and broke people. By '09 they were broke people, underwater on the house by over $100k and up to half of their retirement funds gone like yesterday's wind.
Precisely because we had made prudent decisions we were able to help them weather the crisis and learn the lessons we had tried (unsuccessfully) to instill at a much earlier age.

I'm still trying to figure out how being prepared for the inevitable is considered less than intelligent? A quote from Ben Franklin along the lines of, "By failing to prepare, you are preparing to fail." pretty much sums it up for me.

a reply to: AugustusMasonicus

Maybe he intends to pay them for a short time even if there is no work to come to...? Not unheard of, some employers who wanted to keep good employees after Hurricane Sandy did similar... just not in gold bullion... that aspect is unique!

originally posted by: CantStandIt
Maybe he intends to pay them for a short time even if there is no work to come to...? Not unheard of, some employers who wanted to keep good employees after Hurricane Sandy did similar... just not in gold bullion... that aspect is unique!

In a world were currency becomes useless what good is gold? You cannot eat it.