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

a reply to: Metallicus

Plus, I don't have to worry about it as I already know what will happen in that situation.

Do tell...?

a reply to: infolurker


Some good source material there, infolurker!

A quote from the linked Guardian article, from Helen Clark, former PM pf New Zealand, and a current chair of the UN Development Group:

The panellists were scathing about politicians, Wallis describing them as people who held up wet fingers “to see which way the money is blowing in from.”

I don't really know how to take that coming from a woman who was a politician in NZ from 1975 until 2008... and I don't know much about NZ politics, so I won't wager a guess. Would be interesting to hear from any NZ ATS members on that...

The gist of the article is that global inequality is rapidly moving to the top of the agenda at the World Economic Forum, and love that organization or hate it, they do have a pulse on large cultural phenomena that have economic impact.

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.

Dude. Those that have will totally be flocking to overstock looking for that pair of pants and a new bookshelf when that day comes. They'll be all like "well I didn't buy this before today but now....now seems like a good time. Not sure how they'll be delivered to me, but today seems like a day to buy some steeply discounted pants."

Duh.

originally posted by: mazzroth
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.

"Never will be..."

That's a staatement made by someone who did not feel the reality of the Great Depression. Or was that a hoax too?

a reply to: Metallicus

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.

Ditto that. The rich can hide in their bunkers. I would rather be one of the lucky ones to parish instead of living in a hole for months and than emerging to a scorched earth or a life of anarchy. Their money and gold will be worthless because the system will be broken.

originally posted by: infolurker
a reply to: DelMarvel

www.zerohedge.com...

www.zerohedge.com...

www.dailymail.co.uk...

www.theguardian.com...

www.businessinsider.com...

Thanks. Interesting. But from my jaded perspective:

The one article is about buying cheap tracts of land in Africa to develop.

All the articles about hedge fund managers going to New Zealand go back to one source and I can't find anything else about it.

As for the old nuclear bunker ( which is apparently being advertised) what kind of doom besides outright nuclear war would send you into a hardened bunker that only has a year's worth of provisions?

There very well could be another financial crisis due. I've read some things that seem reliable. But as Mazzroth says there's an entire cottage industry of people constantly crying wolf.

Seems simple on the face of it, Mormons store/squirrel by default, presumably in the White Mountains tunnelling, though I'm not so sure that the excavations are all that big overall, but it does house the database of names of "Everybody that ever lived"....Well, that is the intention, to save their souls, dead or alive. This looks to me like an extension of the Meme.

I'd guess that the CEO is heavily invested in gold sellers and companies that cater to the survivalist crowd.

The announcement is just advertising.

a reply to: DelMarvel
Of course there are people out there looking to make a profit on a crisis. It is up to the individual to be responsible enough to do the research and figure out a plan for the day the crisis comes along.
Again, a "financial crisis" does not automatically translate to the end of the world as we know it. Being prepared is what will get you through the crisis. If there are enough folks who are prepared the crisis never turns into the Apocalypse.

Bear in mind, Overstock was one of, if not the first, large retailer to embrace BitCoin. It seems like there may be an existing bias or predisposition for "fringe" thinking, if not manipulation of the BitCoin currency, by grandstanding on yesterday's news.

a reply to: diggindirt

If an actual "end of the world as we know it" comes ... gold and food stockpiles will be worthless.

Anything less than that is what we've always dealt with and will continue to deal with.

Doom porn is a billion-dollar industry; that's all the OP is about, essentially.

yep, the next one may be special though, huh!
the U S is expanding economically.....this time but globally......uh, ohh

a reply to: AugustusMasonicus

That's always been a question of mine too!

Didn't know before today that in Utah, banks that are members of the UPMA do offer gold and silver-backed accounts. People mail or drop off a gold dollar coin at the bank and get $50.00 of value in their account. Can get a debit card against that account. The UPMA also has an arrangement with a metals refiner, and will take gold and silver objects (tea services, jewelry, etc), have the metal refined and credit your account with the value based on the spot price of that metal on that business day.

Pair that with the food supply Overstock has gathered for their employee base. they should weather better than many.

The tenets of the Mormon faith apparently dictate preparedness, which is why Utah is a "special arrangement" where they can offer commodity-backed accounts (as long as we're talking Gold-dollars, Silver-dollars, or Platinum dollars.

originally posted by: AugustusMasonicus

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?

Because it would be a manufactured collapse like everything else.

originally posted by: CantStandIt
Didn't know before today that in Utah, banks that are members of the UPMA do offer gold and silver-backed accounts. People mail or drop off a gold dollar coin at the bank and get $50.00 of value in their account.

And in a global calamity where currency is no longer able to purchase necessities what good is gold? What is your gold actually worth at that point?

originally posted by: proob4

Because it would be a manufactured collapse like everything else.

That did not address my post at all.

So it is manufactured? It still happened and it still would affect Overstock and their go-to-market strategy.

a reply to: diggindirt

I can't disagree. However, I think there's a difference between something like getting out of the stock market in 2007 and stockpiling precious metals.

I've been reading dire warnings since the seventies about buying gold and silver because paper currency was about to collapse. So, I find it hard to get worked up about it anymore.

originally posted by: AugustusMasonicus

originally posted by: CantStandIt
Didn't know before today that in Utah, banks that are members of the UPMA do offer gold and silver-backed accounts. People mail or drop off a gold dollar coin at the bank and get $50.00 of value in their account.

And in a global calamity where currency is no longer able to purchase necessities what good is gold? What is your gold actually worth at that point?

Cause fools will think it's equity and will believe that all will bounce back and they will be the front runners of wealth.

originally posted by: proob4

Cause fools will think it's equity and will believe that all will bounce back and they will be the front runners of wealth.

So the Overstock employees are going to be the 'front runners of wealth'? Whatever that means.

originally posted by: AugustusMasonicus

originally posted by: proob4

Because it would be a manufactured collapse like everything else.

That did not address my post at all.

So it is manufactured? It still happened and it still would affect Overstock and their go-to-market strategy.

There is something always with you? Either you do not get things or you are the disposition and part of the problem. It's always a argument with you about anything. Get with it already!