Major retailer stashes food, gold for 'doomsday'
Oct 28, 2015 5:26:27 GMT -6
Nugget, Mystic Wanderer, and 2 more like this
Post by Rickster on Oct 28, 2015 5:26:27 GMT -6
SOURCE:
It is surprising to announce this by a major retailer. They are preparing and so should we. The biggest surprise is they are keeping the gold out of the banking system. hmmmm... What inside information do they have, it is something with recent changes in the law that makes sense. They will seize funds when they need it just like they did in Greece, and Overstock knows it.
This should be interesting to test, my experience in the past shows testing, and verification of metal before value is established. But it is a interesting idea, we will have to wait and see how it spends at the supermarket, and keeps utilities going.
Finally someone is putting themselves back on a gold standard, something our government should have never stopped. If the crook Nixon had never taken us off the gold standard we wouldn't have the financial problems we have today. You can't put money in circulation that isn't back by your gold reserve. Now we print whatever we want and suffer through the crashes as the markets manipulate the system, with things like dark pools, and high frequency trading.
"The chairman of the American online retailer Overstock, Jonathan Johnson – who’s also running for governor of Utah – said his company is so sure a financial collapse is on the way, the firm’s leading executives have accumulated and set aside about $10 million in gold and silver coins to cover the costs of payroll and keep both employees and operations in the black.
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It is surprising to announce this by a major retailer. They are preparing and so should we. The biggest surprise is they are keeping the gold out of the banking system. hmmmm... What inside information do they have, it is something with recent changes in the law that makes sense. They will seize funds when they need it just like they did in Greece, and Overstock knows it.
"At a recent United Precious Metals Association conference, Johnson explained how Overstock is taking advantage of Utah’s laws that allow it to use gold as a legal tender, via coins based off the one ounce gold coins issued by the Treasury Department.
He said, Zero Hedge reported: “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 [quantitative easing] and QE4 and QE [upcoming], that at some point there is going to be another significant financial crisis.”
He said, Zero Hedge reported: “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 [quantitative easing] and QE4 and QE [upcoming], that at some point there is going to be another significant financial crisis.”
This should be interesting to test, my experience in the past shows testing, and verification of metal before value is established. But it is a interesting idea, we will have to wait and see how it spends at the supermarket, and keeps utilities going.
“We would be prepared when that happens,” he said. “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 two days, or two weeks or two months. We have $10 million in gold and silver in denominations small enough that we can use for payroll.”
The aim, he said, is to “be able to keep our employees paid, safe and our site up and running during a financial crisis,” Zero Hedge reported.
Moreover, Johnson said the company was also putting away food for employees in case of emergency.
“We also happen to have three months of food supply for every employee that we can live on,” he said.
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The aim, he said, is to “be able to keep our employees paid, safe and our site up and running during a financial crisis,” Zero Hedge reported.
Moreover, Johnson said the company was also putting away food for employees in case of emergency.
“We also happen to have three months of food supply for every employee that we can live on,” he said.
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Finally someone is putting themselves back on a gold standard, something our government should have never stopped. If the crook Nixon had never taken us off the gold standard we wouldn't have the financial problems we have today. You can't put money in circulation that isn't back by your gold reserve. Now we print whatever we want and suffer through the crashes as the markets manipulate the system, with things like dark pools, and high frequency trading.
