How One Retailer Is Preparing For The Financial Apocalypse
Mr Johnson, who is running to be Utah governor, said Overstock also kept extra freeze-dried food so it had enough to feed each employee and one family member for three months.“We thought there’s a decent chance that there could be a banking holiday at some point caused by a crisis and it could last for two days or two weeks or who knows how long, and we wanted to be in a position where we could continue to operate during any such crisis,” he said.Overstock’s gold stash will resonate with libertarian conservatives who distrust the Federal Reserve and Wall Street and view gold as a refuge from government attempts to inflate and control the economy.
“Gold is just one of the financial contingency plans that Overstock puts in place,” he said. “We also have contingencies if sales don’t come in as expected.”
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.
Credit to Zero Hedge
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Source: http://nunezreport.blogspot.com/2015/11/how-one-retailer-is-preparing-for.html
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