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Overstock Chairman Preps Company For Financial Crisis

A couple of weeks ago, Jonathan Johnson the Chairman of Overstock.com, gave a speech at the United Precious Metals Association (UPMA).

dollar caught in web

Money After Economic Collapse

A little background:

  • Johnson is also running for Utah governor, and
  • the UPMA takes advantage of Utah’s special status allowing it to use gold as legal tender, offering gold and silver-backed accounts.

Johnson voiced his distrust of both banks and Wall Street. Convinced another financial crisis is looming, he’s taken two unusual steps to insure his employees’ security:

  1. If there is a crisis, and a bank holiday is declared, Overstock has $10 million stockpiled in small gold and silver coins/buttons for employee salaries.
  2. Overstock has an additional 3 months (more than they need for internet sales) worth freeze-dried food designated specifically for employee use. Every employee plus one (spouse, etc.).

Talk about prep.

The last part of the video discusses how four currency types (the fiat dollar, the gold bar, gold as legal tender, and crypto-currencies) rate as “good currency”. Easy to understand. And every prepper should.

Enjoy.