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Overstock. Com Prepared for Financial Crisis

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Wow...Overstock is the company to work for! Overstock will pay employees in gold, sliver and food when the shit hits the fan.

 

Under Jonathan Johnson's leadership at Overstock.com, the company has socked away $10.9 million in gold and silver and has a three-month food supply for each employee, bracing for a financial crisis that the Republican gubernatorial candidate said is certain to come.

Johnson told the United Precious Metals Association — a group that was behind legislation to make gold legal tender in the state — that the company keeps small button-sized gold and silver coins outside the banking system.

"We expect when there is a financial crisis, there will be a banking holiday," Johnson, Overstock chairman of the board, told the group. "I don't know if it will be two days or two weeks or two months. But we have $10 million in gold and silver in denominations small enough … that we can use it for payroll. We want to be able to keep our employees paid [and] safe and our site up and running."

More: http://www.sltrib.com/home/3120420-155/utah-guv-candidate-overstock-stockpiled-gold

 
 

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And now there's a giant target on their heads for making this publicly known. I foresee an IRS audit in their future.

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I'm now going to be a shopper at Overstock.com.  That is absolutely amazing!  I think Challenger is right though - the Secret Service, FTC, IRS, and every other alphabet agency will be investigating them.  For example, the Secret Service could claim that Overstock.com is planning a "counterfeit" operation by using gold as legal tender. 

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During a financial crisis it's doubtful that much of their inventory will be in demand thus no need for payroll. Gold as severance pay would be swell. Declaring your gold assets publicly, not too bright.

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1 hour ago, Last1oftheJedi said:

This just in, Overstock supplying ISIS! All assests have been seized o.o All employees detained. 

Haha was waiting on that type of reply. I however will still hit up eBay for my cheap purchases, over stock just seems too high on some products for me :-P however if they want to sell some of that silver and gold below spot I'll definitely have to make an order. 

 

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1 minute ago, Groove said:

Haha was waiting on that type of reply. I however will still hit up eBay for my cheap purchases, over stock just seems too high on some products for me :-P however if they want to sell some of that silver and gold below spot I'll definitely have to make an order. 

 

They'd take a beating selling PMs below spot. But even a little above would be a great bargain. 

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7 minutes ago, Challenger said:

They'd take a beating selling PMs below spot. But even a little above would be a great bargain. 

Heck yea. Love it when I can find a single silver ounce for under $18.00 shipped. 

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Just now, Groove said:

Heck yea. Love it when I can find a single silver ounce for under $18.00 shipped. 

Then the big question is: Will we ever see PMs rise to their true, historical values? Or will they try to confiscate? (Of course, any of us who had PMs lost them in that boating accident over the Marianas Trench. Pity.) 

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2 minutes ago, Challenger said:

Ugh my quote messed up. I don't see the true value piping up any time soon but you never know  

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2 minutes ago, Groove said:
6 minutes ago, Challenger said:

Ugh my quote messed up. I don't see the true value piping up any time soon but you never know  

Yeah, they're still trying to figure out what's going on with the quotes. 

Personally, I don't see PMs rising till the dollar dies. What's your take on that?

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14 minutes ago, Challenger said:

Yeah, they're still trying to figure out what's going on with the quotes. 

Personally, I don't see PMs rising till the dollar dies. What's your take on that?

I think that once that happens that they will somehow try to keep the true value down on PMs so that people don't go insane selling them off. But on the other hand I see all these banks and companies buying silver and gold by the truck load so I could be wrong in my assumption. I can prolly see the silver and gold Eagles going up in value a little bit but the generic rounds may stay the same, wait that happens already. $25 for a silver eagle and $17+ for a generic round. Any way I'm all over the place with my thinking on the value. 

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