This company’s preparing for the next financial crisis… with gold and food for its employees…
Jonathan Johnson is the chairman of discount online retailer Overstock.com.
He describes the company’s plan to survive the next financial crisis…
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. We want to be able to keep our employees paid and safe and our site up and running during a financial crisis.
We also happen to have three months’ supply of food for every employee that we can live on.
Overstock’s plans may sound extreme to some, but we commend them. It’s the same reason we include precious metals as “chaos hedges” in the PBRG 2015 Asset Allocation Guide. You own metals for insurance in a crisis… and hope you never have to use them.
Watch the first three minutes of the video below for more eye-opening details on the company’s contingency plans. Then, consult our Asset Allocation Guide for more information on how to buy your own precious metals.