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. Overstock's Chairman Jonathan Johnson is as vocal an opponent of the fiat system, and Wall Street's tendency to create bubble after bubble
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 .... 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.”
Story is here.
I would add one other thing to his wise advice on preparing for the coming collapse. Arm yourself - especially if you are responsible for others (i.e., a family). Here's a report that Europeans are now scrambling for guns with the ongoing huge Islamic influx. In Austria (the one European country where citizens can legally own a weapon), all firearms are now sold out. In other European countries it is extraordinarily difficult to legally obtain a weapon. While 2nd Amendment rights still exist in America, that can change overnight. (If you have no experience with firearms, you must obtain proper training as well as ensure that all weapons are safely secured at all times.)