Posted on 10/25/2015 12:08:25 PM PDT by dynachrome
But little did we know that Overstock's Chairman Jonathan Johnson is as vocal an opponent of the fiat system, and Wall Street's tendency to create bubble after bubble, if not more than Byrne himself. That, and that his company actually puts its money where its gold-backed money is and in preparation for the next upcoming crash, has taken unprecedented steps to prepare for what comes next.
One week ago Johnson, who is also candidate for Utah governor, spoke at the United Precious Metals Association, or UPMA, which we first profiled a month ago, and which takes advantage of Utah's special status allowing the it to use gold as legal tender, offering gold and silver-backed accounts. As a reminder, the UPMA takes Federal Reserve Notes (or paper dollars) which it then translates into golden dollars (or silver). The golden dollars are based off the $50 one ounce gold coins produced by the Treasury of The United States. They are legal tender under the law and are protected as such.
(Excerpt) Read more at zerohedge.com ...
https://youtu.be/70t9tM1mD8A
He advertises on the Blaze.
Make of that what you all will.
When push comes to shove (or SHTF) and he shows up at the vault for his $10mm worth of gold, he will be lucky to get $1mm.
Bad guys and politicians (yeah, I know), take note. There is 1) a storage facility and 2) one day the gold will need to be moved. Doubt the employees at the bottom of the totem pole will see one protein bar much less a silver dollar.
Ping
Interesting, and surprising from what I’d consider a ‘mainstream’ business.
I’ve never bought from them before, but will consider it in the future, just based on this.
Preppers’ PING!!
hat tip to Tilted Irish Kilt for the heads up!
Do you count that as a point for or against him?
[ Do you count that as a point for or against him? ]
I count that as a point for him, other freepers may not.
Don’t know his particular religious background, but this sounds like the corporate version of a Mormon being a Mormon. Except that he is about nine months short on the supplies he has stored because I believe the requirement is for one year of food for each person. Maybe they’re just getting started.
Personally, I don’t think that storing food for an emergency is a bad idea even if the press wants to paint you as paranoid.
Maybe they encourage their employees to create their own stock by starting them off with 3 months.
Thanks for posting.
I read somewhere that he is a Mormon. I’m not sure about the gold, but food is a good idea.
I saw a list the other day of companies that support “Immigration Reform”. They were on it. The CEO even gave an interview about it, that I hope, is linked here - https://www.youtube.com/watch?v=z5S6CYj1QgY
Pretty neat benefits, but not a good idea to advertise it.
“Don’t know his particular religious background, but this sounds like the corporate version of a Mormon being a Mormon. “
There is no “corporate version of a Mormon being a Mormon”. Regardless of his faith, this is unique. Mormons are very individualistically oriented, they strive to promote self reliance. This CEO is compassionate and wise.
What will happen when the real gold sales are zero..?
eventually there will be nowhere to hide the generated sales
Ugh...I watched it...Big proponent of H-1B Visa expansion...Just like Cruz was...What is it with these guys?!?!
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