Overstock.com Has A Bunker Full Of Gold, Silver, And Food In Case Of Financial Collapse

When the global financial system collapses, don’t fret: you’ll still be able to shop on Overstock.com. We’re not quite sure how that will happen, but the company’s early adoption of Bitcoin as a method of payment could be one clue. What you need to know, though, is that the company will keep paying its employees thanks to its bunker of silver, gold, and food.

No, CEO Patrick Byrne is not kidding when he says that the company is prepared for banks to shut down. It happened in 1933, and almost happened during the economic meltdown of 2008. What would you do without access to your bank accounts for a week? Today, when some people rarely even carry cash, we might be in a lot of trouble collectively as a society when it comes to paying for things like fuel and food if banking systems were down for even a week or two.

Unless you work at Overstock. The publicly-traded company has disclosed to the Securities and Exchange Commission that it has about $6 million of gold and $4.3 million worth of silver that could be divided up and used for payroll (probably small coins) and also a 30-day supply of food. It’s all stashed in an undisclosed location, and the company thinks of it as an insurance policy.

Ultimately, what it comes down to is that Overstock’s CEO doesn’t trust our current monetary system. That’s why the company is taking two tactics that seem like they wouldn’t have much in common: they both exist outside of government-administered currency and standard central banks.

Overstock.com Has $10 Million In Gold And Silver Hidden Somewhere In Utah [Buzzfeed]

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.