Ever wonder if the “super-rich” of Wall St. are preparing for a SHTF collapse?
I promise you they most definitely ARE!
I have very close friends who own multi-million dollar companies and I can tell you that they’re also the most concerned people I know when it comes to what lies ahead for our country.
Maybe it’s because they have “more to lose”? Or maybe they have their ear to the ground and know something you and I don’t?
The answer is “BOTH”, and…
Principles of Economics
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Here’s How One Wall St. Giant Is Prepping For Financial Collapse (Steal Their 3 Survival Tips Now…)
Jonathon Johnson, the Board Chairman of Overstock.com (a company with over $1.5 billion in annual revenue and 1,500 employees), gave a talk at a precious metals conference about the company’s insights into where the economy is going and what they’re doing about it.
The No B.S. Truth Straight From The Mouths Of Financial Insiders
Here are some highlights from Johnson’s speech and what you can do to follow their lead on preparing for what lies ahead…
“We are not big fans of Wall Street and we don’t trust them. We foresaw the [2008] financial crisis. We don’t trust the banks still and we foresee that with QE3, and QE4 and QE ‘N’ that at some point there is going to be ANOTHER significant 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 2 days, or 2 weeks, or 2 months.”
What That Means For You:
A “banking holiday” is a Presidential Order (passed in 1933) used to completely shut down banks – without warning – to avoid everyone panicking, pulling their money out and causing a complete financial apocalypse.
The entire banking world suddenly goes “black” and you won’t be able to view your balance… withdraw or deposit money… write checks… or even access your bank’s web page.
For how long?
Like Overstock Chairman said, it could be “2 days, or 2 weeks, or 2 MONTHS”!
So what can you do?
Immediately after a collapse and a federal “banking blackout”, cash is still going to be king (for a little while).
But if you don’t have it in your wallet, you’re NOT going to be able to go out and get it from your bank or ATM.
That’s why the super-wealthy always keep a stash of cold, hard cashola at home (in a safe) for emergencies.
If you have a fire-proof gun safe, that will work too (NOT a bank safe deposit box!)… and you should consider moving some of your savings into primarily $1 and $5 bills (stores won’t be able to make change as easily) rather than sitting in a no-interest checking account that you may never get access to once the SHTF.
Just stack those duckies up right next to your bricks of 9mm and get used to paying for groceries and other expenses with cash now as good practice.
Should You Consider “Alternative Currency”
During A Financial Collapse Meltdown?
Overstock has a very unique look on “money” when preparing for the “death of the dollar”…
“One thing that we do that is fairly unique: we have about $10 million in gold [and silver], mostly the small button-sized coins, that we keep outside of the banking system…. in denominations small enough that we can use for payroll.
We want to be able to keep our employees paid, safe and our site up and running during a financial crisis.”
What That Means For You:
I was late to the game on gold and silver because I found it hard to believe that anyone following a collapse would ever be out there trading.
13 Bankers: The Wall S...
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Then I learned that the life-expectancy of a paper dollar is only 18 months in circulation – which makes gold and silver better for a long-term crisis.
Besides, if mega-banks and corporations are going to be using gold and silver for currency, that’s going to immediately put these small “buttons” into circulation and I think the education level of the average consumer is going to catch up quickly.
You can be sure that stores will begin accepting them in order to stay in business.
When I was in financial planning, we always recommended people take 10% of their weekly paycheck and put it into savings before paying for anything else.
I think that’s a good way to save and I’d split that 10% in half between cash in your safe and silver (and some gold) in small coins from an online bullion outlet.
But a word of warning here…
Don’t go crazy and start sinking all of your hard-earned dough into currency because there’s something even more important (and more valuable) that Overstock is also planning for.
