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Rep. Anthony Weiner (D-NY) has opened up a full-throated attack on Glenn Beck's peddling of gold coins from Goldline.
Weiner accused Beck of using his show "to prey on the public's fears of inflation and socialist takeovers while actively promoting the purchase of gold coins as insurance against this purported government overreach."
Media Matters for America reported that on Oct. 6, 2009, Beck said this on his Fox News show:
You don’t have any gold, right? This is you. This is you. This is your savings. How much did you lose if you had any money in your 401k? Did you lose, let’s say, I don’t know, 40 percent of it? So, that’s gone. Now, did you know that the dollar has lost nearly 29 percent of its value in the last seven years? Twenty-nine percent. OK, that’s gone. Just gone.
Thanks to its partnership with Beck and other conservatives, such as Fred Thompson and Mark Levin, Goldine is now a $500 million company.
Weiner's staff looked into Goldline and discovered that it's selling gold coins for 90 percent above gold's melt value - it's weight in gold. Wiener said that they found coins priced as much as 208 percent above their melt value.
Weiner has asked the FTC and the SEC to look into Goldline's business practices.
"Goldline’s high pressure sales tactics and fear mongering about big government as well as their ability to hire sales staff and spokespeople who misrepresent their roles are case studies in why entities like the SEC and FTC are necessary."
In his prepared report Weiner said, "Commentators like Glenn Beck who are shilling for Goldline are either the worst financial advisers around or knowingly lying to their loyal viewers."
On his radio show today, CBS News reported that Beck said he "loves" Goldline and that what Weiner is doing is "again another arm of this administration coming out to try to shut me down." Beck said that Weiner's charges are baseless and it amounts to nothing more than modern-day McCarthyism.
Weiner's report states that Goldline has "formed an unholy alliance with conservative pundits to drive a false narrative" that this is a smart investment.
Comments
This Weiner guy is aptly named. It's none of his business. Every major personality shills for something. Trump can't open his mouth without selling something. So what if Beck's pushing gold? If you can afford to buy it, more power to you. Democrat or Republican, anyone should be free to promote something. This Weiner guy should leave Beck alone and do the job he gets paid for. By the way, I wonder how many perks he gets from lobbyists and supporters. Do they affect his decisions?
@Who Cares?
Well, I think that what Wiener is asking the SEC and FTC to look into is Goldline's business practices and how it markets it's product. In the process, Wiener is taking shots at Beck, but the way I understand this story is that he's actually going after Goldline more than he is Beck.
WHAT A HOT DOG THIS GUY WEINER IS.HE THINKS THE PRESIDENT'S NAME IS NATHIAN'S. BUT WHAT THE HELL,HE'S FROM NEW YORK,YOU KNOW THE LAND OF THE DUM DEE DUM'S.HE THINK THAT MUSTARD IS GOLD.
IT IS TRUE....GOLDLINE SELLS GOLD AT HIGHER THAN MELT PRICE...A LOT HIGHER THAN YOU CAN BUY IT NORMALLY...ITS A CON! AND GLEN BECK IS A CON! GETTING HIS VIEWERS GINNED UP AND FEARFUL OF GOVERNMENT AND LEADING THEM INTO A MARKETING FRAUD!
NUMBERS DON'T LIE...ALL YOU HAVE TO DO IS GO BUY GOLD SOMEWHERE ELSE AND YOU'LL SEE.... ANTHONY WEINER IS RIGHT!
CALLING HIM NAMES IS A HYSTERICAL TEENAGE ARGUEMENT .... JUST LIKE BECKS.....BUT THE TRUTH WILL WIN OUT.
BECK HAS BECOME A MULTI MILLIONAIR CONNING THE SHEEP...JUST LIKE LIMPBALLS AND NOW PALIN.
GROW UP AND STOP BEING FLEECED BY THE PRETEND CONSERVATIVES! THEY ARE NOT WHAT THEY PRETEND TO BE OR THEY WOULD PUBLICALLY DEBATE THEIR POINTS...NONE OF THEM DO! BECAUSE THEY WOULD GET THEIR HATS HANDED TO THEM BY THE FACTS!
I've Wiener-Dog on TV blasting Goldline and Beck. I personally don't own any gold. I would like to know WHY is he not investigating the US Mint for selling Silver Mint sets (which contain about $20 worth of silver) for $52.95!!!
WHAT'S UP WITH THAT? It's a US Government agency RIPPING OFF THE AMERICAN PEOPLE.
HE BETTER INVESTIGATE YOUR OWN HOUSE FIRST.
Goldine will sell american egales at $40 above melt value...that's a 4% or less markup. If you buy "collector" coins, you will pay a premium...but that's why they are "collector" coins, they have rarity value above the gold value. This is another Weiner (democrat) false arugment.
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