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Glenn Beck's links to Goldline are again drawing scrutiny. AP Photo
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Goldgate part two: Glenn Beck endorses Goldline but customers have complaints over markups
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Glenn Beck promotes gold on his show without disclosing a potential conflict of interest
Five months ago I wrote a series titled "Goldgate" which investigated the links between Glenn Beck and his "golden" sponsorships. Of particular interest was Beck's relationship to Goldline, a company that sells gold coins. Many customers of Goldline complained about the tremendous markups on the price of their products. Many of the coins would have to double in value for customers to ever regain their investment. Some coins that were sold as "rare" were found to in fact not be rare at all and being sold for less on the open market.
Despite these complaints, Glenn Beck vouched for Goldline telling his audience to "trust the people at Goldline." Beck also came under tremendous scrutiny for the promotion of gold on his television show. Beck's sponsorship from Goldline has always been disclosed on his radio show, but the possible conflict of interest was never disclosed on Beck's television show.
Now, it seems the trade practices of Goldline are coming under Congressional scrutiny. Rep. Anthony Weiner (D-NY) had his staff investigate various customer complaints about Goldline. According to Rep. Weiner, Goldline is "a company that uses conservative rhetoric, high pressure sales tactics and tall tales about the future of gold to sell over priced coins that can be bought somewhere else for cheaper." Rep. Weiner has sent letter to the Federal Trade Commission and Securities and Exchange Commission requesting an investigation of the company.
The response from Glenn Beck was not positive to put it mildly. First, Beck "responded" by making fun of Rep. Weiner's name. Beck always says he likes to respond to allegations with the truth and under a loose definition of "the truth" this could qualify since "Weiner" is a funny name. How Rep. Weiner's name in anyway disputes the allegations is another matter. Secondly, Beck attacked Rep. Weiner over various fines leveled by the FEC against him. Finally, Beck made himself out as the victim saying "We are in full-fledged McCarthy land now."
The problem with Beck's defenses is that they actually contradict themselves. Under Beck's McCarthy theory Rep. Weiner is using the executive branch to go after Beck. However, Beck himself states that the executive branch actually went after Rep. Weiner. So how does Rep. Weiner control the executive branch if the executive branch fined him?
In addition, Beck never refutes the essence of the claims made by Weiner. Is Goldline selling coins for inflated prices and using high-pressure sales tactics? Does Beck have knowledge of these trading practices? Does Beck aid Goldline by fear mongering about hyperinflation and global economic collapse? Beck says he is willing to put all his cards out in the open. We may see if that is true in the future. Would Beck allow the FTC and SEC to look through his contract dealings with Goldline? Would Beck submit to a deposition over the dealings he has with Goldline?
Comments
Weiner IS ONE!
I stand beside Glenn Beck and by doing so, I stand beside my Lord Jesus Christ. Glenn Beck is a prophet of the Lord and if the Lord wants his followers to pay a 40% premium on Gold well then I'm all in! God moves in mysterious ways. I have always feared him and now I am especially terrified by what he and Glenn have done to my savings. But hey, what can you do?
Little Buddy: LOL! I am going to create a "best comments" article this year and that will almost certainly make the list.
Yes, let's 'investigate' Beck's sponsors. Of course, it's not because Beck is exposing corruption in the government. Of course, it's not 'intimidation' since 'boycots' haven't worked on Goldline.
All citizens should 'WANT' the information Beck is providing, unless they want the corruption!
I hate to think that about my fellow citizens, but there is no doubt.
And when Rep. Weiner acts like a 'weiner' it's just too much temptation for mere mortals to withstand. Witt would never stoop to it, (unless he was quoting SNL) but the rest of us are just evil enough to think it's funny!
Hah! That's a laugh. Ever buy furniture? Do you have any idea how high the markup is on furniture? None? How about a diamond ring for your same sex partner? The mark up on jewlry is incredible. Clothing at Ambercrombie and Fitch, not cheap. What is the markup on that? IT IS HUGE compared to gold. The mark up on groceries not so huge except for the fact that the turnover makes it extremely profitable. I wish I could get 2% profit on a gallon of milk and then sell 500 gallons with out having to put out the up front cost on all 500 gallons. Your local shoe store buys shoes for less than half the final price.
You guys are in LaLa land and goofy to boot.
So let's see you don't buy furniture, jewelry, clothing, groceries, milk, or shoes because the markup is more than gold. And when the economy colapses try selling that worn out pair of retreads for twice the price.
Don't you guys ever get tired of being evil all the time.
Congressman Weiner Has claimed and reiterated that the IRS would not enforce the individual mandate of ObamaCare compliance and said that ‘Democrats made it clear we do not WISH to criminalize anyone over this.’No they don't want to but they feel they will have to, you know, throw you in prison for your own good, see. He is hoping you would go along quietly.
Weiner vehemently denied there was any such plan to monitor or force compliance.
The outright, blatant contradiction of this is utterly astounding. So it is entirely voluntary? Yeah we don't have to pay that tax? Tell that one to the IRS as they confiscate everything you own. And damage your kids for life.
Scared of the government now Horatio?
Klatoo now you tell me! Like a dummy I've been setting aside 4 gallons of milk each week as an investment for my retirement when I could have been buying gold from Glenn at a 40% markup which is reasonable when you consider that the profit margin on clothing is so high.
In ten years, I'll be stuck with 500 gallons of yoghurt and Klatoo will be living large.
Rumor has it Obama is highly angered by the high mark up price of all commodities, accusing greedy speculators and talk radio of causing a bubble. Congress is now in the process of legislating individual mandates forcing you to buy furniture whether you want it or not. This is to eliminate the profit motive. The cost of furniture will have zero markup but the cost will, in his words, "necessarily sky rocket."
That's quite a rumor Klatoo! Yes, I can see the black helicopters delivering my new furniture any day now. Ah yesssss.
By the way, did you go to Sunday services this weekend? Yes? You did? Did they scrap all of the routine Sunday worship junk and just play Glenn Beck's program instead as they should have? Having a living prophet amongst us now must make your pastor's job a lot easier. Our church has a huge poster of Glenn hanging behind an alter with a running transcript of Glenn's show scrolling beneath his lovely image.
I usually give an offering of pajamagrams or survival seeds to keep him happy.
OK.......My main interest and focus has always been tradable paper when it comes to investment securities. But since these "groundbreakin" and "riveting" diatribes on Beck came out I decided to do a little research.
Goldline is featured on Numerous shows including Mark Levine and Hannity. Rush also advertises Gold outfits on his show. As does (GASP) CNNN....almost NONSTOP!!! I researched the various products and found recently and during the past 6 weeks consistently :
Am. Gold Eages... Goldline within $15 of major online dealers.
Am. Gold Buffaloes actually CHEAPER than MOST online dealers.
Same for Philharmonics (Austrian) and Mapleleafs(Canadian) Kangaroos(Guess where from) and Kruggerands(South Africa).
However British Sovereigns and 20 franc coins from various countries WHERE MUCH MORE expensive at goldline. Now anybody doing a comparison could've seen the discrepancies....because Golsline IS a part of the open market. Cont...
With this one exception Goldline was very competitive with respect to 1 ounce bullion coins. If people compare they will notice this discrepency and see that Goldline is a viable choice for regular 1 ounce Gold options (Bars were similar too). But is a very BAD choice for these smaller coins.
Nobody prices shops..???? Yet there are costcos and walmarts everywhere etc...
This is a politically motivated attack...pure and simple. Oh and by the way Ryan.....it's not hard to do....you just pick up the phone and ask, then do a little internet research and viola...you'd have the Truth about what's being charged and what the market will bear.
In case the author of this article and Rep. Weiner hasn't noticed global economic collapse is happening right now caused by european socialism and socialistic greed. Has Weiner missed the news on Greece and Germany? How about the stories about all the gold India and Russia are buying? The attack on Beck is nothing more than Obama's attack on free press and speech. Socialist always shuts down free speech. The little O can't stand dissent because his march towards American socialism is being slowed down. History and truth are available. See Russia, Eastern Europe, China, Viet Nam, Cambodia, Cuba, Venezuela just to name a few. By the way, who exactly is running the O? Who is directing him? Who is behind the curtain?
Excellent Post Joanne !! Thank you for that. Who indeed is behing The O-man.?????
Joanne and Jaime: The American people. That is who is behind the curtain. The President was elected with a majority. I promise it is true. Please look it up.
Thanks for your Reply Ryan, I don't know Joanne. But I have "looked it up" and I bet she has too. That's why we're asking the question.
Have you looked up the Gold prices and different options available .....well everywhere ??
I checked out "gold line" and found them grossly overpriced I simply went to a different seller to buy my gold and silver. No one forces us to buy anything (well, with the exception of the government guns to our heads, forcing us to buy their health insurance, their car companies, their banks, their houses, but I digress). If you don't want to buy gold, don't. If you want to shop around for a better price, go for it. Bitching about Glenn Beck's PAID sponsor/advertiser and inventing a "Evil" connection? Ridiculous. This administration is absolutely scared s***-less of the gross corruption that Beck is exposing on a daily basis. The MSM refuses to talk about it, is complicit in covering it up and pushes bogus stories like this in order to divert attention.
Europe is burning!!! Greece is burning! Thailand is burning! I beg of You! Pray on it!
That was Beck's lead in to selling Gold coins this morning. He's really playing up the "end of civilization as we know it" scenario. If in a year we were to have total anarchy with mobs roaming the streets, the last thing I'm going to want to have to barter with is an Austrian Philharmonic or a Krugerand. If you're going to buy gold as a hedge, buy GOLD!
Glenn hates his followers. I'm convinced of it. His flock missed out on a huge rally in the stock market since Obama was elected that erased most of the losses incurred with the collapse of the markets during the last years of Bush.
I figure between the lost stock market opportunities and then the 40% premium his followers are asked to pay for "collectible" coins, they are down about 120% from where they could be. And as if that were not enough , now he wants them to wear PajamaJeans in public!
Is he working with the terrorists or what
Barney Googlefarts,
Ryan doesn't like the term "Hack". Therefore I must call you a Hock or Hick or Heck maybe just a diletant will do. WHAT in the WORLD do you know about investing ????
To say that the "Market" is up 40% and that erases most of the losses (a fair share of which came under Obama/Pelosi/Reid by the way) shows no understanding of market dynamics at ALL. To say nothing of Arithmatic. If someone had a $100,000 and it declined an average of 40%, they would've been left with $60,000. and if the market then surged 40% to the long side (and they didn't cash out) They still would have only $84,000. Further this assumes you were in the Stock indexes. Many individual issues haven't rallied. And if you were to look at the recent highs in the 10,000s an investor has stayed even at best with a couple of years ago...ie, ZERO growth with high risk. IF you count inflation in then these Stock investors are at a LOSS.
I'll come to you when I get a few bucks to invest..LOL
"To say that the "Market" is up 40% and that erases most of the losses (a fair share of which came under Obama/Pelosi/Reid by the way) shows no understanding of market dynamics at ALL. To say nothing of Arithmatic."
I don't know what this new "Arithmatic" is that you use, but if it's an approved accounting method used by Glenn/god then who am I to question it?
Last I checked Biggest Frumplemumsters, arithmatic's truth answers to the Highest Authority. But Liberals prolly don't know that.
Right, right, we're just trying to figure out who the highest authority is. Some say it's Glenn/god some say it's Jesus with Glenn as prophet.
"Barley Frumpmeister says:
Right, right, we're just trying to figure out WHO THE HIGHEST AUTHORITY IS. Some say it's Glenn/god some say it's Jesus with Glenn as prophet"
As I said Liberals don't know. Because they serve the "Socialism Idol".
So I guess you're throwing in with Glenn/god.
Weinerfacts.com comes out with new information everyday about the corruption scandal following this pig. Weiner is in it up to his eyeballs.
Thanks Klatoo for the link to The Weenies doings. This Oscar Meyer is quite the little Democrat Shyster....does the Liberals proud.
It's kind of hilarious.....all this hooie over little pieces of yellow metal.
I hate Anthony Weiner. Just another Socialist loud mouth Jewish American Prince from New York.
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