Glenn Beck, the Huckster

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May-18-10, 06:03 PM
Sstashmoo

Glenn Beck, the Huckster

Rep. Anthony Weiner today criticized precious metal dealer Goldline, Inc. for using what a release from his office described as "aggressive sales tactics, conservative spokespeople and rhetoric to sell over-priced gold coins to unsuspecting consumers."
Goldline is associated with talk radio and Fox News host Glenn Beck, who has often mentioned it on his Fox show and radio program. Goldline is also sponsor of the radio show.

Weiner accused Beck and other conservative spokespeople [[among them Mark Levin and Fred Thompson) of using "their shows 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."

A little scamming with the News reporting. Fox is such a joke.

http://www.cbsnews.com/8301-503544_1...95-503544.html
May-18-10, 06:40 PM
Jimaz

Quote:

Weiner, who is on the House Subcommittee on Commerce, Trade and Consumer Protection, says Beck "should be ashamed of himself." He has written letters to the SEC and FTC asking them to investigate Goldline and is proposing legislation to force the company to "fully disclose their dishonest business practices" by showing consumers "their astronomical markups, and deceitful promises of profitability."

From that I get the impression that this kind of alleged market manipulation isn't regarded as criminal fraud. I didn't see any mention of criminality in the article. Or maybe they first need an investigation to go further down that path?
May-18-10, 06:41 PM
Gistok

Sstashmoo.... 2nd time I agree with you this week.... :eek:

Sstash.... maybe those gullible people can trade in their Beanie Babies for gold.... :D
May-18-10, 07:06 PM
Sstashmoo

Quote: "trade in their Beanie Babies"

Or any of the highly lucrative, insanely profitable offerings from Franklin mint. So many folks got squeezed on that crap.
May-19-10, 12:26 AM
Gistok

There's no problem in having at least part of your investment portfolio in Gold or precious metals... but not buying when the metals are at or near their all time peak.

Intelligent investors already know this... but many Tea Party folks [[and others) are being frightened by Beck et al... into making rash decisions.

As has been stated... this is not illegal... but it prays on the fears of the folks who have been frightened by the expanded government deficit spending.
May-19-10, 08:54 AM
Sstashmoo

Quote: "but it prays on the fears"

Well, those fears are not totally unfounded, it involves a lot of "if's" and "but's", but it may just happen that coercing folks to buy gold was doing them a favor. It's no secret, our dollar is getting shaky around the world. If it were to be dumped by global markets, it would be virtually worthless overnight. The Chinese are buying lots of gold for some reason. As you say, part of the portfolio is the route to go. I know a guy that has went in both feet on gold. It is always a safe investment, but I think folks that are buying it now, are going to lose on it for the interim, and possibly longer.
May-19-10, 09:00 AM
Stosh

I see the bubble popping soon, with a whole shitload of investors out of luck. Remember the manipulation of silver a few years ago?
May-19-10, 09:28 AM
Johnlodge

Have you noticed the flurry of commercials slowly shifting from "SELL US YOUR GOLD!" to "BUY GOLD NOW!"?
May-19-10, 09:31 AM
ghettopalmetto

Quote:

Originally Posted by Gistok

There's no problem in having at least part of your investment portfolio in Gold or precious metals... but not buying when the metals are at or near their all time peak.

Intelligent investors already know this... but many Tea Party folks [[and others) are being frightened by Beck et al... into making rash decisions.

As has been stated... this is not illegal... but it prays on the fears of the folks who have been frightened by the expanded government deficit spending.

Gistok, do you dare to suggest that Glenn Beck would prey on the fears of idiots? I never would have guessed!
May-19-10, 09:32 AM
johnsmith

Quote:

Originally Posted by Johnlodge

Have you noticed the flurry of commercials slowly shifting from "SELL US YOUR GOLD!" to "BUY GOLD NOW!"?

It's like the people who got BURNED flipping houses a few years back. They need to flip that gold fast before the bubble pops.
May-19-10, 09:34 AM
Papasito

Hey, if the zombies dump all their money in Goldline and it tanks,
those talk show guys will instantly become vile heathens even to their own base
May-19-10, 11:30 AM
rb336

Quote:

Originally Posted by Stosh

I see the bubble popping soon, with a whole shitload of investors out of luck. Remember the manipulation of silver a few years ago?

The Infamous Hunt Brothers?
May-19-10, 11:39 AM
jiminnm

We need a few of these around.
http://www.cnbc.com/id/37124207/Remo...old_ATM_Debuts
May-19-10, 01:36 PM
Gistok

Quote:

Originally Posted by Sstashmoo

Quote: "but it prays on the fears"

Well, those fears are not totally unfounded, it involves a lot of "if's" and "but's", but it may just happen that coercing folks to buy gold was doing them a favor. It's no secret, our dollar is getting shaky around the world. If it were to be dumped by global markets, it would be virtually worthless overnight. The Chinese are buying lots of gold for some reason. As you say, part of the portfolio is the route to go. I know a guy that has went in both feet on gold. It is always a safe investment, but I think folks that are buying it now, are going to lose on it for the interim, and possibly longer.

Sstash... I would have agreed about the dollar getting shaky about a year ago... but look at the world's other dominant currency... the EURO. It's been badly battered due to the problems in Greece, Spain and Portugal.

6 months ago a dollar was worth about 0.65 EUROs... today it's worth over 0.80 EUROs.
May-19-10, 01:40 PM
Detroitej72

Quote:

Originally Posted by Gistok

Intelligent investors already know this... but many Tea Party folks [[and others) are being frightened by Beck et al... into making rash decisions.

As has been stated... this is not illegal... but it prays on the fears of the folks who have been frightened by the expanded government deficit spending.

Those fears have certainly worked out well for the gun and ammo manufacturers the last few years. They must be raking in the profits these days.
May-19-10, 03:04 PM
Retroit

If these people were experts, they would be telling us to sell the gold that they told us to buy when gold was $280 an ounce.

Nothing raises more doubt on the value of a product than resorting to a celebrity to push it.
May-19-10, 03:48 PM
rb336

Quote:

Originally Posted by Retroit

If these people were experts, they would be telling us to sell the gold that they told us to buy when gold was $280 an ounce.

Nothing raises more doubt on the value of a product than resorting to a celebrity to push it.

A good rule of thumb -- when a potential investment starts getting pushed in advertising or in "news" shows, it is time to pay very close attention and get ready to move your investments elsewhere. that generally starts when interest from serious investors has peaked and the brokers are going after the come-latelies
May-19-10, 04:14 PM
Papasito

Quote:

Nothing raises more doubt on the value of a product than resorting to a celebrity to push it.

My George Foreman Grille works pretty darn good :)
May-19-10, 04:17 PM
313WX

Wasn't there another "gold gate" similar to this one back in the 1980s [[in relation to the Oil Double-Dip Recession)?

People had the same fear about deficit spending and they all ended up looking like fools when the 90s came around.
May-19-10, 04:22 PM
313WX

Quote:

Originally Posted by ghettopalmetto

Gistok, do you dare to suggest that Glenn Beck would prey on the fears of idiots? I never would have guessed!

No need to guess.

He said himself during an interview for CONSERVATIVE Forbes magazines that he couldn't care less about politics, Fox News is an entertainment company [[that's not surprising given all the conservative tabloid media outlets Rupert Murdoch owns and their main man at 8 PM is a tabloid journalist, they should just change the name of Fox News to Onion TV) and people who falls for his [[or anyone of their) bullshit are idiots.
May-19-10, 04:27 PM
Johnlodge

Quote:

Originally Posted by Papasito

My George Foreman Grille works pretty darn good :)

Really? I had one, and I thought it just dried everything out.

Now my Jack LaLanne juicer...
May-19-10, 05:14 PM
oladub

How to get rid of fiat dollar$ and â‚¬uros

India purchased 200 tons of gold from the IMF last year. China has announced intentions of buying 191 tons of gold from the IMF this year. Glenn Beck must have a widespread audience.

Gold is down about $30/ounce since the â‚¬uro took a hit last week.
May-19-10, 05:31 PM
Sstashmoo

Quote: "Sstash... I would have agreed about the dollar getting shaky about a year ago..."

Quite frankly, I think every thing is getting shaky... I get shaky thinking about it.. :)