Glenn Beck Gold Scheme
I can only watch Glenn Beck in small doses. I watched his interview with Sarah Palin and realized that Palin was the rational one in the room.
One thing I noticed about Beck is that a company that buys gold coins advertises A LOT on his program. I was curious about a gold coin company touting economic doom and gloom that would advertise on his show. Apparently, I'm not the only one whose curiousity is piqued. Turns out, New York Congressman Anthony Weiner was also intrigued, and issued his findings.
Here is the Beck scenario:
- Glenn Beck pitches the destruction of the US Dollar. "100% guaranteed hyperinflation like Zimbabwe." (Actually, financial and economic experts fear deflation at this point but Glenn -- don't let facts get in your way.)
- Beck cites the 1933 executive order FDR issued claiming the government will "take all your gold" except antique coins.
- Beck has devoted numerous shows to how the US money supply is destined for hyperinflation under President Obama. Show then cuts to commercial for Goldline.
- Glenn Beck personally endorses Goldline. "Call Goldline, study it out, pray on it. They're not going to pressure you. Trust the people at Goldline."
Key findings in Congressman Weiner's report regarding Goldline:
- Gross markups: Goldine's average mark up was 2X competitors
- The price of gold would have to double for their clients to break even
- Goldline misrepresents their salespeople's ability to give "investment advice" -- no one at the firm is licensed or regulated in any way. Based upon this, the Missouri Sec'y of State recovered $200,000 for an elderly person who fell for their tactics.
From the beginning of my involvement with RFO, I have voiced my disgust at the direction the media is taking toward its own corporate agenda. This, however, is the worst and most blatant case I've ever seen.