Goldline scam with Glenn Beck, GOP, Fox network

[Plastic]

Must see 9 minute vid from ABC news, no write-up.



http://www.silverbearcafe.com/private/07.10/scam.html

[Silver Rocket Bitches!]

So you call Goldline to get some bullion, they end up suckering you into buying overpriced numismatics.

When will people learn, don't trust salesmen.

DYODD.

[BrewTech]

I used to get calls from these fukkers a couple of years ago when I first started at GIM1... even then I knew they were a ripoff.

Hint: when somebody that sounds like a mob boss calls you and tells you that you need to buy numismatics at a high premiums because the .gov is going to confiscate everything else... do what I did...

Call them a HACK and hang up.

You'll be glad you did.

Oh, and if Glenn Beck is endorsing it... RUN AWAY!!! RUN RUN AWAY!!! :D

[Sparky]

As much as Goldline is a ripoff, have they crossed a legal line? I think Coach accessories are ripping off women; is that illegal?

[Plastic]

As much as Goldline is a ripoff, have they crossed a legal line? I think Coach accessories are ripping off women; is that illegal?



The word scam is in the title not illegal, a legal scam is still a ripoff of uneducated victims.

[1970 silver art]

Nobody put a gun to a person's head to buy over-priced bullion. A person has a right to walk away from a price that a person feels that is too high. The people who thought they got suckered into buying over priced bullion and collectible coins are the people who did not do any research on a particular gold or silver coin.

Rule # 1: DYODD

Rule # 2: Remember rule # 1

There are a lot of sources on the internet and offline on gold and silver bullion and on collecting coins that can help people to gain knowledge on what they are buying and what prices they should be paying.

[gunDriller]

Oh, and if Glenn Beck is endorsing it... RUN AWAY!!! RUN RUN AWAY!!! :D


that's how i feel about Rep. Anthony Weiner, the guy in the video.

[Bluegill]

I'm not defending Goldline, but Goldline has done nothing illegal or immoral. Just because somebody is to stupid and/or lazy to do a little research before they invest their money, doesn't make anything illegal.

There is absolutely no excuse in the modern internet-information age for an individual to not know what they are getting into. These same people could probably tell you every trivial detail about the latest celebrity gossip from all their internet research. Yet they can't research Goldline, or investing in Au in general..?

The fact that Glenn Beck is endorsing a company should be a HUGE red flag to anybody with half a skulls worth of active brain matter.

"They more or less talked me into buying gold coins". And you sir, are just too stupid to realize you just outed yourself as a complete moron on national TV..? Of course Ma Ma Government is ready to come to their rescue and same them from themselves...

I'm sorry, anybody that frickin' stupid deserves what they get. Maybe a little financial pain will wake their stupid asses up.

[ShortJohnSilver]

I did talk to Goldline a couple years ago but told them upfront that my interest was in bullion. Their price on GAEs was maybe $20 higher but it was not out of line.

[k-os]

Just as 1970 Art Bar said, DYODD about anything, but particularly where you choose to invest. I am happy that I didn't fall for anything like that when I began purchasing precious metals.

I agree with Sparky, there are way worse rip-offs than Goldline. And many more people fall for these scams every day: Coach handbags, Gucci anything, expensive watches, and the biggest scam of them all: diamonds which are completely worthless outside of an industrial capacity. At least with Goldline the gold is worth something.

[Shortstack]

As much as Goldline is a ripoff, have they crossed a legal line? I think Coach accessories are ripping off women; is that illegal?


anyone who equates goldline with coach products is really missing the mark here. Because when people purchase gold, they are spending real money, they are allocating a portion of their retirement, not buying a handbag. They are investing in much the same way as a purchaser of mutual funds or stocks would. Except that they are buying PM's - they are becoming one of us. And the rules governing financial products are a tad different than the rules governing handbag sellers. When goldline takes their marks to the cleaners, they go big.

People are getting robbed for a large part of their investable assets, with a highly focused and deceptive multi pronged sales pitch, starting with dickheads like Glenn Beck. That said, its no surprise to me someone like sparky, who counts the "equity" in his 3 bedroom flat ranch in Dorchester as part of his investable assets and net worth, can not tell the difference...

[madfranks]

A relative of mine who is a big Glenn Beck fan asked me about goldline as I'm known as the gold nut in this part of the family. I told him to get the prices from goldline and then check out Apmex for the same thing. No brainer for him, he ended up buying gold bullion from Apmex.

On an additional note, if anyone here remembers before the current recession/depression, common date circulated pre-33 gold traded more or less at bullion value, usually not much more than GAEs or equivalent. Once the crash started, numismatic gold, even the common date pre-33 gold skyrocketed. A common St. Gaudens now is $1400-1600 depending on how circulated it is, so the numismatic argument (numismatic coins are exempt from future gov't confiscation) seems to be working well.

[big country]

As much of a ripoff as the product he endorses is, I have to credit him with getting me started in looking at gold. I had already turned my financial life around thanks to the other, equally as hated, Dave Ramsey.

Now, after hearing Glenn push for gold and pushing goldline I hopped on the internet, started looking at their website and then searched for others to "compare" I found a few here and there, stumbled onto GIM1 and then stumbled onto APMEX. Saw their prices, now that I had a comparison, and called Goldline. I realized quickly their prices were out of line, told them they were higher then other dealers, and that I would be buying from someone else.

The rest is history I guess, I wouldn't have ever looked at gold if it wasn't for GB. As much as people around here hate on him, I thank him for helping wake me up.


That said, Goldline is a rip-off, and Glenn is being less then honest pushing them to people that, for some reason, trust him. But I ultimately blame the buyers as they are free to do any research they want

[mightymanx]

This is no different than buying a overpriced mutual fund from a broker, or a car from a dealer.

If someone can not do the barest of research on their intended purchase, perhaps buying products, services, or items is not a wise move for the individual.

[RJB]

This is an overall good lesson. Anytime you see well funded commercials (overhead) there will be high prices associated with their services.

I laughed when the guy took the coins to a coin shop. Of course the owner is going to offer the schmuck rock bottom dollar. If it were a regular loyal customer with some knowledge, the dealer might have offered (a little) more but not retail. That's how the coin guy feeds his family. The guy who thinks he was ripped off should have asked the coin dealer what would be the mark up price when the dealer tried to sell it.

Ed schultz, Stephanie Miller and other "liberals" endorse Goldline too. Have you noticed that nowadays talking heads spend more time reporting on talking heads than politics. Especially between MSNBC and FOX. I can't watch it for entertainment value anymore. Beck, Hannity, Obermann, Matthews, Maddow and O'Rielly are low-brow by Jerry Springer standards.