After the Democrats snuck the provision for gold coin dealers to have to provide a 1099 for every investors they acquire over $600 in gold from, it was only a matter of time before the upped their attacks on the alternative investment and currency, and that has come in their ferocious and unwarranted attack on Glenn Beck and Goldline, through the investigation of alleged "sales tactics" which are evidently too aggressive for Democrats' tastes.
How this requires an investigation is so dubious you have to dig some before you find out that the person leading the probe of Beck and Goldline is an Obama campaign contributor - Adam Radinsky.
Another Democrat, of course from New York, Anthony Weiner, has been leading the questioning and assertions concerning Beck and Goldline.
What is the big deal about? This horrible company is encouraging customers to acquire gold coins rather than gold bullion. Really! That's it.
A tiny group of customers alleged they were "coaxed" into buying coins instead of bullion, which have been harder to sell at a profit. There's not one thing in the world someone couldn't say the same thing about, so this is a non-story created by the Democrats because of their hatred of Beck.
What company in the world doesn't attempt to sell their more profitable products, which gold coins definitely are. But bullion has a lot of risks, due to its size, and the fact of how much it would cost, which the average person obviously couldn't afford.
Gold coins are recommended, for the most part, by most in the gold industry, and their portability and lower costs are a major reason for that. How that gets turned into an investigation is beyond the scope of a healthy human being and the way they think.
Democrats, who own the health bill, also hid a provision to force gold coin dealers to have to provide a 1099 for each person they pay over $600 to for gold they acquire. That will devastate many of the small business owners dealing in gold because of the shear volume of paperwork required.
Gold continues to expose the policies of the governments and central banks around the world as crooked and devastating to the value of the currency. This is why they act stupid and clueless when people ask them questions as to why gold prices are going up.
Thursday, July 22, 2010
Democrat Attack on Gold, Glenn Beck, Goldline Continues
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6 comments:
The only problem with your analysis is that the Los Angeles County District Attorney has also launched an investigation (most likely criminal) into Goldline. Who is the L.A. County D.A.? Republican Steve Cooley.
anyone who would buy these coins from this or any other company and not at spot gold price from a local dealer is not too bright in the first place. I say let Beck and his fellow crazies go down in flames.
Beck has only one God and that is money. He worships the golden idol or riches and does not care about the average person. Of course he would have a sponsor that is not on the up and up!
He is what is wrong with Americia these days
Once again, our wonderful Congress passes a bill that is over 2K pages wide, and doesn't read it. What a country. Any person that voted for this crew gets what they deserve and I hope they have a very hard time getting a job if they are laid off too.
Unfortunately the attack on Goldline is not baseless. They were overcharging for their products by using fear mongering "gold is subject to confiscation" and bait and switch tactics. Once they had someone on the phone who appeared to have done some research and knew what they wanted to buy, they would steer them to a different product assuring the person that they only had their best interests at heart, but actually bilking them out of funds. Of course the onus of responsibility should fall on the buyer, but these kind of tactics are unfortunately rampant in the precious metals industry.
When I purchased a 1 oz American Gold Eagle from a different precious metals company, they attempted to steer me towards buying 4 pre-1933 Swiss Francs for about the same price, since they "weren't subject to confiscation". Fortunately I didn't fall for it. After I got off the phone I researched the coins that they were trying to sell to me and I would've ended up with less than 3/4 of an ounce of gold between the four coins.
The moral is to do your research and never trust a salesman, because they're only looking out for their own commission and nothing more.
Goldline and Beck are being used as a diversion from the real intention. They want to trak all gold in case they decide to confiscate it after a dollar collapse later.
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