Glenn Beck and Goldline Under Fire~~~

Before I get started here folks I have to say two things.
First I used Glenn Beck in the title so you'd read it. Yes, it's cheap but I figure it will work.
Second, I was going to put this in "Chatter" but it says that it's for discussing things not worth arguing about. I'm not here to argue but I have been here long enough to know what happens.

So here's the story.

http://articles.latimes.com/2011/nov/03/business/la-fi-goldline-charges-20111103

Now let it be known, for those that don't know already, I am NOT a fan of Glenn Beck. I don't take what he says with a grain of salt. It's more like salt blocks.
Nor am I a fan of Goldline.
IMHO they are scum. We sold them some merchandise about a year ago and it turned into a fiasco.
They are HUGE compared to the shop I work in but, long story short, it came down to my boss asking them if we needed to get a lawyer on it and should we tell our story on the coin dealer networks.
The dealer network "question" made them see the light as it were. Where do you think they get their material after all?

So considering that there are 19 Criminal Complaints filed against them you'd probably figure I'm a happy camper about this. Well, I am but as distastful as it is I CAN see them fighting this and winning.

Being in the coin and bullion industry makes me see this. I'll give some examples and let you sort them out.

I mentioned the dealer networks. We have been on them for a very long time so we are known as being reputable. A dealer does NOT want to get a bad reputation.
Dealer networks involve dealers selling to dealers. We will never trade with Goldline again. We only did because they were offering top dollar.
We have dealt with MANY companies that will, at times, offer over what we would sell at full retail for. A no brainer. We sell to them to maximize profit.
Usually these are dealers that run big ads in coin magazines, appear in newspaper Sunday supplements or even sell on TV.

I have very little (ok basically no) respect for them but if they offer top dollar and pay us promptly it's just business. If we don't sell to them someone else will. Believe me on that.

Now as for Goldline using a "bait and switch" I can't say for sure. I don't work there. As for selling at 50% over retail. How can one say?
Knowing there are some real coin collectors on this forum I'm sure you know that there ARE no set prices on coins. One can look at a multitude of "price guides" and see a multitude of values. A coin is worth what someone will pay for it.

It is up to the individual actually buying to have the responsability of doing the research to determine just what they are willing to pay for a coin.

I work in a "brick and mortar" shop. I deal with people face to face. It does not behoove us to rip people off. Yes, we make money but we want repeat business and a good reputation.
We gain customers this way. Most satisfied customers may tell a friend or two. ANY dissatisfied will tell friends.

In a Goldline scenario you don't really have that. It is frequently the uninformed paying too much for coins.

In my 3+ years at the shop I have seen a good deal of stuff people bought from big outfits and TV sales. They've paid stupid money for it. They're tight on money and want to sell it. On many occasions I have to tell them we just don't want it. A Gold Plated Replica that someone paid $20 for is worthless to us.
Many coin collectors think working at a shop is a dream job but not always so.
Telling an 80 year old man or woman that they got ripped off does NOT give me a warm, fuzzy feeling.

I don't have any respect for companies like Goldline and a multitue of others. IMHO they DO really target the elderly and uninformed.

Giving much larger commissions on a "bait and switch" is deplorable to me but is it a "bait and switch"?
If so then there are a LOT more guilty parties out there and it's not just coins.

Caveat Emptor.

 

I pay zero attention to Goldline. Absolutely none. However, saying Beck has done anythng wrong because Goldline advertizes on his show or even if he advertizes for Goldline is as bad as tying the crimes associated with OWS in Oakland with BO, Streep, and Moore. Even assuming that the OWS people committed the crimes (and I am not saying that they did or did not), that still does not tie any of the three to crimes.

 

What about endorsing Goldline? What about giving his name and word as to the credibilty of Goldline? What about all the other Fox personnel hocking these crooked deals?

View attachment 310

 

Come on. You act as if no television personality has ever hawked a product before. Beck is no longer with Fox--so let's please drop that little baiting tactic. And let's not forget that this is not the first time anyone has ever been misled into recommending bad investments. Ultimately, people are still just people, no matter who they work for.

 

Of course he does. It fits his imaginary world. But BO endorsing the OWS and Corzine does not fir so you won't hear that from him.

 

I'm glad you feel that way. I have this beautiful swampland I want to sell you. Just 1 million dollars a square foot. Trust me, you want this swampland in these uncertain times. Swampland is can be a wise investment against an economic future that Barack Hussein Obama has already ushered in to the doom and despair of everyone this side if Alpha Centauri. You don't want to pass up this limited opportunity. Call now and get the security you need in these difficult times.
Seriously, the funny part about Beck was that he would rant on about how the world was doomed because Obama, the Caliphate, the Muslims, and every other boogie man be could scare people with but then turn around and tell them that they needed to buy gold. You do know that investments are regulated and have to be sold under strict definitions under the law? It's more than just selling widgets. You can't knowing defraud people when selling something as an investment. I do agree that anyone that would listen to Beck about anything at all should have their head examined and I also see scores of people every Sunday morning tuning into these televangelists and being sold a load of crap as they try to buy their way into heaven. Beck wasn't the victim here, the people that believed in his nonsense are the victims of Goldline. Beck just used his position to help Goldline fleece these idiots.

 

Wait a minute, I thought it was hypothetical world?

 

So, I'm naive and foolish because I don't agree with you? Way to further discussion. Do you realize that I didn't even read your message past where you insulted me? If you can't make an argument without being offensive, then the argument you make is worthless.

 

Par for the course with moen (and seemingly the entire left). If you dare to disagree they start hurling insults.

 

Whoa! This had nothing to do with you personally. The first half was just a joke, hence the beginning word of the second paragraph, "Seriously". I was merely satirically pointing out exactly what Glenn Beck was doing when he used the trust people had placed in him, although it is misplaced trust, to sell a product as an investment that was really just a scam.
No self-respecting coin collector I know would pay what Goldline was asking for these coins but it certainly is easy to dupe people that know nothing about either coins or gold investing and that is what Beck did. Beck is not a stupid man. He just uses his intelligence to line his own pockets at the expense of people with far less intelligence. He used his platform on Fox to first scare and then fleece the people that bought his nonsense.

 

So unsubstantiated generalizations must be par for the course with seemingly the entire Right. You can't believe that one is true if you aren't willing to believe the other statement is also true without being just a blowhard troll. I don't personally believe either blanket statement but you seem to. Hum?

 

The one thing that offends me is when people are offended.

I'm offended I said that.

Glenn Beck is as close to insane as a person can be and still be self-sufficient. IMO, listening to his advice is over that line, and into insanity. He is entertaining at times though.... if you enjoy watching a crazy person do things.

 

Then don't watch him. I don't. Why attach any value at all to him?

 

I rarely did, even when he was on CNN. I did enjoy watching his insane rantings on FOX though. That's his value to me... observing an insane person rant as entertainment.

 

So, you take pleasure in watching what you feel is untreated mental illness? Why would that be?

 

He is crazy like a Fox! Hey, that works on so many levels.

 

ROFL I disagree with the statement, but I appreciate the humor. There's nothing like a good pun.

 

Why not? He's obviously making good money and putting himself out there. His manic behavior serves his interests. I have no problem considering him fair game.

 

You attach a value to Glenn Beck and others like him on both sides of the political dived simply because they have a following and lets be honest here his following is not small.

 

Nor terribly bright.