here is how it works. glen beck whips up the fears of his gullible right wing listeners by preaching doom and gloom and then a commercial comes on with a solution. buy gold at an inflated price
its almost like religion. preachers tell you that you are doomed and then offer a solution. for a price.
Glenn Beck-Approved Goldline Charged With 19 Criminal Counts Of Fraud And Theft
The complaint alleges that Goldline âruns a bait and switch operation in which customers, seeking to invest in gold bullion, are switched to highly overpriced coins by using false and misleading claims,â according to a statement released by the consumer affairs division of the Santa Monica City Attorneyâs office.
The company has been charged in the court filing with misdemeanors that include theft by false pretenses, false advertising, and conspiracy, the City Attorneyâs office said.
While former Fox News conspiracy-theorist Glenn Beck is most closely associated with Goldline, Sean Hannity, Laura Ingraham, and Mark Levin, former GOP presidential candidates Mike Huckabee and Fred Thompson, and several Fox News hosts, among others, have all endorsed the company.
Indeed, conservative talk radio is central to the companyâs success, as Goldline employs a business model based not on mere advertising, but full integration with the content of conservative talk show hostsâ messages. The companyâs website prominently features these endorsers, suggesting the talkersâ backing gives Goldline âcredibility.â The company has said it will vigorously contest the charges.
Goldline's Clever Scam -Mother Jones' Stephanie Mencimer investigates. "Twenty-franc Swiss coins are a little smaller than a nickel and contain a little less than two-tenths of an ounce of gold," she writes. "Goldline sets a 30 to 35 percent "spread" on the coins, meaning that it will pay $375 to buy back coins it's currently selling for $500. At that rate, gold prices would have to jump by a third just for customers to recoup their investment, never mind making a profit. Investing in Goldline's 20 francs would be like buying a blue chip stock that lost a third of its value the minute it's purchased. It's difficult to think of any other investment that loses so much value almost instantly." Mencimer says Goldline uses aggressive and exploitative sales techniques to push the lucrative sells.