Posted on 07/20/2010 6:19:11 AM PDT by truthandlife
An executive with Goldline, one of two gold companies now under investigation for their sales practices, told ABC News Tuesday morning that his company does not intentionally steer customers toward overpriced gold coins – but he also touted the coins as a safe harbor because "no one knows" whether the U.S. government will seize gold from private citizens. California authorities investigating Goldline's sales practices.
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In an interview on Good Morning America, Goldline executive vice president Scott Carter responded to allegations that his company has made a fortune by persuading gold investors that collectable coins are worth buying, despite a hefty mark-up. He said the firm, which weaves its sales pitches into broadcasts by popular conservative political personalities – including two former presidential candidates and Fox News host Glenn Beck – is simply offering its customers sound advice.
"You should hold this three to five years," said Carter, "preferably 10." He said that some of the price of the gold coins his company sells can be traced to "upfront costs." He noted that his firm had been in business more than 50 years, and earned half a billion dollars, and enjoyed an A plus rating from the Better Business Bureau.
Carter also restated a central point of Goldline's sales pitch – that the federal government took gold bullion from private citizens during the Depression, and could always do so again. That's why the company encourages customers to buy collectable coins instead. "It's hard to determine what the government will do," said Carter. "I don't know whether it's a possibility. But [it] has been done before and people are concerned. Many people are paralleling 1933 to today."
(Excerpt) Read more at abcnews.go.com ...
It was one of the weakest investigations I have every seen and George Stephanopholus (sp) was interviewing the VP of Goldline trying to grill him and George and ABC just looked silly.
First of all they put a headline on the story saying Glenn Beck endorsed. They also said at the beginning of the story that Fox News personalities also endorsed and they mentioned Mike Huckabee and Glenn Beck.
One guy come on and says he bought $5K in gold and could only sell it for $2,700 at the pawn shop. I could not believe that this was their basis for a story. Anthony Weiner came on also and started to bash them. ABC says there would also be hearings on this in Congress.
You know that the Democrats are in huge trouble if they are trying to invent stories like this but expect more from the Democrats in the coming days.
The scary thing about this story is Obama, the Democrats and the media will continue to bash conservative companies and try to take them out.
Goldline has triple A rating from the Better Business Bureau and has been around for 50 years.
I hope we continue to fight fire with fire because this is going to be a very ugly 2 1/2 years for our country.
Interesting the way they attatch it to Beck as if it were his company.
Kinda like reminding us all of the Cheney/Haliburton connection in stories about BP’s oil spill.
I see MATTHEW MOSK is putting his cloven hoof forward once more.
So, they’ve settled on investigating Goldline for “persuading” customers to buy? I hope they’re going to investigate the company I saw selling silver yesterday. They were trying to persuade also. Which company selling precious metals isn’t trying to persuade? If you’re sucker enough to invest large sums on the basis of a TV/radio advertisement, you’re not the type to do well investing anyway.
Are they investugating the US mint for selling coins at a HUGE markup?
Politically motivated harassment of Beck’s sponsors. Gold jewelry always sells above the market price for gold, and automobiles are constantly hawked as sound financial ‘investments’.
“Interesting the way they attatch it to Beck as if it were his company.”
Exactly! Doesn’t Laura Ingraham and Sean Hannity carry them as sponsors, too?
It’s a vast right wing conspiracy, I tell you! All these conservative talkers have the same sponsors! That’s a little fishy, don’t you think?
Why...that would be like Proctor&Gamble advertising on all the daytime dramas! Sunny D advertising on all the kid shows! I think ABC is on to something big here! /s
(P.S. weirnerfacts.com)
; )
Not if it’s run by the president’s buddies.
It's a friggin' PAWN SHOP!!!!! WTH did he expect -- that the pawn guy would buy it at market value?? How idiotic can people be????
The toymakers are all advertizing on the children’s channels and Santa Claus us their George Soros. LOL
The liberal elites want the government, not the free market, to set profits on all goods. Control, baby, control.
I wonder if they know what the astronomical mark-up is on the bottles of wine the waiters bring to their table in some snobby Beltway restaurant.
Let's have a congressional inquiry on high-end restaurant wine!
Leni
AMEN!!!!
Hilarious that the libtard, idiot-ridden ABC covers “Gleen Beck and Goldline” but a staff full of Bob Schieffer idiots utterly fails in covering the NBP and the racism that is rampant in the DoJ and other areas of lamearse Jack Squat Barry’s administration .... =.=
ABC, among other libtard idiotic news media outlets, is irrelevant.
Funny, I swear I saw a GM ad on ABC the other day trying to persuade me to buy a Chevy truck.
Yeah, I also noticed them heavily running the aimed at ‘Tea Party’crowd Chrysler commerical too..... =.=
Did ABC cover GMs lying commercial where they claimed to have paid all their goverment loans?
ABC excels at sham “journalism.” Goldline has an A+ rating from Better Business Bureau whereas Superior—a smaller and newer company—has an F rating. By lumping them together ABC distorts the truth.
The two hack DA’s in California are either politically motivated or totally ignorant about the differences between bullion units and numismatic pieces. That broadcast journalists are both politically motivated and wholly ignorant goes with out saying.
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