Goldline International has made a name for themselves by hiring such celebrities as Sean Hannity, Laura Ingraham, Mark Levin and, of course, Glenn Beck (all right here on the Goldline webpage) to promote their “services.” Notice the lack of liberals. Now, however, Goldline is facing 19 criminal charges.
How to scam stupid people out of their money:
Step one: Convince them that the apocalypse is about to occur and that all of their money will be worthless. Use conservative talking heads lacking in ethics and morals.
Step two: Once your marks are good and terrified, tell them that the only way to survive is to buy a valuable commodity that will become more valuable after the coming global collapse like, for instance, gold.
Step three: Sell the said commodity at a grossly inflated price in a worthless form like, for instance, gold coins.
Step four: Laugh at the sheer stupidity of your marks.
Normally, I wouldn’t necessarily link shady business practices to a celebrity spokesman. If it was discovered tomorrow that George Foreman grills used Uranium 235 in their construction, I would not be inclined to believe that Mr. Foreman himself knew anything about it.
On the other hand, Glenn Beck has spent years and has been paid millions to terrorize his listeners into buying gold coins from Goldline. Not GOLD, gold COINS and that’s where the fraud comes in. Scared listeners would call up Goldline looking to buy gold bullion (straight gold) and were pressured/tricked/lied to into buying gold coins and immediately lost a good part of their investment.
You see, “antique” gold coins are only worth something to other coin collectors. The gold itself is only worth its melt value. In other words, if I have a “rare” $200 coin made out of $20 worth of gold, the coin may be worth $200 but only to someone who wants the coin. If I want to sell the gold it’s still just $20 of gold.
Let me put it another way, Action Comis #1, which has the first appearance of Superman, sold last year for one million dollars. The paper it’s printed on is worth about five pennies.
Goldline sold Superman, customers got toilet paper.
And just in case some brave but misguided soul decides to claim that Glenn Beck never pushed gold coins himself, please, do me a favor and shut the hell up. He knew exactly what he was doing unless he was lying about buying gold coins himself. Either way, he’s a dishonest sleaze, trusted by millions of the weak minded and gullible.
Don’t forget to look for the sequel! Goldline: The Class Action Suit, coming soon to a courtroom near you!