Steadfast FinancesThe Questionable Connection Between Glenn Beck & Goldline

The Questionable Business Connection Between Glenn Beck & Goldline

Filed in Consumer Education 4 comments

You know how the drill works…

  1. Find a product that allows you 100% deniability and inculpability post sale.
  2. Create a demand for that product (long term organic demand vs. short term disposable demand is immaterial).
  3. Pay the loudest mouthpieces lots of cash to hype your product with some semblance of credibility.
  4. Upsell your highest profit margin products to clueless marks consumers every chance you get.
  5. Close up shop, and move the capital reserves offshore, when the customers no longer believe the propaganda sales pitch.

Marking up one’s prices is fairly common, but Goldline selling gold coins that lose half their value immediately after the sale by hard sell investment advisers who are obviously talking their own book is, well, questionable at best.

[click to enlarge image]

Infographic by The Big Picture

If you enjoyed this post, make sure you subscribe to my RSS feed!
Posted by CJ   @   31 July 2010 4 comments
Tags : , , , ,

4 Comments

Comments
Aug 2, 2010
9:37 am

It is an amazing spectacle to see not only the jump in gold prices, but also the enormous amount of marketing surrounding it. All of the key elements to a bubble are there, yet gold prices continue to press upward.

Also, if you really want gold, it’s not difficult to find at a reasonable price. The local coin shop here has always sold American Eagles at spot plus a small premium. If you don’t want to buy it locally and hold the coins, you can purchase it just as easily in a brokerage account. Either way, I haven’t purchased gold since about $400/ounce and that was in collectibles rather than ingots or Eagles

These ‘specialists’ are laughable, but they’re making money hand over fist so congrats to them…I guess.

Aug 5, 2010
9:46 pm
#2 Matt SF :

testing comment error.

testing 1 2 4

Aug 5, 2010
9:53 pm
#3 Matt SF :

testing investor junkie’s comment error notification.

Aug 6, 2010
10:38 am

“Goldline selling gold coins that lose half their value immediately after the sale”

You have this backwards, it’s gold that’s marked up 100% than the current retail value.

So what is someone buys something more costly? Is it the govt responsibility to prevent people from being idiots? While I question Glenn Beck’s judgement,
should I care no? Replace Gold with Mutual Funds or
Stocks in Barry’s post and you get the same result.

Leave a Comment

Name

Email

Website

Previous Post
«
Next Post
»