Sunday, August 1, 2010

The Glenn Beck Gold Scam

The Big Picture published a wonderful graphic describing the participation of Glenn Beck in this unscrupulous gold scam. Lots of people have pitched gold at inflated prices, but old Glenn put his fear of government into it in a slick way.

Quoting a 1933 FDR Executive Order, Beck informed his listeners that the government can in fact take away all your gold EXCEPT ANTIQUE COINS.

A 1/4 oz. proof gold American Eagle has melt value of $285, competitors sell them for $318, Goldline charges $815. If you bought these as a hedge against inflation, you immediately lost 64%. The price of gold would have to soar to $3,200 for you to break even.

What's your opinion? Is Glenn Beck anything more than a carny hustler, really?

Please leave a comment.

1 comment:

  1. Anyone that buys their gold from that deal are nuts.