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A Fool and His Money Are Soon Parted
The authors of the included article, Jeremy B. Merrill and Hanna Kozlowska, explain the pitfalls of investing money in gold and silver coins offered by companies advertising on right-wing media. It appears these less-than-stellar businesses “spend millions of dollars a year to reach viewers of Fox, Newsmax and other conservative outlets.”
One fool who was parted from his money due to this particular scam was “Terry White, a disabled retiree from New York. In 2018, White invested $174,000 in the coins, according to a lawsuit by the New York attorney general - only to later learn that Lear charged a 33 percent commission.”
“Over several transactions, White, 70, lost nearly $80,000, putting an ‘enormous strain’ on his finances, said his wife, Jeanne, who blames Fox for their predicament: ‘They're negligent,’ she said. A regretful White said he thought Fox ‘wouldn't take a commercial like that unless it was legitimate.’”
For White’s wife to blame FOX Noise, Newsmax, etc. for her husband’s serious failure in his own due diligence is a typical reaction by conservatives. In this instance, White was the fool parted from his money. Perhaps this lesson will force other right-wingers to consider, “A fool and his money are soon parted”, and other old adages like: “Caveat emptor or "Let the buyer beware", and “If something sounds too good to be true, it usually is.”
finance.yahoo.com
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A Fool and His Money Are Soon Parted
The authors of the included article, Jeremy B. Merrill and Hanna Kozlowska, explain the pitfalls of investing money in gold and silver coins offered by companies advertising on right-wing media. It appears these less-than-stellar businesses “spend millions of dollars a year to reach viewers of Fox, Newsmax and other conservative outlets.”
One fool who was parted from his money due to this particular scam was “Terry White, a disabled retiree from New York. In 2018, White invested $174,000 in the coins, according to a lawsuit by the New York attorney general - only to later learn that Lear charged a 33 percent commission.”
“Over several transactions, White, 70, lost nearly $80,000, putting an ‘enormous strain’ on his finances, said his wife, Jeanne, who blames Fox for their predicament: ‘They're negligent,’ she said. A regretful White said he thought Fox ‘wouldn't take a commercial like that unless it was legitimate.’”
For White’s wife to blame FOX Noise, Newsmax, etc. for her husband’s serious failure in his own due diligence is a typical reaction by conservatives. In this instance, White was the fool parted from his money. Perhaps this lesson will force other right-wingers to consider, “A fool and his money are soon parted”, and other old adages like: “Caveat emptor or "Let the buyer beware", and “If something sounds too good to be true, it usually is.”
How right-wing news powers the 'gold IRA' industry
Dedicated viewers of Fox News are likely familiar with Lear Capital, a Los Angeles company that sells gold and silver coins. In recent years, the company's ads have been a constant presence on Fox airwaves, warning viewers to protect their retirement savings from a looming "pension crisis" and...
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