MuadDib
He's called The Stig
- Apr 16, 2012
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Glenn Beck is a goldmine for Comedy Central.
And Beck is a goldmine for Goldline International, professional thieves.
As Glenn Beck goes, so goes his favorite gold company. For years, the Santa Monica-based precious metals company, Goldline International, has helped keep the conservative talk show host on the air by sponsoring his radio show and now-defunct Fox News show. Goldline stuck with Beck even after most of his other advertisers fled in light of the host's increasingly inflammatory rhetoric. Beck, for his part, lavishly praised the company, telling listeners and viewers that he personally bought gold from the company and calling its executives "people I trust."
Those were the golden days. Since Beck's Fox News heyday, his fortunes and Goldline's have fallen sharply. Beck parted ways with Fox in June, and in November prosecutors in Santa Monica charged six of Goldline's executives with fraud and accused the company of running a bait-and-switch operation that lured customers into buying overpriced antique coins as investmentscoins that Beck promoted on his shows.
What's wrong with owning physical gold? It's not gold certificates; it's a tangible precious metal that you can hold in your hands and lock up in your safe. If the economy does crash, it will translate into whatever currency replaces it.
Back in the 1930's when FDR made everybody give up their gold, the Feds bought it for $35 an ounce. If those people had hidden their gold and held onto it, it would now be worth about $1600 an ounce.