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At this hour, Weiner is holding a news conference not only to call out Goldline as "a company that uses conservative rhetoric, high pressure sales tactics and tall tales about the future of gold to sell over priced coins that can be bought somewhere else for cheaper," but to ask regulators from the Federal Trade Commission and Securities and Exchange Commission to investigate its tactics.
Weiner's staff investigated Goldline and found that the coins it sells are not the good investment that its salesmen -- who are not licensed investment advisers -- claim that it is to consumers, because the price of gold would essentially have to double beyond its current high to begin seeing any gains. Specially, the investigators found Goldline coins selling for 90 percent above the melt value of the coin, that is, its value by weight. The largest markup seen on a coin, Weiner said, was 208 percent above the melt value.
"In the past there is always the "product" that is either the next big thing (the dot com boom) or the investment that will never go down in price (the housing market), and in the past much of the media has failed in its duty to conduct due diligence, but never before have they worked so hand in hand to cheat consumers," Weiner said in his prepared report. "Commentators like Glenn Beck who are shilling for Goldline are either the worst financial advisers around or knowingly lying to their loyal viewers."
Goldline's high pressure sales tactics and fear mongering about big government as well as their ability to hire sales staff and spokespeople who misrepresent their roles are case studies in why entities like the SEC and FTC are necessary.
The Brooklyn congressman sent letters to the heads of the FTC and the SEC requesting that some of Goldline's more questionable tactics be investigated. In addition, he says he will propose legislation requiring full disclosure of hidden fees, the purchase price/Melt value/Resale value, and how much the cost of gold will need to rise in the value for the customers' investment to be profitable. All common sense ideas.
Originally posted by Vesica
When the economy hit rock bottom...
Here's what i did! I started my own crops and bought me some seeds of various kind, mainly for the fun of it but as far as the foodstorage goes i have enough potatoes for many many years and other organic food.
cucumbers, carrots, onions, pumpkins, potatoes, corn and so on and so on. My land of disposal is aprox 100x75 feet, located on my own property, not much, but ull be amazed how much food you can produce on such small piece of land.
The food is healthy and never ending when you use the new seeds from each crop. I'll make it some what bigger next year and start put some seeds in stock.
When it all come arround i cant probably sell my gold nor eat it. The gasprice might be redicculous high so i cant drive to buy me some pharmacuiticals if needed, hence the organic food for health.
Fresh water might be the biggest problem, maby some decades from now.
Originally posted by hawkiye
Originally posted by bdb818888
reply to post by ElectricUniverse[/
Simple logic Tells us gun control and gun banning is a crock. If gun control worked LA and NY city (which have some of the strictest gun laws in the country) would be some of the safest places on the planet when in fact they are some of the most dangerous. NY City has a higher murder rate the Baghdad.
Your 100 percent on that....it's ridicules that law abiding citizens are not allowed to own firearms in NYC..I recently moved back here from az. After being out of ny for almost twelve years...The crime rate here is way higher then they report..I am constantly hearing of local robberies and assaults..my neighbor is nypd..none of it gets any media attention..there to busy reporting fluff and fan fair..
Gun control does not work..it only leaves a system of 3 .authority ,criminal and victim.
And with all that you can not have a firearm to protect your family.
Originally posted by antonia
Originally posted by ogbert
During the Great Depression, we had massive deflation. In this scenario cash is king and anyone owing money on anything is screwed as the value of the asset is much less than the loan.
... I don't think we are gonna see deflation.
Originally posted by serph
reply to post by Kaytagg
Not sure if about the nefarious plot though I'll entertain all possibilities, but one reason to collapse the system is to clear all the unsustainable debt from the system. The big reset if you will. Then you can start all over again... wash rinse repeat.
Also US goal could be to be the last man standing, so the situation is bad, but the US would still be on "top" so to speak.
No evidence to back it up as they are just opinions.