Thread: Glenn Beck, Goldline and the Enemy of the State

This opinion piece should not be interpreted as professional investment advice, and all opinions are those of the author. On recent FOX TV broadcasts, Glenn Beck expresses the view that the "New Deal" policies of President Franklin Roosevelt made the effects of the economic Depression of the time worse rather than better.

Glenn Beck, Goldline and the Enemy of the State
Tuesday, 25 May 2010 11:14 PM
By: Christopher Ruddy

Congressman Anthony Weiner’s inane attacks on Glenn Beck and the gold coin dealer Goldline make me think there is some other agenda at work.

Though Weiner has named Beck and the company he endorses, Goldline, he has also made clear that Goldline is just one of several gold coin companies overcharging their customers. He argues that if an investor were able to smelt their gold coins, the actual value of the pure gold metal itself would be far less than the cost of the coins -- sometimes as much as half the cost companies like Goldline charge.

Weiner’s view is naïve and ignores the fact that many of these coins have intrinsic value as a collectible, just as an antique would.

Those who own such gold coins — I am one — recognize the value of the coin is not just in the gold. Imagine saying an antique car that sells for $250,000 is really worth about $500 — because that’s the actual value of the metals that make up the car if it were ever junked.

One target in this controversy is Glenn Beck, who the Obama and Congressional Democrats don’t like.

But that’s just one part of the equation. They really detest gold, especially as an investment vehicle.

Beck could just be the convenient punching bag for their real target, the gold industry.

As Politico reported, Weiner plans to introduce legislation requiring “precious metal retailers to fully disclose all their fees, how much the price of gold would need to rise in order for their customers’ investments to yield a profit, and the purchase price, melt value and resale value of the metal that constitutes their products.â€

Goldline is a sponsor of the Beck show and has a favorable rating from the Better Business Bureau. Beck's responsibilty ends there.

[quote]Anthony Weiner’s AAA Rated Attack on Beck and Goldline: Amateur, Arrogant and Asinine
by Andrew Mellon

Anthony Weiner honed his political craft working for New York Senator Charles Schumer, and it shows in his recent attack on Glenn Beck and his sponsor Goldline.

Weiner and his comrades’ views are well reflected when he says in his Goldline Report:

…during troubling economic times it seems there is always someone ready to take advantage of the situation and profit from people’s fears.

In the past there is always the “productâ€