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Fools Gold: Inside the Glenn Beck Goldline Scheme

FOOL'S GOLD WTAL -AVS THE GLENN BECK GOLDLINE SCHEME Coilug INSIDE THE GOLD STANDARD GOLDLIN MEANS GOLD BACKED PAPER S /FOX The One Thing Goldline sponsors the Glenn Beck Radio Show and becomes an advertiser on the TV program. thanel MOST TRANSPARENT ADMIN IN HISTORY Glenn Beck personally endorses Goldline. "Call Goldline, study it out, pray on it. They're not going to pressure you. Trust the people at Goldline." Glenn Beck pitches the destruction of the dollar and other 'doom and Glenn Beck cites the 1933 executive order FDR issued gloom' scenarios. "100% guaranteed hyperinflation like Zimbabwe." claiming the government will "take all your gold" except antique coins. This means buy gold coins. This means buy gold coins from Goldline. This means buy gold now. Bullion and bullion coins have little or no value beyond their metal content. They are mass produced and certified. Customer calls Goldline looking to buy gold as an investment or hedge against inflation. Numismatic coins may have additional value due to age, condition and rarity. They are primarily for coin collectors. People buy numismatic coins because they are rare works of art. They also sell them back to other coin collectors. Gold numismatic coins have additional value (and cost), which is entirely useless in a financial collapse if you have to either melt down your rare coins (losing all additional value) or try to find someone buying rare coins at that time. Krugerrand 91.67% 22ct First minted in 1967, the Krugerrand accounted for 90% of the gold coin market in 1980. What they should be buying is gold bullion or gold bullion coins. NE GOLD 20 Franc French Rooster 91% 22ct Canadian Gold Maple Leaf 99.99% 24ct Introduced in 1979, this coin is one of the purest issued. The Royal Canadian Mint even makes a 100kg $2.5M gold coin. Goldline representative pitches 20 Franc French Rooster or other European numismatic coins. "That's what Glenn buys."* Goldline's "most popular" coin is also one of the most common European gold coins and has little, if any, numismatic value. Then why does Goldline sell these Euro- pean coins? Everyone knows and can check the price of gold bullion, but the value in the rarity of a coin is harder to pin down (and easier to inflate). "European coins? I don't know much American Gold Eagle 91.67% 22ct Released in 1986, these coins by law must be made from gold sources in America. about antique coins. I think I would rather have bullion." G3) DEMISE OF THE U.S. DOLLAR? CLOSER LOOK AT CURRENCY CONTROVERSY Executive Order 6102, signed by FDR and authorized by Congress, stated that people may keep about 5 ounces of gold coin and bullion and the rest was to be given to the Federal Reserve Bank in exchange for the market rate, $20.67 per troy ounce. "But the government cannot confiscate your antique gotd coins. Didn't you know about the 1933 executive order?" /FOL ETES BOTH COULD HAVE RECEVED UP TO S TRS In commodities like metals, there is the bid price (the highest price that a dealer would buy your gold for, also called the 'melt value'), and the ask price (the lowest price that a dealer will sell you gold for.) Gold used in industry, art (coins), and jewelry was exempt. Only one person was prosecuted under the order and he got to keep his gold when the case was thrown out. There is always a spread and typically for bullion it can range from 1% to 5%. So if you bought $1,000 worth of gold (ask) you would be able to sell it for $950 (bid). Meaning, the price of gold needs to go up 5% for you to break Customer buys 20 Franc French Roosters for $402 each. The order was set up to combat deflation by preventing gold hoarding and putting that money back into circulation. FDR's gold policy recovered 500 tons of gold, was championed by populists, bolstered the economy and contributed to his land- slide reelection. even. The spreads (and dealer profits) are always smallest with raw bullion and increase with numismatic coins. Customer loses 42% of their investment instantly. GLENN BECK PROGRAM FOX NEWS FABER: U.S. INFLATION TO annel APPROACH ZIMBABWE LEVELS A 2010 investigation into Goldline by Congressman Anthony Weiner discovered that their average markup on numismatic coins was 90% above melt value and 47% higher than their competitors. According to the report, the 1/4 oz Proof Gold American Eagles have a melt value of $285, competitors sell them for $318, and Goldline sells them for $813. If you bought these as a hedge against inflation, you immediately lost 64%. The price of gold would have to soar to $3,200 an ounce for you to break even. It's currently around $1,200.** FOX NEWS JULY '08: ZIMBABWE'S INFLATION GLENN BECK PROGRAM RATE REACHED 231 MILLION % 5:36T NEWS FABER: I'M 100% SURE U.S. WILL GO INTO HYPERINFLATION IVE GLENN BECK PROGRAM FOX Thor GLENN BECK PROGRAM S. INFLATION TO thannel A SOLID Bea 50 REPUTATION THE ORTTER ue 50 YEAR HSTOFY b oF OUR ARATING WITH 3USIMESS BUREAU AND Despite Rep. Weiner's investigation, it is not illegal to over- charge customers. Everyone knows a $2,000 Fendi purse is a grossly overpriced fashion statement, but no one thinks of it as a good 'investment.' The problem is that Goldline is taking would-be gold investors and turning them into coin collectors without their knowledge. When the Glenn Beck version of the financial apocalypse cometh, the last thing you want to be holding is a bunch of antique French coins. CREDIB Fnd eun why Glenn Ben Thanesen EUROPEAN GOLD COINS CHEFerCY, RoricnON, AND DMSITY Oh, those $402 French roosters, Goldline's wholesaler sells them for $240. if you are in the market. brough to you by Serving Precious Metals Investors & Collectors Since 1960 TRUSTED AND USED BY Goldline GLENN BECK INTERNATIONAL INCe 1-866-GOLDLINE OFFICIAL GOLDLINE RESPONSE *Goldline and their sales staff don't direct anybody to buy anything. They spread, which is the difference between its selling price present options and allow investors to make decisions. A lot of their coins 20% for bullion products and 30%-35% for all other are collectibles and that's why many people buy them. THE BIG Mother Jones PIICTURE ** Contrary to other assertions, Goldline's roundtrip Sources: and the price it buys back a product, ranges from 5% to Rep. Anthony Weiner products. These fees are consistent with fees charged on other investment alternatives. Peter Schiff (Euro Pac Capital) Ritholtz.com SOUTH AFRIKA

Fools Gold: Inside the Glenn Beck Goldline Scheme

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This infographic looks deeper into the Glenn Beck Goldline scheme. Read on for more information on this controversial scheme.

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