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View Diary: this is just too delicious to let slip by unnoticed! (87 comments)

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  •  the sad thing is that by playing to the (18+ / 0-)

    fears of people, goldline and beck and company cheated them.

    the older gentleman was trying to buy bullion - it sells for a flat fixed rate per troy oz - and is sold for a fixed discount on that rate.  the sleazy salesman/woman talked him into the devalued coins instead - even though he kept saying he wanted bullion.

    i have a friend who always bought gold coins (when the price ranged from $250 - $300.  he sold the coins when he needed money - and he always made a fair profit by choosing when to sell.  it USED to be a decent investment if you bought from reputable dealers.  goldline (and beck, hannity, etc.) are not.

    not all their customers come from fox/beck/etc.  they advertise in many venues that appear "legit" - so good people got snookered.

    like all republican scams, though, the ones who got hurt the most were the most vulnerable.

    thanks to the santa monica attorneys and customer protection unit, this company has been held accountable.

    they still aren't admitting wrong-doing, however.  they've glibly announced that "all charges have been dropped" without mentioning their $4.5 million settlement!

    EdriesShop coupon code for february is FEBRUARYBLOWOUT. More to come in the next few days! - Is GlowNZ back yet?

    by edrie on Thu Feb 23, 2012 at 01:11:20 AM PST

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    •  i'll admit i was being cynical. (11+ / 0-)

      Hell yeah.  And yes it does suck when some older person gets snookered into this shit, particularly for a large sum of money they'll need to live on, or that they could have bequeathed to their offspring, who may not be right-wing nuts.  

      And yes, it used to be possible to invest in a lot of things, before the overpopulated economic ecosystem gave rise to more parasites and predators than a trip through a malarial swamp full of mosquitos and alligators.  To my mind the most worthwhile investment for anyone of working age, is in their skills (see also community colleges: very affordable) and in their tools (good tools are worth the extra cost).  In other words, hard work still wins at our level in the economy.

      As for "admitted no wrongdoing," that's disgusting and it ought to be revoked by legislation.  No settlements without a full admission of wrongdoing.  Not necessarily an admission of having committed the crimes that were charged (after all, juries and trials etc.), but at minimum an admission of having done unethical behaviors.  "We were wrong, we bilked a bunch of old people" etc.   And make them put it on their web pages and advertisements.  "We were wrong, we bilked people, but we paid a stiff penalty and we've promised to do business ethically from now on."

      F--- 'em if they end up going out of business due to that, they damn well should.  Liquidate all of their assets, liquidate the personal assets of the principal owners & executives.  And then all the people involved should be kept under some kind of surveillance, at least as far as having to report whatever employment they have for ten years after that.  So if they try to start another scam, whoever is watching them can catch them before they cause any more damage.

      Really.  Con artists are scum and they deserve to be stripped of everything they have, if nothing else as a deterrent to others.  As for the biggest ones (Goldman), nothing short of long prison terms will do, and they can be glad when they get locked up in cages rather than torn limb from limb by angry crowds of their victims.  

      "Minus two votes for the Democrat" equals "plus one vote for the Republican." Arithmetic doesn't care about your feelings.

      by G2geek on Thu Feb 23, 2012 at 01:34:32 AM PST

      [ Parent ]

      •  that's why i hit up their facebook page... (9+ / 0-)

        there is a federal oversight agency now watching them and they have to record ALL sales calls and disclose their profit margins on their "coins" as part of the settlement.

        something tells me their sales are going to plummet like newt's approval ratings!

        i agree with you about scam artists.  they are the bottom of the sewage tank!

        EdriesShop coupon code for february is FEBRUARYBLOWOUT. More to come in the next few days! - Is GlowNZ back yet?

        by edrie on Thu Feb 23, 2012 at 01:44:20 AM PST

        [ Parent ]

      •  Skills and tools are good. (9+ / 0-)

        However, some people are incapable of learning skills or using tools.  They lack the requisite appreciation of process and cause and effect, or even just the small muscle co-ordination to handle a tool. Some people are bereft of all practical talents and have to rely on their gift of gab to cajole or exact what they need to survive. And, if they don't have the gift of gab with lets them ingratiate themselves or flatter their betters via imitation and repetition, all that's left is theft.  Which is why we have petty crooks in prisons and major crooks in gated communities. Which is worse or better?

        Anyway, the people who got suckered are obviously the kind who derive satisfaction from what I call "gilt by association."  The bask in the reflected glory of famous people.  "I bought gold on the recommendation of Glenn Beck" is a sentence they like saying to their friends and neighbors.  It made them feel good, until it didn't.

        People to Wall Street: "LET OUR MONEY GO"

        by hannah on Thu Feb 23, 2012 at 02:31:54 AM PST

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        •  ooh, nice one: "gilt by association" (10+ / 0-)

          Yes, con artists lack practical skills.  Though they could as easily have gone into any legitimate line of work that involves persuading others, for example legitimate sales activity.  Competent sales staff are an asset to any legitimate business.

          This is something I have never understood:

          There is a whole layer of the criminal world who are not oppressed minorities without options, not economically disadvantaged to start out, not kids with attitudes doing mildly naughty stuff for thrills, and not looking at Goldman-like sums that would screw up most peoples' objectivity in five minutes.

          These are people with enough advantages and access to capital that they could as easily have gone into business doing anything legitimate, and earned a decent fortune doing so.   But instead they go for the scams and all that shit.  It makes no sense.   Any extra money they get from that, comes with the price of constantly having to look over their shoulder to see if the cops are closing in.  

          It's as if they have some kind of brain defect, and in all probability that's what science will ultimately find, because there's no good explanation for their behavior otherwise.

          "Minus two votes for the Democrat" equals "plus one vote for the Republican." Arithmetic doesn't care about your feelings.

          by G2geek on Thu Feb 23, 2012 at 03:55:07 AM PST

          [ Parent ]

      •  you're GOOD (1+ / 0-)
        Recommended by:

        when you're mad. me likey.

        Addington's perpwalk is the trailhead of accountability for this wound to our national psyche.

        by greenbird on Thu Feb 23, 2012 at 05:49:46 AM PST

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