While gold, silver
and platinum are risk-free the precious metals industry contains both
sterling actors and unscrupulous shysters. All are trying to make a profit
which, if done morally, is commendable. The Glenn Beck and Goldline issue
raised by Mr. Weiner is nonsense. But as a purchaser I want to get the best
value. Oftentimes an ounce of prevention is worth a pound of cure.
GLENN BECK AND
REPRESENTATIVE WEINER
Representative
Anthony Weiner was first elected in 1998 to the New York 9th District and
roosts on the Energy and Commerce committee and Judiciary committee. His top
campaign contributor is ActBlue at $44,500 and his #2 campaign contributor is
M&R Management with $19,200. ActBlue describes themselves as
‘the nation’s largest source of funds for Democrats’.
CBS News recently
reported,
Weiner accused Beck
and other conservative spokespeople (among them Mark Levin and Fred Thompson)
of using “their shows to prey on the public’s fears of inflation
and socialist takeovers while actively promoting the purchase of gold coins
as insurance against this purported government overreach.” …
Weiner, who is on the
House Subcommittee on Commerce, Trade and Consumer Protection, says Beck
“should be ashamed of himself.” He has written letters to the SEC
and FTC asking them to investigate Goldline and is proposing legislation to
force the company to “fully disclose their dishonest business
practices” by showing consumers “their astronomical markups, and
deceitful promises of profitability.”
Mr. Weiner may want
to tame his defamatory
tongue where he is asserting that Goldline engages in ‘dishonest
business practices’ and ‘deceitful promises’. If these assertions
are false and a reasonable investigation would cause the reasonable person to
conclude that Goldline were not involved in dishonest business practices or
deceitful promises then Goldline should consider suing Mr. Weiner for
defamation. Think of all the free publicity!
After a reasonable
investigation the facts appear to reveal that Goldline’s customers,
unlike those of Monex who has an F with the BBB, are pleased with the company’s
business practices and there appears to be no evidence of anyone, besides Mr. Weiner who is
probably not a Goldline customer anyway, claiming that Goldline has acted in
a dishonest or unscrupulous way.
But perhaps this is
to be expected language from those defaming ilk like Mr. Weiner. Where does
ActBlue get their funding? One example is Martin Matthews the Director of Government
Affairs for Merck & Co. who gave ActBlue $750.
And what does Merck & Co. do for business?
On 6 October 2004 The
Wall Street Journal reported,
Merck &
Co.’s arthritis drug Vioxx may have led to more than 27,000 heart
attacks and sudden cardiac deaths before it was pulled from the market last
week … citing a study by the Food and Drug Administration, said that
from Vioxx’s approval in 1999 through 2003, an estimated 27,785 heart
attacks and sudden cardiac deaths
WebMD Health News citing a recent
study published in the Archives Of Internal Medicine asserts ‘Merck
should have known Vioxx was deadly years before they pulled the drug from the
market, a study of Merck’s own data suggests.” And where did
those profits from Merck’s sale of Vioxx go? Into Mr. Weiner’s
campaign pocketbook. And how does he use them? As a bully pulpit against
profitable companies with a sterling BBB reputation.
GOLD AND SILVER
DEALER REVIEW
best value being (1)
credible and reputable and (2) having the best prices.
While I consider RunToGold a fun
hobby I also require it to be self-sufficient since that is the only way to
ensure it will be sustainable. While it is fun I will not allow it to be
black hole on my balance sheet. Fortunately, sales of The Great Credit Contraction and donations
from readers like you have been sufficient to provide for the thousands of
dollars of cash costs associated with its operation. Free speech can be quite
expensive!
Over the years with RunToGold
I have been approached by many gold and silver dealers, including Goldline,
about advertising but I never found the right fit. While I had my own sources
for purchasing bullion, not numismatic coins, and I recommended those
companies when asked; for the most part I have shied away from publicly
endorsing any particular company besides GoldMoney
because to do so requires me to stake some creditability and why should I?
But I am finding that
many readers are reporting back to me with both good and bad accounts of
interactions with gold and silver dealers. Consistent with the ounce of
prevention rule I have undertaken to pool the collective experiences of my
readers along with my own so that I can direct new readers who decide on buying gold, silver and platinum towards a provider
that offers the best value
being (1) credible
and reputable and (2)
having the best prices. This is an example of what I found:
GAINESVILLE COINS
mention RunToGold and
you may get a shipping discount
So who is Gainesville Coins? I had never heard of them
before a few months ago when one of my readers, V.B., strongly suggested I
investigate them. She had earlier asked me for advice on who to buy about
$50,000 of bullion from and I had suggested A****. She did further research
and bought from Gainesville Coins because she
could drive down and pick up the order.
I likewise made an
order, drove down to pick it up and found it a tremendous value, especially on lower dollar amount
purchases. Additionally, I talked with the owners and if you call and mention
RunToGold then you may get a shipping
discount or use the discount code ‘RunToGold‘ on the website
and, if they have any left, a postcard of the Liquidity Pyramid.
CONCLUSION
Owning gold, silver
and platinum is something every responsible person should do. When deciding
who to buy bullion from I can now confidently recommend Gainesville Coins if you want possession or GoldMoney
if you want a third-party storage service. I think both forms are wise.
Additionally, I would
shy away from taking any advise from Mr. Weiner. So long as the transaction
is voluntary, unlike those Mr. Weiner engages in like voting YES on the
Health Care Bill to give Merck more money from involuntary premiums, I am
more concerned with the number of ounces the buyer gets. With Gainesville Coins I am confident you will, in
the vast majority of transactions, get more ounces than when buying from any
competitors. Of course, do your own due diligence.
DISCLOSURE: Long physical gold,
silver and platinum with no interest the murderous Merck (MRK), problematic
SLV or GLD ETFs or the platinum ETFs.
Trace Mayer
RuntoGold.com
Trace Mayer, J.D., holds a degree
in Accounting from Brigham Young University, a law degree from California Western School of Law and studies the Austrian school of economics. He works as
an entrepreneur, investor, journalist and monetary scientist. He is a strong
advocate of the freedom of speech, a member of the Society of Professional
Journalists and the San Diego County Bar Association. He has appeared on ABC,
NBC, BNN, many radio shows and presented at many investment conferences
throughout the world.
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