east coast bias

This handy chart shows the dishonesty behind a lot of these ‘Buy Gold’ campaigns, specifically Gold Line, which Glenn Beck pimps for but this somehow makes him more of a common man.

See buying gold and buying antique gold coins is not the same thing, but Glenn and Goldlinedon’t tell you that. Goldline will sell you antique gold coins at an incredible markup. Instead of acting like a hedge against inflation, you are instead joining the incredibly sexy world of coin collecting. The worst part is, Goldline and Glenn sell this as a way to protect yourself versus a misinterpreted law passed by FDR in 1933. Back then, people were hoarding gold because of the Depression (seeing some odd parallels today) to avoid a continued deflationary spiral, FDR passed a law asking US citizens to sell all their gold above five ounces. People obliged, no charges were ever brought against people who did not sell their gold and in fact one man sued the government and one. But today it is a sales gimmick, see antique coins were exempt and therefore the Obama government can’t kick in your door and take away your awesome collection of gold french coins. The final kick in the pants, customers on average lose 62% of their investment after they hang up the phone.

The graph below is a dynamic flow chart demonstrating the stream of bs emanating from a paler Joe McCarthy with endorsement deals.

Infographic by The Big Picture