House Dems now want to protect us from gold dealers

[Delawhere Jack]

This guy Weiner is a real weasel, Waxman needs no comment....

http://seekingalpha.com/article/225579-congressmen-weiner-and-waxman-set-gold-hearing

From the press release: "Under Rep. Weiner's bill, companies like Goldline would be required to disclose the reasonable resale value of items being sold." That's great. Are Mr. Weiner and Chairman Bernanke also going to agree to print on every dollar the reasonable expectation that its value will be eroded by inflation?

[fb101]

Next will be coin dealers.
Next will be......

BTW: Just saw the new avatar. XLNT.

[Ardent Listener]

You won't get any sympathy for Goldline from me. The Republicans can't go after them because Goldline finances their radio propaganda machine.

[Thogey]

You won't get any sympathy for Goldline from me. The Republicans can't go after them because Goldline finances their radio propaganda machine.

I hear that!

But, federal legislation? By that logic we should force car dealers to disclose the fact that if you bought a new car from the dealership, you better use it up or face the fact that you've been FUBARED.

Maybe weiner should start his own gold dealership and compete. I'm sure it's a tough business.

[cesariojpn]

IIRC, this is being brought about because Goldline is being accused of selling numismatic-grade coins instead of physical bullion like in their ads. When people went to sell the coins, they got much lower than what they paid for.

[PennyPauper]

IIRC, this is being brought about because Goldline is being accused of selling numismatic-grade coins instead of physical bullion like in their ads. When people went to sell the coins, they got much lower than what they paid for.

Indeed they have duped folks into buying coins for much more then their worth,using the fear of confiscation and the pre 1933 arguement. I have heard dealers complain about them. And there should be some regulations on their marketing i.e. fair disclosure. But anyone can see Noseman and Weiner are doing it for political reasons.You just know they won't waste a good crisis to try and impose far greater regulations then necessary hoping to cast a bad reputation on all gold sellers to protect the federal reserves monopoly. But their days are numbered and maybe this attention will wake more folks up to the truth.baaaaa

[Delawhere Jack]

IIRC, this is being brought about because Goldline is being accused of selling numismatic-grade coins instead of physical bullion like in their ads. When people went to sell the coins, they got much lower than what they paid for.

Caveat emptor.