Golden Rule
First thing I want to say is that I’ve never been a fan of Gold or purchasing Gold. First thing to note is Gold is a hoarded precious metal; second thing to note is the last great depression was caused because the United States dollar was backed by Gold. The last thing I want people to understand is the last great depression was caused by DEFLATION and not inflation. In simple to understand terms Inflation is caused when there’s too much of something and deflation is caused when there’s not enough of something.
The last great depression in the United States was caused because the rich took their money out of the system, because the government needed gold to print money at that time the U.S government was basically at the mercy of the rich and powerful, these factors are basically what led to the last great wars although many people will disagree with this statement this is also what lead to the worldwide acceptance of fiat currency.
My GoldLine.com Complaint
Goldline.com has fair prices. I personally don’t use them to buy bullion coins because when I first spoke to one their reps he seemed more concerned with selling me numismatic coins. This really got under my skin because had I not known any better I would have purchased a bunch of coins I did not want or need. From my perspective I would avoid using them to purchase gold bullion coins. On that note I’m going to point out the difference between Gold Bullion coins and Numismatic Coins below.
Gold Bullion Coins vs. Numismatic Coins
I don’t know if they’re doing this on purpose but GoldLine.com at the moment I’m writing this makes it very easy to purchase Numismatic Gold coins, From my perspective they seem more interested in selling Numismatic coins than bullion coins. If your goal is to purchase Gold or silver Coins to protect yourself from a currency crash or inflation DO NOT BUY numismatic coins. Numismatic coins are used like collector items and have no real value in times of an actual currency crash.
If you want protection from a currency crash you want to buy GOLD BULLION coins. When I see Goldline’s bullion prices the first thing that crosses my mind is they’re not concerned with selling Bullion coins. What I find funny is good ole Glenn Beck seems to be endorsing GoldLine. This brings me to my last point this is one of the reasons why I HATE gold bullion as a form of trading – SCAM’S and/or FOOLS Gold runs rampant, if GoldLine’s top priority is selling Numismatic coins they clearly don’t believe there’s any real currency crisis.
Final Thoughts on GoldLine.com
Personally I think people can do better than Goldine, I have silver and gold bullion coins that I’ve bought from other bullion dealers and I have absolutely no complaints. I wouldn’t call Gold Line a scam but I advise anyone to read or call the Goldline customer support before making a purchase from them, it’s just the smart thing to do. In terms of selling Gold Bullion out of 10 I would give Gold line a 5. To me they seem more interested in selling numismatic coins than Bullion Coins.
Where Do I Buy Bullion Coins
I buy my coins at the following two places. For the record I’m not affiliated with either of the two companies listed below nor do I have any vested interest in the success or failure of either of the two companies listed below.
I want to also point out that I’m not a huge fan of Gold I prefer silver. Silver’s actually allot easier to trade and also the silver of the world is running out. Personally I think Gold is overpriced, anyway… I wrote about how much silver people should have in case of emergency for those of you on a budget you might want to consider reading that post before making your silver or gold bullion purchases. If there’s a currency crash (which I think is unlikely) you need silver.
Some other posts you might be interested in are below:
- Fiat Currency vs. Gold Standard
- Was Gaddafi killed because of gold dinar currency?
- Is The Canadian Dollar Backed By Gold
- How Much Silver Should I Own In Case of Emergency
- What does a credit rating downgrade mean to America?
- Will the price of Silver go Up in 2012?
Please leave your comments regarding Gold Line below it helps others.
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Will the Better Business Bureau be listed as a Co-Conspirator in Alleged Goldline Fraud?
We rely on Better Business Bureau (BBB) ratings to create decisions on which organizations to patronize. We have faith that the information and facts we obtain is dependable and accurate, developed for the benefit of the consumer. What a shock, then, it is to discover that the BBB makes it possible for complaints to become erased and rankings to be elevated, if organizations are willing to pay the correct cost.
Goldline International, a North American precious metals dealer, was a solid selection for buyers of gold and silver bullion, coins, and investments – or so it seemed when examining information provided by the BBB. With an “A” rating, shoppers trusted that Goldline provided solid value for high-quality goods. It wasn’t till the organization was accused of a long list of violations by the Santa Monica City Attorney that the BBB finally downgraded Goldline to its lowest score of “F”, while the public found that Goldline has more than 100 complaints on record.
Goldline has been alleged to have involvement in criminal activity, such as bait and switch schemes, grand theft by false pretense, false advertising, elder abuse, and conspiracy to commit all the above. Some of the alleged fraudulent ploys swindled prospects by pulling them in with gold bullion, then encouraging them to reinvest their money in rare coins, charging excessive commission. The industry regular for coin commission is roughly 15% – some complaints claim that Goldline charged 2000% or more.
How then, with so many complaints, did Goldline achieve its “A” status using the BBB? Why didn’t the BBB analysis process out the alleged scam? It truly is now coming to light that the BBB just isn’t solely for the benefit of buyers. Investigators have reported that BBB ratings can be bought, with greater ranking and removal of complaints offered to the highest bidder.
Consider the following BBB info listed for Southern California’s most well-known precious metals dealers:
Goldline International, Inc. F* Rating 73 Complaints
Monex Deposit Company A+ Rating 69 Complaints
Capital Gold Group, Inc. A- Rating 14 Complaints
Lear Capital Inc A+ Rating 55 Complaints
Merit Financial Services A+ Rating 47 Complaints
*Change from “A” after Santa Monica City Lawyer complaint filed.
These numbers are alarming, as consumers recognize businesses with several complaints are nonetheless rated “A+” using the BBB. The Santa Monica City Attorney has filed charges against Goldline executives, such as former CEO Mark Albarian, current CEO Scott Carter, Robert Fazio, Luis Beeli, Charles Boratgis and Stephanie Howard. BBB executives ought to also be held accountable for their role in permitting the enterprise to practice its alleged cheating, by misleading prospects into believing that Goldline was a reputable organization.
Companies will continue to get away with criminal activity, as long as the BBB is allowed to continue its 80-year-old practice of “pay to play”. Until the public actions forward and demand justice, BBB management will continue to profit whilst shoppers spend. Why aren’t these names on the Santa Monica City Attorney’s list?
Stephen A. Cox (aka Steve Cox) – President/CEO
Beverly Baskin – Senior VP
Genie Barton – Vice President and Director, On the internet Behavioral Marketing Program
Rodney L. Davis – Senior VP Enterprise Programs
Joseph E. Dillon – VP and CFO
Victoria Doran – VP Brand & Digital Media
Chris Garver – Senior VP, Chief Data Officer
Frances Henderson – National Director, Privacy Initiatives
Susan Kearney – Senior VP & Chief Marketing Officer
Wayne J. Keeley – VP & Director, CARU
Elaine Kolish – VP & Director Children’s Food & Bev
Andrea C. Levine – Senior VP, NAD
Brenda Linnington – Director, BBB Military Line
Peter Marimello – VP, Electronic Retail Self Regulation Plan
C. Lee Peeler – EVP & President NARC
Steven Salter – VP, Standards & Services
Anaise Schroeder – VP Human Resources
H. Art Taylor – President & CEO, BBB WGA
Mary Lou Watkins – Senior VP, Chief of Staff
Bennett Weiner – VP, CBBB & COO, BBB WGA
Richard Woods – VP, General Counsel
Vincent L. Gottuso – President, Southland BBB Office
Mary Lou Diaz – Director of Consumer Services, Southland BBB Office
Mr. Tom Bartholomy – President/CEO
Ms. Janet J. Robb – President
Ms. Jan Quintrall – President
Mr. Matthew Fehling – President
Mr. Edward J. Johnson, III – President and CEO
It is now time to take action to protect ourselves. Make your voice heard by taking these methods:
Write towards the BBB: Send your complaint letter to the Council of Better Business Bureau, 4200 Wilson Blvd, Suite 800, Arlington, VA 22203-1838 – Phone: 703-276-0100 – Fax: 703-525-8277
Write to your state Attorney General: Their addresses are listed on your state government’s website, or use your internet search engine to locate. Title your complaint Deceptive and Unfair Trade Practices by the Better Business Bureau.
Write to the Federal Trade Commission (FTC): Complaints are easily filed on the web at https://www.ftccomplaintassistant.gov/.
This is a violation of every American’s trust. We ought to work together to send our message, and put the Better Business Bureau out of small business.