Former Goldline Salesman Told ABC That Sales Reps Were Pushed To Ask For Retirement Funds

goingbroke

Goldline Customer Testifies He Lost $60K When Goldline Urged Him To Turn IRA Into Gold Coins Text

mrearlygold

Frankly I think the medical profession needs investigation. Just TRY to find out ( without hiring a private investigator ) about this poor neurologist.

That said, I called Goldline. I think I reported it after I made the call. Before I got off the phone with their phone jockey I told him point blank he belongs in jail.

Lastly, I find it interesting that it take a politician from NY to track down these scams in California. Two bankrupt states that most of the politicians should be jailed . However, now that NY is the origination point for an investigation in California, are we now to expect an investigation in NY originating in California?

goingbroke

60K is one hell of a premium!

mrearlygold

<< <i>60K is one hell of a premium! >>




When I called it was in response to an email offering of russian 5 ruples. Was told they were "sold out" but that they had 10 Ruples for only $550. That's when gold was hovering around $1100 or less I believe.

jmski52

It takes some work to lose $60,000 on gold in a gold bull market. I fault the neurologist for not doing his due diligence. That doesn't make their sales tactics any less odious however.

roadrunner

Goldline Customer Testifies He Lost $60K When Goldline Urged Him To Turn IRA Into Gold Coins

I can't fault the basic premise line they've used. I too switched 50% of my IRA into gold and PM's related items back in 2004.
And had the good doctor turned his entire IRA into low premium to melt gold coins, he'd have done well. His problem was not investigating pricing to know what he was getting. That would be like a patient going to the first neurologist and accepting whatever price they tossed out at you.....could be high by 50-100% vs. others in the same area with the same expertise.

The amount of customer markups in the jewelry trade is obscene. So that would be a much better place to start an investigation than in the gold industry. But while they're investigating Goldline for shoddy practices don't leave the $Cash4Gold guys and local merchants out of the picture as they're buying gold scrap for 20-30c on the dollar in most cases. Why not spend some time and find out where the missing $50 BILLION from HUD went to a few yrs back or a similar amount that the armed forces "misplaced" over in Iraq. This Goldline deal probably involves less than tens of millons of dollars. Where are the priorities?

And wasn't GW Bush trying to get his hands on our retirement funds a few years back? Was there an investigation? Do you think the govt would do a better job of managing your $$?

roadrunner