Peter Schiff-vid-Glenn Beck Doesn't Know That GOLDLINE Is Ripping People Off!

[TXcarlosTX]

wait for peters last line. its classic. always throwing verbal jabs. ha

YouTube - Peter Schiff: Glenn Beck Doesn't Know That GOLDLINE Is Ripping People Off!!

 

[RSLudlum]

"Maybe it was Linda McMahon"

 

[aspiringconstitutionalist]

I think people buying an ounce of gold for $3000 today are STILL buying it cheap. LOL Unfortunately, it will probably be over $10,000 in a few years.

 

[Dr.3D]

So if they can get an uneducated person to buy the more expensive products, are they really ripping people off? It's up to the buyer to know what he is buying, and not blame the seller if they are so uneducated as to buy the more expensive product and lose their money doing so.

It's called capitalism. When you sell something, you always try to get the buyer to pay as much for it as you can. It's up to the buyer to know enough about what he is buying, to know not to buy something he doesn't really need. I don't see it as a scam exactly. I see stupid people doing what stupid people do.

Caveat Emptor (let the buyer beware)

 

[surGeon]

So if they can get an uneducated person to buy the more expensive products, are they really ripping people off? It's up to the buyer to know what he is buying, and not blame the seller if they are so uneducated as to buy the more expensive product and lose their money doing so.

It's called capitalism. When you sell something, you always try to get the buyer to pay as much for it as you can. It's up to the buyer to know enough about what he is buying, to know not to buy something he doesn't really need. I don't see it as a scam exactly. I see stupid people doing what stupid people do.

Caveat Emptor (let the buyer beware)

I agree, unless they are using fraudulent sales tactics.

I don't think anyone was calling for government intervention here though. Seems like it's about raising awareness, which I can get behind.

 

[aspiringconstitutionalist]

Indeed. I always wince when I hear people (especially libertarians) accuse a private firm of "ripping people off." It's businesses' job to charge as high a price as they can get away with, and it's consumers' job to hunt for the best bargain they can find.

But of course all that changes if businesses are using fraud to convince consumers to buy their product. I'm not sure if Goldline is fraudulent or not, but even so, I agree with the above poster that raising consciousness about businesses charging extremely high prices is all part of the market process--the coordination of information amongst market participants. It's all legit, though it does make me wince sometimes, because I know all too well that these sort of criticisms often lead to unnecessary government regulations.