As reported on before, there may be a conflict of interest in Glenn Beck’s promotion of gold investment companies while fear mongering about the economy and the state of the dollar, not to mention promoting his own investments. Now, according to Daily Finance, it appears that Fox News has taken notice and Beck may be in hot water.

Goldline International features Glenn Beck’s picture on their web site and his voice on their radio ads. Due to being a radio personality who does “live reads,” or live commercials, and a commentator, rather than an anchor, some of the normal contract terms have been relaxed. However, Fox News seems to have an issue with the personal nature of Becks relationship with Goldline. The exemption, apparently, is only intended for the live reads and a Fox spokesperson is discussing the matter with Beck’s agent.

Regardless, many journalism watchdogs have noticed the conflict of interest in taking money from a gold vendor while voicing views about the devaluation of the US dollar. Couple this with the fact that Glenn Beck is a gold buyer and is using his listeners to possibly inflate the value of his own investment. Beck calls Goldline a “top notch organization” – one that is mentioned on Ripoff Report here and here.

Politico reports that another company that has sponsored Beck is Merit Financial Services. The president, Peter Epstein had this to say about their relationship with Fox News:

You pay anybody on any network and they say what you pay them to say… They’re bought and sold.and I could care less what people think of him… We advertise on Fox because it makes the phone ring.” He said gold resonates more with Fox’s viewers because it’s the angry white man audience – it’s the conservative audience. … They are distrustful of the government, of the regime.

In a previous response received from another precious metals investment company, Wholesale Direct Metals, Damon Geller made it clear who their business caters to and why they chose to advertise on Beck’s show.

With all due respect… the product I sell is notoriously partisan and biased. Very few demographics buy physical gold as an investment of as an asset of last resort.  Those that have, have made a lot of money the last 8 years and sleep better at night.  If it wasn’t for FOX I wouldn’t have your business to lose anyway because you wouldn’t even know about my company.  I probably have nothing to worry about anyway because you either have no interest in owning real gold or no $$$ to buy any.  I seriously doubt you are a gold owner/investor.  Do you own any gold?  Or is your money in CDs at the bank earning nothing and just going backward slowly while the federal reserve prints more worthless dollar bills any robs you while you’re not looking?  LOL. [...] Get smart and get some Gold.. or go push your BS agenda on someone stupid enough to care about it. If all the companies in America were all more efficient and successful THAT’s what will build a better America.  Not you fear mongering small business that are trying to keep people employed.  And BTW… EVERY client that has ever bought gold from me has a portfolio that has risen in value… can the stock brokers and bankers of America say that??

Of course, since he called President Obama a “racist” and the boycott started, Beck has lost over 80 advertisers. It’s no wonder these are the types of sponsors to stick around and that Beck is one of their biggest promoters.

Contact information for companies mentioned:

Goldline International, Inc.
1601 Cloverfield Boulevard
100 South Tower
Santa Monica, CA 90404
Phone: 1-877-376-2646
Fax: 1-310-319-0265

Merit Financial Services
1300 4th Street, Suite 303
Santa Monica, CA 90401
Phone 310.394.7577
Fax 310.393.7020

Wholesale Direct Metals, Inc.
15200 Sunset Blvd. Suite 202
Pacific Palisades, CA 90272
tel: (866) 925-6626
fax: (310) 454-2194

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14 Responses to “Glenn Beck’s Conflict of Interest As Gold Investment Shill”

  1. Crowdaddy13 says:

    This should be illegal as well…………most of the economy is run by “confidence” and not the actual value of the dollar. I bet if you just took Fox News off the air the economy would get better. When millions of people hear everyday that the dollar is collapsing and rely on the 3 “G’s”, all that does is hurt all of us. But, thats what Beck wants, he would sacrifice the lives of millions of Americans to prove his point that Obama and the dems are bad politicians.

  2. Sidewinded says:

    Care to report on how many companies have filled the adversing gaps opened by these boycottes? A void will almost always be filled.

  3. FoxNewsBoycott says:

    Sidewinded: The void is being filled with low-cost advertisements (i.e. infomercials and gold investment), free public service spots and commercials for News Corp. owned properties.

  4. opening the doors to other investments…. creating flow for low-cost advertisers on a national scale. that flow allows for their expansion and increase in business…. but then you boycott those folks and another void is created and filled until its filled with people who dont give a flying crap if YOU or people like you dont do business with them. more of a question when the hosts of the show just give up… and i believe their convictions are strong enough that you’d probably have to end up stalking them and creating a fear fueled environment in which you win…..

    probably wont happen by the way…

  5. FoxNewsBoycott says:

    Those companies knowingly support Beck and his hate-fueled violent rhetoric. You mention convictions – the companies that stick with Beck are only after the almighty dollar and do not care if what they support is right or wrong. And, a boycott does not prevent anyone from doing business – they can choose where and with whom they advertise. If we’re talking capitalism, this is a free market economy and if dropping Beck could actually break a company, they should diversify, or they need a better business model. But, that’s not likely to happen based solely on dropping one method of advertising that accounts for around a fraction of a percent of the US population. As for stalking and creating a fear-fueled environment – that begins and ends with Glenn Beck, Fox News and producers like Jesse Watters.

  6. Sidewinded says:

    Never said anything about boycottes eating away at business’. I said the void created by the loss of those advertisers fearing backlash will be filled by lowered adverising prices that smaller companies can take advantage of. As for the fear bit. Don’t think beck hasn’t been targeted with death threats of varying degrees.

  7. FoxNewsBoycott says:

    I read and addressed your comment and added another common angle used by Fox News fans – that we’re out to destroy businesses. That is not our goal. I’m not so naive to think that Beck wouldn’t receive threats (or thinks that he does) – there are nuts on all sides – but his business is built on spreading fear. He knows what he says. It’s all intentional. And he profits from it. To think it’s convictions and not greed is naive.

  8. Monkeydoes says:

    Great commentary. In the early to mid 1980s I worked for one of these companies here in Minneapolis. Investment Rarities International … they are not brokerages they are boiler rooms and the whole goal in 1983 was to scare people with tales of the impending collapse of America, the dollar and the economy and in some cases the pitch would resort to telling people that eventually you’ll only be able to buy food via bartering … the quaint cliche’ was to tell people the ‘golden rule’ … he who has all the gold makes all the rules. I sold bullion and numismatics. The story was always the same, the market is ‘poised’, the Dow will never reach 2500, hyperinflation is just around the corner, etc, etc, etc. The strategy was first you scare them, next offer them salvation and then tell them some made up market performance number and appeal to their greed.

    Thing is the con is the same now as it was nearly 30 years ago … I have a relative who bought gold bullion in 1980 at $690 an ounce … he thinks he is sitting pretty now at $1100 … thing is it took him 28 years to break even and if you include the spread at todays prices it still works out to only 2% appreciation annually on a non-compounding investment and now he is off buying more because the collapse is once again imminent … like I said … the ‘con’ never changes … I left IRI mainly because I knew that everyday I was ripping someone off and my one day commission record was over $15,000 so I made an ‘ok’ living (LOL) it was just simply dishonest and it continues to remain the same.

    That FNC or Glenn Beck is mixed up with this kind of stuff is of no surprise.

  9. Sidewinded says:

    I believe most people are free to choose what to do with their hard earned green. Quite frankly I don’t think I’ve ever heard him say buy gold if you don’t we’re all going to devolve into sludge. He’s advertised gold. Mentioned the option of gold but never whored himself like you seem to think he does. If he is it’s extremely subtle which is probably too smart for the dumb people you think are sucking on fox’s teat.

    Wow it’s been awhile since I’ve heard anyone bitch about his crying on national television. Even barara Walters didn’t make fun of that during her interview with her.

  10. keep up the great work guys…the harder you push the higher our market share climbs

  11. Glenn Beck has been doing their commercials, long before the economy crashed, but I see that wasn’t mentioned in the article. I wont go as far as to say that it hasn’t become a conflict of interest, but a real journalist would tell the whole truth.

  12. Sherri, That still doesn’t change the fact that Beck is a shill for these gold/investment companies, damning the US dollar to line his own pockets. It’s all a scheme and Beck owes his own wealth to these companies who have sponsored him “long before the economy crashed,” even if it means other people make poor investments.

  13. While there is certainly quite a bit of truth to what Glenn says regarding the dollar and the state of the US economy, I think he does lose credibility with the constant hype of investing in gold and his interest in seeing gold rise. He should do the right thing and dump all gold investments if he wants to advertise a gold company.
    .-= Jim´s last blog ..Commission Free ETFs War Heats Up With TD Ameritrade Deal =-.

  14. sidewinded says:

    Apparently its bad to recommend an equitable investment to people. Hey, if you bought even one ounce of gold last year for $1000, you’d have made $400 by the same time this year. On a single ounce.

    Even those who don’t listen to beck but understand the economy were investing in gold.

    How about you question NBC’s ad’s for green everything these days when their parent company GE has significant ownership in NBC and are heavily invested in the production of green products, which has been determined that, while it lowers our energy usage a teeensie bit, would not have any impact on global warming.

    So whats worse, a show advertising a proven solid investment, or a whole network pushing products that their parent company makes that has shown insignificant enough effectiveness in combating global warming (oh sorry, supposed to call it climate change now)

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