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??
Contact information for companies mentioned:
Goldline International, Inc.
1601 Cloverfield Boulevard
100 South Tower
Santa Monica, CA 90404
Merit Financial Services
1300 4th Street, Suite 303
Santa Monica, CA 90401
Wholesale Direct Metals, Inc.
15200 Sunset Blvd. Suite 202
Pacific Palisades, CA 90272
tel: (866) 925-6626
fax: (310) 454-2194