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 Replies: 19 / Views: 3,332 |
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Pillar of the Community
United States
632 Posts |
Quote:
He says the statements kept coming, but the gold coins didn't. Rediculous..... |
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Pillar of the Community
United States
1081 Posts |
The guy should be punished to the fullest extent of the law, however, the people were too gullible and partly to blame. The article didn't state how long the waited for the coins, but you demand them or take him to court. An account statement means nothing. It also goes to show not to be friends with investments.
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Pillar of the Community
United States
1064 Posts |
Very scary, kinda like the Bernie Madoff of gold - similar to Bernie's victims, these gold investors might be guilty of letting larger-than-reasonable profits cloud their judgement. Very sad, seems like for every dollar you have, there's someone out there that will take it from you...
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Pillar of the Community
United States
4008 Posts |
Well, guys, it really does take two to Tango... one gullible and one duplicitous. I feel very badly for those who are ripped off, especially when something as important as a person's retirement plan / life savings are involved. Recall that in Dante's Inferno, the 9th and most horrible level of he|| is reserved for "the betrayers of trust". I hope that these folks do get at least some, if not all, of their money back. The FBI, IRS, and the USPO can bring a lot of legal horse-power to bear on people who rip others off. If this "Jim" character wants to see the outside of a prison cell before he dies, he better get real sincere about making restitution. I know that this will not help those who were robbed but it will at least prevent any further robberies.   |
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Pillar of the Community
United States
4008 Posts |
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Another reason why if you don't hold it, you don't own it! While there is some truth to this, it is difficult to make such blanket statements that can truthfully cover all possible situations. In my case, for example, I invest in a number of stocks, bonds, mutual funds, and PMs. I don't really hold any of these, with the exception of a small amount of silver that I am collecting. The rest are in 3 brokerage accounts with large nationally known financial custodians. I am pretty sure I can deal safely with them because they manage many billions of dollars and cannot afford the notoriety of fooling around with other people's money. They earn huge amounts of money managing the money that people deposit with them and the last thing they need are law suits and additional government scrutiny. After dealing with these companies for 20-30 years, I have not had a single problem getting an accurate accounting of my money, making transfers of money in and out of their system, or in getting checks drawn on my accounts sent to me. For the very reason of this topic, I would not invest with anyone who did not have more to lose by fooling around than I have by investing with them. OneBowl had a great reply to this topic. It is excellent advice for anyone looking to invest without getting ripped off.  Edited by Ed_B
04/29/2011 5:58 pm
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Pillar of the Community
United States
931 Posts |
Several months back I bought my first one ounce gold coin from a big dealer. After three weeks had passed and no gold, I called him up and told him that I had a $35,000 IRA that I wanted to invest with them. He called me the next day to give me a tracking number for my gold Eagle. I received it the very next day, but my IRA money is not headed his way any time soon. I began getting that same feeling on another ouncer recently, but that one worked out just fine without any trickery. After that first time I guess I was a little paranoid. I wish all transactions went smoothly like most of my ebay purchases do. Vinny, if you don't mind my asking, what happened when you were ripped off? Edited by junior e
04/29/2011 8:34 pm
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New Member
United States
25 Posts |
This will probably be happening a lot. Gold is in right now and investors are going to sucker the innocent. I see it a lot with the elderly who are all too forgiving. So rough to see it happen to them when they work so hard for their money But like another poster said, invest little. That's what I'm doing right now. I'm at a young age and by saving little by little, I feel I'm doing the right thing.  |
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Pillar of the Community
United States
3670 Posts |
Russian roulette is all buying online is, esp if is not a trusted dealer. I feel for any that has been ripped off, as that could happen to any of us, via buying fake, buying from a no sender, what ever....
As cliche as it sounds, I try and follow the golden rule treating others the way you wanna be treated. And like Ed mentioned Dante's inferno, I do hope a place of suffering is set aside for those that steal from the good with no thought or feeling of guilt even for their actions. Karma will get them before it is over....
Edited by Silverhawk74
04/30/2011 03:09 am
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Pillar of the Community
United States
648 Posts |
My gold rule is very simple and effective. When I hand you my money, I want my gold.
No online forms, no Craigslist, no shipping address or credit card / wire transaction and finally no BS.
I do these type of transactions at my local dealer and the coin shows where they stand behind what they sell.
Edited by tripncoins
04/30/2011 11:26 am
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Pillar of the Community
United States
4008 Posts |
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After that first time I guess I was a little paranoid. - Junior I would not call that paranoia. I would call it good sense! People need to be in closer touch with their feelings. Any number of times during my life, I have "had a bad feeling" about something or other and each time there was a problem just waiting to unfold. It is likely that there are tiny sub-conscious indications of such things in progress but our conscious mind simply does not process them into a clear warning... but our sub-conscious mind sure does. We really do need to pay attention to that. |
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Pillar of the Community
United States
4008 Posts |
Quote:
Gold is in right now and investors are going to sucker the innocent. - Collecta83 Oh, PLEASE! "Investors" do not sucker or rip off anyone. Thieves do that. Let's keep the nomenclature straight here. I am an investor and have never cheated anyone... ever. I fully plan to keep that record intact. Been at it for 30+ years, so it is pretty much a habit with me by now. I know that there are people out there who do lie, cheat, and steal but simply being an investor does not make a person do those things. They are like that well before they pretend to be investors. |
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Pillar of the Community
United States
4008 Posts |
Quote:
I do hope a place of suffering is set aside for those that steal from the good with no thought or feeling of guilt even for their actions. Karma will get them before it is over.... - Silverhawk No doubt, Silverhawk. I really appreciate the concept of karma and the Oriental philosophies that adhere to this concept. It is all part of their concept of balance. Life is a circle to them, so any bad things done to someone else have a way of also happening in one way or another to the person committing the original bad act. My son and I were having a philosophical discussion during the time when Bill Clinton was having all kinds of difficulty over this sexual escapades. My son asked, "Dad, what is the primary difference between people like us and the president?". I thought about it for a moment and said, "Well, it likely boils down to this. We fall asleep each night praying that there is a He|| for all the people in the world who do bad things and he falls asleep each night praying that there isn't!".  |
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New Member
United States
25 Posts |
Way to completely miss my point. Perhaps I should've worded it "greedy investors" and I see how the regs treat the new coin collectors in this "best coin collecting forum on the internet". I'll be taking my interests elsewhere.....
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Pillar of the Community
United States
4008 Posts |
Quote:
My gold rule is very simple and effective. When I hand you my money, I want my gold. - Tripncoins There is nothing whatever wrong with that approach. I have used it myself in many instances. I feel OK buying via Internet from the BIG bullion dealers who have solid reputations for consistently delivering the goods at a fair price. I would not feel good about buying from anyone on Craig's List, even though most are probably honest. I also would not buy from just any old Internet site that claims to be a bullion seller. I did a lot of research on APMEX before making my 1st order with them. I am also researching Provident Metals and they seem to be good too. I am used to researching before buying and have been doing investing for a long time now, both via US mail and more recently via the Internet. Thankfully, I have had no problems with anyone trying to cheat me. I've been careful but there is always a chance that it will happen someday. |
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Pillar of the Community
United States
4008 Posts |
If you make your points clearly, there will be no need for recriminations. I hope that you will reconsider leaving. That was not MY point at all.
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Replies: 19 / Views: 3,332 |
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First Page
Posted 04/29/2011 3:06 pm
