As gold scams pop up around the country and world we are providing you information in order to help you avoid becoming a victim of the scams. This time around it’s not the precious metal dealer that is scamming you. It’s the one rating the deceitful precious metal dealer.
Peter Schiff talked this month on his show on SchiffRadio.com about a suspicion he had about the Better Business Bureau (BBB) and their rating system. The gold scam of the year was undoubtedly the GoldLine fiasco, and with their trial taking place this month in Santa Monica, Peter decided to check and see what happened to their BBB rating. They were originally listed as an A+, now no rating existed at all. No F’s, not even a C! This wasn’t because they were disqualified all together from the site for their obvious fraudulent activity…the site’s reason for no rating was that there was “not enough information” to rate this company. HA!
It’s not just the U.S. that is plagued with the cheesy gold-buying commercials and ridiculously priced gold coins. Canada also deals with their fair share of gold scams. With the Cambridge House Resource Investment Conference around the corner in Vancouver, BC, it’s important that BC’s Better Business Bureau has created a Top 10 Scam List for 2012. And surprise, surprise…guess what made the top of the list? Gold scams.
As a con artist, you’ve come along way to take the cake in a contest that most businesses would like to come in last place for. Since gold’s stellar performance over the past couple of decades, criminal activity within the business is moving relatively higher. A correlation no one can ignore. With big money, comes the bigger scams.