- The gold and silver investment industry is rife with companies using high-pressure sales tactics to push overpriced, obscure coins with massive markups (sometimes 300-450% premiums), often targeting retirees’ IRA savings.
- These firms heavily advertise on and secure endorsements from major conservative media networks and personalities, leveraging viewers’ trust to lend credibility to their fraudulent schemes.
- High-profile conservative endorsers, despite knowing the sued and bankrupt histories of these companies, continue lucrative sponsorships and refuse to address or warn their audiences about the scams, even when presented with evidence.
- Investors are advised to avoid “exclusive” coins, demand transparent upfront pricing, compare prices with legitimate dealers and trust their instincts to avoid being defrauded.
- The scandal reveals a systemic problem where regulatory action is lacking and trusted media channels are complicit, forcing investors to personally educate themselves to protect their savings from these predatory practices.
A growing scandal in the gold and silver investment industry reveals how conservative media promotes companies accused of defrauding elderly investors. Whistleblower Dale Whitaker, former CFO of Augusta Precious Metals and author of “The Gold Grift,” exposed how these firms use deceptive sales tactics, inflated premiums and misleading marketing to bilk retirees out of their life savings in a recent interview on the “Health Ranger Report.”
Whitaker’s revelations highlight a disturbing trend: Major gold retailers have faced lawsuits for fraud yet continue operating with the endorsement of high-profile conservative voices. Worse, these companies advertise heavily on networks like Fox News, Newsmax and One America News (OAN), leveraging trust in conservative media to push overpriced, illiquid coins onto unsuspecting buyers.
Whitaker explained to the Health Ranger Mike Adams how the scam works:
- Bait-and-switch tactics: Investors call wanting standard bullion (like American Eagles) but are pressured into buying obscure, high-premium coins with arbitrary valuations.
- Massive markups: Some firms charge 300% to 450% premiums on silver coins, meaning buyers pay $200+ per ounce when the actual spot price is around $25.
- Fast-talking salesmen: High-pressure sales teams earn 10% to 15% commissions, incentivizing them to push worthless “exclusive” coins.
- False promises: Customers are told their coins will appreciate, only to discover they’re worth half their investment when trying to sell.
Whitaker notes that these schemes often target conservative Christians aged 50+, exploiting their trust in right-wing media personalities who endorse these companies. But he notes that “plenty of folks in their 40s” also fall victim to such schemes.
“These aren’t dumb people,” the whistleblower noted. “These are your normal, everyday, hard-working Americans who just trust that these companies are going to have their best interests at heart, and they really don’t.”
Conservative media personalities shockingly silent on gold fraud
One conservative media personality’s name emerged during the course of the conversation between Adams and Whitaker. “When you are a podcaster or a trusted white right wing voice, and you put your name behind a company, your viewers trust that,” the whistleblower said.
The individual he mentioned was Glenn Beck, who initially endorsed Goldline – a precious metals firm sued by multiple state attorneys general and which settled for misleading investors. “He viciously defended them publicly for years,” Whitaker remarked. “And then once Goldline actually got sued, Beck went silent on Goldline.”
“And then very recently, I think about a year and a half ago, Lear Capital engaged him, and he takes another sponsorship, Now, the new company that he engaged with … [was] sued by more than 10 states in a joint [attorneys general] lawsuit.” According to Whitaker, Lear Capital “went through Chapter 13 bankruptcy, and there [were] a bunch of rules imposed upon [the company] in order for [it] to fix [its] practices” – something the firm has yet to comply with.
Despite victims losing 60% of their retirement savings, Beck and other conservative influencers continue accepting lucrative sponsorship deals from these firms. This led to Whitaker asking: “In his instance, why would you engage with another gold company after the gold company that you originally were sponsored by [was] sued into the ground for deceptive practices and defrauding their viewers?”
Whitaker also confirmed that companies like Augusta Precious Metals – his former company – spent millions advertising on Fox News, Newsmax and OAN. Even when presented with evidence, major conservative voices including Sean Hannity and Bill O’Reilly refuse to address the issue, likely due to financial ties. “I’ve reached out to all these guys … and I get crickets. I don’t get any responses,” Whitaker lamented.
Whitaker ultimately gave these pieces of advice:
- Avoid “exclusive” coins – stick to standard bullion (American Eagles, Canadian Maple Leafs).
- Demand pricing upfront – fraudulent firms hide markups until the last minute.
- Compare prices – legitimate dealers list transparent pricing.
- Trust your gut – if a deal feels wrong, walk away.
Whitaker’s revelations expose a systemic problem: Gold companies exploit conservative trust to scam retirees, while media personalities profit from endorsements. Regulatory action is needed, but until then, investors must educate themselves because their news channels won’t warn them.
Watch this interview between Dale Whitaker and the Health Ranger Mike Adams about the gold grift.
This video is from the Health Ranger Report channel on Brighteon.com.
Sources include:
Brighteon.com
DaleWhitaker.com
Amazon.com
BrightU.ai
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