Why not? The Armageddon is in the Bible. Radio preachers talk about it on the radio all the time. There is nothing in any FCC rule that says you can't preach the Bible on the radio. There also is no rule forbidding the sale of gold on the radio. It may be a bad idea to buy it, but that doesn't make the advertising of it illegal or even unethical.
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am970 The Answer
- Thread starter Lee Linwood
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Why not? The Armageddon is in the Bible. Radio preachers talk about it on the radio all the time. There is nothing in any FCC rule that says you can't preach the Bible on the radio. There also is no rule forbidding the sale of gold on the radio. It may be a bad idea to buy it, but that doesn't make the advertising of it illegal or even unethical.
Prager said he is buying gold from a new gold company which, coincidentally, is the latest sponsor of his show, due to a different investment strategy. Forgive my skepticism. And, what of any listeners who bought gold from the previous gold sponsor because Prager did so? Maybe, they’re now worried that they, too, have the wrong strategy and will sell their gold, at a loss. Or, maybe, the old gold sponsor is crooked but Prager can’t say so on the air. Very bad advertising policy, in my opinion.
The interest that most banks pay on savings is less than 0.2%. That is about 1/8th the current inflation rate, so the average person with a small savings account or ordinary CDs loses money every year.
So, should banks not be allowed to advertise?
Obviously, you do not believe in investing in gold. I don't believe in trading options or trading with margin accounts. But whether it is gold or options or futures or margin accounts, it's legal and all are likely right for the investing strategy of some people.
And radio stations can't decide which investment advertisers are good and which are bad. If they want to take any investment type accounts, they have to take all of them if they are legal.
I think $70 pillows made with shredded foam are not good buys. My dog could chew up a coupla' sponges and make better pillow stuffing... but the guy with the chopped foam is free to advertise. Caveat emptor and all that.
Plus a lot of these very same advertisers buy time on lots of cable TV channels as well. Those that aim to the over-55 audience, such as cable news channels or the many channels that program off-network TV series. You can see these ads on the Discovery Channel, the History Channel, and HGTV. People ask all the time why there isn't more media for the over-55 audience, and the answer is that if there was, it would mostly be supported by this kind of advertising.
If gold is a great investment, and US currency is threatened, why are gold companies selling their gold for US currency? Banks pay interest. Stocks pay dividends. Gold pays neither. Dennis Prager shouldn’t be pushing people who don’t know any better to buy gold from sponsors that he buys gold from, and then stops buying gold from in order to buy gold from new sponsors. It’s unethical, in my view.
Do you have any documentation on any of that?
Companies that sell gold make a profit. They buy more gold, and sell it for a profit. Since we do not know what they do with the profits, the question is unanswerable. Maybe they stockpile gold.
The point is that there is nothing wrong with advertising a gold retailer. And nothing you say is going to stop that from happening.
This poor horse has been beaten beyond death. Let's agree to disagree, or this thread will be closed. OK?
My dog could chew up a coupla' sponges and make better pillow stuffing...
If I ever, somehow, end up spending the night at your place.....I'm bringing my own pillow!
If I ever, somehow, end up spending the night at your place.....I'm bringing my own pillow!
Companies that sell gold make a profit. They buy more gold, and sell it for a profit. Since we do not know what they do with the profits, the question is unanswerable. Maybe they stockpile gold.
The point is that there is nothing wrong with advertising a gold retailer. And nothing you say is going to stop that from happening.
This poor horse has been beaten beyond death. Let's agree to disagree, or this thread will be closed. OK?
Companies that sell gold on radio and TV claim that US dollars will be worthless and gold will be the only viable currency. But, they want to sell their valuable gold for future valueless dollars, Anyone with a functioning brain sees through this foolishness.
You’re the perfect candidate for gold.
First, this is not an investment advice message board. This is no longer about radio or TV, the two subject that this board is about.
Both I and several other industry professionals have indicated that there is nothing illegal about advertising investments in gold. And we have mentioned that it would be illegal to not accept a gold seller and to accept ads from, let's say, Schwab or Goldman Sachs.
There is no evidence that the advertisers are not operating legally, and there are many who believe that gold is a possible part of some portfolios. Personally, I know of people who come from countries where politics or inflation have devalued currency, and such people often find great comfort in having some money in a commodity that is tangible, portable and has never lost all its value. If owning some gold gives them security, then one objective of investing has been satisfied, even if the value declines or stagnates.
And history has shown us that currencies have devalued when indexed against gold. This has not happened in the US, but it is certainly worth considering that it could happen. For some, as I just mentioned from my own anecdotal experience, gold is a viable safety net. The seller of gold, for all we know, many keep a portion of their profits in gold itself, but we do not know that one way or another.
What we are getting to is puffery. It's a legal aspect of advertising where one claims that their product or service is the best. Another anecdotal experience: I've flown about 6 or 7 million miles in my career in radio, and I still recall that airline that talked about the "friendly skies". I laughed, because at the time that airline was anything but friendly and at times was downright obnoxious. I did not sue them for annoying me, though. I knew it was just an ad slogan.
Lighten up.
Oh, and I'm not a candidate for gold. I have a well known trust department in charge of my eventual full retirement funding, and they have outperformed the market over the last half-century for both me and my family. Our security for contingencies and retirement lies in having selected good advisers. So your rather snide remark is both poorly aimed and inappropriate.
Once again, let's keep this about radio and radio advertising. There is nothing illegitimate about advertising gold or a spokesperson endorsing a gold purveyor.
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Prager stated on his show, while doing a commercial for a gold sponsor, that he started buying gold from the new sponsor because of a different investment strategy. He didn’t explain what the different strategy is nor why he didn’t alert his listeners earlier who purchased gold from the previous sponsor he had personally endorsed.
But do you have any documentation, or are we simply drawing on your memory?
Without proof, I find it very hard to believe that any radio personality actually buys or uses any of their sponsors' products, regardless of what they claim on the air. If Mr. Prager said he bought gold from Company X and gave them his personal endorsement, and then all of a sudden he's now advertising and endorsing gold from Company Y, obviously he would need to make up some kind of excuse to explain the switch.
And if Mr. Prager is implying that people should buy gold in order to prepare for Armageddon, I find that highly suspicious, considering that he is Jewish, and they don't believe in that sort of thing.
In fairness, Prager didn’t say anything about Armageddon. It’s the gold companies whose tactics are to scare people that global economic destruction is imminent, though, it is yet to occur.
Would you like me to submit to a lie detector examination?
Piscopo did a commercial for My Pillow claiming a new discounted price is exclusive to his show as authorized by Mike Lindell, owner of the company. Shortly later, Mark Simone on WOR did a commercial for My Pillow offering the same low price.
I don't care what you do. But if you believe that there's something wrong with what you're hearing, you'll need documentation if you want to proceed. Otherwise you're wasting a lot of time.
If someone was making claims about you, then you'd probably submit to a lie detector test. In this case, you're making claims about someone else. But you have no proof of what you're saying. You need physical evidence, and then you yourself have to prove that you've been harmed in some way by what you've heard. If you don't have physical evidence of anything, then it won't hold up, and you're in the same category with a bunch of crackpots who claim lots of unproven things.
Typically the "product" is provided to the personality, so they can talk about it and check it out.
Who said he did that?
Because they are different kinds of investments....which you don't appear to know about.
One is income producing, one is a growth asset (you buy it if you think the price is going up, like real estate.)
You are struggling to find something wrong with the product, the personality, the station, etc......and coming up with very weak arguments.
I know what Warren Buffett knows, the greatest investor of his time, perhaps of all time: He doesn’t own gold, because it’s a bad investment.
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