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* Bob Chapman and Chris
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2006 and answer listener's questions.
* Gary Kaltbaum from Fox
News joins the broadcast.
2nd Hour:
* Featured guest: Kal Gronvall
from The Gold & Silver Exchange.
* Kal & Chris discuss the markets
and Kal reveals a dangerous new scam in the coin
industry.
By trade I am a high school and college English
teacher, having taught a total of 11 years. After
finishing my Master's degree in 1993 I tried to
get back into teaching, but there was such an excess
of teachers I couldn't find a job. So, in the fall
of 1997 I took a job with the largest gold coin
company in the country located in Minneapolis. I
worked for that company until just after 2000 turned
over. Then I left that company to work for another
gold coin company in Burnsville, Minnesota. While
working for these two coin companies for a total
of six years I got a pretty good handle on the gold
coin business, and to my shock, I witnessed some
of the lowest, most despicable acts I had ever seen
in my life, as other gold brokers around me would
lie to customers, misrepresent coins and make false
claims about them, promise people impossible monetary
gains if they bought certain coins, and the management
went right along with it.
I decided to go on the radio and expose these scams
in the coin industry I ended up on national radio
talk shows doing just that. The biggest problem
with the gold coin industry is the fact that it
is unregulated. It is basically buyer beware.
Whatever they can get away with they get away with.
In late 1998, a talk show host asked me why I was
speaking out against the coins that all the other
companies were recommending. I simply told him that
these companies sell certain coins because they
bring huge profits, not for the customer, but for
the coin company. The talk show host told me that
many people from the listening audience had asked
if I had anything in writing about the scams in
the coin industry. I told him that I didn't but
that I could put some of these things in writing.
I started with 11 pages, then it grew to 17, then
to 21, then to 26. I will soon be updating my paper.
After I update it I will publish it as a book. I
am offering this paper free of charge to anyone
who calls and requests it.
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