Evidently Bill O’Reilly and Glenn Beck could be in FCC trouble over the way they are promoting “gold”. O’Reilly is behaving like an adult and dealing with the discipline. Beck, in his usual juvanile fashion refuses to act like an adult.
“…On Thursday, the network also indicated it would ask Rosland Capital, another gold retailer, to remove from its website the logo for Bill O’Reilly’s Fox show, the O’Reilly Factor, which Rosland features along with an audio clip of O’Reilly urging listeners to buy gold because “The U.S. Dollar is under attack!”
Fox’s concern was that O’Reilly’s endorsement of Rosland was specific to the radio show he no longer does, and Rosland is not a sponsor of his television show.
Rosland spokesman Steve Getzug said the company had not heard from Fox but was already “in the process of pulling the reference down as part of an overall update of Rosland’s website.” He called the O’Reilly endorsement “dated” and said “it’s been a while since the company has updated its website.”
Beck’s critics have not suggested that he was actually influencing the price of gold, which had been rising steadily until this month, by encouraging his fans to buy coins from Goldline.
But some financial analysts and precious metals experts did tell POLITICO that potential gold investors would be wise to look into bullion or exchange traded funds intended to track the price of gold, rather than the coins sold by Goldline and a handful of other firms that advertise on Beck’s shows and those of other conservative talkers. That’s because those firms focus on collectible or antique coins, which they sell for many times the value of the intrinsic gold and promote as being exempt from a potential government seizure of gold like that which occurred under Franklin Roosevelt in 1933. Beck has suggested that gold coins are a good buy now because President Barack Obama and Congressional Democrats are steering the economy towards disaster.
And that feedback loop – Beck stoking fear of economic collapse, hyping gold as a hedge against collapse, and endorsing a company selling gold – prompted liberals from the watchdog group Media Matters to MSNBC host Keith Olbermann to Comedy Central’s faux-news hosts Stephen Colbert and Jon Stewart to allege a glaring conflict of interest.
“Glenn Beck is paid by Goldline to drum up interest in gold, which increases in value during times of fear, an emotion reinforced nightly on Fox by Glenn Beck,” Stewart said on The Daily Show last week.
Fox policy barring hosts from serving as paid spokespeople is industry standard, said Columbia University journalism professor Todd Gitlin because it guards networks’ credibility against “the taint of self interest.” But he said, no matter what Goldline calls Beck, “the situation clearly crosses the line. If Beck is not serving as a paid spokesperson, then he must be the tooth fairy.”…Goldline doesn’t “pick people because they’re conservative,” Albarian asserted, adding that it would consider paying an MSNBC host to endorse it and pointing out that the company had paid former U.S. Mint director and Democratic Congressman Jay Johnson for his endorsement until his death in October. “We pick people because they have a passion for gold.”
Goldline is not the only company to pay for endorsements from conservative talkers predicting dire consequences from the Obama administration’s economic policies.
Swiss America Trading Corp., a Goldline rival, pays firebrand radio talker Michael Savage, who – in a CD offered through Swiss America’s website – (linked from Savage’s own) talks to a company executive about such topics as whether “the U.S. dollar will decline further under Obamanomics.”
Rosland Capital boasts endorsements from O’Reilly, who also occasionally touts gold investments on his show, Kilmeade and Napolitano, among other endorsers not affiliated with Fox.
In addition to the O’Reilly Factor’s logo, Rosland’s website includes an audio clip of O’Reilly declaring “The U.S. Dollar is under attack! Under attack at home, from a Fed that’s printing paper money like it has no value, and from China, whose actions are tipping the balance of the global currency system away from the U.S. Dollar.”
And last month, when Beck appeared on O’Reilly’s show, O’Reilly asked him whether he thought “there’s a global currency going to come and the dollar is just going to go some place away, but you’re hoarding gold in your basement? That’s what you’re doing?”
“Not in my basement,” Beck said. “Definitely, not in my basement. Don’t say it in my basement.”
O’Reilly apologized, and said he, too, had purchased “a bunch of” gold “because I think the Obama administration is mishandling the economy at this point.”…”