They are starting with Goldline -- a half-century old business that just happens to place ads on the shows of Rush Limbaugh, Sean Hannity and Mark Levin.
Just as the government is trying to prevent people from investing in anything other than T-Bills by raising taxes on taxable interest and dividends to confiscatory levels, it's also trying to prevent you from parking your wealth in assets, like gold...
A press release from Rep. Anthony Weiner, Democrat of New York, not yet (as of this instant) posted on Mr. Weiner's Web site, announces that a September 23 hearing of the Subcommittee on Commerce, Trade, and Consumer Protection (a subcommittee of Rep. Henry Waxman's Commerce Committee) will focus on "legislation that would regulate gold-selling companies, an industry who's [sic] relentless advertising is now staple of cable television."
From the press release: "Under Rep. Weiner's bill, companies like Goldline would be required to disclose the reasonable resale value of items being sold." That's great. Are Mr. Weiner and Chairman Bernanke also going to agree to print on every dollar the reasonable expectation that its value will be eroded by inflation?
Gold investors (or speculators) are already punished by the federal government by having their investment, even in a gold exchange-traded-fund, taxed at the higher rates that apply to collectibles rather than long term capital gains.
Not to mention the fact that Mr. Weiner's regulatory push seems as much aimed at conservative journalists as at the gold-dealers. The press release says, "Goldline employs several conservative pundits to act as shills for its' [sic] precious metal business, including Glenn Beck, Mike Huckabee, Laura Ingraham, and Fred Thompson. By drumming up public fears during financially uncertain times, conservative pundits are able to drive a false narrative. Glenn Beck for example has dedicated entire segments of his program to explaining why the U.S. money supply is destined for hyperinflation with Barack Obama as president."
Imagine the uproar if a Republican-majority Congress started investigating and having a regulatory crackdown on big advertisers in liberal outlets such as the New York Times. The First Amendment freedom-of-the-press crowd would be marching in the streets.
The whole situation is amazing. If Mr. Weiner really wants to calm fears about hyperinflation, the last way to do it is to have a government hearing cracking down on the people warning of it...
I want you to know that Waxman and Weiner are detestable Stalinist hacks. They represent a menace to the civil society. They are attempting to silence political speech with which they disagree.
I say this because Waxman and Weiner do not believe in the First Amendment, or any part of the Constitution, so far as I can tell. They are, as is their habit, blatantly violating their oaths of office.
Under the pretense of "consumer protection", Waxman and Weiner are attacking perfectly legitimate private businesses like GoldLine in order to silence conservative speech. Using the specious claim that GoldLine "grossly overcharges" its customers (PDF), Weiner is specifically targeting sponsors of conservative thought-leaders like Rush Limbaugh, Mark Levin and Fred Thompson.
Waxman and Weiner are thugs masquerading as Congressional representatives. Why? Because Goldline isn't overcharging anyone.
A one-ounce 2010 American Eagle gold bullion coin is the single best benchmark for most gold collectors. Using a Google search, I took the first nine websites I found (that would allow me to shop online) and ran through an ordering process for a 2010 1-oz. Eagle on each.
And this is what I found:
|Raw Price + Shipping||Total Price||Shopping Cart||Website|
|$1,239.05 + $24.95 shipping||$1,264.00||1 oz. 2010 Gold American Eagle||APMEX|
|$1,256.22 + $17.95 shipping||$1,273.17||1 oz. 2010 Gold American Eagle||Gainesville Coins|
|$1,255.48 + $27.00 shipping||$1,282.48||1 oz. 2010 Gold American Eagle||Blanchard Online|
|$1,240.01 + 24.95 shipping||$1.284.96||1 oz. 2010 Gold American Eagle||Golden Eagle Coin|
|$1,295.00 + free shipping||$1,295.00||1 oz. 2010 Gold American Eagle||GoldLine|
|$1,278.74 + $20.95 shipping||$1,299.69||1 oz. 2010 Gold American Eagle||Brandon's Coins|
|$1,247.92 + $49.51 shipping||$1.297.43||1 oz. 2010 Gold American Eagle||BullionDirect|
|$1,299.00 + $19.95 shipping||$1,318.95||1 oz. 2009 Gold American Eagle||Austin Gold Information Network|
|$1,399.00 + $7.45 shipping||$1.406.45||1 oz. 2009 Gold American Eagle||Steve's Collectibles|
|$1,435.00 + free shipping||$1,435.00||1 oz. 2010 Gold American Eagle||GovMint|
In fact, Goldline was fifth out of ten on total price for the one-ounce benchmark gold bullion coin, separated by 2% from the first slot. Does that sound like overcharging to you?
Are Waxman and Weiner investigating #10?
Or #8, #7 or #6?
No. Because they don't sponsor conservative authors and speakers. If these Democrats were really concerned with overcharging, they could have found far better targets than Goldline in a matter of a few minutes, just as I did.
Henry Waxman and Anthony Weiner are would-be dictators. They are, in no uncertain terms, targeting free speech. Their tactics are anti-American.
If these penny-ante tyrants get their way, any business that advertises on talk radio is fair game.
I don't care if you're a Democrat or Republican. If you believe in the right of free speech, you will reject the current slate of Democrats.
Spread the word: give Henry Waxman and Anthony Weiner pink slips in November.