Some tips to. Avoid Telemarketer Gold Scams
With the price of. Gold rising steadily the popular. Mind set of. its. Safety and value has. been. Around since. Before the Gold Standard backed the US Dollar.
But before you get in on the Gold Rush, the US Federal Trade Commission wants. You to. Beware of. “fraudsters”. looking. to. Make a. Quick buck.
According to. The FTC, complaints in the area of. Investment frauds, including precious metals, have increased sharply over. The past 3 yrs.
In Y 2011, the FTC fielded 7,657 complaints related to. Investment fraud, compared to. 6,490 complaints in Y 2009.
“Consumers are. Vulnerable, because other investments are. Not panning out for. Them. They’re. looking. for. Something different. Precious metals are. Presented to. Them as. a. Winning situation,”. an. FTC attorney said.
After the financial crisis in Y 2008, as. Gold prices began. to. Rise, con. Artists began. Capitalizing on the economic climate and taking advantage of. People’s fears.
So, before investing in Gold or. Other precious metals pitched by. Telemarketers do. The following;1. do. a. General Internet search of. The company, making sure. to. Check the better. Business Bureau.
2. Register for. The federal “do. Not Call List.”. Legitimate telemarketing companies won't call you if your number is on this. List because it’s against the law.
3. be. Cautious of. Opportunities to. Finance. Go beyond. What the telemarketer tells you and read the fine print, including excessive service and storage fees. High interest rates.
4. find. The physical address of. The company’s location and drive by. It.
5. If you buy. Physical metals, such. as. Gold or. Silver bullion, consider taking delivery of. Your purchase. Storing it yourself, rather. Than entrusting a. Company to. do. so.
6. Watch out for. Overzealous sales pitches. If a. Telemarketer says an. Investment is risk free, or. Guarantees high profits with. Very low. Risk, think twice, especially. You’re. Pressured to. Act quickly.
Be careful, it's your money and your responsibility.
Contact the Author Share Us
Knightsbridge Law is a. Boutique law firm in Thailand. The lawyers of. Our firm have provided. Legal advice on a. Variety of. Areas of. The legal practice, including: Investment Grade Real Estate; Mergers and Acquisitions. Establishing Business in Asia. Corporate and Commercial consultancy. Asset Management. Banking, Finance and Securities. Listing Companies in Asia. Global Metals and Mining Contact the Author Paul a. Ebeling, Jnr.Paul a. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a. Weekly, highly-regarded financial market letter, read by. Opinion makers, business leaders and organizations around the world.Paul a. Ebeling, Jnr has. Studied the global financial and stock markets since. 1984, following a. Successful business career that. Included investment banking. Market and business analysis. he. Is a. Specialist in equities/commodities. an. Accomplished chart reader who. Advises technicians with. Regard to. Major Indices Resistance/Support Levels.  .