Like Glenn Beck before him, Fox Business host Eric Bolling appeared on Fox & Friends today to promote the high price of gold (like Beck), use fear of the economy to suggest the price of gold will continue to raise (like Beck), and -- with a little help from host Brian Kilmeade -- even suggesting gold coins as the "easiest" way to buy gold. Not disclosed? Both Bolling's and Kilmeade's shows, like Beck's, conveniently profit form advertising gold. In fact, Rosland Capital (a regular advertiser on Beck's show), even sponsors gold updates on Bolling's old show, Fox Business' Happy Hour.
Bolling appeared on Fox & Friends today with $50,000 of gold coins in order to explain to co-host Brian Kilmeade that gold is at an all-time high, and "the only thing that that would derail a rally in gold would be a tea party Congress, a tea party senate, maybe a tea partier in the White House." Bolling said gold would remain high because when the government spending is out of control, the price of gold increases, he reasoned, due to our "currency" being "devalued."
After sufficiently scaring the audience into buying gold before the collapse of civilization, Kilmeade wanted to know how he and the audience could "get in on the gold rush." That's when Bolling helpfully suggested buying a 1/5-ounce coin as a "great way" and the "easiest way to be involved in the rally in the price of gold." Watch:
The only problem, as Rep. Weiner detailed, is that not only is the gold industry plagued by high pressure sales pitches, but as gold is at a record high, it would have to go far higher before investors saw a return. Coins are particularly problematic, as sellers market coins at far above the value of the gold in the coin.
Fortunately for Bolling and Kilmeade, they -- like Beck -- will profit from gold regardless of the price. Gold companies advertise on Bolling's new show, Money Rocks. Additionally, on his old Fox Business show Happy Hour, gold companies would not only advertise on the show, but Fox Business also allowed gold seller Rosland Capital to sponsor a "look at what gold did today" during the show. And, although he played dumb on Fox & Friends, Kilmeade is no stranger to the gold industry either. Rosland Capital's website features a testimony from Kilmeade:
When will Fox acknowledge their enormous conflict of interest when it comes to gold?