Ted Anderson owner of GCN and Midas Resources (peddling Gold and Silver)

Okay I know you people hate when anyone attacks Alex Jones but you are aware that Ted Anderson who owns GCN (Genesis Communication Network) and the boss of Alex Jones, he also own Midas Resources which peddles gold and silver coins. Alex Jones is constantly promoting buying gold and silver on his show and to buy from Midas Resources. Isn't that a bit suspicious?

Midas Resources was founded in 1996 by Ted Anderson. Mr. Anderson spent many years as a precious metals broker working for large corporations before striking out on his own. In 1998, he launched the Genesis Communications Network (GCN) to promote the importance of investing in precious metals. In the last few years, both companies have grown, reaching millions of people every day with the message of liberty and security.

source

Bob Anderson of the Internal Forecaster seems to be in on it too, if you buy a gold franc from Midas Resources you get free years subscription to his magazine. theinternationalforecaster.com... Bob Chapman also goes on the Alex Jones Show and says how worthless our paper currency is and to buy gold and silver from Midas Resources. Hmmm.

Here is a article I came across that says Midas Resources marks up their gold and silver:

Unfortunately I learned the hard way Midas Resources does rip people off with very high mark ups on their common gold coins. In January of 2009 I bought thousands of dollars of $5 liberty gold coins at $400 and $429 a piece. With the rising price of gold I thought when I called Midas to sell off a few for some quick cash I’d be offered near the same price. Unfortunately I learned the coins were only worth a little more than half of what I paid at $236. This was just 10 months later after gold rose significantly so my losses were even greater in reality.

If you think maybe this is an anomaly having to with gold, think again. For their half dollar silver Walkers they advertised them at practically wholesale prices on the Alex Jones Show. In January of 2009 I bought a bag of 200 Walkers for $1,700. Ten months later the bag is worth $975. As you can see, Midas commonly marks up their precious metals to around 35-40% while claiming in radio ad spots they sell at nearly wholesale levels. They are con artists who will say anything.

I spoke with a local coin dealer who says its common for people to be scammed by radio advertisers this way. He said these companies may indeed have large overhead to justify their mark-up but obviously you can find much better deals in the marketplace then buying coins from Midas Resources.

I lost about $9,000 but have addressed the situation with another coin dealer who is helping me to recover the loss. Most coin dealers only market up 5% as their commission. Midas marked up around 40% and that’s a crying shame scam in my book.

scatattack.wordpress.com...

Gold went up in value per ounce since January, but apparently that doesn’t affect the value:

There are two types of gold coins, numismatic and bullion. The chief difference between numismatic coins and bullion coins lies in how they are valued. Unlike a bullion coin, which derives its value from it’s gold content, the value of a numismatic coin is determined by a combination of variables including age, rarity and its condition.

scatattack.wordpress.com...

Sounds like they got a pretty good scam going on. Even if our currency bottomed out (in the most extreme sense) that doesn't mean stores will accept gold and silver coins, nor does it mean the rest of society will. More than likely it would go to a bartering system until the currency problem got fixed.

Here is an article on why a gold standard wont work www.cnbc.com...

and some more articles on the subject

Congress "should only permit currency backed by stable commodities such as silver and gold". Commodities, almost by definition, are not stable. The price of gold looks as if it used to be stable, because the dollar was fixed relative to an ounce of gold. This does not mean that its value relative to other economic goods was unchanged. You could fix your currency to the price of a bushel of wheat, and suddenly "wheat bugs" would be claiming that wheat is the only reliable, stable commodity in the world whose price never changes. That wouldn't stop fluctuating wheat supplies from whipsawing your economy back and forth. To be sure, the supply of gold changes more slowly than the supply of wheat. But demand for it is not so fixed.

www.theatlantic.com...

Another good article that covers the problems it would cause to go back to gold standard: wallstcheatsheet.com...

www.wisebread.com...

I wouldn't call it suspicious. It's pretty straight forward commercialism.

But at today's market price I wouldn't buy gold.
There are other commodities with better prospect ratios at this moment in time.

reply to post by SigilOfLux


I may be a fan of Alex Jones but before that I knew stocks and currency and if you actually looked at the stock market and the price of gold during times of depression you would understand that its a smart investment. Does anyone think we will be reverting back to a time of spending gold silver coins? No your statement was ridiculous. Also if you had bought gold and silver about 5-8 years ago you would be laughing and feeling quite comfortable seeing how its raised above 500% and continuing to see profits raise. The dollar has tanked in the past and is heavily falling now since 1913 when the FED took control towards a central banking system the dollar has decreased its value to around 92%. Gold and Silver and other precious metals such as copper have been stable to trade in for over 4000 years. You could also start investing in household goods as that is a safe place to invest in when your in a depression.

You linking Ted Anderson to Alex Jones is showing there relationship in giving people a chance to have security in a time of depression. Did you look into how Ted makes profit off the sales of gold and silver? I doubt it because if you did then you would know its pretty damn minimal to how other people and companies make money off the exchange.

I think you jumped to conclusions without real research on the matter.
Ilegal trade in gold and silver
Now after reading this can you draw some conclusions on why it was implemented? I will give you a hint, its because they wanted to hinder people straying from the dollar to going towards precious metal.

Hope this helps you to further understanding on why precious metals would be a good idea.

Now your claim on why the gold standard wouldn't be good for the USA at first, its because you don't have any Gold Anymore it was stolen from the FED a long time ago. Because of how depreciated your dollar is right now it would suck. You people should be super pissed off but only now are people starting to wake up. When hyperinflation starts ( right now its been reported around 9-10% msm other reports show closer to 30%) hitting 50% so you cant buy your food or water , let alone any luxury items that's when your going to see mass rioting.
Its why your beginning to see such a clamp down on people abilities to openly protest.. Its part of the plan of banking cartels to bankrupt a country and move on.

Going back to gold standard would be in a long term scenario where people are trying to recover your country would work. but I don't see that happening anytime soon.
I live in canada and I know that we will be hit maybe last on the chopping block but its coming.

Mods this guy is a complete troll, all of his topics have been something to do with Alex Jones lieing.

Originally posted by mkultracanuck
Mods this guy is a complete troll, all of his topics have been something to do with Alex Jones lieing.

Wow interesting.

You are right, only been here a week and that's all it is about.

Very strange behavior indeed.

reply to post by SigilOfLux


Yes we are aware and if you had taken Teds advice and bought into Gold and Silver you would be very pleased with that advice.

You don't have to buy the Gold and Silver from him, he offers deals at last weeks prices which is pretty cool.

You really won't get a better deal anywhere else.

Cosmic...

Originally posted by SigilOfLux
Okay I know you people hate when anyone attacks Alex Jones but you are aware that Ted Anderson who owns GCN (Genesis Communication Network) and the boss of Alex Jones, he also own Midas Resources which peddles gold and silver coins. Alex Jones is constantly promoting buying gold and silver on his show and to buy from Midas Resources. Isn't that a bit suspicious?

Midas Resources was founded in 1996 by Ted Anderson. Mr. Anderson spent many years as a precious metals broker working for large corporations before striking out on his own. In 1998, he launched the Genesis Communications Network (GCN) to promote the importance of investing in precious metals. In the last few years, both companies have grown, reaching millions of people every day with the message of liberty and security.

source

Bob Anderson of the Internal Forecaster seems to be in on it too, if you buy a gold franc from Midas Resources you get free years subscription to his magazine. theinternationalforecaster.com... Bob Chapman also goes on the Alex Jones Show and says how worthless our paper currency is and to buy gold and silver from Midas Resources. Hmmm.

Here is a article I came across that says Midas Resources marks up their gold and silver:

Unfortunately I learned the hard way Midas Resources does rip people off with very high mark ups on their common gold coins. In January of 2009 I bought thousands of dollars of $5 liberty gold coins at $400 and $429 a piece. With the rising price of gold I thought when I called Midas to sell off a few for some quick cash I’d be offered near the same price. Unfortunately I learned the coins were only worth a little more than half of what I paid at $236. This was just 10 months later after gold rose significantly so my losses were even greater in reality.

If you think maybe this is an anomaly having to with gold, think again. For their half dollar silver Walkers they advertised them at practically wholesale prices on the Alex Jones Show. In January of 2009 I bought a bag of 200 Walkers for $1,700. Ten months later the bag is worth $975. As you can see, Midas commonly marks up their precious metals to around 35-40% while claiming in radio ad spots they sell at nearly wholesale levels. They are con artists who will say anything.

I spoke with a local coin dealer who says its common for people to be scammed by radio advertisers this way. He said these companies may indeed have large overhead to justify their mark-up but obviously you can find much better deals in the marketplace then buying coins from Midas Resources.

I lost about $9,000 but have addressed the situation with another coin dealer who is helping me to recover the loss. Most coin dealers only market up 5% as their commission. Midas marked up around 40% and that’s a crying shame scam in my book.

scatattack.wordpress.com...

Gold went up in value per ounce since January, but apparently that doesn’t affect the value:

There are two types of gold coins, numismatic and bullion. The chief difference between numismatic coins and bullion coins lies in how they are valued. Unlike a bullion coin, which derives its value from it’s gold content, the value of a numismatic coin is determined by a combination of variables including age, rarity and its condition.

scatattack.wordpress.com...

Sounds like they got a pretty good scam going on. Even if our currency bottomed out (in the most extreme sense) that doesn't mean stores will accept gold and silver coins, nor does it mean the rest of society will. More than likely it would go to a bartering system until the currency problem got fixed.

Here is an article on why a gold standard wont work www.cnbc.com...

and some more articles on the subject

Congress "should only permit currency backed by stable commodities such as silver and gold". Commodities, almost by definition, are not stable. The price of gold looks as if it used to be stable, because the dollar was fixed relative to an ounce of gold. This does not mean that its value relative to other economic goods was unchanged. You could fix your currency to the price of a bushel of wheat, and suddenly "wheat bugs" would be claiming that wheat is the only reliable, stable commodity in the world whose price never changes. That wouldn't stop fluctuating wheat supplies from whipsawing your economy back and forth. To be sure, the supply of gold changes more slowly than the supply of wheat. But demand for it is not so fixed.

www.theatlantic.com...

Another good article that covers the problems it would cause to go back to gold standard: wallstcheatsheet.com...

www.wisebread.com...



reply to post by SigilOfLux

edit on 13-8-2011 by SigilOfLux because: (no reason given)

edit on 13-8-2011 by SigilOfLux because: (no reason given)

Do you still drink tap water? I mean wow, let me debunk your silly attempt to attack alex jones.

lets shed some light on it.

So if in January of 2009 he bought thousands of dollars of $5 liberty gold coins at $400 and $429 a piece and todays current RATE is $1,615 how did he loose out? so he claims they marked it up? All businesses mark products up. Its called profit.

So today if he purchased gold from Alex's sponsor Midas, he would have made 1,190 per coin! WOW, I wish I would have listened to Alex too back then.

misinformation on the well informed will fail. STOP spreading misinfo and spend your time going after the people that are taking your freedoms away and not the ones who are sounding the alarm.

Bob Chapman is currently pumping Hellix Ventures, an exploration company that gets parts per billion grab samples of gold. As a rule of thumb, drill assays for gold that average 8 grams per tonne over 50 meters is sure to move up the price of a mining exploration company. So we are talking parts per million in this case. Even with drill reports in parts per billion, the stock price goes into the toilet. Usually the Geo will talk about interesting quartz formations. The word "interesting" means nothing good.

Bob Chapman gets plenteous airplay on the Jones Show on Fridays. He has an unpaid for fine with the British Columbia Securities commission. He has a default judgement against by the SEC from 2010 for fraudulent securities manipulation. He owes the District court disgorgement and punitive penalties from this judgement. You can look up his history on the thread in the Kitco Forum called What About Bob.