Exploring the perils of the precious metals market

The Senate Special Committee on Aging is holding a hearing today to examine deception associated with retail precious metals investments and their effect on people’s retirement nest eggs. The FTC, which has a track record of stopping deceptive practices in the marketing of precious metals as investments, will testify.

According to the FTC, the deceptive practices have included telemarketing operators posing as “brokers” and offering precious metals as purported high-profit, low-risk investments. By failing to disclose key information about the investments’ terms and high costs, these brokers deceive consumers into believing that the investments provide a safe and secure vehicle for savings. Sadly, many Americans have lost their life savings to these unscrupulous operations.

The FTC is committed to protecting consumers from deceptive or unfair practices, including investment schemes that swindle money from people and often prey on older Americans' concerns about the security of their retirement savings. In fact, the FTC recently filed three law enforcement actions involving precious metals investment schemes. In addition to stopping the alleged scams, the agency expects to return approximately $5 million to victims.

If you’re looking to invest in precious metals, the FTC has some free information you can bank on to help keep those golden years from turning to rust: Investing in Gold, Investing in Bullion and Bullion Coins, and Investing in Collectible Coins.

Blog Topics: 
Jobs & Making Money

Comments

Stop falling for the hype...precious metals will only bear what the economic standings are.

I have been receiving many inquiries of whether I would like to invest in precious metals and I just turned 62 years old. I have noticed the phone calls and mail sales have increased since I turned 60. I am so grateful to the FTC for doing what they can to protect us, and especially EDUCATE us about these scams

Should l buy gold and silver or collectible coins

if easy for you to do, i will appreciate a copy of the Senate findings and outcomes on matter of NIA
and NIH and the like :: if so pls send by email to my above email address as sender
_____________

You can read the FTC's Prepared Statement on ftc.gov. Any report from the US Senate Special Committee on Aging will probably be published on the committee's website when it’s ready.

you make it hard to get info to you, esp at
your "user name" which should be whatever i.d. the user, and not your preconceived ideas of whatever
--- also your distorted word salad of random querky letters etc are of no help to you and thus should be readable easily, o well

I was not convinced by this marketing as a čast-iron investment. Luckily for me I ignored it.

if you can get congress interested in helping folks get and preserve assets for use in old age,
then Congress ought set-up Mutual, non-profit, funds and op same with some hi caliber usEmployees:
since some congressmen are older than old and have gathered funds for their retirement these folks should be in on chit chats on how to save assets for old age use thus those who have saved should should be used to op above funds ::
funds ought be voluntary, any amount for savings, no requirement to draw down, tax exempt similar to law on exempt orgs:: no guarantee as to amount available after invested (only in usGovt entity assets known to appreciate over time):
thus the ideal funds would be self serving by usgovt funding and part time use of top dog usgovt employees including congressmen but excluding justice dept and president and their related employees, for obvious reasons::
a nice add-on of cash would be a fund who buys up
debt being issued by usgovt and never put on mkt for others to purchase thus keep these loan issues pristine and profitable, all profits pro rata distributed to members, none not even any surplus given to usgovt who someday must stand on its own two feet and be self sufficient which they can be now but are too lazy to put forth the saving of usa
--- if usgovt should get involved in this they should by email send me ongoing narratives of what they are doing and what they are planning, for my comment which is only friendly not binding: of course this is an ideal and given the track record of some congressmen it will sink like a bomb due to ignorance or lazyness or whatever
______________

you should not be so fussy, hire one more high school drop out to handle emails by other hi schl
dropouts, or any of no sense, thus they can chat and show appreciation for the efforts, eventually this pays off because more folks will know of this courtesy and be bold and send their opinions which usGovt does not have to exercise but can thank the sender, as is common decency, and use some of these suggestions or whatever which may or not make your day but will be seed money for suggestions you can employ
_____________

I have some reasons to investiment in gold because i need some support to my live.

Leave a Comment

Commenting Policy

Read Our Privacy Act Statement

It is your choice whether to submit a comment. If you do, you must create a user name, or we will not post your comment. The Federal Trade Commission Act authorizes this information collection for purposes of managing online comments. Comments and user names are part of the Federal Trade Commission’s (FTC) public records system, and user names also are part of the FTC’s computer user records system. We may routinely use these records as described in the FTC’s Privacy Act system notices. For more information on how the FTC handles information that we collect, please read our privacy policy.