Right-Wing Media Fleecing Elderly Viewers With Gold Coin Ads
It’s not exactly news that the scare tactics of right-wing media are good for their bottom line as well as their politics. Just ask Alex Jones. But if you thought Fox News or Bill O’Reilly might hold themselves to a higher standard, think again.
From The Washington Post:
Dedicated viewers of Fox News are likely familiar with Lear Capital, a Los Angeles company that sells gold and silver coins. In recent years, the company’s ads have been a constant presence on Fox airwaves, warning viewers to protect their retirement savings from a looming “pension crisis” and “dollar collapse.”
One such ad caught the attention of Terry White, a disabled retiree from New York. In 2018, White invested $174,000 in the coins, according to a lawsuit by the New York attorney general — only to later learn that Lear charged a 33 percent commission.
Over several transactions, White, 70, lost nearly $80,000, putting an “enormous strain” on his finances, said his wife, Jeanne, who blames Fox for their predicament: “They’re negligent,” she said. A regretful White said he thought Fox “wouldn’t take a commercial like that unless it was legitimate.”