A man who decided to plunge $174,000 into gold coins he saw advertised on Fox News is now regretting his decision after losing roughly $70,000 on the investment.
In an interview with The Washington Post, disabled retiree Terry White explained that he invested his money in the gold-coin venture Lear Capitol without realizing that the firm charged a 33 percent commission for transactions.
White expressed disappointment with Fox News, which he believed "wouldn’t take a commercial like that unless it was legitimate."
White's wife, Jeanne, was more critical and called Fox News "negligent" for airing gold coin ads that bilk viewers.
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The Post's report notes how Lear Capitol and other firms like it have been blanketing the airwaves of right-wing media programs for years and pitching gold coins as a way to protect life savings from a purported "dollar collapse."
"An analysis by The Post of political newsletters, social media, podcasts and a national database of television ads collected by the company AdImpact found that pitches to invest in gold coins are a daily presence in media that caters to a right-wing audience and often echo conservative talking points about looming economic and societal collapse," the paper ads. "The Post found no similar ads for gold retirement investments in mainstream or left-wing media sources in the databases."