Larry Bates Has a Lot to Answer For

Jun 1st, 2011 | By | Category: Scam Alert

Let me begin this entry by saying that what I am about to explain is very difficult for me, because I hate to do anything that would be perceived as hurting the cause of Christ or creating division within the Kingdom. The last thing the world needs t

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o see is another scandal involving a Christian leader.

But the defense of the truth allows me to do nothing less than to reveal that Larry Bates — one of the best-known financial advisors in America – hasn’t been coming through with promised and owed deliveries of precious-metals orders to his customers.

Bates’ company, First American Monetary Consultants Inc. (FAMC), a Memphis-based, Christian business selling precious metals, is currently sitting on hundreds of thousands of dollars of paid-for quantities of gold and silver that have been purchased by clients but not shipped to them after extremely unreasonable periods of time have elapsed, in some cases many months.

Several clients have been attempting for weeks and months to get Bates to deliver the gold and silver that is due them. Making customers wait any more than a few weeks for precious-metals shipments is extremely unusual and is considered highly unprofessional, and worse, by other financial advisors who sell gold and silver.

For several months, ending last fall, I served as a contractor for FAMC and brought several clients to the company with precious-metals sales. Some of those clients are among those to whom Bates hasn’t delivered their purchases or those to whom he delivered purchases only after an extended time, or with changes he made unilaterally to the order; in some cases Bates made the shipments only after clients’ threats of legal action.


Bates has not responded to repeated requests by me, on behalf of Unreported World News and my clients, to explain his actions. Most recently, those requests have come in the form of e-mail messages and faxed messages.

These attempts to reach him followed my sending Bates four letters beginning in early December demanding that he pay me my commissions for sales I knew he had completed in November. Bates’ response was a December 8 e-mail in which he accused me of fraud. Each time, I also explained that I would continue to follow up and see to it that my clients received their shipments.

My attorney, Gregory Jones, also has sent demand letters for payment to FAMC; Jones also represents a number of my clients in this matter. Bates’ most recent response to these demands, in a letter dated April 14, also avoided the issue of undelivered orders to my clients and accused me of “not follow[ing] company policies and [making] false representations and promises to clients and potential clients.”

On the contrary, however, my clients have repeatedly thanked me for my “integrity” and for not leaving them hanging. None of them were contacted by FAMC about my dissociation with FAMC until very recently.

In early March, Bates finally contacted three of my clients whose metals shipments were long overdue and offered either to ship them their metals immediately or return their funds. Apparently Bates was responding to these women’s concerns because of my repeated demands.

My prayer is that Bates will correct these issues immediately and stop selling metals altogether, and that my former clients and all clients of FAMC will be serviced in a timely manner from here on out.

But Bates hasn’t responded forthrightly and in a timely manner to requests for order fulfillment from me, my clients, and other FAMC clients – or at least hasn’t responded with explanations for the delays in fulfillment.

That is a real shame, given how Bates has positioned himself as a trusted financial advisor to the thousands of Christians who are his clients, subscribe to his newsletters, read his books, attend his conferences, and hear and see him on various religious mass media.

Bates has been a frequent guest on Christian radio and television, especially since summer, 2008. He has appeared on shows hosted by Sid Roth, David Cerillo, and J.R. Church, and on the Point of View radio talk show hosted by Kirby Anderson.

Questions Without Answers

While Bates’ actions are ethically very dubious and highly irregular in a secular context, it is necessary to understand that he professes to make his appearances, conduct his marketing and sell FAMC’s products out of Christian concern for the finances of fellow believers.

Bates conducts conferences across America about the Biblical end times and the economy. At these seminars he offers clients the opportunity to buy metals and have

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IRAs and 401(k) accounts rolled into precious metals.

He passes out a flyer titled, “Stormproofing Your Assets.” This slick, four-color brochure explains that unless gold and silver are purchased properly, clients run the risk of having their purchases “confiscated” when the economy collapses and the New World Order takes over.

Bates insists that the only silver clients should purchase or roll into their IRAs is coins. He specifically teaches not to purchase bars. In addition, he recommends that only certain types of gold coins be purchased because they were not confiscated under the Emergency Powers Act during the Great Depression. Bates also says that he “cherry picks” available supplies so that he obtains only the right kind of gold.

But his and his company’s behavior haven’t matched up with these claims, raising a number of questions.

First, why did Bates roll my clients’ IRAs into bars last November?

Second, how come other reputable gold dealers are not concerned with the issue of “cherry-picking”? I have sold clients gold from other sources, including U.S. $20-“libs,” and I received the metals that I shipped to them in less than a week. This gold looks exactly like the supposedly exclusive version for which Bates insists his clients must wait a long time.

Third, if Bates is so concerned about people getting their metals confiscated by the government, why is it taking FAMC so long to get clients their metals?

Some of the Sheep

Being unable to answer these questions for my clients launched me into an investigation of the answers for them and for myself. Normally, financial issues like this are strictly confidential between a financial advisor and clients. But in the cause of trying to understand Bates’ practices and to encourage his accountability to his clients, several of my clients and other FAMC clients agreed to share their stories publicly.

Clients from across the country have reported difficulties with this company. Among those are widows who have trusted FAMC and who have had to wait many months to receive their gold purchases.

A client of mine from Texas was the widow of a Baptist minister. She and her new husband came under extreme duress over her trusting Bates with a significant portion of her retirement portfolio. She was new to the concept of using precious metals instead of paper money for financial protection. However, when she attended one of my prophecy meetings, she began to understand and be open to the idea that paper currency has no value in a debt-based economy. She also attended a Bates Perilous Times Seminar and even met Bates and could not believe “that nice man” held her money, without delivering her metals, since September, 2008.

Among several other clients of FAMC, she and her husband contacted the Texas Attorney General. Finally, a few weeks ago, Bates himself contacted Lemon and made her the offer of immediate shipment of her gold, or a refund. She is one of just a very few of my own FAMC clients whom Bates or his representatives have contacted in recent days to attempt to settle their grievances.

Joanne Sternberg, a woman in her seventies, from Whiting, N.J., tells another very disturbing story. Sternberg watched Bates on a Christian TV program and proceeded to send him the majority of her retirement money in October, 2008. She had been extremely distraught over not having received the thousands of dollars in precious metals that she ordered from Bates. When she recently sent me a thank you note for helping her finally receive her metals, she encouraged me to contact an agency she knows who scrutinizes dishonest Christian ministries. Sternberg lives nearly on just the proceeds from her small Social Security check.

Not Tickled

A 43-year-old, self-employed woman from Phoenix, Charmaine Tickle, sent me this statement. “I am extremely upset at the fact that I had directed FAMC [Larry Bates’ organization] to purchase American Silver Eagle coins for me, and in fact they purchased a 1000 oz. bar instead. I was given no notification of this change in my order, nor was I given the chance to give my permission for this change to take place. The only way I found out about it is when I checked my Gold Star Trust account online and saw that it was purchased that way!”

Also, Tickle was told by a representative in the Ft. Collins, Colo., office of FAMC that once the Silver Eagles become available this year, the company will use their monthly allotments to start filling all of their back orders. The past (oldest) orders will be filled first, in chronological order up to the present orders. Tickle was told that they will notify her as to when this will happen, and then sell her silver bars and purchase the Silver Eagle coins for her account.

“I am also very upset that my precious metals were not purchased by FAMC and funded to my (IRA) account until November, 2008,” Tickle wrote to me. “I had been waiting since September, 2008, for the purchases to occur. I received no notification of the delay in [fulfillment].”

Another FAMC client disturbed by his interactions with FAMC is Mark Stokes, a 54-year-old business owner from Colleyville, Tex. He attended a seminar Bates conducted and ordered his gold in early August, 2008. “Where is my gold?” Stokes repeatedly asked. FAMC representatives told him that it was coming from Europe and that he should be patient. Finally in January, 2009, he received the small shipment, still unable to understand what took so long.

Diane, a 57-year-old lab technician from New York who spoke on condition of anonymity, hired Jones, the attorney, to help her obtain the gold and silver she ordered in July, 2008, after seeing Bates on The Jewish Voice television show and ordering his book. She was highly critical of Bates in her comments to me. She said that when she called FAMC in November, 2008, to find out where her gold was, she was told that the company was still then fulfilling orders from February, 2008. At one point, she asked for a refund of her payment but was told by Linda Barnes, an assistant to Bates at FAMC, that the company doesn’t make refunds. The woman finally received her gold in December, and with the help of Jones she finally received a refund of her silver in late March.

Orlowski’s Story

Fifty-eight-year-old Damian Orlowski, a retiree in Beach Park, Ill., ordered a large amount in gold from FAMC for an IRA rollover on September 21, 2008. “Normally it takes two to three weeks,” Orlowski said, to receive metals when he has ordered them from highly reputable suppliers, such as Lear. Orlowski didn’t receive his metals until mid-December, 2008. And because of the unreasonable delay, Orwlowski had to pay nearly $10,000 in an early-withdrawal penalty on his IRA.

“I lost nearly 17 pounds worrying,” Orlowski told me. Getting any cooperation from FAMC, he added, “is like beating a dead horse.”

For Orlowski, delays haven’t been the only disconcerting thing about FAMC’s treatment of him. In another transaction for a separate IRA, I sold him U.S. Silver Eagle coins in September, on behalf of FAMC. But Orlowski was taken by surprise when he received a call from Bates in November – unbeknownst to me — asking him if FAMC could roll his large IRA account into bars of silver instead of coins.

(Bates specifically teaches not to buy bars because , when it comes time to utilize precious metals as currency, it’s going to be a whole lot more practical to pull out silver coins than 1,000-ounce bars of the metal.)

In any event, Orlowski reluctantly agreed to allow FAMC to roll his IRA into silver bars despite Bates’ specific earlier warnings against the practice. Now, despite the fact that he has received the bars, Orlowski remains greatly disturbed that he agreed to the move.

As of Monday, May 4, Orlowski has been told nothing by Bates or any FAMC representative despite his repeated attempts to have the company replace his silver bars with coins. He recently contacted the Ft. Collins representative of FAMC who handles IRA rollovers, who told him that she didn’t know when the coins would be available.

Orlowski also faxed Bates at his Memphis office several times last week, on two different fax-machine numbers. FAMC’s only replay was to acknowledge receipt of Orlowski’s April 30 fax and to remind him that he could “only communicate investments matters concerning your IRA through your trustee, Gold Star Trust Company,” via a “Written Investment Direction Form.” (In this case, a “trustee” is the entity that actually holds the metals for Orlowski’s IRA; FAMC was the selling agent.)

“There is no customer service” at FAMC, Orlowski said this evening. “They take your money and tell you to get lost.”

The Last Straw

My own biggest regret in all of this is that I didn’t act even more quickly to counteract Bates’ business practices once I began to see what they were.

For five weeks before the elections last November, Bates took a road trip in his “mobile” office. He explained to me and the crowd at the September 27 Dallas/Fort Worth Perilous Times Seminar that he was travelling and speaking to try to help John McCain become elected president instead of Barack Obama.

But I recognized that among the other things Bates wasn’t doing on his road trip was taking time to cherry-pick shipments of the gold that he owed many of his clients. Each time I called FAMC — and I have e-mails to document this — I was told that the staff was so busy sending out DVDs of Bates’ remarks that they didn’t even have time to provide me with sales leads from the Dallas conference; this continued for nearly a month after the conference.

One more incident involving Bates helped persuade me that he wasn’t being straight with all of his clients. One of my clients ordered $75,000 in gold in June. Bates agreed to bring it to her personally when he came to Dallas to lead his conference in September; he said he wanted to “hand deliver” it.

I was shocked when Bates didn’t produce this order upon his arrival in Dallas. Here is what he said, in a letter, when my client demanded her money back: “Your problem is that you don’t listen and you try to hear what you want to hear. Our communication to you has been clear and concise from my self and from Anne Trimble, as well as the written terms outlined on our Order Confirmation and invoice as to estimated delivery times. Your claims to the contrary are pure nonsense.”

Was this any way for a so-called Christian leader to speak to a widow? Not in my book. The date of that letter was October 22, 2008.

With my reputation on the line, I stopped selling any metals products through FAMC after the Dallas conference. Ever since then, I have been trying to recover from him the metals that he owes my clients and other FAMC clients, as well as commissions that he still owes me.

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106 Comments to “Larry Bates Has a Lot to Answer For”

  1. Jeff Duncan says:

    There is no doubt that he is not only making money on the amount over spot, but also in the interest accrued from having hundreds of thousands of dollars invested. In my personal dealings with him, I am extremely disappointed that he has treated you and how rudely he has answered me. Remember: it’s not your opportunity to expose wrongdoers… It’s your responsibility!

  2. barbara weiss says:

    i will be praying for you ! and for your chrisitan efforts. i thank the dear Lord for your integrity and for your desire not to harm the Body of Christ. you are indeed a special woman raised up for times such as these. barbara in Maine

  3. Hi Anne,

    Bless you and thank you for sharing your blog with me.

  4. Susan Walker says:

    Dear Anne,
    There is not an adequate way for me to express how thankful I am for you, your faith and willingness to go to bat for others. Thank you for STANDING FIRM FOR THE TRUTH.

    Thank you for focusing light on a company so others can see more clearly why they might want to do business elsewhere.

    Because you led the charge, my order of precious metals with FAMC was finally delivered. Of course it took 5 months. I had made several calls, sent a personal demand letter and NEVER had a response from Mr. Bates of his staff.

    May God bless you and yours,

  5. James says:

    The problem stems from the fact that the company isn’t dealing with actual product. They deal in “paper” only. This means that they buy a “certificate” of silver from someone else having never seen or touched the silver. This “certificate” or “paper silver,” as I like to call it, comes from someone else who got it from someone else, who got it from someone else…basically it is “leased” silver. If you actually want your silver you have to wait up to as much as a year to receive. Why? BING the following at

    paper silver
    paper derivatives

    I think you will be surprised…

    Also, as a Christian I find his News and Views show very offensive. Why? Listen to it and ask yourself where the compassion is. This show is no better than Rush.

  6. michael says:

    My mother has been calling since November 2008 and has not gotten a delivery of her metals. Excuse after excuse. I believe that this is another ponsi scheme. looks like bernard made off again. Larry step up to the plate and put your money where your mouth is and do what is right, we the people are counting on your answer. If you can’t answer the call get off the radio because you are hurting godly people.

  7. Karen says:

    I too have been taken in by Dr. Bates. I began investing in precious metals in 2001 because of what he said on his radio program – that it was a way to keep your money safe because of the declining dollar and the risks in the stock market. I trusted him because he claimed to be a Christian. I sent him a cashier’s check for quite a bit of money in July 2007 and still have not received my order for gold. I have had the exact experience as the others, being put off by his staff at FAMC, including his son, Chuck Bates and getting no response from Larry Bates himself, except a derogatory remark about me when the Better Business Bureau asked him to respond to my complaint. The BBB still gives him a B+ rating, which is misleading to prospective investors. I think all of us who have been swindled by Larry Bates should report him to the Christian radio stations he uses to advertise his services with the hope they will take him off the air before he hurts more unsuspecting people.

  8. Dave Leland says:

    I stumbled across your web site and was quite suprised by what you where saying about Dr Bates. I ordered 10 oz of gold from his company FAMC,and was quite happy with the service I recieved.I did have to wait a while but the coins I recieved where all very high quality (much better than the ones I bought at another gold company) I hope you dont have some personal vendeta against him.I like Larry and Chuck and I found them both to be fine christian men. Yours in Christ David

  9. says:

    Knowing what you know today, what type of gold do you reccommend buying and from who? both for an IRA and for direct buy. Thanks

  10. teck says:

    This is so shocking. He sounded so convincing when he spoke in Singapore last week. I shall be careful.

  11. JS says:

    I agree with you, everyone who has been swindled by this man needs to file a report with the BBB and also put the pressure on the radio stations.

    Anne – thank you for this information as I was just doing a search on Larry Bates as I bought a dvd from a Christian broadcast and I thought $75.00 was a huge amount of money for the info he supplied. I was going look into buying gold from him, you stopped me in my tracks! thanks to you! Lord Bless!

  12. Jan says:

    Dear Anne, I understand what you are saying. I was working with Dr Bates, under supervision of a local pastor in Singapore. When challenged by a lot of savvy investors on a safe and sound Standard Operation Procedure, written guarantees and exit strategies, I have never received a professional reply from any of them. Long delivery times and in the case with one client here in Singapore who is highly dissatisfied with Dr Bates, it is to such an extend that I am to comfort the old man now.
    Though I agree to a large extend to the messages he teaches on finance, I do not adhere to FAMC business practices and definitely not the way of their professionalism. (Kindly not publicize this publicly, it is just a way to communicate with you. Thanks. Jan)

  13. F. Pellerito says:

    Your May 6, 2009 posting exposing “Dr.” Larry Bates’ unscrupulousness
    confirms my suspicions. For years I listened to his “Unraveling the New
    World Order” radio show until I realized Bates has a hidden agenda. His
    new show is called “News and Views” as he has given up “unraveling” in
    favor of the more profitable “joining” the NWO. If you call in to his
    show and attempt to enlighten his audience on the truth of a particular
    matter he will either talk over you, edit your comments using their forty
    five second delay, or cut you off and then proceed to spend the next five
    minutes attempting to make your remarks look ridiculous(and yes, that
    includes lying). But what do you expect from a former politician? By
    the way, that fact, as well as his boast of being a “former banker”(why
    would anyone give up such a lucrative “profession”?), should raise more red flags than a May Day celebration in Moscow. Has anyone checked out
    his credentials? Before you hand over your life savings to anyone, I’d
    highly recommend you do that. I’ve known several people who’ve been
    taken by so-called “Christian businesspeople” who seem to get a free
    ride by our trusting bretheren. This man needs to be exposed and this
    website should be forwarded to as many people as you can before it dis-
    appears. Already it’s been moved from page one to page two when you
    Google “Larry Bates financial” and I’m sure he’ll do his best to bury it
    further. Also, your local station carrying his show or advertising
    should be notified and referred to this website and pressured to remove
    him from their programming. Although I’ve never had financial dealings
    with this former banker/political crony, if I were one of his victims I would pursue him to the ends of the earth with a lawsuit so that his
    hustling days would be over. Forget the Better Business Bureau–it’s a
    waste of time. Go after him civilly and criminally so that he can’t
    fleece any more unsuspecting Christians. God bless. Frank

  14. Former Employee says:

    I worked for Larry Bates and I have a lot to say about him to comfirm his dishonesty. I would like to talk to you further. It is very important I speak to you.

  15. Former Employee says:

    He is the owner of the largest Christian radio Network in the USA. IRN/USA radio merged about 2 years ago, look it up in google. He is also in christian TV giving people advise to buy precious metal and he probably is using people’s money for other pourpose. Do not invest money to FAMC ( First American Consultants ). If you have been a victim just go to the attorney general for German Town TN.

  16. Nancy says:

    I thought I would do some investigating on Dr. Larry Bates. I am certainly glad I did and discovered this site. About a year ago I sent off and received his book and DVD. I am so thankful that I did not go further. At the end of the DVD, upon view, there was intruction and promise of sorts. This instruction and promise was that the viewer make a phone call to a certain ph. # which would entitle the purchaser of Bates book and DVD, a free instruction pkg./guideline to Economic Survival. I called it, gave my name address and phone number to a lady who said she’d send it. I have not received or heard anything since. Anyhow, it’s obvious that this man is NOT a Christian, people. I am so sorry to hear about all this loss. Bates is a Wolf in sheeps clothing. We have been warned that Satan can appear as an angel of light. I will tell you that I had no idea that Bates had any company where he’d gain financially as FAMC. If I had, I would not have even ordered his book! I am Apalled! Evil flourishes when a good man stands by and does nothing as stated in Proverbs. I am going to be praying about this. We have Laws in this country and there is still some semblance of justice left. We should utilize this while we can. If this is not evil that has not happened then the LORD will provide a protection for Bates. I am sorry, but I will not stand by and blink because I am worried this man will tarnish Christian reputation. All the more he should be exposed by the ones he claims to be part of. Doing so would be testimony to all non-beleivers that we do not want to affiliated with evil, that believers want truth. As I said I will truly pray about this. I will take action to expose evil if the LORD speaks to my heart. I feel that the LORD is speaking to me now just by me finding what I have read here. Again though as I said, I will pray and wait on the LORD.

  17. delsie gavali says:

    I am one of the one who has been swindled by this company this is ditto

    I ordered gold in march and have called the sales person umpteen times a

    and get the same answer it is coming ,be patient , you are in line ,

    we’ll bump you up, complaining to Larry Bates has got me a few lines that

    Larry will get back to me that was several weeks ago, thankyou for your

    expose I will take action now ,Christian or not. I am a widow 74 yrs old

    and wanted to have coins for the same reason as mentioned in his news

    letter I have been had and it makes me very angry. Delsie Gavali

  18. Edwin says:

    Hello, Larry Bates was a guest on a TBN TV show called “Jewish Voice” with Jonathan Bernis. I ordered the dvd and book set they offered. After viewing the DVD, I asked for the Free Economic package he said he would send. After receivng them I decided I would try to buy a small amount of coins first as a test. I noticed that when I first called to purchase silver coins I left a message a few times without any callback. Finally their operator left message for Larry’s son Bill. Plus I asked him and thats how I know Bill is his son who also took the metal order. Well the delay in callback should have been some indicator as to how they might run their business, but I trusted them because Larry gives indications that he is a Christian. I got the brochure “Storm proofing you assets” . Larry seemed like he really wanted to guide Christians to prepare for the bad financial times he says are ahead. I did order some silver coins from his son Bob who told me it would take 30-45days for delivery because of delay in the US mint production. And although I got an order confirmation, his son never told me that payment should be made within 48 hours of placement of order. It’s only after I got the confirmation Invoice that I learn all of the terms and conditions! Lesson learned. Make sure you ask for a copy of their terms and conditions first!!!! Only after you read them, then make up your mind. I am going to see if they come through on their end and fullfill my order. I wish I would have seen this website first. If Larry is a deceiver, then he already has his reward.I will follow up and let you all know IF and when my order is filled. May God bless you Anne!

  19. irwin dorsey says:

    Iam troubled by this event but GOD let me see your pain.Is there an honest precious metal broker?

  20. delsie gavali says:

    I have filed a report to better business bureau in memphis tennesse

    you can go on line and give a brief description of the claim and they

    will take your complaint on line. Also Tennessee division of consumer

    affairs on-line complaint will take the matter . I have done both, if

    every one who has been scammed by this company filed complaint they

    will be investigated and their business closed. I urge every one to do

    the same as soon as possible to get your money back.

  21. Linda says:

    I am glad that I came across this website because my husband and I were just talking today about purchasing some coins from Larry. I will not purchase any now. Wow, this guy is so good. I didn’t want to believe this when I started reading it. I thought he was the real thing. Thanks to all of you that shared your painful experience. I have been deceived by people before and lost money and it doesn’t feel very good and it is hard to admit. At least you are helping many others by sharing your from your heart. Thanks again.

  22. F. Pellerito says:

    Since I posted a comment on 10/10/09 there have been four more comments on “Dr.” Larry Bates and this website has moved from page two to page one when you google “Larry Bates financial”. I called my local radio station and the station manager, who has already had complaints from listeners, promised to view this site. I’ll be following up on it this week. In the meantime, does anybody know how we can get Ann’s site to come up whenever anyone searches “Larry Bates”, “Larry Bates economist”, “Chuck Bates”, or “FAMC”??? That would certainly help reduce the number of new victims. Let’s spread the word about this guy and if you’ve been cheated by him and his cohorts, DO something about it. Contact your state’s Attorney General for starters. Most states have enacted laws which deal more harshly with those who prey on the elderly. If you can afford to, hire your own attorney to prosecute your case. Bates & Co. has to be stopped! God Bless. Frank

  23. Dear Anne,
    I am so glad I found your expose on Mr. Bates. I had attended his seminar last year in St. Louis, and left quite impressed and shaken. His seemingly biblical view of finances was a huge paradigm shift to what I had grown up to believe as truth, and it took me some time to recover from the shock of this new way of thinking with regard to investments. I was ready to cash half of our retirement into gold, but thankfully I’m married to a skeptic who wouldn’t allow such a thing without adequate research. Since then, I’ve been slowly but surely researching the pros and cons of gold investment in light of Mr. Bates so called “wisdom”. My husband and I and my mother as well have been trying to make the best investment decisions with our retirement funds. We’ve been prayerfully praying and asking God to mark our steps with our retirment funds. So today I was going to call his company to get more specific information, and as I was searching the internet to get any info. already available online, I thankfully found your very valuable information. What an answer to my prayers!!! THANK YOU FOR YOUR HONESTY, even if it means it had to tarnish a so called brother in the Lord. If he is a true Christian, may God seriously discipline him in such a way that he will make good on his business dealings. And if he’s not a Christian, well as the person said before me, he has already received his reward, and God will ultimately judge him in due time.

  24. Mary Walters says:

    Wow! Larry Bates seems so sincere. I saw him in 2008 at his Dallas conference. Thank you for exposing the “other side” of Larry Bates. How does one find a reputable precious metals broker?

  25. Teresa says:

    My goodness, who can you trust these days?
    It was actualy by accident that I got to your site, but what a surprise.
    May I just ask: Is it still safe to do what he recommended, in buying precious metals?
    Now as Mary asked in her letter: Who is a reputable precious metals broker?
    Now, I am from SA and will find (hope to) a broker here.
    If all that has been said, is true about Larry Bates, please read Proverbs 6:31. ( He might as well read it to )

  26. Arthur says:

    I had a real problem with the FAMC today, I called this morning, of course I got Chuck Bates assistant Denise’s voice mail. At noon I called and also got a voice mail, so I asked to speak to a live person. I was told that they were out to lunch and I should call back at three. I called back at 2:50, I was told that Denise was supposedly out to lunch yet. I left a voice message, then called back 4 times in a row only to get her voice mail. I finally called again and asked to speak to a live person, the operator tried to blow me off again, so I told her I had been trying all day to get through. This time Denise answered the phone and said that she was just getting ready ro call me back. I asked for my silver only to be told that I still had to wait as it wasn’t in and to be patient, I told her it was way past the 45 days now and she said well it says on the back of the agreement it may take longer. Then she said what are you worried about you are making money as it has gone up, when I tried to tell her she was wrong that it was worth less, however that wasn’t the issue she started in on how silver goes up and down and I shouldnt have a problem. I told her I wanted my silver now and she wouldnt let me get a word in edgewise and said good bye. I called her back and by a fluke I got her again and I advised her that silver was down 80 cents per oz. and I didn’t like her lying to me or hanging up on me. again she started h er spiel and when i tried to say something she threatened to hang up if I tried talking over her, however she wouldn’t give me a chance to speak. So anyhow now it looks like it will be more thatn three more months. I will be giving you a call in the morning on the number you went me in todays email. I’m so frustrated by the way these people treat others.

  27. Arthur says:

    Larry Bates called me and offered to express mail me my shipment as it has apparently arrived and is in shipment, or send it regular registered mail. I chose the registered mail, so should see my coins in a week or so. If not I will contact you again. I had already contacted the BBB. and will let the complaint stay until I get physical possession of the coins. Thank you for your offer of help.

  28. [...] coin dealers in this country had found and read my blog items from last spring about Larry Bates. Larry Bates Has a Lot to Answer For. Within 24 hours I was speaking with representatives of two of the five major coin companies, [...]

  29. Bob L says:

    I ordered gold and Sliver in august 2009 and was told I would recieve it by no later than Dec 2009 and that the silver would ship sooner Now I still cannot get a date from them to deliver and they are saying that the silver will be much later and to sit tight… I am done sitting I am going to report the to the BBB today and start a demand letter… Is there an attorney that I can contact, I am in Colorado???

    Thank you a very upset former client of Mr. Bates

  30. Bill Prescott says:

    What difference will it make if you have coins, bars, tailings or jewelry when the crap hits the fan? Propaganda in this country is so rampant. If paper money is not of any value, what good is the coins or anything else?
    Deceptive people thrive on the ignorance and radical compassion 75% of what U.S. people live by. It’s a dog eat dog world out there along with too many people and too many choices. If we would think in more detail and not just act and “feel” everything that happens you’d have a more knuckle down society.
    For some reason people think everyone “cares” for each other and thats not true. Greed and any forms of money will kill the average person. The crooks, liars and cheaters that have any hand in the “money” department can not be trusted at all.
    My belief is anyone I’ve encountered with a college degree concerning any financial doing degrees like MBA of administartion and especially accounting have a college degree to rip people off!
    I’m sadened to read all the disgruntled people that fell victim to another scam on how to rip off society after other organizations “got theirs” through the oil industry and bankers that have so called college degrees and slept through the class on NOT loaning money to individuals that really couldn’t repay it from the start!
    If this Larry joker worked in Washington along side the others who rocked your world, why did you fall victim to such hogwash? Everyone is scarred and scared from the previous years disaters from your Govt. and all the liars and are scrambling for some quick fix to avoid future situations that will never happen.
    As long as you trust “Man” you’ll always have unresoled situations that will never change. it has to come from an outside source that MAN hasn’t created or control of.
    It reminds me of the computer, whay do they go biserk and don’t act right, its a computer why is this happening? Because MAN made it so it can’t be perfect. Same goes with what your about to deal with regarding each other and the complications ahead.

    Try remembering this and do so if capable:
    1. Keep it simple.
    2. Don’t believe everything your told.
    3. Quit lying to better yourself.
    4. Tune out the propaganda.
    5. Materialistic thought process will destroy you.
    6. More money means more headaches.
    7. Take time to REALLY think it out before deciding major moves.
    8. If it seems to good to be true, it probably is.
    9. Most are in it for their own gains not yours.
    10. Stop the drama and gossip for conversation.
    11. Avoid the serotonin or brain drugs they so freely perscribe.
    12. Be a solution to the problem, not a problem to one.
    13. Account for your actions and not blame others for your moves.
    14. Save, save, save NOT spend, spend, spend!
    15. Become close to whatever GOD you belive in and stick with it.
    16. Avoid the “Super God” ministries or “Big Wheel” evangelists.
    17. Stick with what works and those who make it run as such.
    18. Believe 1/2 of what you see and nothing of what you hear.
    19. The T.V. is the best propaganda tool today, so use #18 above.
    20. Rationally think it out not emotionally think it out.

    These are just some of numerous suggestions one should know for growing up in this cruel world and its funny how it’s totally forgotton or pushed aside because it’s NOT easy and most look for the “Free ride” than to be an assett. See what being FREE really got you?

    It’ll be a better life once were gone from here and finally with the creater!

    I don’t claim to be a know it all but I know when I’m being led the wrong way and can read people really well!

    Good luck to you all and stay away from the garbage, huh?

  31. michael from Ga. says:

    I to have waited patiently past my delivery date for my silver eagles.I have made several inquiries of the past due dates and given different excusses.This past week I was told that the bank[hsbc]where the metals were stored was audited and the metal was being moved.Most people with credit cards should be familiar with h.s.b.c.This bank is involved in high intrest finance and credit cards.The main reason for dealing with Dr.Bates was to avoid dealing with the world.Because of this organizations deception, i now know that i was dealing with the world.

  32. michael from Ga. says:

    Before this company is shut down we need for them to be forced into not taking any more new orders.All new orders should be satisfied,then Dr.Bates should be held accountable.Some how those with good intentions should be forwarned that there is a credability issue with this company.Had I known some of his Christian beliefs were actually the traditions of men,I would not have supported him.

  33. michael from Ga. says:

    The BBB has listed on their web 17 complaints against Dr. Bates company.All are concerning shipping.This information need to be easaly assesable.Also by word of mouth,please advise your friends and family to do their own research before investing in the future.

  34. michael from Ga. says:

    Has the State Attorney General been made aware of the situation with Dr. Larry Bates?If yes,what is there office doing about this ponsey?If not,then someone please publish the correct email address for the rest of us can make the appropriate complaints.

  35. michael from Ga. says:

    I need assistance; FMAC is located in Ft. Collins,Co. Dr. Larry Bates is opperating out of German Town,Tn.. Which State Attorney General should we complain.

  36. teri says:

    I wish I had read this post before I ordered my coins! Now I am worried if I will receive my silver coins! You are right about one thing, there really is not any customer service…you are just ordered to be patient and wait for your order to arrive someday in the future.

  37. michael from Ga. says:

    A couple of days ago,I left a voice message with the Consumer Affairs Division which is a part of the Tn. Attorney Generals Office.I am intrested in seeing if and when they will return my call.Consumer Affairs will not take complaints unless the company in question has been notified first.Just in case someone is not sure,here is a good example:Ahouse is burglarized-go talk to the burglar and complain to the burglar before notifying the police.

  38. michael from Ga. says:

    Find out up coming schedule,or where regular appearances are made and ask the program host your questions. Ex: Does guest rep. or history matter? What about passed business practices?

  39. michael from Ga. says:

    Find out up coming schedule,or where regular appearances are made and ask the program host your questions. Ex: Does guest rep. or history matter? What about past business practices?

  40. michael from Ga. says:

    On Dr. Larry Bates web address there are others listed that the Doctor is connected to; Call or email these organizations and ask them about the doctors complaints with the BBB and his deceptive practices.Just in case you dont hear from me in a while,lets agee to keep the Light on.

  41. michael from Ga. says:

    Hello my brothers and sisters. Recently i have been taking my own advice and seeking wisdom.The Book of Proverbs says that Wisdom is more valuable than gold;and understanding is more valuable than silver.Those that have not prepared for today are running scared.Greedy people are taking advantage of peoples fears,including jackleg ministers.Our Father didnot give us the spirit of fear,so calm yourselves down.Quite often those that preach fear are very deceptive and would like nothing more than to seperate people from their money.There is a conspiracy based in deception to increase the demand for precious metals around the world.The same group also controls the supply.It is one deep scam.

  42. michael from Ga. says:

    If you are looking for silver eagles,go to where every one else is going to buy them from-The United States Mint.However the delivery is often times slow but at least they will be honest with you.They will stop when they cannot get the b l a n k s in to make the coins. Also the Mint profits 55 cents per silver eagle.

  43. michael from Ga. says:

    Now that fear is running its course on the silver markets, i take my hat off to the sellers of precious metals. It appears that they have succeeded in creating a bull market for silver.Please my brothers and sisters dont get caught in this scam. It is a fact and truth that the dollar bill/federal reserve note is w o r t h l e s s. It always has been,and always will be worthless. The next time you hear from me i will share how to redeem federal reserve notes yourself,and it will not cost one red cent.P.S. always seek wisdom. get understanding.

  44. michael from Ga. says:

    Two quick reminders; Luke,17:20-23.Be carefull of those who have all the answers.Matthew,10:8.Be carefull of those who charge for answers.People have 5 senses.Most only use 2 of them.Especially during the time we are in,one must be able to use their Spiritual flashlight.The ability to Spiritually descern the times.Green backs belong to the Federal Reserve.Redeem the green stuff for 1.00 President coins.One for one.The coins are made at the U.S. Mint,and contain approximately 85% copper.Copper is a precious metal.The coins are currently at banks.

  45. michael from Ga. says:

    Earlier,i stated buy directly from the U.S.Mint.It takes a large amount of wealth to become an Authorized Purchaser with the Mint.The Mint will not sell to the public.Purchases must be thru a network of wholesalers,brokerage companies,precious metal firms,coin dealers,and participating banks.Pull up U.S.Mint-put in a zip code and they will list the dealers for your zip code.Whew.

  46. Diane Farqar says:

    I was watching the Jim Bakker TV Program. The quest Larry Bates was on all week. I believed what he had to say, and I ordered his Book package from Jim Bakker show. Now I do not feel confident in him as a person. Have Jim and Lori Bakker been contacted regarding your report ?I am from Canada and would like some follow up if available. Thank You Diane

  47. michael from Ga. says:

    The U S Mint should start shipping Eagles this month. Those that have been waiting should have orders completed soon.For those paying attention,it should be obvious that the wizzard of oz is not sitting on 50 million in precious metal assets.In the future help me to control my emotions.

  48. michael from Ga. says:

    i am continuing to await delivery of silver eagles. if you have close friends or family,please insist that they do their homework before handing over cash.once again i remind everone to go to the web and they will have authorized purchasers for your zip code.its been two months passed the 45 day delivery date and no silver.i dont inquire anymore because the stories are not cutting the mustard anymore.

  49. Teri says:

    I ordered a large sum of silver coins back the first of November 2009 as well and am still getting the run-around from my agent. Larry Bates seems to be holding money from mostly women who have fallen for his Christ like concern for their future! I think everyone who has dealt with his firm should contact the Christian Shows, TV & Radio and warn them of his business practices so they will quit helping him advance his practices.

  50. Helen Gray says:

    I also sent a check to Chuck Bates in May of 2009 and after many phone calls, emails have only gotten a portion of what I ordered, and that was with much trouble and grief. I am a 53 year old widow with two of my children at home. So not only is this affecting widows but also my fatherless children. I have 3 grown children who are watching this ungodly behavior as well. Not only have they lost their father, but now they are seeing unjust and unrighteous dealings. My prayer is that justice will come for the innocent. May all who have been cheated in this receive 7 fold what has been stolen from them and their loved ones.

  51. Karen says:

    Just because it has taken a long time to receive your metals does not make him dishonest. You would not have the knowledge that is going to save you from monetary devaluation, and quite possibly, the loss of your decision making power if it were not for Mr. Bates and his determination to promote what he discerns to be the truth regarding our monetary policies. There have been times when the silver coins from the US were not available. Do some research. Mr. Bates does scrutinize the quality of metals and will not accept inferior qualities. Perhaps that is some of the reasons for the delays. I suggest you pray for him to have wisdom and for his staff to be better communicators and more organized. Wouldn’t it be a shame for all of the critics to win out and the message be lost so that those who could have heard how to prepare would not have heard. Although, those here have heard the warnings. And, from Mr. Bates. All businesses have their shortcomings. This group is awfully critical. Imagine our nation during perilous times without a voice like Mr. Bates. At least he is putting his money where his mouth is. Best wishes to you all in procuring your metals and preparing for what lies ahead.

  52. michael from Ga. says:

    i am still awaiting delivery of my silver eagles.if anyone has friends or family that is interested in precious metals? please steer them clear of this organisation. it is cheaper to deal with the authorized purchaser in your area.silver eagles are going for a few cents over 20.00,and the ship for a fraction of the is approximately 2 weeks. i said delivery in approx. 2 weeks. silver prices are stable in spite of the market being manipulated. dr. bates need a good laxative.

  53. michael from Ga. says:

    has anyone asked for a refund fram famc lately. there is a stall tactic in play.apparently everyone is requesting a refund becuase of undelivered orders. what exactly is a ponzi scheme anyway.

  54. michael from Ga. says:

    I once asked for a full refund.I was told by a representive with the company that L.B. wasnt refunding money.Everyone who has had poor customer service need to vote with their shoes.We are obligated to insure that our family and friends stay clear of this orginization. May God Bless this Nation to wake from its slumber real fast.

  55. J Kay Shapan says:

    My aunt and her husband invested $30,000 in FAMC and they have not received their gold either. My partners and I are launching several new websites in the senior category and I am going to put Larry Bates at the top of the “watch” list and republish the article above on all of of the sites. and

    And I am going to contact the news wires to make sure that Larry and Chuck Bates are exposed all over the Internet for taking advantage of seniors using fear and religion to take advantage of seniors.

    What greater fear than to put your life savings in the hands of someone who is promoted on Angel TV, God TV and on and on!

  56. J Kay Shapan says:


  57. Mike says:

    Unfortunately I ordered gold coins in November of 2009. I was told that delivery was 2 to 4 months behind it is now mid-April and after being given the assurances I would be taking delivery soon, nothing has happened. After reading your article I can see why. I hate to resort to threats of legal action but I can see my choices will be limited.
    Thank You for your honesty.

  58. Cynthia says:

    I can’t thank you enough for putting your neck out on the line to share this information. It seems the sheep in wolves clothing abound these days, and we must all rely strongly on the Lord to discern who is who. I pray the Lord restores all your fortunes and those of your clients’ and that He rewards you mightily for your warning testimony. And by “fortunes” I don’t just mean money. For even when people finally get their precious metals, the loss of peace is something no amount of money can make up for, so this I especially ask the Lord to restore bountifully — perfect peace for you and all your clients — not just in the next life, but in this one. Thank you again so much.

  59. Sue says:

    Larry Bates, FAMC, and consultant Cheryl L. DeYoung, are all swindlers! Beware!!! My poor mother has put the bulk of her savings into gold and silver with these criminals and they have not given her either her gold or her silver. She is completely terrified that they have taken her life savings. Cheryl L. DeYoung is the consultant that is giving us story after story as to why the gold has not been delivered, even though it has been 6 months since purchase for the gold and over a year for the silver ordered. I guess we are going to be forced to get an attorney to try and get it back. This is the worst scam on senior citizens that I have ever heard of. These people are absolute scum for doing this.

  60. kevin says:

    larry knows more about banking poltics then about christ and his father

  61. kevin says:

    kevin :larry knows more about banking poltics then about christ and his father

  62. Norsworthy says:

    Thank you for posting this page. I have been trying to get delivery on a very large purchase of silver coins from Dr Bates since Nov. of 2009. After many phone calls to my agent and Dr Bates personal secretary, we finally received our coins on June 3,2010. I was extremely dissapointed in the way FAMC does business. You could get no information and they will not let you talk to anyone accept your rep. I felt sorry for him because from what I understood, his coins were tied up too. I think all the Christian TV shows that have him on as guest should check his business practices out before having him on air.

  63. FmrFAMCconsultant says:

    All these stories are very familiar to me, also a former consultant for Bates’ FAMC. This should come as no surprise to anyone who really knows the man, he is not a Christian, he is in fact a 32 degree Mason. I also had several clients who could not get items timely delivered and when delivery was made, the clients were cheated as to both quality and quantity. We had to get the FBI involved.
    Buyer beware !

  64. FmrFAMCconsultant says:

    I just checked with the BBB and FAMC in Ft Collins Co is rated “A-”.
    I have never had much regard for BBB and this confirms by thoughts.
    BBB is leary to give ay business a negative rating because they are worried about lawsuits.
    I agree with the others here who said that all complaints should be directed to state attorney general offices and FBI. Also, look into a complaint with the U S Post Office since he uses the mail.

  65. This is terrible. I gave famc Half of what I have to my name. I gave them $30,000 last July 2, 2009. I received half of my order. It has been over a year now and they still have $15,000 of my money. The last two times that I called, I was told that new shipments were being shipped out. That was May & June of 2010. I cannot get a refund from them nor can I get my gold from them. I am please asking for prayer in this matter. Help. I am 61 years old and am not in the best of health. How can they say they are believers in the Lord Jesus Christ and continue to keep what is not theirs? This breaks my heart!

  66. Since I wrote this article, I received a phone call from my famc representative. He is refunding my $15,000. Thank you for your prayers. Please remove my old article, because this situation has been made right. Thank You!

  67. Hello,
    I am with WREG-TV in Memphis. We are interested in these complaints and would like to talk to anyone with information. Please email me at

  68. Teri says:

    @J Kay Shapan
    Did your Aunt and her husband ever get their coins?

  69. Joe says:

    @J Kay Shapan
    I have just heard him on the He wants to convince us that the bible will bless us if we let Israel keep invading more countries with our troops, bleeding our economy and ruining people’s lives here. I think god will bless those who do not use religion to slave countries, maintain communism so the American public can be convinced there are bad people in the world, etc. Obama said it in his campaign. Fear politics! Now the banking system has tied up borrowing so the democrats will look as if they have done nothing and the middle east invading republicans will be voted back in. Wake up America! We are being scared by religion, nuclear weapons, the economy, etc; while families are loosing their members in these wars that seem to be to give Israel the complete military control of the middle east.

  70. Randy Allen says:

    My son purchased $10,000 worth of American Gold coins. After a full year of waiting and multiple phone calls he agreed to receive French Bars as a substitute or his money back after having his money for over a full year. Years ago we purchased silver eagles from them and it took over six months to get them. I am very disappointed. I know that it is all dust when we leave this planet but as a Christian we should serve not cause headaches for people….

  71. Deon Barnard says:

    I am a South African – I have read Bates’ book on the “disorder” that that shall happen at the end times – some I buy some I hold my own tongue in the cheek opinion – BUT what I don’t understand as an Evangelical Christian, is that so Many American ‘Christians” have so many dollars to buy so much gold. Many places around the globe suffer famine and there is much suffering in your own country as there is elsewhere. Should your gold dollars not be spent to address these vital issues – or are you waiting for a pat on the back with our LORD’S : “Well done faithful servant, you certainly have a fancy gold collection. Just asking?

  72. dupedbutwiser says:

    I worked for FAMC when it was headquartered in Colorado back in the 90′s. After coming to the same conclusions concerning his “delayed shipping practices,” myself and another “financial consultant,” as we were called, hit the eject bottom and got out of there immediately. It wasn’t long afterwards that Chuck and one of Larry’s henchmen showed up at my door making threats. It wasn’t too long afterwards that some of us went to the FBI. They informed us that they were well aware of his ways, which they said bordered on the edge of being illegal. The man knows how the game is played, and has done it well for years making merchandise of people by exploiting their fears or stroking their egos in the name of the Lord.

  73. Carol McSwain says:

    After reading this article I was pleased to see that I was not the only one. I called FAMC after watching Larry Bates on Jewish Voice. So on April 1, 2009 and on April 24, 2009 I ordered 1,000 oz. silver bars during each call and some gold. It took several months to receive my gold francs but I thought, not having ever ordered silver or gold before, “well, silver must take a little longer.” Throughout this time, I called at least every two weeks to check on my order of silver. I received a call in October of 2009 and was told at that time that my silver bars had sold “for a profit” and that I would be receiving my coins in short order. After several phone calls over the course of several months, I finally became very frustrated, not to mention, extremely nervous with the thought that I may have been scammed out of approximately $32,000+. I called the BBB in Memphis and in Fort Collins. I then called my local police department and made a report after calling FAMC and being told that, “I would get it when it comes in.” Needless to say this elevated my concerns. My last call was in May of 2009 and I was very upset and threatened a lawsuit if I did not either get a complete refund or my coins. I was told that Chuck Bates had authorized a refund. However, the next day I received a call from his administrative assistant and was told that, “your coins just came in.” I wondered then if they had been holding onto my coins for some reason. Perhaps, but whatever the reason, I did receive my coins within a few days and have not had to contact them since. Being a Christian the Bible tells us that we should not take our “brothers” to law. But I really began to wonder if these people were really our “brothers” and were just calling themselves Christians but were really wolves in sheep’s clothing. I know one thing, I sure felt as though I was being fleeced! I thank God that it all worked out but not without much anguish on my part.

  74. Former FAMC Client says:

    PLEASE PLEASE BE VERY CAREFUL WHEN DEALING WITH SO CALL ‘DR’ LARRY BATES. I dealt with this man about 15 years ago and his scam today is the same as it was then. There is NO shortage of coinage or metals as he leads you to believe that would cause common issue gold and silver coins to take 4 + months for delivery.

  75. Alan says:

    Thanks for the alert! I actually did business back in the early 90′s with FAMC in Ft. Collins. Norm Franz, who is no longer there, worked for Larry and helped me establish a Golden IRA account with a silver coin purchase. All the news was bad then, and their advice was to keep renting, buy gold & sliver, and stay out of the market. Unfortunately, I listened and missed one of the biggest Market & Housing booms of the 90′s here in Colorado. I was considering going back to them for my 3rd IRA investment in Gold, but will now forgo that, due to the warnings above.
    I’ll probably go with Blanchard.

  76. phyllis says:

    I ordered gold from larry bates after reading his book. This was in January 2010. I have not received very much of the order. I have called and called the colorado office and his rep says he has to get in touch with larry bates first and see when we will receive it. I will notify an attorney if I do not receive it within the next couple of months.

  77. Concerned Christian says:

    Larry Bates appeared on CTN (Christian Television Network), last night. He talked about the economic meltdown while promoting his new book. Embarrassed to say that I thought the information was interesting and decided to look him up … maybe even buy his book. Searching him out, I stumbled upon this website. All I can say is I’m shocked! I can’t believe this man is no different than any other crook out there. Worse yet, he hides behind God while hurting others. I know what it feels like to be scammed because I lost the majority of my savings in a ponzi scheme in 2006. The FBI is now handling my case. The sad part is that it’s difficult for me to trust anyone.

    Now,I find out Larry Bates, although very personable and seemingly knowledgeable is nothing more than a wolf in sheep’s clothing. If he has cheated these people out of their money, why hasn’t he been reported to the SEC or the FBI? In light of the Madoff scam, I know the FBI is cracking down on these crooks.

    Everyone who has been cheated by this man should contact the FBI. It’s one thing to lose your money in a bad investment but if you’re awaiting metals that you purchased and have not received, that is fraud. The worst part of this whole thing is that he is still working his charms on unsuspecting and trusting people. I would never have known about him if I hadn’t Googled him. Imagine all the people who won’t bother to investigate this man.

    Please contact CTN station and voice your concerns that this man has been allowed to promote his book when he is a cheat and a liar. Help to protect others from being deceived. Isn’t that we should do for each other? Help one another? I will be contacting CTN (Christian Television Network) today. And I may write to every Christian television network and warn them about this man. They could be held partly responsible for giving this man a platform to peddle his lies and cheat people.

  78. FmrFAMCconsult says:

    As a former FAMC consultant, I read all these horror stories about “Doctor” Norman – er – Larry Bates and I just shake my head. He was using the same MO in the late 80s when FAMC was just 2 yrs old. He ripped off two of my clients, both of whom were close family friends of mine. I went with one client to the FBI, gave all the facts and explained I was willing to testify or sign an statement or anything to help with an investigation, however the FBI told us that since the amount was “only” $ 40,000 they put very little priorty on it. The other client had a much larger amount involved. Sadly this gentleman died while we were trying to get the refund and Bates took advantage of the various delays,probate etc. In the meantime, on the first case, the FBI advised us to contact the Colorado BI, but again very little interest was shown. We ended up filing a civil suit and eventually Bates refunded the money, but of course the client was out about $ 12K in attorney fees.
    Bates is a total fraud, an accomplished, polished liar. He lied to me about the health insurance which was supposed to be part of my compensation. He lied to my clients. I would listen to him in his “seminars”. I really think he is unaware just how much he lies.
    Bates and I almost ended up in a fist fight in his office in front of other staff members (2 later contacted me to tell me they had also quit). He is a 32 degree Mason which I believe is one reason the FBI and CBI are reticent to take any action, since so many high ranking FBI officers are also Masons and they have a secret oath not to press legal matters on fellow Masons. In fact, while in his employ, Bates tried to talk me into becoming a Mason. Since leaving Bates I have done extensive research on this Satanic group and I am now convinced Bates is totally deceived.

  79. FmrFAMCconsult says:

    Sorry – I meant to say “32 degree Mason” – he wore his ring with pride.

  80. sandie says:

    Wow! Thank God I stumbled onto this site. My husband and I are retired and planned to attend his seminar. Now we won’t be wasting our time and certainly not be swindled out of our money. It is so heartbreaking to know this transformed “angel of light” is such a master of deception that even his former employees are speaking out against him and warning people. But… the Bible says when Jesus was speaking to the Pharisees, “You are children of the devil, and will do as he does” God help Mr. Bates if even a portion of this is true. I have personally seen people who misuse their authority get stomped so hard their loss is by no means worth their sin of graft and deception. May GOD have HIS protective and loving hand on those who have been deceived and lost their investment finances. In Jesus mighty name may HE go forth and stomp and kill evil perpetrated on GOD’s people!!!

  81. I Know says:

    It’s all true. I always wished he would get caught, but wasn’t sure enough that something illegal was going on. He knows how to hide, or put the blame onto others, and he isn’t afraid of attorneys or the authorities. Is this an FBI issue? From my experience with him, I noticed he was being invited less and less to do television shows. He has to pay for his infomercials now, rather than the free advertising on Christian television. He truly isn’t all bad, but he is a very difficult persont to deal with… I wouldn’t recommend any of my friends or relatives order any merchandise from FAMC – ever.

  82. [...] Readers of Unreported World News were the first in the world to hear about the seamy – and un-Christian – underside of Larry Bates’ financial empire and precious-metal dealings. Now, the local CBS TV station in Memphis, Bates’ hometown, has taken our lead and aired its own expose of this wolf in sheep’s clothing. Read our first Bates story here. [...]

  83. Elena says:

    Anne, can you recommend a good company from which to buy gold in the form that cannot be convisgated by the Gov’t? Is Gold Line a good company? Any others you can recommend? Thank you and God bless you.

  84. Elena says:

    Is Monex a good company from which to buy non-confiscatable gold? Thank you.

  85. Truth Teller says:

    TruthTeller repeats from August 11, 2010 at 9:44 pm

    IRN/USA Radio news?

    The mantra of the repro-Bates family, i.e. Dr. (Apparently honorary since it is nowhere to be found) Larry Bates and his son, Chuck Bates have quite the background in the field of broadcast news. (NOT)

    Dr. Larry Bates is a veteran newsman, (sic) an economist [PhD in Agricultural Economics supposedly) and best-selling author. (Says who – Larry says!).

    A former Legislator in the Blanton era in Tennessee back in the 1970′s and Bank CEO, Dr. Bates is a (nationally recognized) authority on geopolitical systems, the economy and their impact on people’s lives. (OK here we go)

    Chuck Bates, also an economist,(not really – He just knows how to sell gold and silver)(No degree that is known of, except he IS a Bible school graduate). Chuck is Executive Vice President and News Director for IRN/USA Radio News. (And got his start in broadcasting working for dad, and has never done a news shift.) He previously served as an assistant in the office of Political Affairs in the White House. (Dad got him the job when he was in Tennessee politics.)

    Great source of info here:


    When did he become a Doctor/PhD?

    Is it an honorary degree? Nothing shows up in any search, anywhere.

    Larry Bates Bio

    Bates, Larry (D)
    (believed to be a old former address – Glenwood Drive, Martin, Tenn.)Representing House District 77. Born August 18, 1944. Married; Baptist; Pres., Bates Insurance Agency; Chairman of the Board and Chief Executive Officer Reelfoot Bank; Union City; B.S. University of Tennessee at Martin; Pres. Student Body UTM, two yrs., Pres. UT General Alumni Assoc.; Masonic Lodge, Scottish Rite, Al Chymia Temple, Alpha Gama Rho Fraternity, Kiwanis, Tenn. Banker’s Assoc.. Tenn. Nat’l Assoc. of Life U-w, American Banker’s Assoc., Who’s Who in America; Who’s Who in the South; Outstanding Young Men of America; Who’s Who in American Colleges and Universities; Who’s Who in Community Service. Member 87th, 88th and 89th General Assemblies

    Source: Tennessee Blue Book
    By Tennessee Dept. of State
    Published by Secretary of State, 1890
    Item notes: 1975-76
    Original from the University of California
    Digitized Apr 2, 2007

    The ads are calls PI’s. (That’s a percentage for product sales) i.e., no pay IF no sale) and low rates for those commercials. And those MLM products are for the Bates coffers, from Colloidal Silver, Stem Cell pills, health and nutritional products etc., that give then quite a hefty cash flow.

    Then there are the books and tapes that sell for a hefty fee, the Economic newsletter presenting convincing information that the call to action is to call the toll free number of FAMC, First American Monetary Consultants, Inc., (the primary arm of the economic and political consulting and newsletter, with editorial & corporate headquarters in Fort Collins, Colo., and additional offices in Columbia, Mo., and El Paso, Texas,

    FAMC also has a publishing division, which distributes its Monetary & Economic Review and sells educational books, tapes, DVDs and CDs.

    BUT the FAMC side of the organization, devoid of Securities and Exchange Commission and Federal Communications Commission regulation because it is a satellite delivered service, advising those who want to protect themselves from “Economic Disorder and the massive transfer of wealth” to buy GOLD, Silver and coins that will “only go up in value’ as a hedge against the coming wipeout of the dollar.

    Some hefty sums have come in as buyers are told of 30-45 day delivery dates that have been known to drag out.

    The news is just a vehicle to sell the books, tapes and financial services and service the network for the lecture and seminars coming to a city near you. The $500,000 satellite GPS full blown IRN mobile newsroom is Larry Bates personal luxury hotel on wheel as he travels the south and western parts of the US on his lecture circuit.

    The news is pre-recorded and played hourly from a computer and an alleged “un-spun” to the degree of the anchor on duty and also depends on the “non-rip and read” take on what is really happening and not what the liberal media is dishing out. At least that is the mission statement!

    With limited news sources, bare bones staff and time restrictions, news research is non-existent; the wires are limited via Associated Press and Metro Networks. The job is a ‘get ‘er done’ on time thing!

    When the family of the late founder of the USA Radio network was drowning in red ink they approached the Bates family and decided to merge. IRN absorbed the 2000+ stations who took the USA Radio newscasts and since yes some are religious, many more are not; the content is just mainstream simple basic news as seen through the eyes of the reporter on duty.

    Just listening long enough with reveal how the content can change depending on who is on duty. No on duty editor or news director or assistant news director is on duty at an assignment desk monitoring for consistency and continuity.

    News & Views is a live two-hour, issues-oriented and caller-intensive daily radio news magazine delivered from an economist’s point of view. (That says it all – Delivered from an economist’s point of view.

    Larry’s point of view!

    • unreportedworldnews says:

      Could you please summarize your comments so I can post them. I greatly appreciate all you say, but it’s too long. I’ll look forward to getting it. God bless you.

  86. Jill Isken says:

    I am one whom you all recently saved from making the terrible mistake of buying from the Bates family. I was supposed to send in my money on Tuesday. Well, Wednesday came, then Thursday and Friday and I still did not feel good about it somehow. I had prayed to show me if this was some kind of a scam as I was leary sending money out of state. I was about to wire the money to Bates Friday afternoon when I happened to find your comments about all you have been through. Boy did I get away from my plans fast. I want to thank all of you for taking the time to help other Christians from falling into the same pit. I can’t thank you enough. I’m praying for your fast recovery. I found out on the internet that all the hoopla about certain gold NOT being confiscated is bogus. Gold is not registered at this time and only if your agent sends in certain forms to the government will they ever know about it as well as buying anything else. It only takes a few days to get your gold and a week to receive the silver. Pls serf internet on this matter. Merchants are getting alot of money for old coins using this ploy. Thankyou, Thankyou, Thankyou and Thankyou. Your sacrifice really helps others and may God reward you for this.

  87. Sharon L Lamicella says:

    I too have seen Larry Bates speak on Jonathan Berris talk show and I purchased Gold & Silver matals that have never been shipped. I can never get his son Bob Bates to return my calls and the operators will not give me any information. They just keep sending me to Bob Bates voice mail. I have sent letters and fax’s to the memphis and Colins offices with no response. I am from Toms River, NJ. I don’t know what to do. Will the metals eventually be shipped?

  88. Kim says:

    I am glad that I found this site too. I have seen Dr. Larry Bates at least four times in the past 15 years. I believe what he is saying… however we have bought our gold and silver locally… not from his company. The messenger may be a mess but perhaps the message is still good. Thoughts?

    • unreportedworldnews says:

      I posted some recent comments that will answer your question. Remember deception is deceptive, Matthew 24:4,24. Sadly the message is true, but in my opinion, I would not call him a messenger from God. Hope that helps. God bless you, Anne

  89. Sharon L Lamicella says:


  90. Rob Smith says:

    I tried numerous times to get Bates to set up an appointment to purchase a large amount of coins. Luckily, he never returned my messages and I never had to experience the problems that this website discusses.

  91. current client says:

    Made my purchases back in 01-02 and still awaiting delivery!! What to do?? Where do I turn? There’s a lot of money involved here!! Can I talk to someone? I’ve got documentation. Just came upon this excellent expose, and have felt something was rotten here for quite awhile. Do I get the award for having the oldest back orders??

  92. Pamela McCall says:

    My husband and I saw Dr. Bates in Birmingham. We had seen him on several Christian TV show’s . His advise on the real estate market was spot on. I had been buying gold in very small quantities through the years. My Husband talked to “Bear” at FAMC. Bear suggested we purchase a specific coinage and
    gave us a price of $10,500.00. My husband placed a tentative order, without paying, he wanted to discuss it with me first. I had been pricing on line and when I found out what FMAC was charging I thought it was too high. I then called a company I had done business with before and gave them the exact order we had discussed with Bear.$2,500.00 less than FAMC.
    I decided then I would never order from them. I am so grateful I had been looking on the internet, and that the red flags went up. Larry’s gold and silver has no more value than any other company

  93. Michael says:

    Hi, I have been waiting for 11 months for 16,000 in silver coins from FAMC. What do you recommend I do to get my orders. I had cashed in my IRA for this. thanks for informing us. Michael

  94. I Know says:

    Glad to hear people are still reading this information, and the story hasn’t died out. Nothing appears on the local Memphis television station any longer, and I’m hoping they haven’t dropped the investigation. Since I have left the “employment” of Bates, I do not have the same insider information I heard daily when on staff. Please do not let this investigation stop. Everything said here is true. I’m not sure Mr. Bates realizes what he is doing… He always seemed “surprised” when I told him about calls and complaints. And, he acted like it was the clients fault, or mine or anyone but himself! And, his sons are no better – he has trained them to be just like he is. Apparently the infomercials weren’t big sellers this time, and his conferences last fall were not well attended – he was giving away tickets! Perhaps the news is getting out. That won’t hurt him much though because he has a stash of money that won’t quit.

  95. Stephen says:

    I too have dealt with Larry Bates. I placed a sizable order ($60 K) and like everyone else I waited. I did get the coins eventually, but they were slow to arrive. It took approx. 60 days. Also, I looked around and could NOT find those same coins any cheaper elsewhere. I don’t think Larry is dishonest and I will state that he is in my opinion most certainly a believer. I do suspect that he might be engaged in what is known in the business as the “float.” That is where the payments from new clients are used to fill the orders from earlier clients. There are lots of reasons this is done: A bad economy, a slow down in business, etc. I think Larry is just plain behind in business. He is spending too much on his lifestyle. I think he needs to be trying to generate more cash and equity. I believe he is attempting to work his way out of it. I also think everyone will get their metals–so long as he remains in business. If you manage to shut the doors at FAMC–most of you will get nothing. That is the reality.

  96. debbie gibson says:

    I have been waiting since 10/09!!! for my silver part of my order. I have called no less than 30 times with assurance from rep that is it coming. When I called today, they said there is no one to talk to but the rep, no supv. to complain to etc. I am a christian and have a business and am ashamed of this man after reading your site. Is there any way to stop them from doing business?

  97. Leon says:

    It is April 1, 2011. On this date I finalized by fax, phone, and email all arrangements to open Roth IRA accounts for my wife and myself with an agent of FAMC at the Memphis office. I sealed up the envelope containing all the necesary forms and a check for $225 to cover the opening fees of my account (my wife’s was supposed to be free as it involved a transfer of more than $25,000 from an existing Roth), put first class postage on the envelope. Then I thought “I need to fix in my mind what the letters FAMC stand for.” I put those letters into Google and finally found a number of articles which also included the above article which is only about 20 days old. I then called my wife and read a bit of it to her. We both felt that God had saved us from a very serious mistake. Thank God He permitted us to find out the truth before actually committing our funds. Stockton, CA

    • Marms says:

      I just wish more people would find out before purchasing. He has gotten away with this for years and years, and will continue to do so. Somehow, he doesn’t get caught – in this life. But God knows, and we have to trust that He will deal with Larry Bates in His own way. Bates can quote a lot of scripture, but never goes to church and certainly doesn’t conduct business like a Christian. He has a lot of people fooled…

  98. Margaret says:

    It took us 3 years and many phone calls, emails and threats for Larry to resolve our outstanding orders. Nobody but “Larry” could help us. What a poor way to run a business.
    Additionally, I simply could not believe that Larry would continute to promote that PowerPlus fuel additive that he knew did not work. Christians do not sell products that have been proven to not work. I am so disappointed in Larry, in FAMC, both of whom I held in high esteem because I believed them to be Christians. Has Larry actually professed to be a christian or is that just a marketing ploy and I believed it because he’s on christian radio? This entire situation makes me very sad.

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