Dubious full-page ad
Tucked into the front section of Tuesday’s News and Observer was an advertisement that disturbed me. Paid for by some outfit known as the World Reserve Monetary Exchange Inc., the ad ran full-size and was made to look like an actual news story, claiming Raleigh residents could get some sort of deal on sheets of two-dollar bills. It included a color photograph portraying serious-looking “guards” and used a newspaper-like typeface. Only a tiny, one-line disclaimer at the top of the page gave it away as a paid advertisement.
Barely legal
The supposed investment is of course non-existent, as anyone can order sheets of two-dollar bills straight from the U.S. Treasury. Apple co-founder Steve Wozniak, a well-known prankster, has long enjoyed baffling people with sheets of $2 bills (including, apparently, Secret Service agents).
As for the World Reserve Monetary Exchange, it has wracked up numerous complaints on its questionable business practices. It took me five minutes to find several of these complaints. Why couldn’t the News and Observer’s advertising department do the same? Who at the N&O could’ve possibly signed off on this?
I don’t fault the newspaper for trying to make a buck. Things are tough all over, after all. Still, I can’t help but think the paper crosses a line when runs such an ethically-questionable ad: one that preys on the newspaper’s readers who can least afford to be swindled. What about the elderly readers who might be duped into losing their retirement money, unaware that the ad is not a legitimate news story? Or the poor readers who throw away what little money they may have in the belief this scam is their ticket out of poverty? It would arguably be better if the N&O ran ads for 900-numbers, with scantily-clad models on its pages. At least readers would have a better idea of what they’re getting.
I keep hearing that the N&O’s financial results are improving and it’s business is on the rebound, but it’s obviously not healthy enough to say no to scam artists hoping to trade on the N&O’s authority in order to dupe its readership. Shameful.