I have written about Gold several times in this blog.  Today, gold broke briefly to a new high of $1260 before setteling back to the $1250 range. Most investment advisers who follow gold are predicting $1300 to $1350 within  a matter of weeks.

OF course gold can go down as well as up, but the fundementals have never been this positive for gold since just after 9/11. Personally I am using any pullback to add to my positions.

Gold’s rise has been driven by several factors:

• Sovereign debt crisis in Europe and a belief that it will eventually hit our shores.
• Countries such as India, China and Canada buying gold on the open market to increase their reserves. (For example: Earlier This week, the Central Gold Trust of Canada announced it is going to buy $800 million worth of gold).
• Personal gold hording in developing countries
• Purchase of gold by Exchange Traded Funds
• Mining costs are rising. All of the easy gold has been found and miners have to dig deeper and use more expensive extraction methods. Current gold supply is barely meeting demand. If gold buying continues, demand will soon exceed supply.

I have pointed out several times in this blog that I am not a professional investment adviser and you should do your own research, but I am loading up on gold mining stocks (NGD and ASA are my favorites) and Gold ETFs such as GLD and SGOL.

Til next time,

Skip McGrath
Head Geezer

Make extra money with The Official Geezer Guide to Making Money
with an Online Business

I always hesitate to write about anything political. Whenever I do, it seems to offend someone, and that is the last thing I want to do.  But I was listening to the President’s speech on the oil spill crisis last night and came out of my seat when the president told a real whopper.  The comment that startled me with its audacity was this:

“We consume more than 20% of the world’s oil, but have less than 2% of the world’s oil reserve. And that’s part of the reason oil companies are drilling a mile beneath the surface of the ocean — because we’re running out of places to drill on land and in shallow water.”

That statement is patently false!  I don’t know if was ignorance on his part. To give him the benefit of the doubt, his advisers may have told him that and he believed them and wrote it into his speech.

But here are the facts and they are easily checked:

The US is sitting on enough oil reserves to run this country for another 200 to 300 years without importing another drop of oil. Consider some of these easily proven statistics:

• An April 2008 study conducted by the United States Geological Survey, stated that “North Dakota and Montana have an estimated 3.0 to 4.3 billion barrels of undiscovered, technically recoverable oil in an area known as the Bakken Formation.”
• The US Geologic survey estimates there are over 4 Billion barrels of easily recoverable oil in protected areas in Utah, Colorado and Wyoming that are now banned from drilling.
• There is a pool of oil in shallow water off the coast of Santa Barbara, CA where oil is so plentiful, it seeps from the ocean floor and ends up on the beaches as tar balls. If drilling were permitted, the pressure would be relieved and the seepage would stop.
• The ANWR range in Alaska has only been 20% explored. Already estimates are that the range contains over 10 Billion barrels of oil and if the rest of the region could be explored, that could only be a partial figure.
• There is oil in several locations in the Bering Sea at depths of less than 500 feet. The field near the end of the Aleutian chain is estimated to contain over 500 million barrels at depths of less than 600 feet.
• There is plenty of oil in the Gulf of Mexico located in shallow waters that have been put off limits for drilling which is why we are drilling in deep waters. The US Coast & Geodetic survey list several proven fields off of the East coast of Florida and Georgia. But these are  also off limits to drilling.
• The outer continental shelf: Something in the neighborhood of 90 billion barrels of oil sit beneath the ocean bed 50 to 100 miles off the Atlantic, Pacific and Gulf coasts. Some of these are in very deep waters, but many of the proven fields are in waters less than 1000 feet deep.
• A well researched article in Kiplinger Magazine in 2008 stated: “… untapped reserves are estimated at about 2.3 trillion barrels, nearly three times more than the reserves held by Organization of Petroleum Exporting Counties (OPEC) and sufficient to meet 300 years of demand-at today’s levels-for auto, aircraft, heating and industrial fuel, without importing a single barrel of oil.”

Of course this oil spill is a disaster. It will do billions of dollars of damage to lives and property and the environment.  But the real tragedy is that it didn’t have to happen.  Drilling in deep waters is inherently risky.  I spoke to an oil drilling expert from Transocean and he told me that if this spill had occurred in water less than 1000 feet deep, that there are several technical methods that would work to cap the spill within days –not weeks, that won’t work at the 5000′ depth of this well.

I find it ironic that the worst oil spill in American history was caused by the very same environmentalists who have cordoned off all the easy accessible oil and forced us into taking extreme risks of drilling at depths.

Reading this you might think I am against alternative forms of energy –and you would be wrong. I would love to see electric cars. They make perfect sense. But if even 10% of the current automobiles in service were converted to electricity we would need somewhere between 15 and 20 new power plants. The fastest and cleanest way to do that is with nuclear power, but the environmentalists do every thing they can to delay and block nuclear power construction.

Wind works.  There are already producing wind farms in California where the environmental lobbies will not allow construction of power lines to get the power to the grid.  They have blocked this construction for the past 3 years.

Solar is great but will never provide a serious amount of electricity.  You would have to cover an area the size of the entire state of Nevada just to produce enough solar electricity to run a medium-sized American city.

Natural Gas – The US is the Saudi Arabia of natural gas and we have reserves off of the East coast of the US that could triple the amount of known natural gas reserves.  Cars and even the big diesel trucks can be easily modified to run on natural gas.  If we were to convert the entire American trucking fleet to natural gas, it would reduce our current oil imports by over 1 million barrels a day. And gas is cleaner and cheaper than oil.

Conservation is the other important priority. Some people laugh at efforts by the government to build more efficient cars, install insulation and energy saving bulbs, but these measures can have dramatic effects on our overall energy consumption.  But we don’ t need government edicts to force them. They make sense because energy costs are rising and will continue to rise and people will turn to energy-saving methods to save money.  When we liven it New York State back in the 1980s we had an older home that was costing us over $800 a month to heat in the winter.  We spent $4000 on new windows and insulation and dropped our energy bill to less than $300 a month in the winter. Rather than forcing people to take these steps, I have long favored tax credits.  Just this year I installed an instant-heat hot water heater at a cost of $1600, but got back $700 of that in tax credits and utility company rebates.  That is the sort of program that makes sense.

Its correct to blame BP for the spill. But its not correct to criticize them for drilling 40 miles off the coast in mile-deep water. That is the fault of the stranglehold that environmentalists have held on politicians and their resulting energy policies in this country since the Carter administration when all of this started.

It’s high time we got sensible about our energy policy. A good energy policy would use all of our resources and develop alternative energy sources.  If we turn science loose, who knows what we can develop.  China is already working on miniature nuclear power plants to power trains. Why aren’t we doing this.  I once read an article in popular science that said we could even power trucks with tiny nuclear power plants and fuel cell technology is still in its infancy.  Us geezers may not live to see it, but we own it to our children and grand children to work on an energy policy that first of all provides for our national security and is economically sound.  Its just crazy to send $100 million a day to Saudi Arabia and Venezuela when we have plenty of oil sitting right here in our laps.

I came across an article about seniors starting their own businesses and decided to Google around and see if I could find more stories.  Amazingly there are dozens of newspaper stories out there about what is going on in the Senior community and about Geezers like us starting businesses.  I got some great ideas from reading about what others had done and thought you might too.

So here is my list of just the best ones:

Older Americans Starting Their Own Businesses

More Seniors Starting their own business

Starting Over at 55

Should We Worry About Older Entrepreneurs

More Seniors Choosing Self Employment

So what are you waiting for. After you read these articles,  come back to the Official Geezer Guide for help starting your own online business.

A lot of our readers have been ready to downsize or sell their home to move to a better retirement area. They want to sell their homes but think they can’t.  As bad as things look they are much better today than a year ago.

Home builders have not been building homes so the supply of new homes is around 250,000 the lowest it has been since the early 1970s.  And the supply of resale homes is now about 3.5 million –quite high, but a million less than this time a year ago.

Homes are selling. They are not selling as fast and the prices are low –but they are selling.  So here are some tips for selling your home in a tough market.

1. Be reasonable with your price. This is a buyers market. A lot of people let their ego get in the way when setting the sales price. I know your home was worth $375,000 three or four years ago. It really hurts to put it on the market at $275,000 but that may be what it takes.  Its not so bad though because the home you are going to buy to replace this one is also 30% lower. So when you move you are still trading equal value for equal value.
2. Work with an experienced local agent. Stick with someone who has been selling homes in your community for several years. When I sold my last home I called three real estate agencies and asked them the name of their top salesperson. From that list of three I picked the one with the most experience and local knowledge.
3. Do all the stuff anyone should do when selling a home. Fix up and paint, clear out closets and garages, spruce up the yard and make sure you have good curb appeal.  All of those things really matter. Spending $2000 on improvements in this market could add $5000 to your sales price and reduce your time on market.
4. Get rid of your sentimental mindset.  We all have a lot of memories wrapped up in our homes. But this is a business transaction and you need to approach it as such.  If you price your home too high it may sit on the market a long time –and there is nothing that will reduce your value faster than being on the market too long.
5. Be prepared to bargain. When I sell a home, I price it about ten percent over the market valuation but then I tell the Realtor to put the word out that I am a motivated seller. People always make a lower offer than your asking price so you need some room to move. If they think they can get the house for $20,000 less than the asking price they think they have the bargain.
6. Don’t spend your money or commit to a new house until this one closes. In the old days about 5% of all home deals fell through. Today it is more like 20%.

Now is actually not a bad time to sell if you want to downsize or move to a different area to retire.  The retirement destinations like Arizona, Florida, Southern California and Las Vegas were all hit harder than the rest of the country. Housing prices in those locals fell far more than in the rest of the country, so you will probably be able to actually trade up in dollar-for-dollar value if you shop carefully.

Here is another great article reprinted with permission from Money & Markets Dividend Superstars editor Nilus Mattive.

Your Choices for Keep-Safe Cash

Every time Easter approaches, I find myself thinking of baskets, eggs and all the other words we investors typically associate with portfolios and diversification.

So I was certainly ready with plenty of holiday-themed metaphors when a friend e-mailed me to say he’d sold his house and wanted advice on what to do with the proceeds.

Of course, the first thing I told him might surprise you: I didn’t say to invest in dividend stocks. Rather, I said his primary goal should be establishing a nice liquid emergency fund.

That begs a good question, of course …

Where the Heck Can You Put Your Keep-Safe Cash These Days?

It’s no secret that interest rates are pitiful. And as I told my friend, you shouldn’t expect much of a return on your emergency funds. Instead, your main goal is having peace of mind and the wherewithal to survive life’s twists and turns.

For that reason, this account should be considered separate from the uninvested cash in a brokerage account. (That money is best left in a money market fund, either Treasury-only or otherwise at this point.)

Certificates of Deposit (CDs) are clearly the old standby, favored by retirees and conservative investors across the country. That’s because they are readily available and generally very safe — until January 1, 2014 your deposits are insured up to $250,000 at each financial institution ($100,000 thereafter).

The two big problems are: Penalties for early withdrawals and paltry rates right now.

In my opinion, the penalties are enough of a reason to look elsewhere for a liquid savings vehicle. But if you think there’s only a slim chance you’ll need the cash over the life of the CD, they might be okay.

If so, you can find the best current CD rates by using a website like www.bankrate.com. Depending on the term and how much you invest, you should be able to get 3 percent or more. Not bad, but remember that the longer you lock your money up, the greater the chance that interest rates will rise and inflation will outpace your return.

Personally, I would trade higher yields for a greater emphasis on shorter maturities right now.

The first and most important part of any nest egg, is a solid chunk of cash.

Traditional savings and checking accounts are another option. They clearly offer the liquidity you want in an emergency account, but your local bank is probably offering a very poor rate of return right now.

So my suggestion is to start looking nationally using websites like www.checkingfinder.com and www.money-rates.com. A number of financial institutions are working hard to attract new capital at very favorable rates with high-yield savings accounts and so-called “reward” checking accounts.

Many of the best current rates are now coming from online-only banks (often subsidiaries of household-name brick and mortar franchises). Examples include OnBank (a division of M&T Bank in NY), FNBO Direct (First National Bank of Omaha) and Ally (formerly known as GMAC Bank).

It’s worth noting that these accounts often carry a litany of restrictions and requirements such as receiving statements electronically, making regular direct deposits, using debit cards for purchases, etc. Moreover, many of the attractive rates are only applicable on a certain level of deposits (often $25,000).

Still, if you’re willing to play the game … and even spread your money around at a few institutions … you can certainly earn a much higher return than you might believe possible.

What about bonds? For liquid savings, they would be my least preferred choice because you will not have FDIC insurance and CAN experience capital losses. And I would absolutely insist that you stick only to very short-term bond mutual funds and ETFs.

That said, there are relatively conservative funds that are paying out a percent or two in annual interest.

For example, in Treasuries, the iShares Barclays 1-3 Year Treasury Bond ETF (SHY) yields 1.1 percent and carries an expense ratio of 0.15 percent. Meanwhile, Vanguard’s Short-Term Investment Grade fund (VFSTX), which invests in high-quality corporate bonds, currently yields about 2.3 percent. You can find comparable investments from plenty of other low-cost fund families, too.

Again, I’m not saying that a yield of 1 percent or 2 percent is much to get excited about. And for the bulk of your investments, especially your retirement funds, I have many ideas that will produce double, triple, and quadruple those numbers.

However, we should all recognize the importance of an ultra-safe, ultra-liquid emergency fund … that is kept in an entirely different basket.

Best wishes,

Nilus

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This investment news is brought to you by Money and Markets. Money and Markets is a free daily investment newsletter from Martin D. Weiss and Weiss Research analysts offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. Dr. Weiss is a leader in the fields of investing, interest rates, financial safety and economic forecasting. To view archives or subscribe, visit www.moneyandmarkets.com.

I was doing some investment research recently looking for good low-priced stocks that would make a long-term investment.  I really like small company stocks, as they have the potential for explosive gains.  Sure I have IBM and Exxon in my long-term retirement portfolio and they have the potential to grow, 5, 10 or even 15% per year.  But small companies can explode where they gain 100% per year –or even in a few months.  Yes – the risk is higher, but that’s why I keep them to a very small percentage of my portfolio.

I first heard about NXT Nutritionals (symbol: NXTH) from A Charles Payne newsletter. NXT Nutritionals makes a product called SUSTA in the sweetener market to compete with products like Sweet & Low and Splenda, my current favorite sweetener until I found SUSTA.

As part of my research I decided to buy the product and try it.  Its not yet sold here on the West Coast, so I ordered it from their web site.  Wow –I was hooked within a couple of days. It tastes better than Splenda and its much better for you. Originally designed as a sweetener for diabetics, it has crossed over into the consumer market.  This is a cutting-edge, natural sweetening system that is starting to capture a significant share of the alternative sweetener market.

Here is a link to the SUSTA website where you can read all the product details.

Not only does SUSTA sweeten the taste of food without the side effects of sugar or chemicals, it also contains healthy probiotics; vital dietary fiber; antioxidants and key cellular nutrients that can lead to increased metabolism.  SUSTA simultaneously supports the health of the bones, heart and immune system. This is a great product for all of us Geezers who need to watch their weight or blood sugar.

SUSTA is currently being sold as a stand-alone sweetener in a 50-packet box and as a yogurt smoothie under the Healthy Dairy brand name. I can’t get these here in the West, but I was back East a few weeks ago and found them in a Kroger store. I am not a huge yogurt fan, but these were really great tasting and seemed to give me a slight energy lift.

SUSTA also announced the launch of a baking version of the sweetener called SUSTA Bowl. That product is currently available for pre-order on their e-commerce site, www.sustastore.com. The company says that pre-orders have been coming in robustly. They hope to have the product packaging ready soon for retail distribution.

The 50-packet boxes of SUSTA are now available in more than 1,900 supermarkets in the Northeast region, Kroger markets in Columbus, OH and Albertson’s Stores in Texas, Arizona and Florida. In New York City, we recently added such premier chains as Gristedes and D’Agostinos.

So if you are a diabetic or just like to use sweeteners instead of sugar, give SUSTA a try.  I think you will love the product.

I don’t recommend specific stocks to others, but if you like to invest in small company stocks, take a look at NXTH –but do your own research. The stock recently fell due to the company issuing more stock to raise capital for expansion and is now selling for around $0.70.  That means you can buy 100 shares for around $70.00.

Small stocks like this are thinly traded and they can really bounce around. It has already swung twice as high as $3.00.  My sell point is $5.00 and I am willing to hold it for a couple of years for a gain like that, so if you do decide to invest, take the long term view so you don’t get whipsawed.

Full Disclosure:  I did decide to invest in NXTH so I own the stock.

I just finished a great new book: How To Sell Coupons on eBay and Really Make Money.  I bought the book because selling coupons is one of the great niches I talk about in my book, Ten Little Known, Highly Profitable eBay Niche Markets.  Basically I wanted to see if I had missed any techniques. It turns out that I hadn’t, but the author of this book, goes into quite a bit more detail.

How To Sell Coupons on eBay and Really Make Money

Here is a banner to the book on Amazon –or you can probably order it from your local bookstore.

It is a short –but excellent read. This guide will teach you step-by-step how to sell coupons and earn $500 or more a week in your spare time. With today’s rocky economy and unsteady job market, there’s never been a better time for you to earn extra cash on the world’s number one auction website!

If you would like to learn about more interesting and easy to enter profitable niches on eBay, get a copy of my book Ten Little Known, Highly Profitable eBay Niche Markets. We just finished the update for 2010.

IM Report Card

I was recently introduced to the Internet Marketing Report Card (IM Report card).  This is a wonderful free site where you can check out the reputation of any product, service or person related to making money on the internet.

I had no idea that I was reviewed there until one of my radio listeners (www.wsradio.com/skipmcgrath – 10 am every Wednesday) emailed me that I was ranked 3rd in the country out of the top 25 internet marketers. You can read my review at the Skip McGrath Page on IM Report Card.

So take a look at Internet Marketing Report Card. Sign up for a free account (it only takes a minute) and post a comment. If you like any of my books you can write about them. I would love to hear your unbiased comments.

The other thing that is really neat about IM Report Card is that you can actually make money every time you  rate someone or post a comment –or even when you recommend someone.  You won’t get rich, but there are a few active folks who make an extra $50 to$100 a month or so for just a few minutes work each day.  And you are also doing people a service when you warn them away from bad promoters or crappy internet products.

This is a guest article by Martin D. Weiss, PhD, publisher of Money and Markets

UP to 200 Banks Could Fail in 2010

Washington has so thoroughly botched its supervision of the banking industry that 200 banks are likely to fail this year — easily surpassing last year’s 140 bank failures … inevitably involving the greatest bank losses in history … and already costing the FDIC ten times more than the great S&L and banking crisis of the 1980s did.

I am not basing these conclusions on conjecture. They come straight from official sources. Specifically …

In her testimony before the Financial Crisis Inquiry Commission on Thursday, FDIC Chairman Blair attacked the Fed under Greenspan for causing the housing bubble and subsequent debt crisis with its highly stimulative, low interest rate policy of the 2000s.

She slammed virtually all of Washington for allowing banks to establish a huge, high-risk “shadow banking system.”

And she made it abundantly clear that, without sweeping, far-reaching reforms, we risk another devastating debt crisis.

Each of her conclusions is abundantly obvious and thoroughly documented. What she did not mention, however, are the following equally obvious facts:

Obvious fact #1. The Fed under Bernanke is now pursuing an even more stimulative, lower interest rate policy than it did under Greenspan, threatening to create even larger bubbles and more devastating busts …

Obvious fact #2. In just the last two years, between bank bailouts and easy money, Washington has done more to encourage the growth of the shadow banking system than in all previous years combined, and …

Obvious fact #3. Despite all the talk and testimony, the nation’s powerful banking lobby virtually guarantees that, in the absence of another Wall Street meltdown, the chance of sweeping reforms is virtually nil.

So here’s America’s financial dilemma in a nutshell:

Without sweeping reforms, the nation is doomed to repeat history with another debt disaster. But without another debt disaster, the nation’s political will for sweeping reforms is dead or dying.

In the meantime, the aftershocks of the 2008 debt crisis are getting worse, as the latest news clearly illustrates …

171 actual total failures: In addition to the 140 banks and S&Ls that failed in 2009, 31 credit unions went under, bringing the total tally to 171.

Worse than the 1980s: If you’re among those who think today’s banking crisis isn’t nearly as bad as the great S&L and banking crisis of the 1980s, think again. The average bank failing today is six times larger than it was back then, producing far greater losses. Moreover, each bank failure is costing the FDIC about TEN times more than it did in the 1980s crisis, according to the Meridian Group of Seattle. As a result …

Worst FDIC losses of all time: The FDIC lost more money in bank failures ($36 billion) than it lost in the ENTIRE five-year banking crisis from 1987 through 1992 ($29.6 billion). And in 2010, with the number of failures likely to increase, the losses will be even larger.

Big banks still losing billions with consumers: Until last week, the consensus opinion on Wall Street was that the troubles at the BIG banks were over; that to close this chapter in history, the only task remaining was a mop-up operation at smaller regional and community banks around the country.

That theory was shattered on Friday when JPMorgan Chase revealed it was forced to add $1.5 billion to its consumer loan loss reserves. The big problem: When it took over Washington Mutual last year, the biggest failed S&L of all time, it inherited a cesspool of mortgages that are now going bad at an accelerating pace. Other big consumer banks — like Citigroup and Bank of America — likely face similar woes.

The trading profits of big investment banks are a bubble: What most Wall Street bank analysts still don’t seem to recognize is that the giant trading profits they’ve been so enthusiastic about are generated by the same low-interest Fed policy that created the housing bubble — and is now in the process of creating MORE bubbles.

Without the Fed’s largesse, without the low-cost financing, and without the big risk appetite it generates, most of the big bank trading profits would have been impossible. More to the point: Just as soon as the Fed finally executes an exit plan, the bulk of those profits are likely to turn to losses.

What To Do

First and foremost, do not let up your guard when it comes to keeping your money safe. Yes, I know. With all the talk of the “end” to the crisis and Treasury bills paying virtually nothing, it’s tempting to venture away from safe harbors.

But how much more yield can you get by doing so? If you switch from Treasury bills to bank CDs, for example, the most you can gain is a small fraction of a percent. And if you switch from bank CDs to low-rated corporate debt, the extra yield you get is even less attractive.

In sum …

At this early stage so soon after the worst debt crisis since the Great Depression, the TRUE RISK of putting your money in higher yielding savings vehicles is still very high. Nevertheless, banks and other borrowers are asking you to take that risk WITHOUT paying you more than pennies for it.

My recommendation: Tell them to go fly a kite!

For your keep-safe funds, use strictly short-term Treasuries or equivalent.

Second, if you do other business with a bank or if you still want to keep some part of your savings in bank CDs … at least be sure to avoid the banks most likely to fail and stick with the ones most likely to survive. (For the latest Weiss Lists of the weakest banks and S&Ls, click here. For the strongest, click here.)

Third, bear in mind that, when it comes to your investment decision-making, TIMING is everything.

Last year, the stepped-up pace of bank failures did not derail the weak-but-continuing recovery in the U.S. economy. And for now, that’s bound to remain the case. As soon as we see signs that’s about to change, we’ll do our best to alert you. Until then, we stick with our current posture: Continue to invest, but do so with great caution.

Good luck and God bless!

Martin

About Money and Markets

For more information and archived issues, visit http://www.moneyandmarkets.com

This investment news is brought to you by Money and Markets. Money and Markets is a free daily investment newsletter from Martin D. Weiss and Weiss Research analysts offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. Dr. Weiss is a leader in the fields of investing, interest rates, financial safety and economic forecasting. To view archives or subscribe, visit http://www.moneyandmarkets.com.

Here are some quotes from Thomas Jefferson that are highly germane to what we are experiencing in today’s world.  Where are the modern Thomas Jefferson’s when we need them?

“When we get piled upon one another in large cities, as in Europe, we shall become as corrupt as Europe.”

“The democracy will cease to exist when you take away from those who are willing to work and give to those who would not.”

“It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.”

“I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.”

“My reading of history convinces me that most bad government results from too much government.”

“No free man shall ever be debarred the use of arms.”

“The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.”

“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. “

“To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical. “

And, In 1802 Thomas Jefferson said:

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…”