Ron Hera's Blog

Booms and busts happen also under the gold standard like we had in the 19th century various railroad and canal booms, and we also had real estate booms, first on the east coast in Chicago, then, at end of the century, in California.

The productive elements of the US economy are caught between powerful financial interests, e.g., banks seeking speculative gains, political constituencies seeking entitlements and government entities at all levels whose budgets and deficits are too large compared to their revenues. All three factions are competing for the same economic resources and all three are net consumers of wealth.

The Hera Research Newsletter (HRN) is pleased to present the following, information-packed interview with Rick Rule, founder of Global Resource Investments, Ltd. Mr. Rule discusses conventional oil and gas, oil shale, shale gas, oil sands, heavy crude, peak oil and alternative energy, with particular emphasis on geothermal power.

One of the most famous quotations of Austrian economist Ludwig von Mises is that “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency involved.”