Document Library
| Name | Description |
 | Ganesha and the Price of Gold | An analysis of supply and demand fundamentals suggests that the current gold price does not indicate an asset price bubble, and the historic change in the status of gold by central banks implies a major revaluation not yet reflected in the gold price. As the restructuring of the global economy continues, particularly with respect to the world reserve currency, there is a clear possibility that the gold price will move up sharply from current levels. |
| China's Dragons: Oil, Gold, and the US Dollar | China and a growing list of countries are against the petrodollar standard and for a new reserve currency. The petrodollar standard is the Achilles' heel of the US dollar's world reserve currency status. China is the second biggest consumer of oil and Asia, as a region, is the largest. A stronger Chinese yuan will guarantee China's oil supply. The US dollar moved from a gold standard to a de facto oil standard in 1971. When the petrodollar standard ends, the US dollar will fall while oil and gold--two things that China is buying--will rise. |
| Faces of Death: The US Dollar in Crisis | Past monetary inflation has led to unsustainable debt levels in the US crippling banks and crushing the US economy. The US policy response guarantees a lower dollar in the future. |
| Madmen, Gamblers, Alcoholics, the US Dollar and Gold | Investors, governments and central banks around the world are seeking safety outside the US dollar, particularly in gold, as well as outside of the US stock market, e.g., in emerging economies. |
| The Ultimate Bubble and the Mother of All Carry Trades | Low interest rates contribute to the formation of asset price bubbles, but neither the value of the US dollar or the price of gold depend only on interest rates or on the US dollar carry trade. |
| Bernanke's Dilemma: Hyperinflation and the US Dollar | With interest rates near 0% and with unprecedented government debt and deficit spending beyond sustainable levels there is a clear risk of high inflation or hyperinflation if inflationary forces are not counterbalanced with a heavy hand. In theory, high inflation or hyperinflation could be prevented by restricting the flow of money and credit to consumers and businesses. Such a policy would exert deflationary pressure on the US dollar within the domestic US economy since principal and interest payments on existing debt would drain money from circulation. While preventing inflation temporarily, such a policy would not succeed in the long run because, in addition to offsetting inflation, deflation depresses economic activity and results in debt defaults. |
| Interview: Rob McEwen and the Next Homestake Mining Company | Gold mining industry legend Rob McEwen, Chairman and CEO of US Gold Corporation (NYSE:UXG and TSX:UXG), in an exclusive interview with Hera Research, discusses financial markets, the McEwen Junior Gold Index (MJGI) and the junior mining sector, which he believes offers superior growth opportunities, and where the gold market is headed in 2010 and beyond. Mr. McEwen also offers unique insights and reveals his strategy to create the next Homestake Mining Company. |
| Evaluating US Treasury Auction Distress (April 2010) | Without a robust economic recovery in the US, it seems unlikely that the apparent distress of US Treasury auctions will abate. Among other things, the gap between increasing US federal government spending and falling federal tax receipts is currently growing. A continuation of current US federal government and Federal Reserve policies under deteriorating economic conditions suggests levels of debt that could not be absorbed by US creditors, and a so-called double-dip recession would put extreme pressure on the US dollar. |
| Interview: Ross Beaty's 100 Year Energy Plan | Ross J. Beaty, Chairman and CEO of Magma Energy Corp. (TSX:MXY) talks about green energy, peak oil and geopolitical risk and reveals the investment strategies of Lumina Capital Partners, LP. |
| OTC Derivatives: Failed Banks or Failed Nations? | Economic bubbles are not recognized by those inside of them, and the entire Western world has become quietly trapped inside the largest economic bubble in history. The risks that led to the financial crisis in 2008 are likely to remain present in the global financial system for years to come. History may remember the global financial crisis that began in 2008 as a fateful choice between failed banks and failed nations. |
| Into the Abyss: The Cycle of Debt Deflation | The US economy is in a downward spiral of debt deflation despite the bold actions of the federal government and of the US Federal Reserve taken in response to the financial crisis that began in 2008 and the associated recession. Although the vicious circle of debt deflation is not widely recognized, precisely what von Mises described is happening before our eyes. |
| Interview: Jim Rogers on Currencies and Inflation | Jim Rogers doesn’t mince words. When a person as remarkably successful and accomplished as Jim Rogers, and having long experience, states that the official statistics produced by government economists and views expressed in mainstream financial news outlets are incorrect, or disingenuous, one must take pause. |
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The caduceus (from the Greek kerykeion), depicted as a short herald's staff entwined by two serpents in the form of a double helix surmounted by wings, is carried by Iris, who is the messenger of the goddess Hera.
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The Temple of Hera located in the ancient Greek city of Poseidonia is an archaic Doric temple built circa 550 BCE, The temple at Poseidonia is part of a larger enclosed sanctuary to Hera, a Heraion, that encompasses several minor temples and altars. An open-air altar, where
offerings to Hera are made, is located in front of the temple. The
altar, which is made from blocks of limestone, extends the
entire breath of the temple and is accessible by lateral stairs.
Offerings to Hera are made on the open-air altar in front of the temple
thus the faithful can attend rites and sacrifices without entering the
naos or central room.
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A Vision of Hera
Thy beauteous form before me, it did seem,
appeared, O mistress Hera, in a dream.
As first, by fervent prayers called,
to Atreus' royal sons of old.
For when they Ares' work completed had,
from where the streams of the Scamander sped
they started hither for their home,
but first to Argos could not come.
Until they prayed to thee and Zeus thy lord,
and also Thyone's lovely child implored
with incense-offerings even now
their townsmen keep their ancient vow.
- Sappho (from The lyric songs of the Greeks: The extant fragments of Sappho, Alcaeus, Anacreon, and the minor Greek monodists, by Walter Petersen, Badger 1918, translated from the Egyptian papyri)
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