Ron Hera – The End of Cheap Everything

By Greg Hunter’s 

“We are in a computer generated dream world . . . because everything is rigged.”  That’s what Ron Hera of said this week when interviewed about living in an age he calls “The end of cheap everything.”  The system isn’t going to collapse, it already has.  Hera says, “I think the system failed in 2008, and we are essentially living on borrowed time.”  As far as the Libor rate rigging fraud, Hera says, “Workers, savers and taxpayers will pay for Libor rate rigging.”

He adds, “There is no end in sight to this crime wave . . . “They will ultimately print the money to paper over the problems,” for the too big to fail banks.   Count on inflation.  Join Greg Hunter as he goes One-on-One with Ron Hera.

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  1. Shadow of Doubt

    Like Ron Hera, I too believe that our economic system failed in 2008.

    The reason we don’t see the depression era long lines for the “soup kitchens” is our political elites have “wall papered” reality away. Instead of “soup kitchens” lines we now have 46.5 million people on food stamps. The down and out masses will no longer be seen on the street looking for work because they can now stay at home and watch TV while recieving benefits for 99 weeks.

    Perhaps there won’t be a great collapse–just a series of whimpers.

    • Greg

      Shadow of Doubt,
      I think there will be a sudden collapse I just don’t know when. I worry less about what unemployed people get and more about the tremendous ripoffs the bankers are allowed to do without fear of prosecution. I have been on unemployment, and let me tell you it is not fun or easy. Why do you think I started this site? Thank you for your comment.

      • Shadow of Doubt

        I would disagree with your assessment on unemployment. Yes, being unemployed is certainly not easy or fun–I am living it as we speak. All one has to do is read Rev. Boetcker’s 1916 pamphlet on the 10 Cannots ( to see why America’s economy is in trouble.
        If unemployment led you to create your website we are all the richer for it. As Boetcker states, “You cannot build character and courage by destroying men’s initiative and independence.” I doubt manipulating reality or turning common sense on its head will work real well for our political elite over the long haul.

        • Greg

          Shadow of Doubt,
          Thank you for you intelligent and heartfelt reply. I hope you find work or start a business. Do not give up. You are not alone.

        • C

          You can’t assume that TPTB WANT strong men with character. They want us weak and stupid without strong family and friend networks.

    • Dave

      It looks more like a rubber ball rolling down stairs, to me. Each bounce is the next QE followed by a lower low. This sort of thing has been the norm for 20+ years in Japan. The same crook, Bernanke, told the Japanese to do it years before he stuck it to us! No market clearing, because that would send Rich guys jumping out of windows like 1929!

    • hjb

      maybe you should be broke living on burger king coupons, wearing clothes you bought at goodwill ,getting your only nourishment from food stamps , unable to run the a/c even tho its 85 out at midnight and its 89 in the house….i worked hard all my life paid my way raised 2 families worked two jobs PAID INTO SOC SECURITY FOR 40 years
      only to have rich people (maybe like you,) help policians steal it and spend it now i am losing my house already lost my pension trying to stay afloat …my wife is going blind she has medicare and can get help all those republicans who have FREE MEDICAL FOR LIFE now want to take it away from us so they can continue to send young women and men to their deaths fighting in nonsensical wars in far off places and help other Elites like them enslave us soon i will be poor and can take my place with all seniors in tent cities or worse lying on the ground or worse pray you never have to experience it there is a feeling among the serfs :anger ,betrayal- fears,anguish hunger there are children in florida who never lived in a house,don’t go to school and are only getting nourishment from food stamps,welfare,family unemployment medicaid .. i gave a guy i know $20 he said the kids needed shoes shoes in thrift stores are $5 i get upset when people ignore the harsh reality that exists and no one cares

  2. George Too

    Thanks for providing real useful news and indepth analysis

    • Greg

      Thank you George Too, Eric, Sling and On Time.


    Keep your powder dry and your knife sharp and stack your sandbags 3 deep and 5 high……that used to be unrealized precaution and now it’s becoming the rule of thumb.

    • TJ Jackson

      You are so right. Remember, the future belongs to the prepared…

    • Caroline

      That’s good advise. Also spend some time now to find out if your friends and neighbors are preppers or sheeple. I found out my neighbors were not prepared, nor interested. It’s good to know ahead of time that I needed to keep my preps quiet. I finally found a company that offers an OPSEC way to get our food storage. A years worth of food all stacked up on a pallet and wrapped in black plastic. It’s called the CUBE. You can find it at on the special deals page. Don’t know how to cook with food storage? They have some good videos that shows you several recipes. It’s easier than I thought it would be to be prepared, you just have to know where to look.

      • Susan

        All it takes is money, I guess…

  4. Ricky

    Here is what Gary North wrote about the Libor.

    Not a big deal.

  5. g.johnson

    The era of “the end of cheap everything” began in 1913.

  6. David Robertson

    Once again, right on the money. I liked the fact Mr. Hera drew attention to the policy driven inflation and the real economy deflation.

    Personally I would have linked these two phenomena in that the policy driven inflation efforts of the Fed are actually causing the destruction of capital that is driving deflation in the real economy as I pointed out yesterday in my comment under the video featuring Mr Roberts.

    Mr. Hera in concert with Mr. Roberts tends to believe that the current situation that he calls I believe “a computer generated dream world” can be maintained for some time, longer than we may believe, and will be so maintained since presumably the crooks are in charge of everything and can ignore whatever legal ramifications would apply to ordinary citizens.

    Is this true? Are we destined to be helpless observers as the system limps along on life support while the criminals continue to loot everyone and steal everything that isn’t nailed down…with impunity? All of this while the people pick up the tab?

    Well no, it is simply the opinion of two very intelligent men who happen to be speaking from inside the belly of the beast. They have given us a very clear diagnosis of the situation and have described in graphic detail the predicament in which we now find ourselves. They are not however omniscient and like all prognosticators since the beginning of time can only see as far as their personal life experience and conceptual presuppositions will permit them to see. This means they accord to the people in charge of the beast a deference born of years of subservience to them and believe them to be almost omnipotent.

    However the people in charge bear a strong resemblance to the Wizard of Oz after he has been revealed and cries out “Pay no attention to that man behind the curtain”. Well it is too late for that and even the least alert of the people will now begin to come to their senses and realise they have been deceived. All it will take is that the people of America elect a raft of Ron Paul Republicans in the November elections with Ron Paul at their head as President.

    Then beginning on January 20, 2013 the revolution in America will take a grip of people’s minds and spread around the world to sweep away the fog and allow people everywhere to breathe freely for the first time. Yes it will take time but not as long as you think and we will not be standing by helplessly as the enemies of liberty destroy the last vestiges of human dignity to erect their centuries old dream of total world domination.

    • Dave

      The system’s too corrupt! Look at what John Roberts did, and the tortured logic he used to justify it.

    • Tired of Tyranny

      I cant see the video, above, at this time so can’t comment about Mr Hera. But in regards to Paul Craig Roberts, your statement –

      “This means they accord to the people in charge of the beast a deference born of years of subservience to them and believe them to be almost omnipotent.” – – – is completely off the mark. Roberts does not think the criminals in charge are omnipotent nor does he give them deference. He comes out and calls them criminals.

      If we could snap our fingers, and the American citizenry (including those wearing military & police uniforms) would immediately fully understand the current situation and how it came about – – this nightmare would end immediately. There would be a long process of rebuilding, but we wouldn’t allow a deeper hole to be dug. I have heard many interviews of Dr Roberts, and have read many articles he’s written. A central theme that comes through – – is the need for the American people to wake up. Many of us are surprised at how long the systematic fraud has gone on. The crooks seem to come up with new cons every week, yet the majority of the public seems to choose to remain clueless. – – – IMO the unknown factors that keep the con going ( perhaps for years longer ?) – – is what new scams they can come up with to keep it all going, how much the people are willing to suffer – including their loss of Liberty, and how naive/stupid they choose to be. – – – If your experience is similiar to that of many others, I’m sure youve been frustrated when trying to tell this information to most people. We are often met with a blank look in incomprehension, denial, and apathy. When that is no longer the case with tha critical number of people, . . . things will start to change. Will that take months, years, or a century ? Who knows.

    • DaveP

      The system will implode.. a la the Soviet Union in 1990. One only has to look around and realize how much Americans hate each other. There is no unified revolution brewing, only the forces of disintegration.
      The enemies of Liberty have been tightening their hold on the American mind and soul since 1963 as Eisenhower warned.

  7. Monnie Matthews

    Greg, this is one of your best entries. Hera agrees with Schiff’s prediction of lower prices in what we own (dollar-based funds, houses, cars, etc.) and higher prices in what we need (food, fuel, medical care, etc.).

    • Greg

      Monnie Matthews,
      Good points. Thank you for making it here.

  8. Monnie Matthews

    Anyone who thinks the bankers & politicians can keep this fantasy-world system going indefinitely must also believe that the laws of economics & mathematics have been suspended. They have NOT been suspended. Like a rubber band stretched too far snaps, the system will quickly break once a tipping point is reached.

  9. Gary, AZ


    I’m 56 years old with a bit of college education. I have to thank you for the series of interviews that you have been posting. Even I understand these guys, and it’s nice to know that what I have been doing to try and protect my simple working stiff self is exactly what they have all recomended.

    EXCELLENT series of interviews Greg. Keep’em coming!

    Thanks! from Arizona. 🙂

    • Greg

      You sound pretty smart to me!! Thank you for your comment.

  10. Will Swanson

    Greg, this may be slightly off topic but still on topic. If the student loan debt is larger than all the debt on credit cards, hasn’t the student loan program been the biggest stimulus, at over one trillion, that we have had? The local college has many students driving BMW’s and going to Europe on Christmas and Spring break. This has to be a back door stimlulus.

    • Greg

      Will Swanson,
      It has been and that party is ending. Taxpayers will probably be paid back a fraction of what is owed. Thank you for the comment.

  11. Rainman

    Greg, as always thanks for the informative reading, just adding another nail in the coffin,(excuse the cliche) but how much effect will the loss of reserve currency status have on US purchasing power, have been reading so much about currency swaps lately. MSM doesn’t seem to think it’s a big news.

  12. Jack

    You stated that the Federal Reserve is going to buy the bad mortages
    from the banks.
    What you and the people do not know is once the Feds get the bad mortages from the banks the Feds will start to getting the money from
    people that walked away from there under water homes.

    The Feds.have a right to take up to 25% of your income snd all of your
    federal income tax refund untill the debt you owe the US government is payed in full.
    This is just another way the US government will once again screw the people and let the dishonest Bansters off the hook.

    • Greg

      I did not say the fed is going to buy all the bad mortgages at least not from the man on the street. The Fed has already bought a couple of trillion dollars worth of mortgage-backed securities and will probably buy more. That just bails out the big banks. Thank you for the comment and info.


  13. Craig


    I was a small business lender. Laid off in 2008 when BS went belly up. I have a double major finance, economics. I have had to become a truck supervisor, until that institution failed. I then waited tables, that company is on the rocks. I made it back to a regional bank that supports small business, as much as they can.

    I have looked at this for 4 years and can come to no other conclusion except the end of this system is near. Economic education of my era (80’s) is no longer applicable. Hera is correct. We are in a state of animation. I believe we will come out, if the Socialists Politicians do not win.

    • Greg

      Thank you Craig for your sharing your story and ground level analysis.

  14. Bri 3D

    Good interview. However, I would argue that we do not have deflation AND inflation. Take housing for example, Home prices may be lower than they were 5 years ago but that is not deflation, that is the bursting of a bubble. Home prices SHOULD be about 30-50% lower than they are today. If interest rates were allowed to rise to a normal level and Fannie and Freddie were not receiving hundreds of billions of dollars in bailouts to prop up the housing market, then you would see home prices fall to a true free market price. Today’s home prices are still extremely INFLATED. It is the inflation that is preventing prices from dropping to their true value. Inflation doesn’t always have to mean higher prices, it can also mean that prices don’t fall as far as they should fall.

    P.S. – love your commentaries Greg. Keep up the good work.

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