Jim Rogers quits dollar after declaring US recession

[Jim Nickerson]

Re: Jim Rogers quits dollar after declaring US recession

Jeez I could sure use a little of Jim Rogers foolishness myself to get a leg up in the world. Must've done something right.

I must assume Rogers did a lot of stuff correctly in amassing his apparent wealth.

The question that perplexes my gnat-fart sized brain, is how much money does a person have to accummulate in order to recognize there is a limit to how much a human can need during his/her life time, and when it comes to billionaires, then during the next several generations of one's progeny.

How much would make you feel safe and secure and for you to stop worrying about money, Lukester?

For me it is 2M bonars, and half that is because I'm married to a young-honey (52) who with zilch knowledge about investing would loose half that to investment advisors (she doesn't know Uncle Jack) probably. Otherwise, I think 1M would get me to the crematorium.

[EJ]

Re: Jim Rogers quits dollar after declaring US recession

I must assume Rogers did a lot of stuff correctly in amassing his apparent wealth.

The question that perplexes my gnat-fart sized brain, is how much money does a person have to accummulate in order to recognize there is a limit to how much a human can need during his/her life time, and when it comes to billionaires, then during the next several generations of one's progeny.

How much would make you feel safe and secure and for you to stop worrying about money, Lukester?

For me it is 2M bonars, and half that is because I'm married to a young-honey (52) who with zilch knowledge about investing would loose half that to investment advisors (she doesn't know Uncle Jack) probably. Otherwise, I think 1M would get me to the crematorium.

My two cents: My take on Rogers from talking with him is that he's driven to keep playing the game at the level he has achieved. I don't think he wants to take it to the next level, but doesn't want to fall back, either. Not the retiring type.

[Jim Nickerson]

Re: Jim Rogers quits dollar after declaring US recession

My two cents: My take on Rogers from talking with him is that he's driven to keep playing the game at the level he has achieved. I don't think he wants to take it to the next level, but doesn't want to fall back, either. Not the retiring type.

I understand "driven" having been there for a while, and I didn't understand sitting-on-one's-ass-doing-nothing except what one must do--like eat, sleep, bathe. Now I've done both, and the latter is much better.

I invest because of the challenge, and because one can do it with very little contact with humans. But as I said above, if and when I get to 2M bonars, I'm logging out of iTulip and everything else to do with finance.

If I had made a life of investing as has Rogers and succeeded in being a billionaire, I'll be damned if I wouldn't find another diversion--he could go around the world again but this time from north to south then north again.

[touchring]

Re: Jim Rogers quits dollar after declaring US recession

Warren Buffet interview on CNBC - in China, first visit last 12 years. :p

Just to show how often Americans travel!

http://www.cnbc.com/id/21451166

Perhaps people aren't as stupid as they appear, who needs a passport to travel abroad when the bonar is so weak. I just joshing though, people are ignorant.

[GRG55]

Re: Jim Rogers quits dollar after declaring US recession

I understand "driven" having been there for a while, and I didn't understand sitting-on-one's-ass-doing-nothing except what one must do--like eat, sleep, bathe. Now I've done both, and the latter is much better.

I invest because of the challenge, and because one can do it with very little contact with humans. But as I said above, if and when I get to 2M bonars, I'm logging out of iTulip and everything else to do with finance.

If I had made a life of investing as has Rogers and succeeded in being a billionaire, I'll be damned if I wouldn't find another diversion--he could go around the world again but this time from north to south then north again.

"Be simple and rediscover the world" --Dostoyevsky--

[jk]

Re: Jim Rogers quits dollar after declaring US recession

I understand "driven" having been there for a while, and I didn't understand sitting-on-one's-ass-doing-nothing except what one must do--like eat, sleep, bathe. Now I've done both, and the latter is much better.

I invest because of the challenge, and because one can do it with very little contact with humans. But as I said above, if and when I get to 2M bonars, I'm logging out of iTulip and everything else to do with finance.

jim, then who would you trust to manage your money?

[Jim Nickerson]

Re: Jim Rogers quits dollar after declaring US recession

jim, then who would you trust to manage your money?

The same as so many old retired farts do, put in bank CD's and going down there to the bank every six months to roll it over will give me something to which to look forward--someone has to continue to provide cheap money to finance the FIRE economy.

BUT, I am not sure I am ever going to get to 2MBonars.

[rj1]

Re: Jim Rogers quits dollar after declaring US recession

Agreed, travelers have seen it first-hand and know what a terrible thing is happening to the bonar. The other 90% as Tet said are just clueless to the meaning of it all.

We will need to suffer in ways unimaginable for joe sixpack to reach understanding.

Probably the one way this can be done is the ever-increasing price of oil, which should translate into a higher price for a gallon of gasoline. People need to learn that the reason for the higher prices is a lower dollar alongside higher demand, and not blame the Saudis or Venezuelans for shirking supply as they are encouraged to by the media.

My take on Rogers from talking with him is that he's driven to keep playing the game at the level he has achieved. I don't think he wants to take it to the next level, but doesn't want to fall back, either. Not the retiring type.

My take on Rogers, who I've not talked to, is that you're always investing one way or another. It does not make sense to be in high-risk investments in your 60s, but it makes sense to be in low-risk investments to tread water so you can have a comfortable retirement.

And it's not as if it requires a lot of different work from what he did earlier in life. As Lee Trevino once said when asked if he would ever retire: "And do what, play golf?"

[c1ue]

Re: Jim Rogers quits dollar after declaring US recession

BUT, I am not sure I am ever going to get to 2MBonars.

Jim,

I'm pretty sure you can get to 2M Bonars, but the question is what will they buy?

If we really do achieve Weimerica, it could be a loaf of bread.