Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

THE Jim Rogers Thread (merged)

Discussions about the economic and financial ramifications of PEAK OIL

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby Colorado-Valley » Thu 02 Nov 2006, 14:54:11

A few weeks back I read that Dick Cheney has invested heavily in euros this year.

I called my local bank, and they can sell me euros, with delivery in about five days.

Hmm ... I wonder if that would be a good way to hedge against a falling dollar.

I'm not an investor in stocks and commodities, but maybe I could be a currency trader.

:-D
User avatar
Colorado-Valley
Tar Sands
Tar Sands
 
Posts: 729
Joined: Mon 16 Aug 2004, 03:00:00

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby Dreamtwister » Thu 02 Nov 2006, 15:13:18

$this->bbcode_second_pass_quote('Colorado-Valley', 'I') called my local bank, and they can sell me euros, with delivery in about five days.

Hmm ... I wonder if that would be a good way to hedge against a falling dollar.


Well, here's the problem with taking posession of euros. Where can you spend them? Will most American merchants recognize them for what they are? Are American merchants even allowed to take them as payment?

The thing with Dick's euros is that they are all digital. He can move into and out of them at will. He might be in euros today, while the euro is strong, but it could be yaun tomorrow, rubles the day after that, then gold the day after that.

Perhaps more importantly though, he never actually has to go into a store with a $20 and try to buy food.
The whole of human history is a refutation by experiment of the concept of "moral world order". - Friedrich Nietzsche
User avatar
Dreamtwister
Intermediate Crude
Intermediate Crude
 
Posts: 2529
Joined: Mon 06 Feb 2006, 04:00:00

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby RdSnt » Thu 02 Nov 2006, 15:24:01

Don't tell anybody what you done to prepare.


$this->bbcode_second_pass_quote('Colorado-Valley', 'S')o how is it you plan for stagflation?

(I bought some gold and silver, paid off debt, cut expenses and bought a small farm. I'm not sure what else to do ...)
Gravity is not a force, it is a boundary layer.
Everything is coincident.
Love: the state of suspended anticipation.
To get any appreciable distance from the Earth in
a sensible amount of time, you must lie.
User avatar
RdSnt
Heavy Crude
Heavy Crude
 
Posts: 1461
Joined: Wed 02 Feb 2005, 04:00:00
Location: Canada

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby firestarter » Thu 02 Nov 2006, 16:05:00

$this->bbcode_second_pass_quote('Colorado-Valley', 'S')o how is it you plan for stagflation?

(I bought some gold and silver, paid off debt, cut expenses and bought a small farm. I'm not sure what else to do ...)



I've done everything you've done except for the small farm thing--unless my small home mortgage counts. I do, however, have an elderly parent who owns a small farm in western Illinois, and I think I'm in his will. :razz:

My wife's been employed 23 years as a sanitary chemist at the world's largest water treatment plant, which has a legally mandated DB pension plan in place. Even though I bolted my job as a high school teacher, I've been fortunate to have been employed summers as a union carpenter, and have a dual pension windfall coming my way, one of which is protected by state law.

Most importantly, though, is that we spend wayyyyyy less than we take in. And were either of us to become unemployed, the only difference would be that we'd merely save less than we do now.

We accomplish our relatively austere spending via outdoor life, along with voracious reading (made cheaper with our community's excellent library). It also allows me to scan the plains for these goodies:
Image


CD 114
HEMINGRAY
[010] (F-Skirt) HEMINGRAY/No 11 (R-Skirt) PATENT MAY 2 1893 SDP

Red Amber . . . . . . . . . . $5,000-7,500
User avatar
firestarter
Heavy Crude
Heavy Crude
 
Posts: 1171
Joined: Sun 19 Mar 2006, 04:00:00

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby AirlinePilot » Thu 02 Nov 2006, 16:28:47

If Im not mistaken that looks like some sort of insulator? Why are they worth so much????

Im gonna live it up for the next few years. If you think a guy like that is moving for standard of living then fine. I doubt it. I would think he CREATES his own wherever he goes.

I'd rather be somewhere out west, maybe Montana or Wyoming on an isolated piece of land, with a way to make my own electricity and have a safe warm place in the winter.
User avatar
AirlinePilot
Moderator
Moderator
 
Posts: 4378
Joined: Tue 05 Apr 2005, 03:00:00
Location: South of Atlanta

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby Colorado-Valley » Thu 02 Nov 2006, 17:03:40

Read this and weep ...

"The dollar's full-system meltdown"

http://informationclearinghouse.info/article15440.htm

:(
User avatar
Colorado-Valley
Tar Sands
Tar Sands
 
Posts: 729
Joined: Mon 16 Aug 2004, 03:00:00

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby firestarter » Thu 02 Nov 2006, 17:27:45

$this->bbcode_second_pass_quote('AirlinePilot', 'I')f Im not mistaken that looks like some sort of insulator? Why are they worth so much????




Yes, it's an insulator, and it, among many others, has a wonderful, history. I don't want to give too much away about where they exist since I, along with my two boys, are hot on their trail.

Their value is generally associated with color, age, embossings (like dates) and their abundance. If you know where to look for them (takes a bit of research) then the search becomes as compelling as the find, and the value thing becomes seemingly inconsequential :wink: Hint: they are still in the wild, not being touched by human hands for, in some instances, over a hundred years.



p.s. Didn't mean to get away from Dante's original thread topic, so I'll shut up about this for now.
User avatar
firestarter
Heavy Crude
Heavy Crude
 
Posts: 1171
Joined: Sun 19 Mar 2006, 04:00:00

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby JPL » Thu 02 Nov 2006, 17:51:34

$this->bbcode_second_pass_quote('Dreamtwister', '
')Well, here's the problem with taking posession of euros. Where can you spend them?


Why, here in Europe of course - where we have a sound fiscal policy ;o)

Just bear in mind that The Old European Way of Life is Not Negotiable...

;o) ;o) ;o)

JPL
JPL
Heavy Crude
Heavy Crude
 
Posts: 1264
Joined: Sat 18 Mar 2006, 04:00:00
Location: Off with the Fey Folk
Top

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby Chicken_Little » Thu 02 Nov 2006, 19:46:21

$this->bbcode_second_pass_quote('JPL', '')$this->bbcode_second_pass_quote('Dreamtwister', '
')Well, here's the problem with taking posession of euros. Where can you spend them?


Why, here in Europe of course - where we have a sound fiscal policy ;o)

Just bear in mind that The Old European Way of Life is Not Negotiable...

;o) ;o) ;o)

JPL



You're so right.

We were around 2,000 years ago in the same towns and cities as we are now.

We will still be around 1,000 years in the future in the same places, mostly.

America? Don't make me laugh. The place is a joke. No history, no culture, no future.

An absolute craphole, to be frank.
Chicken_Little
Lignite
Lignite
 
Posts: 225
Joined: Thu 10 Mar 2005, 04:00:00
Location: Airstrip 1
Top

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby Micki » Thu 02 Nov 2006, 20:34:50

$this->bbcode_second_pass_quote('', 'Y')es, it's an insulator, and it, among many others, has a wonderful, history. I don't want to give too much away about where they exist since I, along with my two boys, are hot on their trail.

Their value is generally associated with color....


Insulator, is that what you call them?
Here is an article for those who are keen to learn more or invest in some.
Insulator

And yes, they tend to change color to a browny tone, with time. :shock:
You say that increases the value?
Micki
 
Top

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby pup55 » Thu 02 Nov 2006, 21:09:03

$this->bbcode_second_pass_quote('', 'p')roduce things for the next wave of cosumers


The world's premier supplier of explosives, armaments, fast jets and cruise missiles remains ready to supply its customers with the finest in military gear at bargain prices.

$this->bbcode_second_pass_quote('', 'S')ingapore as having a better standard of living


I've been to Singapore and I agree that it is quite nice. Weather good, people friendly, food pretty good. Lot of people crammed on to one little island, though. Problem:, it's situated in one of those places in the world that invariably catch a lot of crap when there is any sort of international conflict. In this case, at the foot of the Straits of Malaka, the main oil transit pinch point between Arabia and Japan/the US West Coast. The Japanese well knew this and it was the focus of a lot of attention in December 1941.


$this->bbcode_second_pass_quote('', 'a')bsolute craphole


Tsk Tsk. Like all nations, there are some good places, and some bad. Many places of incomparable beauty, incredible optimism, with a strong, innovative population, who if they would just unplug CNN (the "fear" channel) would be fully capable of overcoming this kind of challenge.

Then again, there's Alabama.

$this->bbcode_second_pass_quote('', 't')aking posession of euros


The problem with doing this at the airport and/or the bank is that you will not get a favorable exchange rate. Sometimes the spread beween buy and sell price is nearly 10%, so you have to be patient if you are going to do this so as to outlast any short term fluctuations. There are plenty of other ways to do this, such as international mutual funds, currency exchange futures, etc.

Might as well buy a shipping container load of Honda generators and not worry about it if you think that Oilmageddon is around the corner and the electronic trading system is about to collapse. If that happens, you will have a lot more problems than how to find a place to trade Euros.
User avatar
pup55
Light Sweet Crude
Light Sweet Crude
 
Posts: 5249
Joined: Wed 26 May 2004, 03:00:00
Top

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby oilluber » Thu 02 Nov 2006, 22:49:04

[quote="DantesPeak"]A Singapore news sources report today that Jim Rogers will be leaving the US and moving to Singapore, mainly because he sees Singapore as having a better standard of living.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>


The average american lives like a dog compared to
the avg citizen in an industrialized world like Western
Europe.

Of course, for the rich, America is as beautiful as it appears on
TV to the rest of the world.
User avatar
oilluber
Coal
Coal
 
Posts: 493
Joined: Sun 03 Jul 2005, 03:00:00

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby AirlinePilot » Fri 03 Nov 2006, 23:51:50

$this->bbcode_second_pass_quote('oilluber', 'T')he average american lives like a dog compared to
the avg citizen in an industrialized world like Western
Europe.

Of course, for the rich, America is as beautiful as it appears on
TV to the rest of the world.


That is just probably one of the most ignorant things I have ever seen on here. The average poor person in the US has a higher standard of living than most of the rest of the world save for Europe and a few places like Australia, Japan, and a few of the wealthy Asian nations. Dont kid yourself, there are horible conditions everywhere, but the reality is that even some convicts here live better than free people in many other countries.

Ive been around this blue marble quite a bit and I have to say we have it pretty good here in the US. All depends on your point of reference though and how much you happen to hate or love any particular country. I can think of very few places around the globe that I would rather call home than here in the US. There are a few spots which are better for sure. but as a whole, the population here enjoys a higher standard of living than most of the rest of the world.
Last edited by AirlinePilot on Sat 04 Nov 2006, 00:27:43, edited 1 time in total.
User avatar
AirlinePilot
Moderator
Moderator
 
Posts: 4378
Joined: Tue 05 Apr 2005, 03:00:00
Location: South of Atlanta
Top

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby Revi » Sat 04 Nov 2006, 00:16:45

$this->bbcode_second_pass_quote('Chicken_Little', '')$this->bbcode_second_pass_quote('JPL', '')$this->bbcode_second_pass_quote('Dreamtwister', '
')Well, here's the problem with taking posession of euros. Where can you spend them?


Why, here in Europe of course - where we have a sound fiscal policy ;o)

Just bear in mind that The Old European Way of Life is Not Negotiable...

;o) ;o) ;o)

JPL



You're so right.

We were around 2,000 years ago in the same towns and cities as we are now.

We will still be around 1,000 years in the future in the same places, mostly.

America? Don't make me laugh. The place is a joke. No history, no culture, no future.

An absolute craphole, to be frank.


I wouldn't be so smug if I was you. We have our own culture here in America like anywhere else in the world. I don't think any place is going to be a picnic in the near future. When our economy goes down it may take a lot of the world with it. Europe is littered with the remains of empires that rose and fell. You have cities that have been pulverized and rebuilt countless times. You know what it's like. It's not going to be fun anywhere.
User avatar
Revi
Light Sweet Crude
Light Sweet Crude
 
Posts: 7417
Joined: Mon 25 Apr 2005, 03:00:00
Location: Maine
Top

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby pup55 » Sat 04 Nov 2006, 08:12:05

$this->bbcode_second_pass_quote('', 'w')e have it pretty good here in the US
.

In the grand scheme of things, it is still pretty good most places. Lotta people swimming the Rio Grande every day to get in here.

$this->bbcode_second_pass_quote('', 'W')e were around 2,000 years ago in the same towns and cities as we are now.


There are some parts of this 2000 years that I would not care to repeat. In fact, I would say the last 50 years, after the Europeans got rid of their tyrants and dynasties (and started to imitate America) have been among the most prosperous and peaceful (except for places like Croatia, who were late in getting rid of the tyrants). Anyway, the key to survival for most of those years was being born to the right family.

Mid-14th Century

Here's another example that comes to mind. The period right after this, the Renaissance, might have made it worth it.

$this->bbcode_second_pass_quote('', 'W')e have our own culture here in America


I have a theory on this. You take your typical European village of the 1830-1860 era. Not enough room for the young people to have a place of their own, people starving (potato famine circa 1830), also the social order really restrictive (unlike the Europe of today). No way to buy a farm, no way to get beyond being an apprentice, if your father was a street sweeper, you will be a street sweeper. If you are lucky enough to be born to an upper crust family, you have it pretty good. Other than that,you were doomed to a boring life, or serving in one of the many armies that was marching through Europe at a given time. Feel free to re-read Dickens this Christmas season, for a refresher on what this era was like.

The most industrious young people get fed up with all of this crap and decide to take off for North America. Also, the lazy slackers, shysters, criminals, and everyone else that refuses to toe the line from a social order standpoint. A lot of people who, by their very nature, do not like being told what to do.

You dump them all onto the east coast. The toughest do not want any part of the cities anyway, and head west. The tougher and/or more eccentric they are, the farther west they get. The slackers and shysters and merchant class stay where they are, reproducing and populating the US northeast. The people that need their space head to Texas and Montana. Then, there's the whole thing in the US southeast: plantations, slavery, etc. and Kinda like Europe, in a way. You better be born to the right family (and with the right skin color). This comes to a screeching halt in 1865. The toughest of those people, also criminals and ex-confederates, head west too. A lot of these guys are responsible for some of the gunfights, etc. that this era was famous for. Some manage to rebuild where they are, and try to maintain the old social order. This lasts overtly until about 1950 when the race riots start (but covertly remains today).

Also, this era was famous for the genocide of the indigenous people, and we feel so bad about this that we now let the survivors run casinos to compensate.

There are periodic influxes of new immigrants. Each bring their special culture and benefits to the parts of the country in which they settle: Irish (political corruption and violence Boston and NY) Italians (mafia, NY and Chicago) Scandinavians (quirky sense of humor and efficient farming techniques, Northern Plains) Germans (incredibly unhealthy food, midwest and central great plains).

Some Blacks flee the south, and settle in the inner cities of the Northern US, and basically have it no better. Others stay where they are. They never get over the civil war/slavery thing. (sorry, no one wants to talk about this but it's true).

And that's pretty much where we are. There has been some mixing since about 1960, the dawn of the Air Conditioning age, which has led the way for suburban redevelopment in the southeast, Florida and Texas. The car culture expands like its cancerous self in California, and elsewhere in the West, where there are plenty of eccentric people to make it thrive. The new wave of immigrants is bringing their own special culture and talents throughout the country (smuggling, drug gangs, violence) as have the generations before it.

So what you have is a big, disorganized country, full of competing forces, tied together by the common bond that we hate to be told what to do. Also, we will not hesitate to resort to various forms of violence if we do not like what we see. These traits have helped us survive and thrive up until now. Whether this lack of social order eventually is our downfall remains to be seen, but it's not in our national character to have one central governing body, and have everybody cooperate cheerfully (like the Swedes), unless it's a real emergency (I am thinking 1941-1945 was the last such test of this, where there was 90% participation in a common effort).

Whether we still have this kind of effort in us is still in question. We had a brief flash of this immediately after 9-11, when 90% of the country was, for an instant, all on the same side. Unfortunately, our "leadership" told us to go shopping, rather than make the changes and sacrifices we are going to have to make to keep the whole thing going as a more or less "unit". At this point, we cannot even muster enough common effort to rebuild one of our largest cities, or two of our three tallest buildings. We will not be able to do this under the current political climate, under which every two years, we are treated to a multi-billion dollar bombardment of negative advertising, telling us that the "other side" is evil, somehow, thus making it impossible for either side to govern once they get elected.

We do not know for sure what is going to happen. The PO community can clearly see the level of seriousness of this threat. One plausible scenario is that we will be shocked into some sort of temporary national unity, like 1941, and accomodate the change that we will have to make to get over the problem. I am thinking if we were Swedes, or Finns, or Danes, this might be more likely to happen. Another is that we will break up into parts, and solve the problem on a regional basis (a reasonable scenario). A third is that a lot of blood will be shed, and we will descend into the chaos that is right below the surface anyway. Frankly, I do not think this to be particularly likely. If the problem is big enough, I think we will be reasonable enough to come together at some level to make the changes we will need to fix it. This may be a lot of really local, small solutions, adding up to the whole.

None of this is an assurance that the country (or countries) that emerge on the other side of this will have any resemblance to the one that goes in. But, our adaptability is one of our strengths.

We will see.
User avatar
pup55
Light Sweet Crude
Light Sweet Crude
 
Posts: 5249
Joined: Wed 26 May 2004, 03:00:00
Top

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby Cloud9 » Sat 04 Nov 2006, 08:37:24

Typical European, you think our history began when white people showed up. Tisk Tisk
User avatar
Cloud9
Intermediate Crude
Intermediate Crude
 
Posts: 2961
Joined: Wed 26 Jul 2006, 03:00:00

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby pup55 » Sat 04 Nov 2006, 10:01:22

No, we were talking about the "American Culture".

You are quite right, there is plenty of pre-white-man history, about 20,000 years worth of various attempts to construct civilizations and develop a complex society. A lot of it ended up in overshoot and dieoff. I think there is pleny of evidence that these people fought each other over resources just like we do.

The people that made it work (more or less) were the ones who avoided screwing up the ecosystem.
User avatar
pup55
Light Sweet Crude
Light Sweet Crude
 
Posts: 5249
Joined: Wed 26 May 2004, 03:00:00

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby oilluber » Sat 04 Nov 2006, 19:16:28

$this->bbcode_second_pass_quote('AirlinePilot', '')$this->bbcode_second_pass_quote('oilluber', 'T')he average american lives like a dog compared to
the avg citizen in an industrialized world like Western
Europe.

Of course, for the rich, America is as beautiful as it appears on
TV to the rest of the world.


That is just probably one of the most ignorant things I have ever seen on here. The average poor person in the US has a higher standard of living than most of the rest of the world save for Europe and a few places like Australia, Japan, and a few of the wealthy Asian nations. Dont kid yourself, there are horible conditions everywhere, but the reality is that even some convicts here live better than free people in many other countries.
.


Hey pilot, did you or can you read what I said ??
Can you read what you said ??
I think you have a problem reading english.
Don't quote me and then say something that is not
in my quote.

I lived in america, and I am talking about the slums in the hillsides and the ghettos. Now go to Germany or Finland or England,,,,,,
now tell me the avg US citizen is better off ??
User avatar
oilluber
Coal
Coal
 
Posts: 493
Joined: Sun 03 Jul 2005, 03:00:00
Top

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby markam » Sat 04 Nov 2006, 20:38:29

$this->bbcode_second_pass_quote('Colorado-Valley', 'A') few weeks back I read that Dick Cheney has invested heavily in euros this year.

I called my local bank, and they can sell me euros, with delivery in about five days.

Hmm ... I wonder if that would be a good way to hedge against a falling dollar.

I'm not an investor in stocks and commodities, but maybe I could be a currency trader.

:-D


Anybody with a couple of hundred bucks can open an account and trade currencies. Just be aware that with the 200:1 leverage that you can wield, your money will probably disappear in your first bad trade. Something like 90% of the people trading on the forex market lose money.
markam
Lignite
Lignite
 
Posts: 254
Joined: Wed 20 Jul 2005, 03:00:00
Location: PA
Top

Re: Jim Rogers Sees Commodities Boom/US Recesssion

Postby AirlinePilot » Sat 04 Nov 2006, 22:01:47

$this->bbcode_second_pass_quote('oilluber', 'T')he average american lives like a dog compared to
the avg citizen in an industrialized world like Western
Europe.


Did you not say this Oilluber?

I stand by my comment, it's an ignorant thing to say. I was just pointing out how ludicrous your comment was, can't you see that?
If you had stated something clarifying what you meant and I quote:

"I am talking about the slums in the hillsides and the ghettos"

than maybe your original statement would not sound so pompous.
As I said, there are slums and ghettos EVERYWHERE, Western Europe isn't immune to that problem.
User avatar
AirlinePilot
Moderator
Moderator
 
Posts: 4378
Joined: Tue 05 Apr 2005, 03:00:00
Location: South of Atlanta
Top

PreviousNext

Return to Economics & Finance

Who is online

Users browsing this forum: No registered users and 0 guests

cron