Quote

Debasing your currency sometimes works in the short term, it has never worked in the long term and does not even usually work in the medium term. Lots of politicians like to do it because it is an easy way.

Jim Rogers

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Jim Rogers
Age: 82
Born: 1942
Born: October 19
Businessperson
Economist
Entrepreneur
Financier
Investor
Non-Fiction Writer
Baltimore
Maryland
James Jim Beeland Rogers
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Long
Usually
Currency
Way
Works
Medium
Never
Term
Mediums
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Easy
Politicians
Doe
Lots
Sometimes
Politician
Even
Worked
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Debasing

More quotes by Jim Rogers

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It's a lot of fun finding a country that nobody knows about. The only thing better is finding a country everybody's bullish on and shorting it.
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Lady Luck smiles on those who continue their efforts
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Beware of all politicians everywhere. They excelled at recess when they were in school but have excelled at little since.
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Not one country in existence today has had the same borders and government for as long as two hundred years. The world will continue changing.
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I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime.
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Paper money is made of cotton, and I'm long cotton, by the way. One reason I'm long cotton is because Dr. Bernanke is out there running the printing presses as fast as he can.
Jim Rogers
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When things go wrong on a macroeconomic level, it's almost always this way. People find someone to blame, whether it's blacks, whites, Christians, Jews, Muslims-whoever.
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Historically, there has been a bull market in commodities every 20 or 30 years.
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If you want to be lucky, do your homework.
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You can no longer buy commodities at Merrill Lynch. My guess is many analysts and even executives are too young to know how profitable a hot commodities market can be. They will soon.
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I haven't met a rich technician
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Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.
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Most successful investors, in fact, do nothing most of the time.
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If you bail out every investment bank that gets in trouble, that's not capitalism, that's socialism for the rich
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The first loss is the best loss.
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The Federal Reserve was not founded to bail out Bear Stearns or a few hedge funds. It was founded to keep a stable currency and maintain its value.
Jim Rogers
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If anybody laughs at your idea, view it as a sign of potential success!
Jim Rogers
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Diversification is something that stock brokers came up with to protect themselves, so they wouldn't get sued for making bad investment choices for clients. Henry Ford never diversified, Bill Gates didn't diversify. The way to get rich is to put your eggs in one basket, but watch that basket very carefully. And make sure you have the right basket.
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If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia.
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I was poor once, I didn't like it, I don't want to be poor again.
Jim Rogers