Wednesday, November 21, 2018 Text is available under the CC BY-SA 3.0 licence.

Jim Rogers

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When I was a young man working 14 hour days, I traded using outrageous and terrifying leverage. I was either very lucky, very smart or very dumb. Thatís what terrifies people about commodities. Commodities themselves are no riskier than stocks. A stock on margin has more risk than a commodity fully paid for. Itís all about the degree of leverage.

 
Jim Rogers

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Every man is rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life. But after the division of labour has once thoroughly taken place, it is but a very small part of these with which a man's own labour can supply him. The far greater part of them he must derive from the labour of other people, and he must be rich or poor according to the quantity of that labour which he can command, or which he can afford to purchase. The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities.

 
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