I installed RVM using the single instruction mentioned at the RVM website (using git).
Then I installed Ruby version 1.9.2 and 1.8.7 using:
rvm insta
I installed Ruby on Rails on a Ubuntu 11.10 VM, using "HOW TO INSTALL RUBY ON RAILS IN UBUNTU 11.10".
After installing it, I was running into the same issue. The only thing that seems to be missing from the tutorial in my opinion, is the following command:
rvm --default use 1.9.2
Although Ruby is properly installed, RVM seems to redefine in each session Ruby is to be used. The problem was that the default Ruby pointed to the "system ruby", and, in my case, this one pointed to nowhere and made the call rvm info return a result similar to the initial post.
To solve this issue, one of the follwings commands must be used:
rvm --default use 1.9.x
or (valid only for the current session)
rvm use 1.9.x
Before I could start the server, I also came across "ExecJS and could not find a JavaScript runtime". As proposed in several answers, I solved it by adding the following lines to the Gemfile.
gem 'execjs'
gem 'therubyracer'
and running bundle install afterwards.