Philip Diehl, current president of the US Money Reserve, discussed many topics with Eric Dye on www.prnewswire.com. The primary focus however, was on his qualifications and background for the position, as well as gold, silver, and platinum’s role in the US economy.
As 35th director of the US Mint, Diehl learned the value of bullion, and how owning US government gold offers dynamic opportunity for the consumer. In his current role for the US Money Reserve, this opportunity is helped to be expressed by his business practice, which includes the implementation of a six-year commitment to improving customer service. Read more: US Money Reserve TV Commercials – iSpot.tv and US Money Reserve – YouTube
Diehl explained how this improvement can be seen immediately through the employees and customer satisfaction. For the customers, all gold, silver, and platinum coins are backed by a guarantee which many of the competitors do not offer. This brought up the next topic.
In pertaining to the differentiation between the US Money Reserve and its competition. Diehl reiterated how important customer satisfaction was, but also how they have a better product collection than the competitors. There is also an inherit benefit to the industry when coins are produced as opposed to gold bars. Coins are difficult and costly to counterfeit compared to bars where the weight in purity is not guaranteed by the US economy.
When asked what the more recent, large impacts on the gold market were, Diehl listed what he believed to be the primary ones. These included the 2008 financial crisis, new demand for electronic gold transfers, economic speculation, and the rising value of the US dollar, which has been going up for about the past 24 months.
Closing out the interview, Diehl was asked what the drives for the following decade will consist of for the industry. He explained how there will be an increase due to four main factors. First, the growing middle class, because their retirement can be tied directly into the gold market.
Second was political uncertainty, which can be coupled with the third of global volatility. The fourth pertained to the dollar being expected to go down in value as it has reached it’s peak, therefore, there will be greater demand for gold since it’s a more stable form of currency and investment, more applicable to the global economy.
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