Philip Diehl is the current president of the U.S. Money Reserve, a private firm that has been contracted by the government of United States to distribute its gold, silver and platinum coins in the country. Currently, the U.S. Money Reserve is the biggest distributor of government issued gold, silver and platinum coins all over the world.
Recently, Philip Diehl appeared before Enterprise Radio host Eric Dye to offer insight into his professional view and perspective of the hold market as an investment and about the gold ownership. As the president of the U.S. Money Reserve, Philip Diehl is in a better position to advise investors in America about investing in the precious metals industry.
Since the beginning of civilization, precious metals have not only been used as a medium of exchange but also a store of wealth. From what history has taught us, the precious metals as a store if wealth were very significant. It also the same as all the characteristics of the modern paper money as it was durable; it could easily be broken down; it was scarce in supply, and it could easily be transferred from one owner to another. The main advantage of the precious metals as a form of a store of wealth is that its demand increased day by day and thus its value also increased.
Philip Diehl urges the American people especially those seeking for investment opportunities to consider seriously investing in the precious metals industry. He says in the current world, keeping your money at a bank so that it can earn interest is a very risky game. This is because the current global economic state is not stable, and one is sure of the economic environment of tomorrow.
Inflation and devaluation are the biggest threats to paper money investment. This is beside the instability of interest rates. As inflation occurs the value of you, paper money investment reduces and its economic worth also reduces. This means that a number of commodities and services you would have bought with your money a few years back are more than what you can get currently with the same amount of money. Higher inflation rates lead to a fast devaluation of your money investment.
Your money investment at the bank is also subject to earning interest. This interest rates may not be as stable as you expect. During harsh economic times, the banks may award your investment as the small interest rate. This means that the longer the economic crisis, the lower your interest returns are. At the end of it you may not benefit from your investment.
Philip Diehl advises investors to go for gold investment as it is proof of all the disadvantages of paper money.