Executive Philip Diehl Noel was born on 11th June 1951. He has been serving as the Chief Director of the United States Mint Company. Philip Diehl is also an American citizen who currently serves as the United States Money Reserve Incorporation.
Recently, Mr. Diehl held an interview at the CNBC Squawk Box to talk the current state of the American penny. Mr. Diehl implied that the penny had been in operation in the capital market for more than twenty years. According to the US Money Reserve Chief Executive Officer, most of the transactions carried out in the capital use cash means. The transaction accounts for an estimate of seventy-five percent whereas the rest twenty-five percent is done through electronic means of payment.
In the interview, Sir Diehl explained that most of the transactions in the market would not face severe effects due to the penny elimination. According to CEO Philip Diehl, removal of the penny in the capital market will not lower the prices of stocks. He also added that the value of stock in the market will not change due to the penny elimination.
Sir Diehl Philip added that lack of penny in the market would not create a different situation from the one being experienced in the industry. Sir Diehl controls US Money Reserve, which serves as one of the largest distributors in the United States. He added that the penny elimination will save the current consumer state of facing stiff competition and bring about consistency.
Diehl added that the penny value is beyond hope. He said that the US Money Reserve will compensate the effect that would get encountered in the market. Diehl implied that the money had been useful in the market for more than twenty-five years. He added that the stakeholders in the industry needed to take one step at a time to achieve the best in the field.
In the interview, Philip stated that the penny production was already outsourced and it was mainly produced for private interests. Open