Although George Soros is known in the investment community as the leading progressive investor in the United States, he now has some conservative competition from U.S. Money Reserve.
According to Crunchbase and Glassdoor, The Industry Council for Tangible Assets (ICTA) has named U.S. Money Reserve president Philip N. Diehl as the president of their organization. U.S. Money Reserve helps sell gold and silver assets to the common man, as a way to protect assets against the careless financial behavior of the current U.S. government.
Diehl highly values creating a favorable atmosphere for gold and silver companies to compete and sell their wares. Diehl worked to fight against a Minnesota law that made it hard for businessmen to sell their products to customers. Diehl is also a former director for the United State Mint, so he has vast experience about the government perspective for the regulation of precious metals.
George Soros profits from making risky hedge fund bets. He sees that companies are soon going to decline, and then bets against them. Diehl, by contrast, thinks that it is more important to hold assets that are stable and long term. Gold and silver are prime examples.
Although the paper value of the Soros fortune may be far more than the typical gold and silver investor, if the economy of the United States ever crashes, gold and silver will still be just as valuable then as it is now. Not true with corporate and government bonds and stocks, which are Soros’ financial life blood. As director of ICTA, Diehl is going to try to help the reputation of precious metals gain a makeover in the U.S.
A lot of modern economists scoff at the idea of using gold and silver, but they were valued as monetary units until very recent history. The market economists and their political stooges lose sleep whenever the economy takes a nosedive. Not so with the wise precious metals investor.
He chuckles as he views his glittery stash in the safe. No matter what the price level of the paper market, he has something that has been valued for millennia as a store of value.