CNBC’s Squawk Box featured an interview with Philip Diehl who currently serves as the President of the US Money Reserve. The interview covered the demise of the penny, and Diehl is the perfect person to speak on the topic given his history. This article explains how Philip Diehl rails against the pro-penny lobby, and the video of his interview is below for your viewing reference.
#1: The Penny Is No Longer Necessary
Philip has noted many times that cash transactions represent just 25% of the money people spend. The cents are often taken care of by credit cards or debit cards, and a penny is no longer needed in large portion of sales. The penny could be phased out easily while retailers change their prices to meet the needs of an economy with no pennies.
#2: The Penny Is Too Expensive
The penny costs nearly twice its value to produce, and the US Mint is losing money every time a penny is pressed. Philip served as the director of the US Mint, and he has seen money fly out the door with the pressing of every penny. Philip knows the only people who benefit from the penny are the blank makers, zinc suppliers and stamp makers.
#3: The Government Must Update Itself
Nearly every modern country in the world has made changes to its currency over the years to meet the needs of the public. The US government is holding on to the tradition of the penny that could be replaced with something equally-meaningful, but the pro-penny lobby is very strong. Any time the penny seems to be ready to die, someone comes up with a reason to keep it.
The writing has been on the wall for the penny for many decades. Philip served as the director of the US Mint long ago, but he remembers moves to eliminate the penny from production. The penny is still alive because people do not want to progress with the rest of society, and Philip wants the government to make the right decision for its budget and the majority of its population.
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Jaime Gracia Dias is one of the most famous authors and educators in Brazil, listed on Wikipedia as one of Rio’s most influential people. He was born in 1970 in Rio de Janeiro to the renowned author and journalist Arnaldo Dias and his architect wife Dulce Garcia Dias. With such highly educated parents, it is perhaps not surprising that Jamie Garcia Dias grew up surrounded with books that were to have a major impact on his life as the discussion of his careers here shows, and as he’s said himself through his educational Vimeo videos.
Mentioning that with heavy influence from his father on his blog, Jaime Garcia Dias started his literature career by writing a novel at just 15. The novel, inspired by Joao Guimaraes Rosa’s The Devil to Pay in the Backlands made him an instant celebrity in Brazil’s intellectual circles. Encouraged by the success of his first novel, he would go on to author 9 more books by the time he hit 30. By 2015, he had already authored 20 well-received novels.
Apart from authoring many fictional books, Jamie Garcia Dias is also a prolific essayist. From 2013, he began contributing weekly essays to Jornal da Brasil. Most of them are about his childhood and the influence his father had on his literature career.
CrunchBase records that Jamie Garcia began working as a teacher at Carioca Literature Academy in 1995. The Academy, founded in 1907, acts as a training ground for teenagers from high school who plan to pursue a career in literature. So successful were his teaching methods that just two years later he was made the Academy’s Vice President. In 2007, he was made its President as it celebrated its 100th anniversary.
Over the course of his literature career spanning three decades, Jamie Garcia Dias has won numerous awards for his excellent novels. The most memorable one is perhaps the prestigious White Crane Award which he won in 2001 for his Fell from Heaven novel. The award and the subsequent promotion of his works by the already established Argentine author Josue Gomez made him a household name in much of South America.
With all these achievements, it is sometimes difficult to believe that Jamie Garcia Dias is just 45. If he continues with his current relentless pace, there is no doubt that he will go down in history as one of the most prolific authors in Brazil’s history, locally as well as internationally.
Sam Tabar is someone that other investors can look up to, and his biography shows that he’s had a long career in finance. He has made a lot of achievements in his career and he is continuing to do so. For all of his achievements, he is paying it forward for people to follow after him. After all, he is not just a successful businessman, he is someone who values people. He wants others to experience the success that he has experienced. Among being an investor he has also worked in a multitude of different companies as an Associate, Director, and other positions. However, he was working toward some major goal that could help others as well as himself.
One thing that makes a successful investor is knowledge. Sam Tabar has a lot of knowledge and frequently uses that to offer tips to others. He knows what to invest in and what to avoid. He understands the signs of a good company. A sign of a company that is profitable is good financial management. He has seen companies fail due to poor financial management. Among the markets that he has invested in is commodities and private businesses. He has profited greatly because he knew what to look for in those businesses. He is also willing to share this knowledge with others.
Sam Tabar also looks to the purpose of the company in order to help with the decision of whether or not to invest in the company. He looks at what the company provides for customers. After all, he understands that people go to businesses in order to gain something. This is the knowledge that is lost on a lot of businessmen which is why a lot of businesses fail before they start up. They have to have something to offer and know what they are offering.
One company that Sam Tabar knows is offering something good is THINX, a recent investment he covered on Twitter. THINX is a company offers a solution to a major problem among women in Africa. They have no means to deal with menstruation. As a result, they have to take the day off from school or work so that they can take care of the issue. THINX offers undergarments that helps out with the issue. One good thing about this product is that they are not made to be disposed of. They could be used over and over. They do come in packages of multiple undergarments. However, they can be used again as opposed to the other one’s that have been made for one use.
Sam Tabar also works as an attorney in New York. He has also worked in companies like Bank of America Merrill Lynch as a director. His experience in many different fields gives him a lot of things to say to people who want to to learn about different industries.
Brad Reifler and Forefront Capital have unveiled an investment plan specifically designed for those of us that aren’t lucky enough to be in the one percent. For many years the firm was focused on accredited investors that were worth over $1 million or had an annual salary over $200,000. Now he has designed a plan for the rest of us. The plan is called Forefront Income Trust and it offers a good investment opportunity to the middle class.
These investment structures are designed to offer diversification and mitigate risks and aren’t linked to the stock market. The plan is designed for those who already have a 401k and savings and are interested in higher risk but higher return investments. Investors must invest a minimum of $2,500. According to Mr. Reifler “We have interesting nuance programs that can give clients liquidity which is what they want and a preferred 8 percent return. We don’t make any money until they’ve earned that 8 percent, which is pretty unique on Wall Street.”
Mr. Reiflers desire to create investment opportunities for the middle class came when, at 80, his father-in-law asked him to invest his life savings. Mr. Reifler was surprised to find out that many of the investments he wanted to make weren’t allowed because his father-in-law wasn’t accredited. Mr. Reifler says that many people in the investment world believe the average person isn’t intelligent enough to invest in higher risk products. He hopes that his fund will meet the needs of the middle class and help close the widening economic gap between the 1% and the 99%.
Mr.Reifler grew up in Southern California. He attended the Harvard School for boys and then Bowdoin College. He started his first company Reifler Trading Corporation in 1982. The firm, which was involved in global derivatives, was sold to Refco in 2000. He founded Reifler Capital Management in 1992. The company is a commodity pool advisor focused on forgein exchange trading strategies. Mr. Reifler managed Refcos Institutional Sales Desk from 1995 until 2000. He then became founder and CEO of Pali Capital Inc. He resigned from Pali in 2008 and became CEO of Forefront Capital in 2009.
From his biography page Mr. Reifler states “Through the power of compounded returns, clients can potentially watch a small investment grow into a substantial retirement account”. He also says that his company will keep the investors best interest in mind because they don’t make money until the investor reaches an 8% return, unlike Wall Street which will make money regardless of whether or not the client does. Mr. Reifler says he wants to be a firm for the people, something hard to find in today’s market.