US Money Reserve Opinion on the Use of the Penny

Why is the penny still in use? This is a question many people have been debating for years. The small coin is practically worthless, and it even costs more to make than it is worth! Recently, the president of the US Money Reserve, Philip Diehl, weighed in on the subject with PR Newswire.

The biggest problem with the penny is it simply is not worth anything anymore, not even the time it takes for a person to bend over and pick it up. The time it would take to do so would have that person being paid less than minimum wage. However, the circulation of the penny still exists, why?

Some tout its necessity because if production were ceased then prices would increase and inflation would occur. This argument has seemed plausible for many of the past 25 years, but now with 75 percent of transactions taking place with a card rather than cash prices could remain stagnant. Diehl is even more optimistic and thinks that many companies would round down a penny or two to make their prices more competitive rather than rounding up and possibly losing market share.

Others say that if the penny needs to be taken out of circulation for costing too much, then the nickel should as well as it costs 9.4 cents to produce. However the nickel still has a chance to be made profitable as it could be made with cheaper materials whereas the penny is composed of nearly 100 percent zinc.

The main people who stand to profit from the production of the penny produce its blanks or serve on lobbies for the zinc industry. Other than for a select few the cessation of production would have no ill effects. It would actually save American taxpayers of $100 million in production costs each year.

The US Money Reserve is the largest distributor of gold, platinum, and silver coins issued by the federal government. It was started by gold market experts who sought to provide excellent customer service to those interested in investing in precious metals. These precious metals serve as a hedge against inflation and geopolitical events which can threaten the value of paper currency worldwide.

George Soros Believes There is Another Way

Russia, like many other countries, is battling the possibility of crisis or economic collapse. People are willing to blame the crisis strictly on the European market and the people heading up the economy. George Soros must know something about money and finances since he is one of the world’s wealthiest financiers according to Fortune magazine. He speaks out on refugees and what they are costing in the area of the European market. In talking with Chancellor Merkel, Soros made no mistake in giving his opinion on the Euro vs one money.

George Soros has long been a speaker and teacher of economy. He has the nickname of the “man who broke the bank”. George is a financier that is known to many to have high opinions on the Euro and how it is being run. He is worth billions so he must have some idea of how to manage an economy and make it work for him.

According to the CBS news interview, George Soro and others have a strong opinion on the refugee crisis and possible downfall of Europe. In the interview, it is spoken that since the “open policy”, over one million refugees have tried or succeeded to enter parts of Germany. Thousands try to enter by boat loads. The problem with this is that many of these refugees are coming illegally. They are overloading the society and causing a crisis. These migrants are unable to speak the language of the country they migrate to. This is making it difficult for them to get a job and work in the new country. This alone is making these refugees a burden to the society.

It is felt by many that the German President should limit the amount of refugees coming into Germany. It is also felt that this should not be open to everyone to just enter. They must meet certain guidelines and be able to offer something back to the community. People that enter the country must learn Germany’s language. They must also have a job or create a job for their family. Radicalization is very important to the success of this refugee program and to keep the area from a crisis.

Most people believe that the terrorist are coming from these migrations but in the CBS interview, it is said that the terrorist are actual “natives and second generation European natives to the area. Most of the people coming from migration are running from terrorism not to create terrorism. Yes, we should help our fellow man but there should be some rules and limits placed on the process if we want it to work for all involved.

Coriant & Shaygan: The Innovative Leaders

Innovation is to bring forth a product, service, or an idea that has not been around yet. To do this right you must combine insight of what will be needed by customers in the near future and the ability to put resources together to flesh it out in the real world. People and companies that focus on serving their customers with relevant resources find innovation comes easier; it is putting first things first as they say. The company Coriant is known for innovation; Shaygan Kheradpir is also known for this. Perhaps this is why Coriant brought him on board to work with them.

Shaygan has developed himself into a proven innovative leader. He has acquired the knowledge by completing Bachelor, Master, and Doctoral degrees in electrical engineering. His trail is sprinkled with new ideas, programs, teams, and services that companies are still benefiting from today. This started with his first job at GTE where the Wall Street Journal noted him for being respected because he delivered new products on schedule.

He was the first CIO/CTO at Verizon, which are being the Chief Information Officer & Chief Technology Officer. While there he developed teams of people that came up with new ideas that could be tested quickly. During his time at Barclay’s he became the first person who was a technology executive to sit on the executive team.

Coriant is a company that has clearly established itself as an innovative leader in their industry. They are international network solution organization that has customers in over 100 countries now. They are always on the cutting edge of providing relevant products and services for these customers with over 1800 patents on their innovations. Coriant had been working with Shaygan on a project; he was familiar with the company’s culture, goals and strategies, so it made sense to bring him on board full time.

The marriage per se of these two innovators, Shaygan and Coriant, should make their customers very satisfied in the years to come. As of September 2014 he is now the Chief Executive Officer and Chairman of the Board. His focus will be developing new solutions that matter the most to their users around the world.