Dangerous times are coming, the world cannot continue its life where it left off before the epidemic, and in such cases reserves, coverage and security are needed, the Prime Minister stated on Tuesday, at the press conference held with the Governor of the Central Bank at the logistics center of the Hungarian National Bank (MNB) in Budapest.
Viktor Orbán, after viewing the gold reserves kept by the MNB in the company of the central bank governor, emphasized that it is important for people to have a lot of gold, because in order for people to have money, money is needed on the one hand, and money has value. The value of money is guaranteed by three things: gold, the central bank and the government, he added.
"Troublesome times are coming, dangerous times are coming, the world cannot continue its life where it left off before the epidemic, and in such cases reserves, cover and security are needed," said the Prime Minister, who thanked Central Bank Governor György Matolcsy for the MNB's decision to do so. it provides the reserve, cover and security for the country.
He recalled: a few years ago, they noticed that a movement had started on the gold market, that the gold purchase and reserve policy of the central banks had changed. They saw that the belief was formed that although there is money on the market and credit is abundantly available, there are times when it is not safe to rely only on credit, he continued.
According to the Prime Minister, that is why the government, respecting the independence of the central bank, said: let there be more and keep the gold reserves at home, but it was no longer the government's competence to decide how much more and when it would arrive home.
Viktor Orbán also drew attention to the fact that it is a procedure that takes several years to bring home gold stocks from traditional storage places, and in Hungary not only the cash but also the gold is kept under the most modern international security conditions.
György Matolcsy, the president of the MNB, said: we are in a special and joyful moment, the nation's gold has come home, Hungary's gold reserves have increased. He thanked all those who participated in bringing home the 63 tons of gold that arrived in Hungary over the past year. He assessed that this is a very special moment in economic history, because Hungary's gold reserves have never been so high.
He reminded: in 2018, on the strategic advice of the prime minister, the central bank decided to increase Hungary's gold reserve tenfold, and then last year they decided to expand it again, so that the gold reserve currently stands at 94.5 tons.
He pointed out: this is how we can get ahead of ourselves, since Hungary jumped from 56th place to 36th place in the ranking of gold reserves in the world, and in the region we moved from sixth to third place, only Poland and Romania have larger gold reserves. At the same time, Hungary became the leader in gold reserves per capita in the region. He indicated: each Hungarian gets 0.31 ounces of gold, which is already a respectable figure, but still a third of the Austrian value, so there is more to come.
Source: MTI
Photo: MTI/Szilárd Koszticsák)
