Gold Is A”Reserve Of Safety” – Draghi of ECB
Dr. Mario Draghi, former Governor of the Bank of Italy and the current President of the European Central Bank (ECB), during an open forum at Harvard’s Kennedy School of Government, answered a question about gold and why central banks want gold and what value it offers.
Larry Summers, also in attendance, introduced Draghi and expressed his belief in Draghi’s having “saved the European continent in 2012.”
Tekoa Da Silva, Bull Market Thinking Question:
Dr. Draghi what are your thoughts on gold as a reserve asset, you have the central banks like China and Russia increasing their reserves especially in the last 10 years, Germany for example asking for its holdings back from New York, it doesn’t offer any income unless its leased, why do you think they would want that and what value do you think it will offers in your opinion?