Bitcoin Forum

Seemingly this Corona Virus has put the Free World and its associated markets into shambles. From Dropping the Dow Jones over 500 points on Friday to now seemingly China "panic printing" money in the nice sum of 1.2 Trillion Yuan. Needless to say the real questions lie in "What Next"? "What's really going on"? "How will this effect everything"? "Are we in trouble"? As usual any thoughts and comments are more than welcome.

Do you have a credible link to prove that China is printing money? because I am sure they are not doing any such misconducts. If they print money according to their own wish, they wouldn't go out to the world and distribute loans to the needy nations like Pakistan, Sri Lanka and Maldives among others. Printing money as per their own wish, will lead their economy in the same line as Venezuela or Zimbabwe. I am sure China will not take any such steps especially when they are aiming to become the strongest country in the world. So check your facts first!

 

Money printing or not, one thing will take over the market, the silent embargo of China products
Day after day there are so many restrictions connected to the coronavirus and we will see soon what caos will bring on the global market

https://cointelegraph.com/news/bitcoin-price-forms-golden-cross-as-china-panic-prints-170b/amp

I think you are talking about China pumping their market by printing $170++ millions because of the said health crisis. Well in an economic standpoint of view of any governments around the world, printing money is the best choice, right now.

Are we in trouble because of this? We really don't know, US-China trade war has somewhat impacted the economies of this two nations that trickles world wide. But with the current epidemic like this and reports surfacing that other countries are already affected, might be. But as far as crypto goes, there could be some positive impact as they say, as bitcoin could be used a leverage in this kind of situation.

The People's Bank of China is responsible for this $173.81 Billion, and it is said that it is injected, but not printed [1] (https://www.reuters.com/article/us-china-markets-rates/china-central-bank-unexpectedly-cuts-reverse-repo-rates-to-help-economy-as-virus-spreads-idUSKBN1ZX05X). Does it automatically connote to the part where they print money with that? I don't think so. It's with reverse bond repurchase agreements. They did this because of the current situation in China, which is the Corona Virus; they need a short-term raise in the capital for their country to possibly fight against this situation. [2] (https://www.investopedia.com/terms/r/reverserepurchaseagreement.asp) This is not panic printing but liquidating to have more room for research to fight this disease.

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[1] - https://www.reuters.com/article/us-china-markets-rates/china-central-bank-unexpectedly-cuts-reverse-repo-rates-to-help-economy-as-virus-spreads-idUSKBN1ZX05X
[2] - https://www.investopedia.com/terms/r/reverserepurchaseagreement.asp

@crwth thanks for the links.

Yes, they ease their monetary policy as a precautionary step to overcome a decline in demand (and productivity) as well. I'm afraid that this virus seems more severe than the initial thought. However, this virus hasn't been declared an epidemic as far as I know, and let's hope it won't.

Scientists say it will become pandemic soon though :(
https://www.businessinsider.nl/wuhan-coronavirus-pandemic-what-that-means-epidemic-difference-2020-2?international=true&r=US

It has been cleared up above that they're not printing money in this case, but it's inaccurate to say they're not printing money:


As for the virus' impact, at least on China's economy:


One more thing to note is that people are scrambling to find a vaccine, and that one is even ready for testing (https://fortune.com/2020/02/03/coronavirus-vaccine-testing-in-china/). It's easy to get lost in all the negativity, but with people starting to be aware (how to protect against it, what it really does, etc.), fewer people are going to be infected, and the outbreak is going to slow down. It's hard to believe that it's going to go on completely unchecked, and that's basically the only way it can have long-lasting impact to the economy.

It basically does mean they are printing money. The reverse repo operations temporarily create money out of thin air, much like the Fed engaging in QE. Injecting 1.2 trillion yuan of cash into commercial banks only requires moving some numbers on a balance sheet. The central bank also instituted rate cuts, which is essentially another form of money printing: https://www.scmp.com/economy/china-economy/article/3048676/chinas-rate-cuts-response-coronavirus-too-marginal-help

If shit hits the fan and commercial banks start collapsing anyway, the securities underlying those reverse repo operations won't be bought back. It's all a big mirage. Everybody is just hoping that everyone else retains faith in the system.


It's not about fighting the disease. The PBOC is doing the same thing the Fed was doing in 2008 in order to prevent a banking liquidity crisis where banks stop lending to each other and other businesses. If that were to happen, the entire economy could grind to a halt and basically collapse.

China is only about to print the number of yuan they would actually need to stop contamination of the virus. So far, only china is greatly affected by the corona virus but yet there are few other countries which also are showing persons infected with corona virus. This might show us how fastly corona virus can spread and in no time, it could even spread globally making huge loss of human resources.

There should be some medium to stop this from happening as even there is no actual medicine available for this virus to stop from spreading which makes it more harmful that ever. China is the country responsible for the outcome of this virus and perhaps they should solve this on their own.

I believe that China has been 'injecting' money into its own economy for its efforts to fight the virus and whatnot, though that doesn't necessarily mean that they are not printing money on the side. While it may have short-term negative effects on their own economy, knowing how China's capability to outgrow any demands on its products, they can keep up. Then again, at the current state of things, countries are rejecting goods from China on the fear that it might have taken some of the virus on its journey. Even though the virus can only last long for 12 hours max without a host, other countries are still trying to get extra cautious and not risk anything.

The virus may have impaired some of the manufacturing industries that rely on China but as soon as the virus is controlled and quarantined, the economy would surely keep up and be stable once more.

How could you just prove that china is printing 1.2 Trillion Yuan with just a 3 line post with no evidence? Each country has their own reserve bank which has the ability to print the currency notes but the process is quite lengthy. There needs a lot of permissions in order to start printing currency notes but in case of china, china is already facing rough times due to the corona virus.

Nearly 500 people are already dead due to the corona virus whereas 500+ are yet infected and struggling to recover from the most fetal virus. There might be a need to stop this infection so that not much people come under their threat and hence china might be needed some huge funds in order to stop the contamination by spreading some antidote through the medium or air, water or food.

Using cash will only spread virus. For Chinese is now much better to use Bitcoin and keep your wallet cash viruses free.

What makes no sense is the fact that China could print as much money as they want but as long as they can't manufacture and sell stuff all around the world and mainly to Japan and USA, they will not survive this.

Of course, corona will not continue forever and eventually it will all blow over and companies will continue to work with China in the near future, however up until that moment if the big ones start to move their operations in somewhere else, it will literally be the end of Chinese power that they have worked so far.

Do not forget that China is not the only country where USA or Japan or any other nation can just build factories and have cheap labor, there are tons of Asian and even African countries that will offer cheap labor just like China and when one companies switches to those nations, they are not coming back.

Completely off initial subject but given all the countries in the world which is the most financially sound and in order?

So how is "injecting" money into their own economy going to help fight corona virus? Printing money to help fight corona virus also makes no sense at all. How come you are saying printing money is going to have short term negative effect? If this keeps on going on, it is going to affect Chinas economy very badly in the long run. Look at those countries that have printed insane amount of money. See how messed up their economy is.
Haven't heard anywhere that goods from China are being rejected.

I know banknotes are usually full of germs and microbes, but do you really think they contribute that much to the spreading of the virus? By using Bitcoin they'd still pay for physical stuff, so whatever you do you still end up with something physically existing in your hands in exchange for physical/digital money.


It's not the most fatal virus. At least not yet. We've seen pandemics worse than corona and this one is so hyped..


Packages sent to Romania have been suspended a day ago due to the virus. I'm talking about the Romanian Post, not sure what about the other logistic companies.

Their economy is already very badly affected.. and will most likely take a pretty long route to recover from what happened. Injecting more money is a way they tried to help with the situation in Wuhan and all the other quarantined areas. It affects their economy on both the short and long terms.

Do you all think that the Corona Virus has spread more than what they tell us in the news?

In my opinion, China is regrettably the wall that prevents Bitcoin from advancing and even the other crypto due to there is connection between BTC and most of them. And OP there is no evidence for the printing of money in China, the media is full of fake and trival  information to be honest, stop believing them otherwise  they will probably affect you negatively. Fortunately, despite all of these issues Bitcoin is still moving but in a silent way.

Well in another post I was wondering how China seems to be in some cases so anti bitcoin but they are usually the top mining pools in the world. What do you make out of that?

I haven't been watching the stock market for a while now and wasn't aware the Dow had dropped 500 points--but in terms of percentage, I don't think that's a whole lot.  Nor do I think this media-hyped corona virus is responsible for that or whatever it is China is doing with the money printing.  How many of these viral outbreaks have we seen make the news?  They all have turned out to be much less deadly than the media would have you believe, and I'm pretty sure this current virus isn't wrecking the global economy--or even affecting it to an appreciable extent.

That's the difference between the government and its citizens.  It's not China's government that's mining bitcoin; it's the people.

Right but you know how "Big Red" likes to do it. The people work for the greater good of the commune, or something like that.

China having an anti-Bitcoin stance is all about preserving the status quo especially when their Government are somewhat threatened by this emerging technology since the ruling party wants to hold on to their power as long as they can. Imho.

China is an antibitcoin country because they have communist type of government. They don't want their people to become rich, they don't want their people to overcome their poverty. They want to prove that government is the superior and not the people so the people don't have the rights to literally own anything. That's why they want to create their own cryptocurrency and not adopt the typical and know cryptocurrency around the world. They want to isolate their country in a global economy so they create their own source of money. As they control their people, they can also manipulate the cryptocurrency to directly go to the government asset and people only receive salary and not the crypto. So unfair to their market.

I have a different view on printing money and having a reverse repo. If you really understood the concept of RRP, then you know that it's not out of thin air and there are securities to be considered where it will become a kind of collateral. The difference would be the imputed interest with it, and that would be computed when the seller decides to finally buy again the securities (collateral) with a higher price.

If you print money, it would have a different impact on the economy, but with RRP, the money is existing already, you just have to find the Buyer where there is an excess amount of cash.

That could be a part of it, knowing that the impact is worldwide. I just haven't thought about the financial side of things, knowing that I want the coronavirus to be analyzed and be neutralized, find a cure for it.

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Is the solution always about money?

Don't forget that the virus can be easily made into a scapegoat if it comes to that

In line with this conspiracy theory, it could also be claimed that the virus was created specifically to deal with the impending economic doom and gloom. So the PBOC went even further than the Fed back then, and if the Chinese economy fails and collapses, they have already invented something to blame and at ready. Did anyone look at this situation from such an angle or only deep conspirologists like myself can see the connection here?   

The difference between its citizens and the government is not as wide as other nations in China. Basically because they are governed by a dictatorship right now which means any person who lives there and dislikes the government is not really in full freedom, they can't do whatever they want without worrying about government.

Miners are doing what they are doing with the officials permission, if one day Chinese government comes up and says all miners will be banned and jailed, we will see zero miners because all the government would have to do is go to those mining facilities and shut it off, that's it. The only reason China both dislikes bitcoin and likes bitcoin at the same time is, they dislike it when other nations make ICO and get money from Chinese and fails so Chinese money goes out but never comes back in but like it when Chinese do something and bring money into china.

You are stating the definition of a repurchase agreement, which I accept, but you are ignoring the implicit effects they have on money supply.  


In the case of central bank repurchase agreements, does the money exist already? That's actually the disputed point. The New York Fed explains it this way: (https://www.newyorkfed.org/aboutthefed/fedpoint/fed04.html)


Wikipedia is slightly more specific: (https://en.wikipedia.org/wiki/Open_market_operation)

Funny thing is, Dow Jones has already recovered from that 500 point dip and it's even higher than it was before it, even though it went a little bit down just recently. Just google Dow Jones and see for yourself, Google provides very convenient charts right on their page.

I think it shows that the markets don't move like amateur traders often predict, just because it sounds logical (event X causes price to move up/down because reasons) it doesn't mean that it's correct. Professional analysts don't think "oh shit this coronavirus thing will crash the markets", they do research about the possible impact of such event, they select some assumptions, they do some heavy calculations, they might consult with some specialists, like biologists in this case, and only then they draw conclusions.

If China is really printing money,they would most likely keep that a secret.Nobody wants big inflation in China right now.By the way,the People's Bank of China has big reserves or dollars,US government bonds and gold.
Those reserves can cover the value of newly printed Yuans.There's no need to spread panic.Everything is under control in Asia.The corona virus will slowly fade away with the upcoming spring.

right, the calamity that is happening in China today is only for a moment, like the case of the old sars. although this disrupts the Chinese economy, but I think when the disaster ends they will still rise quickly, such as when building a hospital specifically corona. clear that China will not lose the market for its products.

China has one of the most strongest economy in the world. And I'm sure that they are against printing money on the side.

they already have experience when exposed to sars so that those who have many assets in cryptocurrency are not too panicked so that the economic movement is still normal and does not have a bad show, whereas if development matters then the country of China does have an advantage because they are able to employ many people to be able to solve a projects quickly and their infrastructure is also very sophisticated so it's easier to do that.

This would never affect us. China is printing money to save the outbreak of corona virus and medical emergency is what makes the Chinese government to print 1.2 Trillion yuan. We can see a depict in the economy of china which would also affect the GDP of china and might need couple of years in order to stabilize their economy.

Usually this is the case due to the outbreak of the deadliest virus and any country who might have suffered from such kind of virus might have to start printing some notes in order to help the victims. Citizens are much worried and also most have quit their jobs just to be safe from the outbreak and in this situation, china would need a strong financial background in order to help recover from this virus.

why the heck will they print out more money when i think the spending of the people were greatly reduced due to this virus but it stil up to them to print money because printing money is a normal doing  . now your asking whats next ? well i think there will be available vaccines for this virus and the outbreak will stop like what happen to other severe viruses before  . this event does not affect everything and we arent really in trouble so dont worry too much if you are far away from china  .

China has a huge market which includes a number of commodities. Mostly they export their products in 80% of the nations in much cheaper rate and that is what makes each of the country find some benefits from the Chinese products. China is a huge nation with top population count. This corona virus has made some people lose their lives but we already are in a modern era where each illness has a medicine.

Although, there would be some cure for corona virus and maybe that is what making china print some currency in order to find a medicine for corona virus and once they succeed, they would start cherishing the markets and also they would quickly improve their economy.

You can be sure of 2 things in life and that is death and taxes, but I want to add another one, which will be government manipulation of their local economy. We saw what governments have done with bailouts when the Banks nearly caused a global financial crisis and we will continue seeing governments using tactics to keep markets from collapsing.

The Chinese government have to find additional money to fight this virus and the affect that it is having on their local economy and a sure thing will be to jump into bonds and also to use tax payers money.

We might not like it, but it is emergency measures to save lives, so we should actually welcome it. I applaud them for reacting this quickly and being able to build a massive hospital in 10 days.  :o

If China would be printing money they won't need other nations to put in funds for them , even if they print a lot of money it will be their country's economy which will go down , not the one of other nations.
It would be problematic for China therefore , I do think they will think about everything before doing something drastic that would affect their market.
Also Future is good trust me since government is not helping those sectors , bitcoins is the one providing jobs for people. . giving them an alternative .

If so, China is not only anti-bitcoin but also anti-WhatsApp, youtube, Facebook, Twitter, Amazon, and Gmail. China has its own application version ;D. I see China is a country that is truly sovereign because it has bargaining power and is brave for anti-mainstream.

Theoretically or idealistically, a government or a state with a communist ideology actually always teaches the justice system and equitable distribution of welfare and justice to all its people with the ideal, build a classless society with the concept of equal, equal taste and put forward and teaches the importance of providing welfare, justice, and safety social.

For the cryptocurrency problem, not only the Chinese government is scared but the majority of countries have a uniform view of bitcoin and want to create their own version of cryptocurrency or Stablecoin. The key to understanding it is simple, independence is better than dependency. Moreover, China which was originally known as a copycat country has now turned into a developed country with its modification expertise. China is a country that also dares to challenge American domination.

I think maybe we will have a problem if Coronavirus will affect many peoples from China. But well crypto will still survive somehow.

Short term wise, injections like these are quite common when it comes to combating a potential downturn in the economy.

So even though I don't think that this news is confirmed yet, there is every possibility that this is true.

I doubt that this type of aggressive monetary easing will have a significant impact on the crypto markets in the short term at least. It is long term fiat inflation that will push crypto prices up in the long run, at least in nominal terms.

I think China doesn't have to really anti bitcoin at all because we know that they still allow people mining bitcoin. Maybe they have another reason why they do that, and because we don't know what is happening in China and what they plan, we don't have to think more about that. We will see it later once they announce the next news about allowing bitcoin or anti bitcoin or else. All of the questions will be the answer at the right time, and we don't have to guess for more while we can use the time for our own good.

Hype around this  virus could cause real recession, unfortuntely. Too many supply chains are already damaged

I agree with you. In any case, China will take any measures to stop this crisis; otherwise, China may receive enormous damage on all fronts, from the economic level to a decrease in the level of power in the country. If China can print 1.2 trillion yuan, then it will. In addition, we do not know all the information; only official data is provided to us. Perhaps the situation in China is much worse than it is shown in official media.

China was originally a country that is good at copying and duplicating, now China is a country that is good at making modifications. Some conspiracy theories assume that China's strategy with the One Belt One Road program and long-term infrastructure funding is a cover prepared by China to explore other countries as well as to open jobs for Chinese citizens and also foster the development of industry and manufacturing in China.

China prints money based on projects. We analogy as follows, China has two currencies, let's just say red currency and blue currency. Red currency is used domestically and the blue currency is used abroad or when dealing with other countries. Let's just say that incessantly China offers long-term investment in a country that requires that the raw materials for work and workers start from the workers and the technology must all be from China.

When the project is approved, China will print as much red currency as the project's value. channeled to manufacturers in China to produce project raw materials which will then be exported to the country where the project is running, as well as the Chinese workforce. When this happens, it is as if the development in a country is running because of a project, even though the majority of the money still revolves in China only, because paying the salaries of Chinese employees must be in red currency.

When the project is completed and the Chinese government accepts the return of the project loan not in the form of red currency but in the form of dollars to be converted into blue currency, any value that enters from the project then the red money will be destroyed.

Any project in China, although sometimes less important, still has the support of the central bank and the government because the project ensures that money stays spinning and the economy continues.

The reason for the plummet of Dow Jones is the European travel ban, and I think that China isn't "panic printing" money. They are trying to recirculate money to replace quarantined currency so yeah you got that wrong.

Link for the reason of Dow Jones drop in market: https://www.barrons.com/articles/coronavirus-update-6700-new-cases-diagnosed-outside-china-world-health-organization-pandemic-51584045281

The World Health Organization suggested the use of digital money to make payments and in this way decrease physical contact either through tickets or between people. The fall of the markets has also impacted the world of cryptocurrencies, but the WHO's decision could be an incentive for the use of cryptocurrencies and an increase in their price.
Regarding the Corona Virus, I think that the initial impact has been very strong, but surely over the days people will adapt and the activity will normalize. Sadly, China censured the doctors who set off the alarms and wasted valuable time, and the overcrowding in this country helped the virus spread more quickly.
I am optimistic about the future, we must remain calm and stay alert to recommendations such as washing our hands permanently and avoiding attending meetings or places where there is a lot of crowds, consuming hot drinks and above all maintaining optimism because I am sure that in a short time the viruas will be defeated and the markets will recover.

right, the situation in China that actually nobody knows exactly if we only follow from the news. but I think anything will be done by China to restore their economy after a few months of decline. and the main thing to do is that this virus must be dealt with immediately, so that either printing money or using crypto can be decided

The crypto market in the future may be very good The condition of the market is much worse now because of this coronavirus But I do not think that if the coronavirus affects many people in China, it will not be a problem because crypto does not control anyone and a country can never control crypto. In that case China has no reason to finance printing.

We are not in trouble, the crypto market is not attached with the centralized system, in fact I believe we are the future as online money is the future and not only that, crypto is decentralized and a good store of value for your money, provided you know how to do it with proper timing.

In every government like China, they can print countless of paper money as they are in control they are centralized, right, but one thing I expect to happen in the future, the economy will be stable again and crypto adoption will continue to grow.

Well I'm looking differently in this printing of money by China. They have been into some set back because of the corona virus and I think they need to pump in money into fighting it before they lose all their people. Health issue is serious business and it needs to be fought with money and plus repairs of other economic damages.

The Chinese are very cunning. On the one hand, they prudently pretend that they are distance from bitcoin and cryptocurrencies, on the other hand, cryptocurrencies are not prohibited in China, and they are leaders among bitcoin miners. What does that mean? And the fact that at the right time, China may be the first to accept Bitcoin by playing cards so that this will give advantages to China and its economy.

For some reason, it seems to me that, unlike our officials, Chinese officials are not enemies of their people and their state.  while in other states governments artificially create inflation by printing new money, thereby making their citizens poorer, in China things are a little different.  Based on this, the Chinese government is only remotely located at a distance from bitcoin, but their policy will not contradict the use of cryptocurrencies as a means of payment and the recognition of Bitcoin as a digital asset.

What? Are you sure that China is now in the stage of printing money? Do you have any proof that can convince us that china is panic printing of money? When we relate in the real situation, we already know that the country of China is the epicenter of the coronavirus so that there are so much people are infected. Printing money this time is not an effective way, because as we can see the fiat currency is one of the way in spreading virus by just passing it with other people. So that it is not the time for panic printing of money. The most effective way is to use digital money and not physical money, using digital money will also prevent the virus in spreading it instead of physical money.

I am sure not only China but almost all countries will print money for the efficiency of corona pandemic mitigation and overcome the economic recession that occurred after the corona pandemic ended. America, Japan, and even China are countries that use money printing strategies to support their country's economic development.

Printing money in China uses a strategy. Printing money with an underlying project, the project must be layered and all use raw materials, domestic workers and none of them are imported. The goal is money to spin at home and the economy in China continues to spin. This can be seen why China has two currencies namely Yuan and Renminbi. OBOR/BRI is a grand strategy so that China always has a project so that manufacturing continues to move and its workforce is absorbed, while the fuel is in renminbi printing so that the dollar enters China.

I just hope some of that money comes to us, think about a huge Chinese money influx into the bitcoin sphere, that would mean trillions of dollars in increase, not totally from china because they would put probably some billions into bitcoin and not trillions but the increase would mean the price could increase bitcoin market cap into trillions as well, when you buy from 6-7k and make the price go over 20k, you spend billions but the marketcap becomes trillion and that is what we really need right now.

However I doubt we will somehow get that, we will probably get at most a billion dollars and probably not even that from china, they are not really too much into decentralization considering they are a dictatorship, hopefully they will change their minds one day.

They banned their banks from offering services to bitcoin companies because they were afraid of too much capital leaving the country. It's normal for communist countries who want to control their economies. The Soviet Union had similar policies towards the West. Buying the Dollar was prohibited and people were street trading because they could not register a legit exchange business. China will not change in a year or two. It will take decades.

Naturally, if China exerted strict control over its economy because of the economic side of the many vulnerabilities possessed by China with a jumbo population. that is :

- The number of mouths to be fed is large
- Dependence on imports of energy, coal, petroleum, gas, and uranium
- Money printing habits

Apart from being a communist country, the fundamental reason for the government, communist parties, and state-owned companies to exercise strict control over the economy is that the printing money policy has an effective impact on the availability of jobs for the Chinese people which means that the money printed must revolve at home alone not to be allowed to leave China. The project may be outside of China, but the renamed must keep turning in China.

Concerning the cryptocurrency policy, China's concern is that if the printed money runs to unproductive and speculative sectors, an economic bubble will surely occur and will affect the entire Chinese grand strategy going forward.

The result is simple, there will be on market more money than the gold who gives the value of it. As much i understand from some time rich people started to buy gold so probably this entire situation goes in a wrong direction.

China become most respond country how to make bitcoin going on at the future, always what did by China will give big effect for bitcoin like when bitcoin banned in China price suddenly down, but when have good news can guarantee to make bitcoin on the top price and get positive respond.

It's not only china who printed money during the pandemic, the US as well.

this article - https://www.washingtonpost.com/business/2020/04/05/what-2-trillion-coronavirus-bailout-is-really-going-cost/
is worth to read.

anyway, these are fiat, it's not related to crypto but we are just living under the management of our respective government, so as the economy is affected, it would also affected the standard of living of the people, but I hope investors sees that our economy will struggle and they will put up some investment in crypto.

Printing more money to solve financial crisis will lead to inflation in the long run. The money been printed has no access backing it up just legislative laws. If people that receive the government stimulus package from printing more money don't put their money in a valuable asset like Gold, Silver, and bitcoin, they will blow up the money in a few years or months depending on how conservative they are. This generation may experience hyperinflation if there are no strong policies to control this printed money. 

USA technically didn't printed money, it was more like an easing and it is basically allowing companies to get cheaper loans so that they can pay their debt with a bigger debt but at least the interest rate will be lower, it is smarter to have one 100 million dollar debt with a very very very tiny interest rate or even no interest rate at all, then have 10 different 10 million dollar debts with variety of interests that is higher.

Even on the article itself it explains it very well by saying "To get the money promised to businesses, households, hospitals and local governments, the Treasury will have to borrow it over the coming months by selling IOUs of various duration to investors in the Treasury bond market." so as you can see it is not really printing money for USA.