Bitcoin Forum

From the GoldSilver youtube channel featuring Mike Maloney and guest Chris Martenson.

Part 1 CoronaVirus: Devastating Economic Consequences To Come:

https://www.youtube.com/watch?v=oIeHqjC_wsg

Part 2 Could Coronavirus Trigger the Monetary Reset?:

https://www.youtube.com/watch?v=HSNK4MlHqwA

Part 3 Coronavirus Update: IT'S NOT THE FLU!:

https://www.youtube.com/watch?v=6COVaMgHAd0


....


The main issue with corona virus in terms of finance/economics is a massive proportion of global production and supply chains being heavily centralized within china, the epicenter of the disaster. There have been calls to decentralize and rely on china less for global productive capacity to prevent similar incidents in the future. I wouldn't expect a full recovery until after we pass peak crisis. That would appear to be a long way off.

The virus itself remains an unknown variable. It has been described as a cross between SARS and AIDs/HIV due to it attacking lungs and immune system in a similar fashion to both illnesses. The problem with global pandemics is it only takes a single person to infect 9 billion people. It is similar to a zombie apocalypse where a single infected can go on to infect another. Then those two zombies can infect two more. It can theoretically attain exponential growth: 1, 2, 4, 8, 16, 32, 64, 128, 256, 512, 1024 and on and on.

From the spanish flu we know these infections can come in waves spanning years. It could literally be years before life returns to some semblance of normality.

I'm not kidding myself. I 100% expect to have the virus at some point. Unless it mutates to a point where it no longer infects people before I come across it. Which doesn't appear likely looking at how things are going in italy and nations nearer to the epicenter in china.

Thankfully it won't affect cryptocurrency as much as it may other traditional financial institutions like banks. Some countries are burning their cash for fear of currency being contaminated with the virus. Banks may be forced to close as workers become sick. Hopefully crypto mining is automated enough along with vendors and retailers in the crypto industry for crypto to not be as affected.

And a few minutes ago it was declared as pandemic officially by the World Health Organization.What if billion people got infected by this virus in real soon because it is spreading on the rate.Whole world will be in a mess,yes as well as financially. :-X

It has been so declared and most countries have been taking further step to burn their cash.
I hope that the health sectors of the world finds the solution to this epidemic that seem to be spreading to different region. I hope something is done soon.

He makes a good point in the second video at the 5 to 6 minute marks. We are already seeing the start of this with big central banks like the Fed and the Bank of England cutting interest rates. The next step, as he says, is more quantitative easing and currency printing. In the scenario of there being collapsing supply chains, reduced production, reduced manufacturing, the lack of money isn't the issue - it's the lack of goods to buy. More money for fewer goods and services can only lead to rampant fiat inflation.

It won't take years for life to return to normal, but the virus will likely be around for years to come. There are some models which predict a second wave in the winter (northern hemisphere) months, which will be worse than the first wave which is already underway or hitting in the next few weeks, depending on where you live. There is also the possibility that this virus enters the pool of normal human virus along with things like rhinovirus, influenza, and other less serious coronaviruses, and is something which we have to deal with at low levels for ever.

That's not how mutations work. The virus isn't a single entity. If one case somewhere mutated to infect a different species (for example), there are still over a hundred thousand cases around the world still infecting humans.

It doesn't have to work like that.
The 2009 pandemic culprit, A/H1N1 who is a relative of the deadlier Spanish flu virus also disappeared just like it after a year.
Till now the family of the covid19 has acted the same, like mers and sars.

So, based on assumptions it's highly probable once contained it will simply stop and we're going to get rid of it.

But the economic effects are going to be felt for quite a long time.
Around here everything is getting canceled, people are stopping going out, interest in tourism is dying, and we're nowhere near the situation in Italy.
Add the oil war on top of this f* situation and it's not going to be pretty.


It depends...probably there will be fewer goods as factories shut down and the chains are affected but at the same time, demand is going down.
People staying in their homes scared of the virus won't rush to buy new cars, remember this: China car sales plummet 80 percent (https://nypost.com/2020/03/04/china-car-sales-plummet-80-percent-amid-coronavirus-crisis/)

Right now I think we're actually experiencing the opposite, nobody to use the services as malls and hotels and restaurants are empty.

Doesn't have to, but it might. There are several coronaviruses, such as OC43, which cause the common cold and are in widespread circulation. There's no telling if this virus might also enter seasonal circulation yet.

I don't know where you are, but this is going to become more commonplace throughout the world, and to a more severe degree as time goes on. Most countries are on the exact same trajectory of cases as Italy, but with a lag time of one to two weeks.

Unfortunately, when things will return to normal everyone will quickly forget about it and will keep acting like nothing happened and ignoring the fact that China is in many ways a threat to modern society. Some businesses wouldn't survive if they were forced to cut ties with China, others are too greedy to do so. I've heard that China is becoming too expensive and that some other countries are starting to take its role as cheap manufacturer, so maybe there's a chance that during the next Chinese outbreak the economy won't suffer so much.

if researchers still haven't found a vaccine for this virus, in the next month it is possible that crypto will also be affected due to economic crises that hit in several countries, including in my country many basic ingredients for factory products are obtained from China.
if it continues then there will be no more products and many workers will be laid off from work, which could trigger a global economic crisis, including crypto.

I am expecting the spread of the virus to become worse in the coming weeks or even months but I don't think it will take one full year before an antidote is formulated to stop it. But before it happens, the economy, both domestically and globally, is already shaken. Well, it has already been disrupted to a significant extent by the mere fact that it hit certain provinces in China hard enough. And yes, I agree, a good portion of the world's production of goods is too reliant on China. There is no balance. Hence, a global economic effect was immediately felt as soon as China was locked down.


Seriously? Are you based in Italy? I don't think one is easily infected for as long as he/she is observing proper hygiene, maintains strong immune system, and does social distancing. Wearing mask and avoiding the crowd would also help a lot.

By the way, just a quick update. Hours ago, the Italian government orders all shops, restaurants, bars, and other commercial establishments closed. Such drastic measure is called for during drastic times. Another domestic economy crippled down due to the virus.

https://time.com/5801497/italy-shops-restaurants-coronavirus/
https://www.theguardian.com/world/2020/mar/11/italy-faces-calls-to-close-everything-to-tackle-coronavirus

Yeah,but China is recovering from the virus.There are lots of positive news about more people cured,and less people infected.Life goes back to normal in China.I don't trust this info 100%,maybe a portion of it is propaganda coming from the communist party in China.However,there might be some true.
The supply chains will recover faster than you think.We can't beat China in terms of cheap production costs.People and companies in the western world will always want cheaper products.China still has the competitive advantage of cheap labor and cheap electricity.

It's true that Bitcoin and the rest of the crypto market has and will continue to feel the impact of this virus but I'm still thinking that it's overblown to some extent, and there is the same fear I see affecting everyone -- Bitcoin is not safe, not because it's vulnerable to market fears but because in general, this is an overarching event that will affect human life as we know it. So all the things we care about take a backseat.

That said, I agree the virus comes in waves, and we've already seen it actually. If you lived in Europe then the flu epidemics are common (and on bigger magnitude). In the Netherlands for example, the flu epidemic of 2018/19 caused about 3,900 deaths. Govt said this was 2900 more than it should have been and was the deadliest week on record for the country since the World War. You can reference here: https://www.rivm.nl/sites/default/files/2019-09/TG_123539_011592_Griep_cijfers_A4_EN.pdf

And I'm telling you, a lot of countries in the region get an ANNUAL flu epidemic come winter.

And loads more people get infected and die.

And the level of mass panic is nowhere near COVID because the media doesn't play it up.

I still think COVID is overblown, but it's good that people are sitting up to take notice. It took SARS for people to do that over a decade ago. Maybe we'll be more responsible in the future during regular flu epidemics.

I believe that since everyone would possibly be affected, it would receive equal amounts of impact with that because people who may be supporting cryptocurrency and tries to hold the price would get out and use their crypto for expenses. Even if it's automated, sooner or later, when there are no more people to monitor the mining farm, it could produce errors, and we could have a hard time with that. There is also a large portion of cryptocurrency mining in China, so there could be an effect as well.

Right now, I think what we could do is not panic and do proper hygiene.

Yea, when a crisis happens, people would store their wealth in gold, and spend the rest to fill their bunker. The price of goods would go up, and speculative assets would go down. It's happening right now, look at the crypto price.

However, no need to panic since this event is similar to the avian influenza outbreak. The situation would be difficult, but not like apocalypse when riot is everywhere. It's just like winter, and we shall live past it. #WinterIsComing

Central Europe, really really central   ;)
But most of my family and relatives live in the north part scattered from Poland to Denmark to Belgium.
And from everywhere bad news...Easter is one month away and a cousin is scared that from huge profits during this period with his hotel he is going to total loss, some are working at home and are still don't feel it and others are worse than all, there are discussions of lay-off.

The only good news is from my parent's farm if we would have right now 1000 tonnes of meat we could sell it in seconds, they have been twice or thrice called by almost all the chain stores and meat processing units, demand is skyrocketing.


Yeah, it's already happening..
At least when it comes to clothes you'll find more made in Japan than in China around here, everything is from Bangladesh, India, and Vietnam.
Same with cheap plastic things and toys, I've seen a wave from SE Asia, the stuffed bears I've bought for my kid lately were from Vietnam, and when it comes to small electronic things I've seen lots of cables, chargers sticks made in Turkey and Poland fewer and fewer in PRC.

I don't believe china, south korea or any nation practicing open borders is recovering as they claim. Russia with its closed border is doing ok. With open borders nations, its difficult to believe reactionary methods alone such as testing can produce tangible positive effects. For a different perspective, sources claiming china is faking its corona virus recovery:

https://www.dailymail.co.uk/news/article-8086057/Chinese-business-leaders-leave-lights-work-fake-countrys-recovery-coronavirus.html

https://news.yahoo.com/chinas-coronavirus-recovery-fake-whistleblowers-191300391.html




Its been said corona virus is being treated with anti HIV/AIDs medication.

If its similar enough to AIDs in structure and biology that it can be successfully treated with the same medication. I wonder if it might be a exaggeration to say there never will be an effective vaccine for corona. For the same reasons we have no vaccine for AIDs/HIV.





If the virus is as contagious as advertised. I expect to get it eventually due to how much higher population density is in 2020 in contrast to say the spanish flu in the early 1900s. Similar reasons also factor in. Isolationism appears to be the best policy. In many ways, we're less equipped to utilize this strategy. In comparison to those in the early 1900s who were far more prone towards being self sufficient living in independent farms and communities.




I was reading Steve Wozniak of apple fame's twitter page.

https://twitter.com/stevewoz

He seems to indicate he currently has corona in march 2020. And that he had it in january 2020. I hope he never gets it again. In terms of worst case scenarios, it seems possible to contract the virus every other month for who knows how long.




I read a news story claiming a 2nd strain of corona virus was found, indicating it was mutating. The way I see it, there are two main possibilities for explaining why plagues and epidemics come to an end. The first possibility is substantial improvement in the treatment or prevention of infection. The second is the virus mutating to a point where its no longer as infectious.

With global pandemics like the spanish flu, I don't think there was a substantial improvement in treatment or prevention of infection at the tail end of it. Which could indicate the virus simply mutated into a benign or less infectious form.

Are you sure about that? To me it seems that cryptocurrencies are acting exactly like stocks and are treated the same by people. People are selling all investmenst and turning it all into money because they think they might need money in case of emergency.

In their simple minds they see themselves running away from the flu and buying fuel and food along the way. Maybe they'll need money to bribe someone. They prefer to have something that can be spent fast.

Well, the probability to be infected is a lot higher today than it could have been in the past decades. That is one of the effects of having a cramped world. That is why I found it a bit funny when our government declared social distancing as a must. It is highly recommended that everybody should be more than a meter apart from each other to keep everyone safe in case somebody is a carrier of the highly infectious virus. The problem is that the huge majority of the population is using the terribly insufficient public transportation causing the riding public to squeeze themselves into the tiniest spaces in order to get a ride.

Just last night, the capital region in my country is declared to be locked down in the next few weeks to contain the spread of the virus. Now, the lockdown has to be partial because the region, the most populated one all over the country, has to eat and the food supply is coming from the outside.

I don't know where we are headed right now. I have also heard of people getting the virus from unknown sources. I guess the virus is much more widespread than it is being portrayed.


The virus makes everything similar. There is no more non-correlated asset in these trying times. Everything is being put to their knees. The sell off is now extended to almost everything, and that includes cryptocurrency. We are now losing almost 50% of Bitcoin's value in less than 24 hours.

I really doubt it is only with China that the markets are getting this bad. Surely that is one of the biggest reasons there is but that doesn't mean it is the only reason neither. Right now USA literally closed their borders to Europe and not getting any people from Europe to back for example. Do you really think that wouldn't have absolutely zero affects on economy? No way it would get away that easily. Basically trades are generally getting closed both in an out and that means everything that is produced in one nation will be sold in that nation and all the import and export all around the world is getting hurt by this corona.

I remember all the other virus outbreaks as well but this seems to take the cake when it comes to fear of people for some reason.

I can understand why stocks and commodity prices are dropping, because companies are closing and production are going down, but why should this virus have such a huge influence on the Bitcoin price? We do not have large industries closing their doors and the mining hardware manufacturers are still producing and the hash rate is still climbing.  ::)

There are not even large Institutional investments being done on major trading platforms for Bitcoin trades to take such a massive hit? Most investors are private individuals and professional traders trading with their own capital.  ???

The only logical explanation are that people are liquidating their Bitcoin investments to stock up on facial masks and survival gear.  ::) ::) ::)  I think we should buy stocks in those companies now, because they are booming now!!

It was said the virus can survive for 3 days on surfaces. Overnight or 2nd day air freight could be potential paths of infection. It could be difficult to stem the tide of pandemic in a world where we've become very reliant upon global commerce and trade. Shipping lanes alone could spread the virus to every corner of the earth.




I think its 100% market manipulation that both US stocks and bitcoin are crashing the way they are.

There is perhaps evidence for it.

Not certain if I should comment. No doubt many people know what happened. But I don't see anyone discussing it. And so I won't mention it, either. Unless someone asks.

On a superficial level, an observer might take note of how US stocks continued to edge higher even as news of corona virus in china broke. Almost as if the goal were to deliberately overvalue US stocks in order to drop the market from a greater height with the end goal of creating a more spectacular crash and more demoralized bear market in the aftermath.

There aren't many parties in the world with the raw liquidity and capital necessary to orchestrate the type of market manipulation we see in the crash and in some bitcoin crashes as well. I think people may eventually figure it out. Even if they do not know the answer today.

In the present, China is now successful in fighting the virus and they are already recovering from it that infected a lot of people. Hence, this might be the end of the idea that mass adoption of Crypto currency is occurring as countries quarantining fiats. Well, even before, the price of Bitcoin is still on the dump even with fiats being burned to avoid infections when it is being used.

We could say that: even with no direct relation the Corona virus, it still affected the standing of Bitcoin as the massive dump occurred but, I hope it will gradually recover as the virus will be cured in the future.

I am not convinced china is successfully fighting the virus better than anyone else in the world as they claim. A case could be made for both singapore and russia being far more successful than china in regard to stemming the tide of infection. Economic issues relating to the pandemic revolve around a large percentage of global supply chains being heavily centralized within china's borders. Slowdown in china leads to a chain reaction where factories all over the world, lack raw materials and parts they rely upon china to produce.

Everyone will know china has successfully contained its contagion when supply lines begin to churn out steady production. Until then, I think its premature to assume china has its issue contained. Don't forget china has resorted to constructing entire ghost cities which could house more than 1 billion people in an effort to artificially prop up its GDP statistics. Misinformation and outright lies are a large part of china's standard policy.

That's what we believe but I must say we over reaction about the effect. In my mind the effect can make chaos in few weeks and government take reaction with the economy, that's too far. There's opinion that Corona become black sheep to cover something big and many analysis about it that we call politic. I think we should take care our self, let government do their job and keep do your activity by on line, life keep running.

If the significant drop of new cases are to be considered, china has somehow responded to it well. Aside from that, the numbers are also saying that new deaths are also decreasing and healed ones are rising. So that's basically reflective of what the country has done. It helped that the country is a totalitarian one and has enough money. Drastic rules are implemented fully without even the slightest dissent, criticism, or resistant. There were sacrifices made, for sure. It also helped in expediting almost everything that is necessary, from the creation of new hospitals in just a few days to the implementation of full quarantines and total lockdowns. 

But the effect of it was global, not just in terms of the spread of the virus but also in terms of the economy. Even if the situation in china is getting better, the rest of the world is not.

These are both important points, and these two reasons are why we shouldn't be comparing western countries to China, or looking at China for what to expect in the coming weeks or months.

China actively suppressed information about the disease and about the severity of the disease for many weeks, and actively prosecuted doctors who spoke out about it online. It's not exactly a giant leap to expect that they are also suppressing information about their true number of cases and deaths.

China implemented a very severe isolation policy, which western countries haven't even come close to. Even if you compare to Italy, which currently has the most severe and restrictive quarantine policy in the west, it's still nowhere near as restrictive or as strict as that of China. Meanwhile, the US is still throwing St Patrick Day's parties.

 You know it's not just the products but stupid people roaming around like crazy , traveling to the countries where the virus is very widespread.
It was people who caused the spread of virus in other countries, because of their small brains .
One might have just stayed at home but no everyone has to go outside , so much that now government is thinking of imposing penalty over people like that.
China should have taken measures right from the beginning to have controlled the virus right there , but no even the doctor who told people about the upcoming pandemic was shunned by the authorities ,it's just plain neglect and the economy and people are facing the ill effects.

The problem right now is that it is not the market's fault but the people, they are pulling out their stocks and that cause for a dip in the market, the good thing about this is that most of the cryptocurrency is not suffering but they are flourishing, we can see the result when this crisis is over.

I really don't think China is the model for this.
First, I don't believe one word from them, a province next to Hubei with 80 million people and only 600 infections and 2 deaths?
Yeah, what's next, Santa Claus is making a vaccine?
 
But what they did with all their measures was just as efficient of what South Korea did. And they have fewer dead, they had fewer cases and with a far more relaxed overall atmosphere, no tanks, and machineguns and drones.

Either way, they are opening productions, they are having workers back at work..
And Europe and the US are under lockdown with people not buying much else than the food, thinking about their saving their jobs...
We will soon an unbalance in millions of products nobody is interested in and people spending less, at the same time money printing, man this is going to end up like a total shitstorm, not really the spring I imagined.

Tourism is gone and it will be for some time even after travel restrictions will be eased. Countries like Italy and Spain heavily affected, first because of the quarantines and travel restrictions, second because of the stigma that they will keep having even after the crisis has passed.


Wall Street whales are liquidating their crypto to cover for their stock losses

Oh, for sure. They are definitely suppressing their numbers, which I explained in my post. But that doesn't change the fact their lockdown was far more swift and far more restrictive than anything we have seen in the west.

Largely because they locked things down so quickly. It's going to be months now before we are at the stage of getting back to normal because we waited too long to act. Even now there are still offices, schools, bars, restaurants, etc., still running.

The most amount of money printing we have ever seen, with the Fed committing to unlimited QE. More money, fewer goods, less spending. It can only lead to hyperinflation.

Unfortunately, in some countries they are not very worried about their citizens and are not really trying to protect their country from an epidemic.  Officially, the government always speaks correctly and talks about its actions and plans for the future, but the situation is completely different.  The number of patients is therefore distorted, and doctors still do not have the proper individual protection against the virus.  In addition, large enterprises continue to work, in which 400 people work in one shift.

There are two possibilities that the government or country will not be afraid of the covid-19 pandemic.

They believe they already have a good health security system and are integrated with the biosecurity agency so that they are confident that when a pandemic occurs, their country is ready to box the virus so it does not spread.

Its leader has the view that covid-19 doesn't kill. What's deadly is if the economy isn't spinning. The President of Brazil and the President of America are the leaders that we want to see that covid-19 is an ordinary pandemic even though in fact it is not deadly but the spread is very fast because this virus has been modified (enrichment virus).

Bolsonaro and Trump assume that the corona pandemic is a natural selection where people who have high competitive power will survive and the weak will be eliminated. In the economic framework, those who cannot afford treatment are the poor and homeless people who in their minds are a burden to the state.

The decision and even Trump's suggestion to open a place of worship before Easter is an anti-extreme decision. America is great with its free-market which is synonymous with high competitiveness. This principle is held by trump. In line with Trump Bolsorano believes that deaths due to co-19 are commonplace and are seen as human destiny.

But looking at the facts that have taken place over the past few days, many contradictory trump opinions, Trump's social extension of distancing until April 30 means that the target of April 12 as a day when Americans "pack the bench" for Easter Sunday service fails.

Also on Tuesday Trump announced that he was warning Americans to prepare for a "two bad weeks" with projections that there would be 100,000 to 240,000 deaths from the corona pandemic. Hopefully, this change in Trump's long corner is true for humanitarian reasons, not as a diversion to the issue of economic resetting.

I have voiced my concern over the over dependent on China for manufacture and supply, and regrettably my nation is foolishly sold out to China instead of decentralizing her importation and producing theirs too. This would have spelled doom for my country should China had remained locked down for many months without a possible end game. Every continent should some designated manufacturing hub.

Oh god, again with the decentralization magic pill?
What you're proposing two lines below is the exact opposite of decentralization, you want continental hubs for manufacturing, that's centralization!


And who is going to pay for that?
One of the directors of a farmaceutical company here said it bluntly when people asked why they haven't produced masks!

Because previously none of us were buying, it's easy to say let's have a strategic reserve of manufacturing gear, but WHO is going to pay for?
Right now if you ask people to enter an agreement that they should purchase at least 10 masks a year to sustain the national industry everybody will cheer, In two years everyone will say f&^& you and your mask, why are you forcing me to pay for that!


Seem like the reopening is failing even across China
https://www.theguardian.com/world/2020/mar/31/china-gets-mixed-results-in-its-attempt-to-lift-lockdown

Their entire propaganda in motion and it's not enough, people are scared, probably they don't trust the government at all and I'm sure they are asking themselves how is it possible that the rest of the world has thousands of casualties and entire provinces bigger than Spain and Italy only a few.

Anyhow, the situation in is grim around Europe and it's getting worse by the day
Constructions are slowing to a standstill, tourism is dead, consumption is down, car sales are down, Continental is shutting down another plant, Toyota is shutting down... I'm out of self-isolation and into a different level of quarantine, the worst spring I saw in a decade.

The Coronavirus will definitely give us a negative impact on the economy. Everything that we have advanced so far in the field of technology, we must use it to restore the disaster that will leave Covid19.
If before Covid19 the economy was weakened now more than ever, we must reform our forces for the great work that awaits us in the near future.

The Coronavirus has threatened the economy of every country It will take a long time to overcome it But it won't last very long Everyone is trying to cure it. But the best overview of the coroner virus effect in finance and the economy I have seen so far and people are living a much better life It should stand beside helpless people for control.

Not to mention that all medical equipment has an expiry date. No one is going to buy masks they may never use and just have to throw away two years later because they are no longer effective.

This is going to be commonplace in the coming weeks, I think. Until we have either a vaccine or significant levels of herd immunity, several hundred people gathering in a small area is always going to be a risk, and it only takes one infected person (even with no symptoms) to kick off another cluster of cases.

That article says about a company gathering all its employees together and telling them all to remove their masks. How stupid can you get? There's ending the quarantine and then there's just beening needlessly reckless.

where i live we have fires, so having several n95 respirators in the emergency kit is considered standard anyway.

we should at least be able to prevent shortages within the healthcare system during pandemics. that seems pretty basic. maybe there's a way the government could act as a supplier to hospitals, selling from and refilling a national stockpile to mitigate the shelf life limitations.

n95 masks normally cost hospitals 50-60 cents a pop and otherwise have a 3 year shelf life. the federal government could probably get them cheaper. surgical masks cost a fraction of that. back of the envelope math says we could have a billion strong mask stockpile for maybe $100 million/year. if something like the above plan were implemented, it could be closer to $300 million flat with minimal upkeep. compared to $6 trillion stimulus plans, it pales in comparison. :D

This is generally what happens in other countries. The US is pretty unique in the ridiculous situation we are currently in where different states are having to bid against other states to buy FFP3 masks and other PPE from suppliers. All this does is line the pockets of the manufacturers and put frontline health staff at unnecessary risk.

Agreed, but there is more to consider than just masks. We need FFP3 masks, we need water resistant surgical masks, we need visors, face shields, gowns, gloves, hats, suits, shoe covers, hoods and head covers, air purifier pumps, etc. We need more hand sanitizer, more oxygen deliveries, more oxygen concentrators, more oxygen cylinders, more ventilators, more CPAP machines, more soda lime, more filters, more ventilator tubing, more drugs, more drug pumps, etc. Some of this stock could be rotated and used in general day-to-day healthcare, but not all, and all of these things (minus the mechanical machines) have an expiry date. It would still pale in comparison to the amount of money printing going on, but there is no way any government anywhere in the world would be happy to spend all this money every 3 years or so to be prepared for something which may never happen.