Is COVID-19 an excuse for governments & central banks to print money?

[bitbunnny]

I don't think there is an excuse for printing money, not even due to COVID crisis. Printing money never save any economy, just brought even bigger problems on a long term basis.
The advantage for EU countries is that they available special recovery and resilience funds that they can use under certain conditions and thus help their people and economies. I think that will be a great deal of help.

[Ridcan]

this disease has created an opportunity for some industries.  just like the mask, cleaning, disinfectant sectors.  However, we must use this time as a springboard.  We need to introduce digital currencies and cryptocurrencies to our environment.

[Mauser]

I don't think there is an excuse for printing money, not even due to COVID crisis. Printing money never save any economy, just brought even bigger problems on a long term basis.
The advantage for EU countries is that they available special recovery and resilience funds that they can use under certain conditions and thus help their people and economies. I think that will be a great deal of help.

Printing money was happening for a long time already before the corona pandemic. The inflation rate in Europe and other developed nations is below 2% for the last 5 years, so printing money is the first attempt to increase inflation. The corona pandemic just increased the magnitude of such financial operations. I don't think the Special Recovery fund of the EU is an advantage, it's spreading more debt across many countries which should not be the case.

[Vishnu.Reang]

Printing money was happening for a long time already before the corona pandemic. The inflation rate in Europe and other developed nations is below 2% for the last 5 years, so printing money is the first attempt to increase inflation. The corona pandemic just increased the magnitude of such financial operations. I don't think the Special Recovery fund of the EU is an advantage, it's spreading more debt across many countries which should not be the case.

During the last decade, socialist governments were replaced by centrist or center-right governments across the globe. This phenomena was most visible in Europe and the Americas. But now the situation is changing once again, and we have socialists coming back to power in a number of nations (including the United States). That would naturally mean that the era of low inflation is officially over.

[Sanitough]

It's not an excuse because covid-19 really do exist, if that is the intention then other countries are doing the same.

Not every country are printing money though, I think it was only USA are doing that, correct me if I'm wrong because I just read that US did that and there was a lot of speculation about it which will bring negative effect to their economy.

Every country has struggle on covid-19, so I think we should not speculate that things, unless you don't trust your government anymore.

[oHnK]

Not every country are printing money though, I think it was only USA are doing that, correct me if I'm wrong because I just read that US did that and there was a lot of speculation about it which will bring negative effect to their economy.

It is not only the US that prints money but my country too, during the pandemic there was a lot of assistance provided by the government as a social safety net but the National Budget was unable to hold it back so the government had to print money to meet the needs during this pandemic.  Indeed, this policy is quite risky, if it is not implemented properly it will become a bigger national economic disaster.  My country itself has had a bad experience with printing money in crisis conditions and even doing sanering to secure the national economy, but that is not enough and even creates new problems.

[redsun114]

Printing money would only work for big business and governments are usually run by the big business world as well with how they bribe politicians. The reason for this is simple, there is a finite amount of money available in the market, if companies keep growing in profit that means you are taking money from regular people and putting it into business' and eventually these companies will have all the money in the world.

Time to time you print some new money, give most of it to companies so they would stay happy and also give a bit of it to regular people like you and me so that we could spend it on the big companies and keep them growing at a steady rate. So, printing money is not for making the world a better place, it is to allow companies to keep growing and growing.

[atjiat]

Printing money would only work for big business and governments are usually run by the big business world as well with how they bribe politicians. The reason for this is simple, there is a finite amount of money available in the market, if companies keep growing in profit that means you are taking money from regular people and putting it into business' and eventually these companies will have all the money in the world.

Time to time you print some new money, give most of it to companies so they would stay happy and also give a bit of it to regular people like you and me so that we could spend it on the big companies and keep them growing at a steady rate. So, printing money is not for making the world a better place, it is to allow companies to keep growing and growing.

Almost every government in different countries makes an official statement for their people that the release of new amounts of money is aimed at saving the economy in order to give business a real opportunity to survive. And they try to calm down their citizens in various ways. But no one explains the fact that the emergence of new volumes of money in circulation, automatic, many times reduces the value of national currencies and inflation eats up almost all savings and raises prices.

[tbterryboy]

I do not believe that Covid19 is an excuse for governments to print money. The pandemic caught them off guard. The global health system needs more work and innovation. I think the responsible entities are outdated. If we already know that global banking shows disadvantages before the advancement of cryptography.
In terms of health, I have not heard any progress before the Covid19 appeared. So I think the virus is not an excuse. Guys, virus outbreaks are worrisome. Keep safe.

Yeah, people are playing the blame game basically.

If lockdowns are implemented, people criticize government and question them how people will earn ad survive which although is a legit query but there is no way the government knows the answer or can solve it.

If lockdowns are not implemented, the same people will again play victim card and bash the government to open shops when the virus is already spreading so quickly and new waves of virus are coming every now and then.

So, honestly I feel the government are as flummoxed as we are and it requires efforts from both sides not just the government or not just the common man.

[mezzaluna]

It would possible for them to use this as an legitimate excuse since people are being pushed into a more digitized stage of life. Some officials are scared of using physical money because there is the risk of passing on the virus which is really alarming. Some establishments are already creating ways on how to sanitize their money so the virus would not be passed thru usage of money. If they are using it to damage the economy, its also effective since they got a reason but they should not be scared since there are possible ways to print money and sanitize money properly.

[mindrust]

I heard yesterday that Biden is now pushing for a $7trillion QE. LoL that's insane. They are trying so hard to trigger the great reset and make USD completely worthless.

They were already printing before covid and now they have all the excuses they need. Mega QE to infinity.

[Smartprofit]

I do not believe in the existence of a conspiracy.  The global financial system has reached a dead end in its development.  Governments and central banks themselves don't know what to do.

At the same time, we see that the pandemic leads to the following results:

1) People stop traveling

2) There is a restriction of the rights and freedoms of people

3) The standard of living is falling

4) The role of the virtual space (Internet) for work and entertainment is increasing.

Is this happening as a result of a conspiracy?  I think not.  Covid-19 is a real and deadly virus.  

However, this is a good reason for solving old problems (environmental, economic, social).

The world has become more humane - people are not killed, but their freedom of movement is limited.  Previously, in such situations, world wars began and crushed people with tank tracks.

[gantez]

They were already printing before covid and now they have all the excuses they need. Mega QE to infinity.

It is an excuse that has opened for the government to do whatever printing they want in excess and make it on account of covid-19. They keep making out figures of infested covid-19 patients in the second move of infection and now the vaccine is being produced, reading for distribution. Maybe the excuse will be over soon.