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

[aesma]

First of all not all countries are doing the same thing. Here in Europe plenty of money goes in the hands of ordinary people, replacing their salaries. The money that goes to big companies is also to pay for salaries.

Central banks prop up the stock market and in the US that has meant it has gone up, but not elsewhere.

So if something is broken it's in the US, not an universal truth.

[plast555]

There are many theories and conperenices for this all but in fact its really true because most of governments have no options other then this and they are using this few corrupt countries are already in deep trouble due to this all but they are printing money inflation is going high which is another trouble for common peoples prices are rising in developed countries they have better solutions and solving these all wisely but developing countries are going more down even many are facing some other serious troubles as well which can bring them in more serious troubles.

[bryant.coleman]

Whether there is any truth in these conspiracy theories or not is another thing. But the truth is that Trump lost his re-election solely due to this pandemic. Look at the margins. Even after so many deaths as a result of COVID 19, he received more than 70 million votes and lost the crucial swing states such as Arizona, Wisconsin and Pennsylvania by less than 1% of the votes.

And there is also some suggestions that there was manipulation and if there is any truth in those news than actually the 1% can go in either way and might flip the whole election result.

Trump was not the best leader they have but he was competent and while strict and sometimes funny like he said "Chinese virus" which was mocked later on and trolled but his actions were always good. There are people who play the role of a villain which Trump was playing but their actions and decision making is impeccable. Just because he is a big mouth doesn't mean he was incompetent.

The media was constantly attacking him. A recent study found that more than 92% of the coverage related to Trump in network news channels was "negative". But it can't be denied that the economy grew by leaps and bounds during this term. The economic growth can be attributed to Trump's decision to reduce the taxes (something which Joe Biden has promised to reverse, once he takes charge).

[TheGreatPython]

You do know that there are better ways that they can do this without looking like a**holes? I am not sure about this and whether this coronavirus has been started by the government or it’s something that just came out by itself, but any government that is planning to put people under another lockdown because of this covid19 is just asking for trouble.

I don’t know for people in other countries, but people in my country are already having enough of it, and they are not ready to go for another lockdown because of this coronavirus of a thing. And if the government should insist, they are going to retaliate, because they are fed up and can’t stay indoors and die of hunger especially when the government is not showing any support.

[HabBear]

Wait...Governments need an excuse to print money??!! I think this is your answer. They don't need a pandemic to justify printing money because the People don't get to decide. They print money whenever they want and for whatever reason they want.

I don't agree with you that the Government is using this pandemic to maliciously advance their "conspiracy" agenda. You give the Government too much credit. What you're seeing is Governments - men and women - that really don't know how to handle a pandemic. So they're proposing or implementing different ideas that they think will work...some do and some don't.

- destroy money; because bacteria
- contact tracing/tracing apps
- digital ID's/central bank digital currencies

Which country is destroying money due to bacteria?

The contract tracing apps I've seen are very open in the privacy they provide using randomized tokens and declare that history is only maintained for 14 days...so they declare they aren't tracking your whereabouts by name and government ID number and into perpetuity. Frankly, most phones have tracing software that already exists to find a phone when it is stolen or if someone goes missing. They didn't need COVID for that to exist.

And currency has existed in digital format for decades (since the 1980s)...so that's not a new development.

Bottom line is, if you don't like the amount of data being collected on your online activities you should minimize your time online, period.

and yes...

Thank god we have a lifeboat - Bitcoin!

...this all the way! ^^^

[NeilLostBitCoin]

I don't see it as an excuse because this will have a adverse effects on the economy for a long time. I don't think any government want anything that will downturn it economic performance in any way.

Yes people think it that way, without realizing if all banks or country can print out many money why they are not doing it? They even can't think that maybe it could affect the process, the value and the economy, not because we can't see the disadvantage of it, we may conclude that it is normal.

[MCobian]

It is true that COVID-19 is the main reason the government and central banks decide to do a lot of printing money. If the government
does not print money, it will be very difficult to recover the economy quickly, even though the risks faced will also be large. It is very
likely that hyperinflation will occur if the government continues to print money, this will make the fiat currency value even lower.
We as the cryptocurrency community are lucky to get to know Bitcoin, which has been proven to save our wealth from inflation.

[FlightyPouch]

I don't see it as an excuse because this will have a adverse effects on the economy for a long time. I don't think any government want anything that will downturn it economic performance in any way.

That might be true but maybe some don't care what will happen in the incoming years, they can just do something about it when it comes. What matters is that they have a lot of money they can get from those and if the situation was better, they can just fix what they did while retaining that huge amount of money in their pockets. Win-win situation.

[Zanab247]

Yes, covid-19 has collapsed so many country economy that is making the government to use the opportunity to assist the citizens to grow their businesses and also to end hardship in the country. During the pandemic many currencies lose value because of the virus, that was spreading all  over the country causing some investors not to invest just because the way the virus is killing some investors in the community.
Since the government came to discover that covid-19 really destroyed in the country and the only way to restore the economy back to normal,is to demand for more money to be print from central bank to tackle all the things corona virus has destroyed  in the country.

[Christabel247]

Many countries really experience hardship during the pandemic that is still affecting the country economy and other business activities in the country. Government need to print more money to end the hardship in the country because many citizens find it difficult to grow their businesses and other things in the country.
I think with this more money print the government has issued to Central bank to print more money to handle the hardship in the country will help the country to come out strong.

This true because my in country, many businesses has folded and most factory was short down because of the covid-19 and there was funds, many died of hunger strike.

[DrG]

Yes, covid-19 has collapsed so many country economy that is making the government to use the opportunity to assist the citizens to grow their businesses and also to end hardship in the country. During the pandemic many currencies lose value because of the virus, that was spreading all  over the country causing some investors not to invest just because the way the virus is killing some investors in the community.
Since the government came to discover that covid-19 really destroyed in the country and the only way to restore the economy back to normal,is to demand for more money to be print from central bank to tackle all the things corona virus has destroyed  in the country.

You posted the same nonsense a few days earlier. If you have a pizza and cut it into 8 pieces - 8 people can eat. If you cut it into 12 pieces you can still only feed 8 people, albeit more "slices". Printing money doesn't provide more economic output - especially when the output is the citizen actually going to the store everyday and making an item or putting out a service. Keeping them at home doesn't increase GDP.

The only reason for printing is that it goes straight to the bank rolls of the government and allows them to pay for social services which would otherwise be impossible with a balanced budget. Anybody based in reality knows it's all largess and governments are spending more than they take in simply because they're filled with corruption and inefficiency. All the printed money does is make people think the government is helping them. In reality the price of a slice of pizza goes up because the money is less meaningful. It just dilutes the value of the paper. How about that Venezuela economy with its useless paper money...

[Stedsm]

Yes, it is not an excuse exactly but they've made it the reason to manipulate the minds of people and make them believe that they're going to help them with the funds being printed in the dark (I mean, who the hell knows how much they're exactly printing as they must have a temporary game in their minds for the time being). They are just showing what they want to show, but nothing can be known what's cooking behind the scenes and this disease is a perfect reason to make a fool of their citizens for a long time. Their stimulus is just a small term favor (still it didn't help Trump to remain in power). 

[verita1]

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.

[Majharul Saiif]

I also think so. It is just an excuse. I also believe government need money to operate the operations in smoothly. But printing money in this time is needed and also an excuse too. Because government has their own reserve and also some country already faced economic issues. So it depends on country which need they have in the current times.

[Wawa2013]

Whatever the government's reasons for printing money, it still has a bad effect. The government should look for other solutions
to restore the economy, if not, what happened to Venezuela could also be experienced by other countries. Therefore, printing
money should be the last option to restore the economy. I believe the government actually has other alternatives, but because
in the government there were many corrupt politicians, the end result was that the government continued to print money.

[Zanab247]

Many souls has been wasted by the virus called covid-19 which came to the world in the month of March that is harding the government to find the vaccine to cure those who are isolation center. Government is do everything possible to make sure the economy is be fix back, to start working in the country as usual. More money to be print for the government to assist those who where affected by the corona virus in the country.

[qwertyup23]

I won't call it as an excuse- but as a necessity on their part. Printing money would bring tremendous inflation in the country and the economy will speak for itself. Since most services and businesses are down, the government needs to implement a way to increase cash flow and liquidity- thus, printing money. But this must be control in a level that will not detriment the economy which can result to hyperinflation.

I don't see it as an excuse because this will have a adverse effects on the economy for a long time. I don't think any government want anything that will downturn it economic performance in any way.

The goal of the government especially in the pandemic is to increase cashflow and liquidity due to inactivity caused by closure of businesses. There are several methods of increasing cashflow but printing money would only cause hyperinflation if not properly monitored.

[barbara44]

Many souls has been wasted by the virus called covid-19 which came to the world in the month of March that is harding the government to find the vaccine to cure those who are isolation center. Government is do everything possible to make sure the economy is be fix back, to start working in the country as usual. More money to be print for the government to assist those who where affected by the corona virus in the country.

There is no doubt that corona virus changed how we see the world and how across country trades will happen in future will be changed forever but the topic we are discussing here is how government have used this pandemic to hide their economic disasters and exaggerate the influence of corona virus such that people feel like they are suffering all because of the virus while the truth is the government was already making it worse even without the pandemic.

One good example is how Chinese government tacked the situation, the virus spread started from there but now look at their economy they have recovered so nicely so if they have been able to control things why others have failed? That is because they got a good excuse to hide their economic disasters behind the pandemic.

[bryant.coleman]

The goal of the government especially in the pandemic is to increase cashflow and liquidity due to inactivity caused by closure of businesses. There are several methods of increasing cashflow but printing money would only cause hyperinflation if not properly monitored.

That depends on a lot of factors. Central banks all around the world prints money and there is nothing special about it. Only in some extreme cases, we get to witness hyperinflation. If the central bank is able to maintain a stable exchange rate, then it doesn't matter. What happened in countries such as Venezuela is that the exchange rate was not maintained and this resulted in the national currency losing its value.

[noorman0]

Printing new money will not fix a bad economic situation, it will cause hyperinflation. It is necessary to look at the history of how the Zimbabwe currency became worthless after being printed massively to cover the budget deficit.
People do not need more fiat money in circulation because it does not have an impact, but they need more secure income to support their daily needs.