Peter Schiff: Printing Money Won’t Cure The Cornavirus

In his most recent podcast, Peter Schiff talked about coronavirus and the impact that the outbreak is having on the markets. Schiff says that aggressive money printing will not stop or cure the coronavirus.

Earlier this month, Peter said he thought the virus was just an excuse for stock market woes. At the time he believed the market was poised to fall anyway. But as it turns out, coronavirus has actually helped the US stock market because it has led central banks to pump even more liquidity into the world financial system.

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All this means more liquidity — central banks easing. In fact, that is exactly what has already happened, except the new easing is taking place, for now, outside the United States, particularly in China.”

Listen to Schiff’s entire podcast below:

In fact, if central bankers were really going to do the right thing, the appropriate response would be to drain liquidity from the markets, not supply even more.

Peter explained how the Fed was originally intended to create an “elastic” money supply that would expand or contract along with economic output. Today, the money supply only goes in one direction — that’s up.

The economy is strong, print money. The economy is weak, print even more money.

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This article has been contributed by SHTF Plan. Visit www.SHTFplan.com for alternative news, commentary and preparedness info.