Kitco, Commentary by Philip Streible:
While the Coronavirus talks are being swept under the rug in a great WHO coverup, I believe that mainstream media is avoiding coverage on purpose in order to maintain order. Looking back at SARS in 2003 the number of cases was just over 8,000 and directly impacted the global markets. During the SARS episode we saw a massive hit to first quarter GDP in China and Emerging Markets. I would expect nothing more than the same results with the Coronavirus but with ten times the number of cases. Some of the latest headline updates are that Delta Airlines is suspending all China flights through April 30th and Starbucks has closed 2000 stores.
This economic impact will push Central Banks around the globe deeper into their quantitative easing ways. Remember in the past 12 months Central Banks have collectively cut interest rates over 80 times and with rates near rock bottom, they will have to use other methods to support their economies.
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