Elon Musk, a billionaire who is known for his cost-cutting efforts within the U.S. Government, has allegedly identified computers which can print an unlimited amount of cash. podcast Published on Monday
“I call a ‘magic money computer’ any computer which can just make money out of thin air,” Musk told Sen. Ted Cruz (R-TX) during the "Verdict" podcast sit-down. “They send money out from nowhere.”
Musk identified the computers that he used Department of Government EfficiencMusk pointed out that the DOGE is present at several agencies including U.S. Treasury Departments, U.S. Department of Health and Human Services and U.S. Department of State.
Musk claims that his team found 14 federal computers which have the authority to write blank checks. He also suggested they regularly send trillions of dollar for Washington’s upkeep.
Musk has been fixated on government spending since months. However, his recent comments about the payment power of government alarmed. Bitcoin Many fans have been using it for years as a way to protect themselves against currency devaluation.
A Reddit user’s viral advertisement using “magic money” popularized the phrase in 2013 within the Bitcoin community. Taproot Wizards, a company that sells t-shirts featuring the meme’s crudely drawn character as its mascot, has adopted it. Collectibles based on Bitcoin.
Bitcoin has been equated with money printing because of its portrayal as an asset store. Bitcoiners tend to believe that governments can print unlimited amounts of money, but Bitcoin will only ever have 21 million BTC, due to its software.
Larry Fink, CEO of BlackRock and a prominent Wall Street figure has echoed this sentiment. In January, Fink was one of the most influential figures on Wall Street. The following are some of the ways to get in touch with each other Bitcoin appeals investors afraid that their local currency will be devalued by government spending. Bitcoin is described as “a currency based on fear”
Musk’s attempt to reduce costs has led to Fear of recessionParticipants in the market are now assessing how job cuts at federal agencies could affect consumer spending and economic growth. But the DOGE has come under scrutiny for its purported budget cuts.
As news publications have identified errors in DOGE's savings claims, the cost-cutting team has progressively made data posted to the DOGE website—where DogecoinThe logo for’s has been recently updated Add to Cart Immediately after, Removed—harder to decipher, according to The New York Times.
Musk says DOGE “will act quickly to correct mistakes.” However, recent claims of savings have relied on less information in order to identify which contracts were purportedly cut.
Musk took issue with the government’s spending procedures in the podcast published on Monday, but he acknowledged the magic machines are “not totally wrong” in terms of how much money is being spent compared to what's reported. He claimed the machines were “probably” off by as much as 10% on some occasions in regards to how they spent money.
James Rubin, Editor
