US authorities cost-cutting csar Elon Musk claims to have discovered at the least 14 “magic cash computer systems” within the federal authorities with the power to ship cash from nothing.
Musk mentioned the computer systems, which exist in a number of federal departments, together with the Treasury, Protection and Well being and Human Providers departments, can primarily subject payments and send money from nothing.
“You might suppose that the federal government computer systems all discuss to one another, they’re synchronized, they add up what funds are going the place, and it’s coherent and that the numbers you’re introduced as a senator are the actual numbers,” Musk said in a March 17 episode of Senator Ted Cruz’s podcast Verdict with Ted Cruz.
An absolute bombshell from @elonmusk on the most recent episode of Verdict.
He reveals there are 14 magic cash computer systems within the federal authorities that ship cash out of nothing.
Don’t miss the most recent episode of Verdict wherever you get your podcasts. Subscribe now!… pic.twitter.com/1tnJmJtiw9
— Ted Cruz (@tedcruz) March 17, 2025
Nevertheless, Musk mentioned this isn’t the case.
“They’re not completely incorrect, however they’re in all probability off by 5% or 10% in some instances. So I name it ‘magic cash pc’ — any pc that may make cash out of skinny air. That’s magic cash.”
Jameson Lopp, the chief safety officer at Bitcoin (BTC) custody firm Casa, said within the video feedback that “Bitcoin fixes this.”
Bitcoin advocates have lengthy touted the cryptocurrency’s skill to hedge towards forex devaluation, as Bitcoin’s provide is capped at 21 million cash, whereas fiat provide can improve with extra “printing.”
Supply: Jameson Lopp
Associated: DOGE proposes slashing Internal Revenue Service staff by 20%
Musk says his newest DOGE efforts have additionally uncovered that US authorities departments have extra media, software program subscriptions, and bank cards than they do individuals working there — in some instances, as much as double.
Nevertheless, he thinks 80% of instances are waste and incompetence slightly than a malicious scheme as a result of, in some situations, corporations are being despatched cash by mistake. Then no one from the federal government is asking for the cash again.
“We noticed lots of funds going out of Treasury that had no cost code and no rationalization for the cost, after which we’re making an attempt to determine what that cost is,” Musk mentioned.
“Then we see that, okay, that contract was alleged to be shut off, however somebody forgot to close off that contract, and so the corporate saved getting cash. Now, is that waste or fraud?”
Musk’s different business ventures have suffered attributable to his DOGE work. Tesla services across the US have been vandalized as a part of a broader “Take down Tesla” motion protesting DOGE’s cost-cutting measures.
Journal: Elon Musk’s plan to run government on blockchain faces uphill battle
