US authorities cost-cutting csar Elon Musk claims to have discovered no less than 14 “magic cash computer systems” within the federal authorities with the flexibility to ship cash from nothing.
Musk stated the computer systems, which exist in a number of federal departments, together with the Treasury, Protection and Well being and Human Companies departments, can primarily subject funds and ship cash from nothing.
“Chances are you’ll assume 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 true numbers,” Musk stated 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 stated 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 laptop’ — any laptop that may generate profits out of skinny air. That’s magic cash.”
Jameson Lopp, the chief safety officer at Bitcoin (BTC) custody firm Casa, stated within the video feedback that “Bitcoin fixes this.”
Bitcoin advocates have lengthy touted the cryptocurrency’s skill to hedge in opposition to foreign money devaluation, as Bitcoin’s provide is capped at 21 million cash, whereas fiat provide can enhance with extra “printing.”
Supply: Jameson Lopp
Associated: DOGE proposes slashing Inside Income Service workers 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 folks working there — in some instances, as much as double.
Nevertheless, he thinks 80% of instances are waste and incompetence somewhat 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 numerous funds going out of Treasury that had no cost code and no clarification for the cost, after which we’re attempting to determine what that cost is,” Musk stated.
“Then we see that, okay, that contract was purported to be shut off, however somebody forgot to close off that contract, and so the corporate stored getting cash. Now, is that waste or fraud?”
Musk’s different enterprise ventures have suffered as a consequence of his DOGE work. Tesla amenities 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 authorities on blockchain faces uphill battle
