Key Takeaways:
- Musk’s Claims: Elon Musk alleges that 14 “magic money computers” within U.S. federal agencies can create money without oversight, leading to financial inconsistencies.
- Bitcoin Response: Bitcoin advocate Jameson Lopp responded to Musk’s remarks, suggesting Bitcoin as a solution to government-driven monetary inefficiencies.
- Financial Mismanagement: Musk highlighted wasteful government spending, including excessive media subscriptions and mistaken payments, attributing 80% to incompetence rather than fraud.
Elon Musk, speaking on Verdict with Ted Cruz on March 17, claimed that at least 14 “magic money computers” within the U.S. government can create money out of thin air.
He alleged that these systems, found in agencies like the Treasury, Defense, and Health and Human Services, issue payments without proper oversight, leading to discrepancies in financial records of 5-10%.
An absolute bombshell from @elonmusk on the latest episode of Verdict.
— Ted Cruz (@tedcruz) March 17, 2025
He reveals there are 14 magic money computers in the federal government that send money out of nothing.
Don’t miss the latest episode of Verdict wherever you get your podcasts. Subscribe now!… pic.twitter.com/1tnJmJtiw9
Musk criticized the lack of synchronization between government financial systems, stating that they do not accurately track where funds go.
Bitcoin advocate Jameson Lopp responded by suggesting that Bitcoin, with its fixed supply, could serve as a solution to government-driven inflation and currency devaluation.
Bitcoin fixes this.https://t.co/1gUJmRHkgh
— Jameson Lopp (@lopp) March 17, 2025
Musk also highlighted widespread financial mismanagement in federal agencies, citing excessive subscriptions, credit cards, and mistaken payments to companies that were not asked to return funds.
He estimated that 80% of these issues stem from waste and incompetence rather than fraud.
His scrutiny of financial waste has sparked backlash.
Some Tesla facilities in the U.S. have reportedly been vandalized as part of the “Take Down Tesla” movement, protesting cost-cutting measures linked to Musk’s focus on financial efficiency and cryptocurrency advocacy.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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