Elon Musk stumbles across 14 “magic money computers” in the US government
The head of President Trump’s DOGE initiative has claimed to have found some mysterious accounting.
Elon Musk has been a near-constant presence in the early months of President Donald Trump’s second term in office. Instated as the head of the controversial Department of Government Efficiency (DOGE), Musk has been on a ruthless quest to cut federal spending.
So far the world’s richest man has reduced the workforce in federal agencies, cut government spending and demanded that employees provide reasons why they shouldn’t be let go. In recent days, however, Trump has suggested that Musk may soon be moving on.
For now at least, Musk’s work remains headline-grabbing and he delivered more intrigue during a conversation with Republican Sen. Ted Cruz on a recent podcast appearance. Musk claimed that, during the course of his work with DOGE, he had discovered “magic money computers” at the Department of Treasury and other government agencies.
“I think we found now 14 magic money computers,” Musk said. “They just send money out of nothing.” He added: “Any computer which can just make money out of thin air... that’s magic money.”
Was Musk right?
In the podcast conversation Musk did not go into details about the actual nature of the ‘magic money computers’. The comments were made in the context of a broader conversation about government waste and fraud but Musk was at pains to suggest that something untoward was happening.
“If it was a public company, it would be delisted immediately,” Musk claimed. “It would fail its audit, and the officers of the company would be imprisoned.”
However financial experts have offered an explanation. Despite Musk’s unease at the government ‘making money out of thin air’, that’s exactly what sovereign governments are able to do and it’s been a key part of the global economy for decades.
Since the US left the gold standard in 1971, there is much greater flexibility on how the government can issue new currency. Although it’s nothing unusual, there are of course dangers associated with the issuance of new money. As more money floods into the financial system it has a devaluing effect on the money already in circulation, essentially causing inflation and worsening conditions for consumers.
Get your game on! Whether you’re into NFL touchdowns, NBA buzzer-beaters, world-class soccer goals, or MLB home runs, our app has it all.
Dive into live coverage, expert insights, breaking news, exclusive videos, and more – plus, stay updated on the latest in current affairs and entertainment. Download now for all-access coverage, right at your fingertips – anytime, anywhere.
Complete your personal details to comment
Your opinion will be published with first and last names