Elon Musk’s federal cost-cutting program has exposed fourteen government “magic money computers” that have “blank check authority” and “make money out of thin air,” according to the DOGE head.
“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 a conversation on the Verdict podcast. “They just send money out of nothing.”
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The computers identified by Musk’s Department of Government Efficiency, or DOGE, exist at multiple agencies, Musk added, pointing to the U.S. Treasury Department, U.S. Department of Health and Human Services, U.S. Department of State, and U.S. Department of Defense.
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Musk claimed his team has found 14 computers with blank-check authority at the federal government, and suggested that they routinely send trillions of dollars to keep Washington up and running.
While Musk’s fixation on government spending has been brewing for months, his latest comments on the government’s payment powers alarmed the Bitcoin community who have long viewed it as a hedge against currency degradation.
In 2013, the term “magic internet money” became popularized within Bitcoin’s community after a Reddit user created a viral ad using the slogan.