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Elon Musk, head of the Department of Government Efficiency (DOGE), revealed the existence of 14 "magic money computers" within U.S. federal agencies that can print money without coordination, highlighting issues of waste and fraud in fiat currency. He noted discrepancies of up to 10% among these systems, which have facilitated trillions in undisclosed payments. Musk aims to analyze government computer systems to address inefficiencies, estimating an 80% waste and 20% fraud ratio in the departments he oversees.
Elon Musk, during an interview with Senator Ted Cruz, labeled government spending on nonprofits as "maybe the biggest scam of all time," citing a lack of oversight and lavish salaries for nonprofit leaders. He criticized the misuse of funds, referencing a $1.9 billion allocation to Stacey Abrams. As head of the Department of Government Efficiency, Musk aims to cut federal spending, claiming $55 billion in savings so far through various measures.
Elon Musk has praised tech leaders Larry Ellison, Jeff Bezos, and Larry Page as some of the smartest individuals he knows, highlighting their significant achievements. Musk noted that intelligence is measured by tangible accomplishments, specifically mentioning Bezos' impactful work despite their long-standing rivalry. Recently, their relationship appears to have softened, with Musk sharing memes suggesting a reconciliation.
DOGE claims to have saved $105 billion through extensive job cuts and spending reductions, but has only documented a small portion of these savings, leading to concerns over its accounting practices. The initiative has resulted in over 100,000 job losses across federal agencies, raising national security issues, particularly with layoffs affecting nuclear weapons site workers. Amidst mounting pressure, Trump has instructed department heads to take control of staffing decisions, while Musk revealed the existence of 'magic money computers' at the Treasury that allegedly issue payments without proper oversight.
Elon Musk, leading the new Department of Government Efficiency (DOGE), claims to have identified 14 "magic money computers" within U.S. agencies that can print unlimited cash. His initiative aims to cut wasteful spending and reduce the federal budget deficit, but has raised concerns among Bitcoin advocates about government spending and economic stability. Despite scrutiny over DOGE's savings claims, Musk acknowledges that the government's reported spending may be underestimated by up to 10%.
Elon Musk's companies, particularly Starlink, are poised to benefit from potential government contracts and spectrum auctions, with support from key Republican figures like Sen. Ted Cruz. The push for mid-band spectrum sales could enhance Starlink's broadband capabilities, despite concerns over national security and the implications for federal procurement laws. Critics argue that these maneuvers prioritize tax cuts for the wealthy over essential telecom infrastructure funding.
The BRICS bloc, comprising Brazil, Russia, India, China, and South Africa, is set to expand in 2025, with over 20 countries expressing interest in joining, driven by a desire for de-dollarization and a shift in global economic dynamics. U.S. President-elect Donald Trump has threatened 100% tariffs on nations supporting a BRICS currency, emphasizing the need to maintain the dominance of the U.S. dollar. The bloc aims to integrate nations that align with its vision, reflecting its growing influence in international affairs.
Senator Ted Cruz advocates for Bitcoin, highlighting its potential to empower small businesses and serve as a hedge against inflation. He warns against hasty government regulations, urging Congress to understand cryptocurrency better before imposing rules. Cruz champions Texas as a prime location for Bitcoin mining due to its low-cost energy and business-friendly environment, asserting that he is the only Senate BTC miner with active operations in West Texas.
In an exclusive interview, Senator Ted Cruz expressed strong support for Bitcoin, highlighting its potential to empower small businesses and serve as a hedge against inflation. He cautioned against hasty government regulations, urging Congress to fully understand cryptocurrency before imposing rules, and criticized the skepticism from congressional Democrats. Cruz also introduced legislation to prevent the development of a central bank digital currency, advocating for individual freedom and autonomy in the crypto space.
Georgia Representative Mike Collins disclosed investments in the Ski Mask Dog (SKI) token, purchasing between $1,001 and $15,000 in three transactions from December 1 to December 3, 2024, amid a crypto market surge. This follows his reelection victory and adds to his previous investments in Ether, Velodrome, Aerodrome Finance, and The Graph. Collins, who has supported crypto-friendly legislation, is the first member of Congress to file such a report in 2025, highlighting his growing interest in digital assets.
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