robosmith Posted March 21 Report Posted March 21 Elon Musk discovers 'magic money computers,' or how the U.S. financial system actually works Apparently Muskrat believes anything he doesn't understand is "magic." LMAO Quote Elon Musk, the chief executive of Tesla and SpaceX and the brainchild behind the Department of Government Efficiency, went onto Sen. Ted Cruz's podcast to discuss what he's learned in Washington. "It's insane," said Musk, as Cruz asked him about "magic money computers." "So you may think that the government computers, like, all talk to each other, they synchronize, they add up what funds are going somewhere, and it's, you know, it's coherent," said Musk. "I call it a magic money computer. Any computer which can just make money out of thin air," said Musk. He says there are 14 computers in all that send out payments - mostly, though not entirely, at the U.S. Treasury. What Musk described is indeed how the global financial system works. The U.S. government can create money out of thin air. One could even call it magical. Ben Bernanke has been talking about this for years. "The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost," Bernanke said in a famous 2002 speech, when he was a governor at the Fed. Adherents to what's called modern monetary theory go further - they say there are no limits at all to spending for governments with their own currencies. Taxes are not needed, though they can be used to keep inflation from running too hot, or to redistribute wealth. 1 Quote
eyeball Posted March 21 Report Posted March 21 39 minutes ago, robosmith said: "I call it a magic money computer. Any computer which can just make money out of thin air," said Musk. So like Bitcoin? 4 Quote A government without public oversight is like a nuclear plant without lead shielding.
Deluge Posted March 21 Report Posted March 21 41 minutes ago, robosmith said: Elon Musk discovers 'magic money computers,' or how the U.S. financial system actually works Apparently Muskrat believes anything he doesn't understand is "magic." LMAO Just think, robomarx, the government could be down to a dozen offices and maybe a few hundred employees when DOGE gets through with it! 1 Quote
Scott75 Posted March 21 Report Posted March 21 2 hours ago, robosmith said: Elon Musk discovers 'magic money computers,' or how the U.S. financial system actually works Apparently Muskrat believes anything he doesn't understand is "magic." LMAO It's great that Elon is beginning to learn how money is created. Some of us have known for a while. I personally think that the best documentary to explain how money is made these days is one from a former banker. It can be seen here: Quote
gatomontes99 Posted March 22 Report Posted March 22 Y'all have a comprehension problem. He was pointing out the scale at which our fiat currency was being abused. It's a sad state when y'all just accept that as fine or normal. 2 Quote The Rules for Liberal tactics: If they can't refute the content, attack the source. If they can't refute the content, attack the poster. If 1 and 2 fail, pretend it never happened. Everyone you disagree with is Hitler. A word is defined by the emotion it elicits and not the actual definition. If they are wrong, blame the opponent. If a liberal policy didn't work, it's a conservatives fault and vice versa. If all else fails, just be angry.
Hodad Posted March 22 Report Posted March 22 (edited) You don't need to know how things work to break shit, and that is the mission, after all. Trump was like, "Pull a Twitter on the mutha, Elon!" Edited March 22 by Hodad 1 Quote
gatomontes99 Posted March 22 Report Posted March 22 4 minutes ago, Hodad said: You don't need to know how things work to break shit, and that is the mission, after all. Trump was like, "Pull a Twitter on the mutha, Elon!" Gawd, you people just don't get it: X in 2024 Doubled Highest Yearly Twitter Profits If he breaks the government like that, I'm in. Quote The Rules for Liberal tactics: If they can't refute the content, attack the source. If they can't refute the content, attack the poster. If 1 and 2 fail, pretend it never happened. Everyone you disagree with is Hitler. A word is defined by the emotion it elicits and not the actual definition. If they are wrong, blame the opponent. If a liberal policy didn't work, it's a conservatives fault and vice versa. If all else fails, just be angry.
Hodad Posted March 22 Report Posted March 22 (edited) 47 minutes ago, gatomontes99 said: Gawd, you people just don't get it: X in 2024 Doubled Highest Yearly Twitter Profits If he breaks the government like that, I'm in. Awww, you gushing fanboys are so smitten. Meanwhile X is privately held with private books. What we do know is that he took it over, broke it, turned it even more toxic, spurred a mass exodus of users and advertisers, and drove down revenues to the point that it was worth less than a third of what he paid for it as of just a few months ago. That's what you want for the US? Although I think just last week he did get his billionaire buddies to issue a rosier rebound valuation for it. See how long that lasts as users flee X as fast as they are fleeing Tesla to get away from this toxic sociopath. Edited March 22 by Hodad Quote
robosmith Posted March 22 Author Report Posted March 22 (edited) 12 minutes ago, Hodad said: Awww, you gushing fanboys are so smitten. Meanwhile X is privately held with private books. What we do know is that he took it over, broke it, turned it even more toxic, spurred a mass exodus of users and advertised, and drove down revenues to the point that it was worth less than a third of what he paid for it as of just a few months ago. That's what you want for the US? Although I think just last week he did get his billionaire buddies to issue a rosier rebound valuation for it. See how long that lasts as users flee X as fast as they are fleeing Tesla to get away from this toxic sociopath. I keep hearing that all the users who hate StormTrooperX are fleeing to BlueSky where there is real intelligent conversation. Probably people like gato really love StormTrooperX 🤮 Edited March 22 by robosmith Quote
User Posted March 22 Report Posted March 22 1 hour ago, Hodad said: You don't need to know how things work to break shit, and that is the mission, after all. Trump was like, "Pull a Twitter on the mutha, Elon!" And yet X is running fine. 9 minutes ago, robosmith said: I keep hearing that all the users who hate StormTrooperX are fleeing to BlueSky where there is real intelligent conversation. Probably people like gato really love StormTrooperX 🤮 No... it is a bunch of radical leftists like you who can't stand having anyone disagree with them. Only, instead of running away from this whole forum, you just put people on ignore and run away from threads where your BS gets called out. Quote
gatomontes99 Posted March 22 Report Posted March 22 49 minutes ago, Hodad said: Awww, you gushing fanboys are so smitten. Meanwhile X is privately held with private books. What we do know is that he took it over, broke it, turned it even more toxic, spurred a mass exodus of users and advertisers, and drove down revenues to the point that it was worth less than a third of what he paid for it as of just a few months ago. That's what you want for the US? Although I think just last week he did get his billionaire buddies to issue a rosier rebound valuation for it. See how long that lasts as users flee X as fast as they are fleeing Tesla to get away from this toxic sociopath. I think I'll take my link with facts over your opinion and speculation. Quote The Rules for Liberal tactics: If they can't refute the content, attack the source. If they can't refute the content, attack the poster. If 1 and 2 fail, pretend it never happened. Everyone you disagree with is Hitler. A word is defined by the emotion it elicits and not the actual definition. If they are wrong, blame the opponent. If a liberal policy didn't work, it's a conservatives fault and vice versa. If all else fails, just be angry.
Hodad Posted March 22 Report Posted March 22 (edited) 19 minutes ago, gatomontes99 said: I think I'll take my link with facts over your opinion and speculation. I love that you think that some rando's unsourced blog is "facts." Sort of explains why you keep posting random tweets as "news." I have no idea if he has inside information or not, but neither do you. The difference is you'll but into whatever is convenient in the moment. Edited March 22 by Hodad 2 Quote
gatomontes99 Posted March 22 Report Posted March 22 16 minutes ago, Hodad said: I love that you think that some rando's unsourced blog is "facts." Sort of explains why you keep posting random tweets as "news." I have no idea if he has inside information or not, but neither do you. The difference is you'll but into whatever is convenient in the moment. Ok Quote Social media platform X has regained its $44 billion valuation, marking a significant turnaround for the company since Elon Musk took over. TX’s Financial Recovery and Cost-Cutting Moves Despite revenue drops following Musk’s takeover, X posted around $1.2 billion in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2024 https://www.financialexpress.com/world-news/elon-musks-x-hits-44-billion-valuation-againwhats-driving-the-comeback/3782441/ Or https://www.businessofapps.com/data/twitter-statistics/ Twitter was losing money. It is now profitable. Revenue is down. But so are costs. That's why it is making money. Quote The Rules for Liberal tactics: If they can't refute the content, attack the source. If they can't refute the content, attack the poster. If 1 and 2 fail, pretend it never happened. Everyone you disagree with is Hitler. A word is defined by the emotion it elicits and not the actual definition. If they are wrong, blame the opponent. If a liberal policy didn't work, it's a conservatives fault and vice versa. If all else fails, just be angry.
robosmith Posted March 22 Author Report Posted March 22 3 hours ago, gatomontes99 said: Ok Or https://www.businessofapps.com/data/twitter-statistics/ Twitter was losing money. It is now profitable. Revenue is down. But so are costs. That's why it is making money. Quote According to sources familiar with the matter, AKA, anonymous sources. Better make that investment before anonymous sources disappear. Quote
User Posted March 22 Report Posted March 22 1 minute ago, robosmith said: AKA, anonymous sources. Better make that investment before anonymous sources disappear. Not anonymous sources... Value of Elon Musk’s X ‘rebounds to $44bn purchase price’ https://www.theguardian.com/technology/2025/mar/19/value-elon-musk-x-rebounds-purchase-price#:~:text=The value of Elon Musk's,key ally of Donald Trump. Quote
Hodad Posted March 22 Report Posted March 22 3 hours ago, gatomontes99 said: Ok Or https://www.businessofapps.com/data/twitter-statistics/ Twitter was losing money. It is now profitable. Revenue is down. But so are costs. That's why it is making money. Holy shit. He IS a business genius after all. Anybody who can repair his own damage in just 3 years must be the bestest! -- maybe he can un-f*ck Tesla by 2028? Nah, just kidding. The consumer businesses will continue to suffer by association with the world's richest troll. SpaceX and StarLink are going to continue to suckle at the government teat and will be okay. Quote
gatomontes99 Posted March 22 Report Posted March 22 5 minutes ago, Hodad said: Holy shit. He IS a business genius after all. Anybody who can repair his own damage in just 3 years must be the bestest! -- maybe he can un-f*ck Tesla by 2028? Nah, just kidding. The consumer businesses will continue to suffer by association with the world's richest troll. SpaceX and StarLink are going to continue to suckle at the government teat and will be okay. Dude took a social media company that never showed a profit and made a profit. For that, you think he failed? 27 minutes ago, robosmith said: AKA, anonymous sources. Better make that investment before anonymous sources disappear. Couldn't refute it so you attacked the source. If only someone had a way to predict you would do that. 🔽👇⬇️⏬️ Quote The Rules for Liberal tactics: If they can't refute the content, attack the source. If they can't refute the content, attack the poster. If 1 and 2 fail, pretend it never happened. Everyone you disagree with is Hitler. A word is defined by the emotion it elicits and not the actual definition. If they are wrong, blame the opponent. If a liberal policy didn't work, it's a conservatives fault and vice versa. If all else fails, just be angry.
User Posted March 22 Report Posted March 22 27 minutes ago, Hodad said: Holy shit. He IS a business genius after all. Anybody who can repair his own damage in just 3 years must be the bestest! -- maybe he can un-f*ck Tesla by 2028? Nah, just kidding. The consumer businesses will continue to suffer by association with the world's richest troll. SpaceX and StarLink are going to continue to suckle at the government teat and will be okay. Twitter was over valued at the price he paid for it... so no, he did not repair his own damage. Twitter was losing money when he took it over... so no, he did not repair his own damage. SpaceX has revolutionized the way we put payloads into orbit at far cheaper prices and doing so at far greater pace. The notion that SpaceX is sucking at the teat of government vs they have provided not only the government but other commercial enterprises a far more cost effective way to put stuff into orbit is just you being you, not interested in any factual debate. Same goes for StarLink. You would rather waste countless billions on running fiber out to rural areas through a wasteful government bureaucracy when people have access to StarLink instead. 1 Quote
Hodad Posted March 22 Report Posted March 22 1 hour ago, gatomontes99 said: Dude took a social media company that never showed a profit and made a profit. For that, you think he failed? Couldn't refute it so you attacked the source. If only someone had a way to predict you would do that. 🔽👇⬇️⏬️ Dude, you yourself posted a chart that showed Twitter was profitable in 2018 and 2019 -- and without a value setback of $30 billion. 1 Quote
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