Part of the current American population views the economy as a fluid gift basket that will continue to provide essential items even if the country is closed from its regular work flow, Musk told Rogan on May 7.
“The idea, however, that you can just send checks to everyone and everything will be fine, is not true,” said Musk, referring to the stimulus money that the United States government sent to citizens. .
Government Logically Cannot Support Its Money Printing Efforts
In an attempt to redress the currently troubled financial turn, the US government removed the cap on its money printer, putting into play a $ 2 trillion stimulus package.
According to Musk, just printing money without producing goods or services doesn’t work. “If you don’t do stuff, there is no stuff,” he said. “You can’t just legislate money and solve these problems. “
Bitcoin solves this problem
Built with a limited maximum of 21 million coins, Bitcoin does not allow inflation. The only inflation seen in Bitcoin is its mining reward, which adds to its outstanding supply from its maximum cap. Below a hard fork consensual to the Bitcoin blockchain, this ceiling can never be raised.
Musk and Rogan did not mention Bitcoin in the two-hour long interview, however, according to an analysis of the cat’s transcript.
The golden bug Peter Schiff also weighed on the interview with a Tweeter on Musk’s comments. “Once the foreign demand for dollars freezes, and we can’t import what others are making, there isn’t much either,” said Schiff, also failing to mention Bitcoin as part of ‘a possible solution.
Schiff has made a name for himself as an anti-Bitcoin personality. Musk only apparently has about 0.25 BTC himself, from 2019.