The Treasury Payment System Elon Musk Now Has Access To
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Hello and welcome to another episode of the Oddlots Podcast. I'm Joe Wiesenthal.
And I'm Tracy Alloway.
Tracy, the theme of the last two weeks has been, I don't know, emergency episodes of the podcast. Because look, in some respects, it's not surprising, new administration, new unexpected things. There's always gonna be a flurry of activity when uh uh new administration comes. Unexpected stuff. But uh there's a lot.
Yes. We're basically a daily show now.
Yeah. At least for the past two weeks. Well, it's like how we were a daily show. I mean, we used to just do one episode a week prior to COVID. That was like really the mark of the world changing. It's like what as soon as COVID hit.
When you get more odd lots episodes, that's a bad sign.
It's a sign. Right. So some people would say it's a good sign that there's a lot of stuff going on that people want, but it's certainly a sign. And of course there's been uh stuff going on on trade. I guess we d one of our emergency episodes was about the deep seek sell off. There's just a lot going on right
now. Yes, indeed. And we're gonna talk about one of the other things that's been going on.
Right. And so obviously we've known for a while since part of the administration that Elon Musk and his Department of Government efficiency would be coming in. To my mind, there's like multiple questions here. I mean, there's just so many questions about what that is. You know, some people are like, Oh, is it gonna be about just making The government run more efficiently, so capital E, which Probably a lot of people wouldn't object to in theory. And then there's of course the question about how much can an organization or an entity like this do unilaterally, because a lot of the big spending decisions, they come out of Congress. One of the things that's happened though, there's been a lot of reporting on this from multiple outlets, is that Elon Musk and his team have apparently gotten access to a key payment system.
within the Department of Treasury.
Yeah, so this has been all over the news in recent days. And I guess I guess the downside is we have uh a group of unelected people who I think technically aren't government employees controlling the system through which the US sends basically all its payments, like everything, social security to Treasuries, all of that. But the upside is we get to talk about payments technology. So there's a small sil silver lining.
Right. And you know, look, this is actually, you know, we talk a lot about macro stuff on the podcast. So the amount of government spending that goes to this or that or deficits or debt or whatever. But it's actually we both like it when we get to talk about like How does money go from point A to point B? And this is an infinitely fascinating topic, but maybe sometimes people don't care. But this is a Now
they care.
But now this is a time for uh people to care. Like how does a payment actually get made to anything, whether it's a social security recipient, whether it's to an independent contractor, whether it's to an employee, or whether it's to the holder of a government bond awaiting uh their coupon.
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3 chaptersSpeakers
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