Chris Curl,
Editor
Feb. 27, 2025
Elon Musk and DOGE are fighting a seemingly unwinnable war against a massive and deeply entrenched Federal bureaucracy. Last week I wrote about the $4.7 trillion in untraceable Treasury payments recently discovered.
Americans are asking, “where did this money go?”
This question gave rise to another, “Where is the gold?”
The gold in question is the 4,600-5,000 tons supposedly held in Fort Knox. And with gold at nearly $3,000 per ounce, the question is more relevant than ever.
It appears that there’s virtually no record-keeping and thus accountability on government spending. In fact, the Federal Government has essentially been on an unchecked 100-year growth spurt, turning into a Leviathan of awesome power.
This is most evident in the U.S. defense sector, or what President Eisenhower called the “military-Industrial complex.”
Ike’s famous farewell warning went unheeded as this entity grew to a size and power that would have baffled even him.
For instance, just in 2018 the Pentagon spent over $1 billion auditing its finances and still failed to account for 63% of their $3.8 trillion in assets. For those who struggle with math, that’s well over half.
Similar inefficiencies are prevalent across other agencies as the entrenched bureaucracy grows in strength and size.
But what on Earth could rein in such a beast?
Blockchain.
In fact, from the moment I learned about the technology, the first use case I thought of was tracking government expenditures.
Blockchain technology provides an immutable, transparent, and decentralized ledger. Each transaction is recorded and timestamped on the blockchain.
Think of it like a large Excel spreadsheet requiring a consensus of many different computers to add the next cell or block. It essentially makes it impossible for someone to steal.
The decentralized nature of blockchain ensures no single entity can manipulate records, while smart contracts can automate processes, ensuring that funds are released only when predefined conditions are met.
Not only that, audits become significantly more efficient, as all transactions are readily available and verifiable on the blockchain. Artificial intelligence would be able to do most if not all of the forensic accounting work at that point.
By integrating blockchain into public expenditure systems, governments can foster greater trust with taxpayers and ensure that public funds are utilized responsibly.
And thankfully, I'm not the only one who realizes this. Elon recently agreed that the Treasury should be on the blockchain.
The American people deserve to know where their tax dollars are going and blockchain technology holds the key to unlocking transparency in government spending – something we’ve desperately needed for so long.
Click here to find out more about how blockchain is revolutionizing many aspects of the economy.
Keep coming back,
Chris Curl
Editor, Daily Profit Cycle