Billionaire Musk controls the US Treasury's payment system

Billionaire Elon Musk and his aides have taken control of the US Treasury 's payment system, raising concerns among critics, according to AFP.

Billionaire Musk, the world's richest man, is leading US President Donald Trump's efforts to cut federal costs under the so-called Office of Government Efficiency (DOGE).

"The only way to prevent fraud and waste of taxpayer money is to monitor payment flows and pause suspicious transactions for review," billionaire Musk emphasized on social network X on February 3, according to AFP.

Billionaire Elon Musk at the inauguration of US President Donald Trump in Washington DC on January 20

The U.S. Treasury's closely guarded payments system handles the government's cash flow, including $6 trillion a year for Social Security, Medicare, federal payrolls and other important payments.

Musk's control of the payment system was approved by new US Treasury Secretary Scott Bessent and became possible when an official in charge was suspended after refusing to hand over access, according to The Washington Post . The official later retired, a source familiar with the matter told AFP.

Additionally, Wired magazine reported that billionaire Musk has placed young DOGE replacements in key US government positions, and his team has unprecedented access to payment systems, access that is usually reserved for long-term employees.

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Meanwhile, Democratic lawmakers are expressing deep concern about Musk and his aides' access to US government money, arguing that it amounts to an illegal power grab. "They are taking the tools you need to stage a coup," said Senator Ron Wyden, the top Democrat on the Senate Finance Committee.

Senator Elizabeth Warren, the top Democrat on the US Senate Banking Committee, criticized the move as "extremely dangerous" and said it posed a systemic risk to the economy.

"I am deeply concerned that among your first acts as Secretary, you appear to have handed over a highly sensitive system responsible for the personal data of millions of Americans...to an unelected billionaire and an unknown number of his unqualified subordinates," Warren wrote in a letter to new US Treasury Secretary Scott Bessent.

Ms. Warren also warned that removing experienced employees in this important area of ​​​​government "puts the country at a higher risk of default, which could lead to a global financial crisis," according to AFP.

Source: https://thanhnien.vn/ti-phu-musk-kiem-soat-he-thong-thanh-toan-cua-bo-tai-chinh-my-185250204095050041.htm