In this monologue podcast, Tom Bilyeu argues that waste, fraud, and abuse are integral to the current U.S. economic and political system, which is built on ever-increasing debt due to the principles of modern monetary theory (MMT). He explains that the system, initiated by the Federal Reserve Act of 1913, requires continuous deficit spending to avoid collapse, as money is created through debt and interest obligations. Bilyeu contends that politicians perpetuate this cycle by promising voters free things, necessitating more money and justifying MMT. He suggests that Doge's efforts to balance the budget were a threat to this system, as eliminating waste would lead to a balanced budget, which would be catastrophic under the current framework. He advocates for a shift away from a debt-based system towards one based on scarcity and merit, warning of the consequences of continuing down the current path.
