CPAC - 'Simple But Very Shocking:' El Salvador's Pro-Bitcoin President Thinks He Knows Why US Collects Taxes Despite Ability To 'Print Unlimited Amounts Of Money Out Of Thin Air' | Benzinga
El Salvador President Nayib Bukele, a well-known backer of Bitcoin (CRYPTO: BTC) has raised questions about the sustainability of the U.S. government’s capacity to print endless amounts of money.
What Happened: On Monday, Bukele took to X, formerly Twitter, to raise concerns about the U.S. government’s monetary policies.
He questioned, “Can the government of the United States really keep printing unlimited amounts of money out of thin air?”
This video shared in the tweet was of his recent appearance at the U.S. conservative gathering, CPAC, where he urged the next U.S. President to fight against “dark forces,” according to an NPR report.
Talking to the audience in English, he remarked that the high taxes in the U.S. were “not really funding” the government.
Bukele said that Treasury bonds instead financed the U.S. government. He said these bonds are in turn purchased by the Federal Reserve, which finances the operation through printing money. He then went on to say that the Fed was backed by those very treasury bonds.
During the remarks, a member of the audience yelled Bitcoin (CRYPTO: BTC). He said, “Someone could ask if the government can print unlimited amounts of money out of thin air, why do they collect ...