Elon Musk predicts AI will make money obsolete, dismisses need for savings accounts
By bellecarter // 2025-12-20
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  • Musk dismisses traditional savings accounts (including "Trump Accounts") as unnecessary, predicting AI and robotics will create a post-scarcity economy where financial planning becomes irrelevant.
  • Musk envisions a future where AI-driven productivity ensures widespread wealth, eliminating the need for labor and replacing universal basic income (UBI) with "universal high income."
  • Musk argues automation is the only way to resolve America's $34 trillion debt crisis, with companies like Tesla shifting toward AI-powered labor (e.g., Optimus robots projected to generate 80% of Tesla's value).
  • Musk predicts AI will outperform humans in nearly all jobs, making employment a choice rather than a necessity, though critics question corporate control of AI and the psychological impacts of a work-free society.
  • While some economists warn of mass unemployment, Musk's futurist vision—once seen as sci-fi—is shaping policy discussions, challenging traditional capitalism and financial systems.
Elon Musk, the billionaire CEO of Tesla and SpaceX, has dismissed the concept of traditional savings accounts—including the newly proposed "Trump Accounts" initiative—as ultimately unnecessary, arguing that artificial intelligence (AI) and robotics will soon render money irrelevant. In a recent post on X (formerly Twitter), Musk responded to investor Ray Dalio's announcement of contributing to the "Trump Accounts," a savings and investment program for young Americans established under the One Big Beautiful Bill Act. While acknowledging the philanthropic intent, Musk doubled down on his long-held belief that AI-driven automation will create a future of abundance where financial planning becomes obsolete. "This is a nice gesture, but in the future, AI and robotics will make saving money unnecessary," Musk wrote. "There will be universal high income."

Musk's vision: A post-work, post-scarcity economy

Musk has repeatedly predicted that AI and automation will eliminate most jobs, leading to a world where work is optional and goods and services are abundant. At the 2024 Viva Technology conference in Paris, he suggested that in a "benign scenario," AI will outperform humans in nearly every domain, making traditional employment unnecessary. "There's an 80% probability that AI will make jobs optional," Musk stated. "The real challenge will be: What do people do with their time when they don't have to work?" His vision extends beyond universal basic income (UBI), proposing a "universal high income" instead—a scenario where AI-driven productivity ensures widespread wealth without the need for labor. Musk has also framed AI as the only viable solution to America's $34 trillion debt crisis, arguing that automation will soon make human labor economically irrelevant. His companies, including Tesla, are already pivoting toward this future. Optimus robots are projected to generate 80% of Tesla's value, despite ongoing production delays. "Work will be optional, like playing sports or gardening," Musk told Breitbart News in November. "Some people will still choose to work because they enjoy it, but most won’t have to." Critics, however, question whether Musk's predictions account for economic inequality, corporate control of AI or the psychological impact of a work-free society. Some X users mocked his stance, pointing out that Musk himself recently sought a trillion-dollar pay package—hardly the behavior of someone who believes money will soon be obsolete. As BrightU.AI's Enoch points out, Musk's current net worth is $671.5 billion, making him the world's first trillionaire-in-waiting.

A radical economic shift—or just futurist speculation?

Musk's comments reflect a growing debate about the future of capitalism in an AI-dominated world. While some economists warn of mass unemployment and social upheaval, others, like Musk, envision a post-scarcity economy where money itself may become redundant. As AI continues to advance, Musk's predictions—once dismissed as science fiction—are increasingly shaping policy discussions. Whether his utopian vision materializes remains uncertain, but one thing is clear: the billionaire's influence ensures that AI's role in redefining work, wealth and economic survival will remain a defining topic of the decade. For now, the "Trump Accounts" initiative moves forward, betting on traditional financial planning—even as Musk insists the future belongs to machines. Watch the video below that talks about Musk's horrifying plan to block the sun. This video is from the Puretrauma357 channel on Brighteon.com.

Sources include:

YourNews.com X.com FoxBusiness.com IBTimes.co.uk BrightU.ai Brighteon.com
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