And with success US Governments printing money like there is no tomorrow, Elon Musk is correct.
Unfortunately there is a tomorrow and you will be spending or otherwise using your savings in that tomorrow, and if you keep cash the value will be severely hurt by Government money printing.
Historically, when countries have simply printed money it leads to periods of rising prices — there’s too many resources chasing too few goods.
Often, this means every day goods become unaffordable for ordinary citizens as the wages they earn quickly become worthless creating the Wealth Gap we now see in the USA.
The reason is that printing more money doesn’t increase economic output – it only increases the amount of cash circulating in the economy. If more money is printed, consumers are able to demand more goods. But if firms have still the same amount of goods, they will respond by putting up the prices.
Printing more money will simply spread the value of the existing goods and services around a larger number of dollars. This is inflation. Ultimately, doubling the number of dollars doubles prices. If everyone has twice as much money but everything costs twice as much as before, people aren’t better off, in fact they are worse off.