America: A Great Country ruined by U.S. Government Fraud!
July 26, 2016
The United States of America was as Ronald Reagan said "A Shining City on a Hill"! However this "Shining City" has been forever tarnished by corruption within the U.S. Government. In January of 1968 the U.S. Government, at the insistence of Lyndon Baines Johnson, adopted the "Unified Budget" that launched a massive Ponzi scheme fiscal policy (USAPonzi). This corruption has dramatically and artificially magnified the greatness of America and it will prove to be America's undoing.
For the last 47 years the U.S. Government has been borrowing faux money, a total of $102.9 Trillion as of July 26, 2016 (US Unfunded Liabilities (GAAP)), from the future U.S. taxpayers and is giving it to the U.S. citizens and businesses to dramatically improve the lifestyle of all Americans. The U.S. Government conceals most of this borrowing with fraudulent accounting by using Cash Accounting vs. the proper GAAP Accounting.
Cash Deficit in FY2016
|GAAP Deficit in FY2016
|Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org July 26, 2016
This fraud has allowed us to buy things we cannot afford (See Filling the Planet with Junk!). This fraud has made the U.S. upper class appear to be super wealthy. This fraud has given $102.9 Trillion of faux wealth to the U.S. upper class. This fraud has created a massive wealth and income gap between the U.S. upper class and the Common Man. This fraud has caused the stock market to continually go up for the last 47 years (See The Stock Market Bubble).
This fraud has caused resentment toward America by other parts of the planet. This resentment has even caused terrorism as a way to dramatically express this resentment (See Why "Radical Islamists" hate the Western World). This fraud has caused the bloating of the U.S. Government. This fraud has allowed the U.S. Government to make social benefit promises that it cannot keep.
This fraud has produced $102.9 Trillion of imaginary-counterfeit money. The money borrowed from the future U.S. taxpayers is faux money that is both imaginary and counterfeit. This fraud will cause our banks to fail when this Ponzi scheme implodes (See The Theory of Imaginary Money).
The untangling of this fraud will require that the U.S. Government be totally reformed. The untangling of this fraud will require that our financial system and our banking system be totally reformed (See The Bank Bubble). The untangling of this fraud will cause a massive global recession.
Yes, the United States of America used to be "A Shining City on a Hill" but the fiscal irresponsibility of the U.S. Government has caused us to live dramatically beyond our means for the last 47 years at the expense of future Americans and the rest of the planet. The economic miracle of the United States of America is all a hoax created by U.S. Government fiscal and accounting fraud.
We will pay a severe price for this opulent living over the last 47 years when this Ponzi scheme implodes.
I have tried to encourage the U.S. Government to address this U.S. Government fraud by sending 12 Whistleblower letters to the SEC and a Whistleblower letter to each member of Congress and to each member of the Supreme Court (these letters are posted on my website www.usaponzi.com).
This problem can only be equitably resolved by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government.
This change to GAAP Accounting will be very, very traumatic for the entire planet. This imaginary-counterfeit money, currently $102.9 Trillion, will evaporate into the "thin air" from whence it came when USAPonzi implodes (See The Implosion of USAPonzi).
In order to create a level economic playing field that is sustainable over time and equitable throughout the planet, the U.S. Government must eliminate this fraud and corruption. The U.S. Government must stop cheating the future Americans and the rest of the planet just so it can dramatically enhance the lifestyle of current Americans (See Getting Rich on Borrowed Money)!
USAPonzi is explained in much more detail on my website www.usaponzi.com and in my book "USAPonzi" which is available on Amazon in Kindle and paperback format and on www.usaponzi.com in PDF format.
This is the biggest ($102.9 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet".