Causing The Greatest Depression-current
The USAPonzi Apocalypse
October 1, 2020
I am a whistleblower! The U.S. Government is corrupt!
The corrupt U.S. Government is not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting)! The corrupt U.S. Government is being run by common criminals that have committed a $154.7 Trillion crime by borrowing $154.7 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans and giving it to the U.S. upper class!
In this commentary I will explain how the U.S. Government is committing a fiscal and accounting fraud that will cause “The Greatest Depression”!
The corrupt U.S. Government is committing a fiscal and accounting fraud by not operating its fiscal policy with proper and Generally Accepted Accounting Principles (GAAP Accounting). The corrupt U.S. Government is not accruing for future govenment benefit promises to the U.S. general public!
This fiscal and accounting fraud has produced a classic Ponzi scheme, I call it USAPonzi, that is in the process of borrowing an infinite amount of money, I call it imaginary-counterfeit money, from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them! The corrupt U.S. Government is not accruing the money to pay future benefits!
The implosion of USAPonzi will cause a more serious economic depression than “The Great Depression” of 1929. I predict that “The Greatest Depression” that will occur when USAPonzi implodes will be more catastrophic than “The Great Depression” because of the globalization of the economy and the magnitude of the debt that has been incurred over the last half century. However, the US Unfunded Liabilities (GAAP) of $154.7 Trillion that have been incurred by the U.S. Government because of USAPonzi, is the most significant problem for the global economy (See U.S. Total Financial Leverage 4.9X 1929).
The implosion of USAPonzi will be the triggering event for this massive economic depression that I call “The Greatest Depression” but it could also be called “The USAPonzi Apocalypse”. The fact that the U.S. Government has fraudulently borrowed $154.7 Trillion from the future Americans and given it to the U.S. upper class, is the primary cause of the dramatic financial and economic excesses that have produced an elevated lifestyle for all Americans, an opulent lifestyle for the elite Americans, and an opulent lifestyle for the elite all over the planet!
The U.S. Government has been printing imaginary-counterfeit money since FY1969 with GAAP basis deficit spending that has created an elevated lifestyle for Americans and much of the developed world. The U.S. Government is simply borrowing/stealing imaginary-counterfeit money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class! But this is all a giant hoax because the future Americans cannot pay these deferred public liabilities (US Unfunded Liabilities (GAAP)) which are estimated by usdebtclock.org to be $154.7 Trillion!
This fraud has given the U.S. upper class a gift of $154.7 Trillion of imaginary-counterfeit money simply by undertaxing them. The U.S. Government is operating with a corrupt and fraudulent fiscal policy so that it can give the U.S. upper class $154.7 Trillion, so the U.S. upper class can make huge campaign donations to their favorite politicians and pay huge speaking and books fees to senior U.S. Government officials.
USAPonzi has produced this massive pool of $154.7 Trillion of imaginary-counterfeit money simply by borrowing/stealing it from the future Americans with GAAP basis deficit spending. This massive pool of imaginary-counterfeit money can then be shared by the U.S. ruling class and the U.S. upper class.
The U.S. Government has run up a credit card bill of $154.7 Trillion (US Unfunded Liabilities (GAAP)) so that the current Americans can build big houses, buy big cars, buy big airplanes, build nice resorts, and give everyone a car, a TV and a smartphone. The U.S. Government expects the future Americans to pay for all this stuff.
When the rest of the planet realizes that the United States of America is a fraud and a crook; “the jig is up” and that will trigger “The Greatest Depression”. Americans have been writing “hot checks” for most of their purchases since FY1969.
A huge percentage of the economic activity around the planet is being produced by the introduction of imaginary-counterfeit money into the global economy by the GAAP basis deficit spending of USAPonzi! So far, the U.S. Government has produced $154.7 Trillion of imaginary-counterfeit money and is producing >$78.3 Billion more every day in FY2020 with ongoing GAAP basis deficit spending!
When this stash ($154.7T) and flow (>$78.3B/day) of imaginary-counterfeit money vanishes, the global economy will come to an abrupt stop, triggering “The Greatest Depression”.
|US National Debt
|Cash Deficit in FY2020
|GAAP Deficit in FY2020
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org October 1, 2020
*usdebtclock.org has stopped explicitly reporting the GAAP Deficit. The GAAP Deficit is implicitly reported as the change in US Unfunded Liabilities (GAAP). US Unfunded Liabilities (GAAP) were $126.1 Trillion on October 1, 2019 the start date for FY2020, therefore the GAAP Deficit in FY2020 will be >$28.6 Trillion (>$154.7T-$126.1T = >$28.6T).
This is the biggest ($154.7 Trillion) financial fraud ever perpetrated; I call it “USAPonzi: The Great American Fraud” and “The Biggest Ponzi Scheme on the Planet”!
John W. White