Cheating the Rest of the Planet-current
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!
The corrupt U.S. Government is committing a fiscal and accounting fraud by not using proper and Generally Accepted Accounting Principles (GAAP Accounting) also called accrual accounting! The corrupt U.S. Government has undertaxed the U.S. upper class by $154.7 Trillion by not accruing the money to pay the future benefit promises to the U.S. general public!
The corrupt U.S. Government is cheating the rest of the planet by fraudulently borrowing $154.7 Trillion from the future Americans, money the future Americans do not have, and giving it to the current Americans, primarily to the U.S. upper class. I call this fraudulently borrowed money, imaginary-counterfeit money, since the corrupt U.S. Government likes to pretend (imagine) that the future Americans can pay it someday, but the future Americans can never pay it, so it is worthless (counterfeit).
Americans, primarily the U.S. upper class, are buying everything under the sun with imaginary-counterfeit money (monopoly money) that the corrupt U.S. Government has fraudulently borrowed from the future Americans with GAAP basis deficit spending!
The corrupt U.S. Government has fraudulently printed $154.7 Trillion (US Unfunded Liabilities (GAAP)) of imaginary-counterfeit money so Americans can buy a whole hell of a lot of stuff without paying for any of it!
This is, by far, the biggest financial fraud ever perpetrated!
See Whistleblower Letter #1 to Planet Earth for more details on this accounting fraud/Ponzi scheme!
|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).
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain this fraud and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can be downloaded from my www.usaponzi.net website.
John W White