The Biggest Ponzi Scheme on the Planet-The U.S. Government
"American Economic Exceptionalism Explained"                     USAPonzi                                      by John W. White   Mar 29, 2013

China Miracle produced by USAPonzi 181204
December 4, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, Senator Ted Cruz, and Dallas Mayor Mike Rawlings 12/5/18


The following is an Op-Ed to “The Wall Street Journal”, “The New York Times”, “The Washington Post”, and “The Dallas Morning News” which explains how the China Economic Miracle has been produced by the U.S. Government fiscal and accounting fraud that I call  USAPonzi!


The “news media” has an ethical responsibility to inform the general public of how the U.S. Government is committing fiscal and accounting fraud to cheat the general public and the rest of the planet so they can “feather their own nests” and “dramatically feather the nests of their upper-class friends”.


The “news media” is aiding and abetting the corrupt and criminal U.S. Government by refusing to report this fiscal and accounting fraud! The U.S. Government should be operating its fiscal policy with accrual accounting!


China Miracle produced by USAPonzi 181204
December 4, 2018


The economy in China was 131 times larger in 2017 ($12,238B) than it was in 1970 ($93B) because the U.S. Government is corrupt ($12,238B/$93B = 131.6)!


The U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that has produced this dramatic economic growth in China over the last five decades!


The China economic miracle has been produced by a massive fiscal and accounting fraud that is being perpetrated by the U.S. Government!


Both the U.S. GDP and the China GDP have grown dramatically over the last half century because the U.S. Government is printing an unending and ever-increasing amount of imaginary-counterfeit money so the planet can buy an unending and ever-increasing amount of stuff from American and Chinese companies! Since USAPonzi was launched in FY1969, the U.S. Government has fraudulently borrowed $115.8 Trillion of imaginary-counterfeit money from the future Americans to fraudulently and dramatically stimulate both the American and Chinese economies!


The economy in China is booming because Americans, and people all over the planet, are buying stuff from China with $115.8 Trillion of monopoly money, I call it imaginary-counterfeit money, that the corrupt and criminal U.S. Government has fraudulently borrowed from the future Americans!


The economy in America is booming because Americans, and people all over the planet, are buying stuff in America and from America with $115.8 Trillion of monopoly money, I call it imaginary-counterfeit money, that the corrupt and criminal U.S. Government has fraudulently borrowed from the future Americans!


U.S./China GDP 1970-2017

(Source: The World Bank)

  U.S. GDP 
China GDP 
China%US 
2017  $19,391B  $12,238B  63.1% 
2016  $18,624B  $11,191B  60.0% 
2015  $18,121B  $11,065B  61.1% 
2010  $14,964B  $6,101B  40.8% 
2005  $13,094B  $2,286B  17.5% 
2000  $10,285B  $1,211B  11.8% 
1995  $7,664B  $735B  9.6% 
1990  $5,980B  $361B  6.0% 
1980  $2,863B  $191B  6.6% 
1970  $1,076B  $93B  8.6% 


The dramatic growth of the Chinese economy has occurred because the U.S. Government is printing imaginary-counterfeit money ($16.6 Billion a day) so the planet can buy the stuff that the massive work force in China can produce!


The U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money so the planet can buy an infinite amount of stuff and China has a work force of hundreds of millions to produce a massive amount of stuff! In theory, China GDP should approach infinity since the planet is in the process of getting an infinite amount of imaginary-counterfeit purchasing power from this accounting fraud that I call USAPonzi!


The U.S. Government is corrupt! The U.S. Government is operating its fiscal policy with a totally absurd accounting system by not using Generally Accepted Accounting Principles (GAAP Accounting)! The U.S. Government is promising and paying government benefits without taxing the U.S. upper class enough to pay for these benefits! The U.S. Government is promising government benefits but is not properly accruing the money to pay for these benefits!


GAAP basis deficit spending by the U.S. Government, prints imaginary-counterfeit money and gives it to the U.S. upper class by undertaxing them!


This U.S. Government fiscal policy and accounting system is so absurd that it is akin to playing NFL football with the rules for ping pong!


By not accruing for future benefits, the U.S. Government is incurring infinite public liabilities which is borrowing an infinite amount of imaginary-counterfeit money from the future Americans, so the current Americans can buy an infinite amount of stuff from China with this imaginary-counterfeit money!


The U.S. Government is committing a fiscal and accounting fraud that is borrowing an unending and ever-increasing amount of money from the future Americans so the current Americans can buy an unending and ever-increasing amount of stuff from China! This accounting fraud has produced a constantly growing and now booming economy in both the U.S. and China for the last 5 decades by borrowing an unending and ever-increasing amount of imaginary-counterfeit money from the future Americans!


If the U.S. Government was operating it fiscal policy with proper GAAP Accounting, this accounting system would inform the U.S. Government that it has assumed public liabilities (US Unfunded Liabilities (GAAP)) of $115.8 Trillion that the future Americans can never pay!


This accounting fraud has created booming imaginary-counterfeit economies in both the United States and China and has produced massive imaginary-counterfeit wealth in both the United States and China!


This accounting fraud is filling the planet with tall buildings, cars, airplanes, boats, big houses, stores, banks, restaurants, factories, chemical plants, guns, bombs, etc. etc. that are being bought and built with the imaginary-counterfeit money that this fraud has produced with GAAP basis deficit spending!


Author's note:
I contend that this accounting fraud is also the primary cause of Global Warming because the U.S. Government is fraudulently borrowing an unending and ever-increasing amount of imaginary-counterfeit money from the future Americans so the entire planet can buy, build, and operate an unending and ever-increasing number of environment-polluting objects (See Open Letter to GlobalChange.gov)!


Over one third of the net worth of the entire planet
(Total Global Wealth is $317 Trillion according to a Credit Suisse 2018 report) has been gained by fraudulently borrowing money from the future Americans ($115.8 Trillion)!


While the net worth of the planet is estimated to be $317 Trillion and the U.S. Government has fraudulently borrowed $115.8 Trillion from the future Americans, I contend that real net worth of the planet is not the arithmetic difference between these two numbers because I feel the planet has further leveraged this windfall of $115.8 Trillion of imaginary-counterfeit money to create even more phantom wealth for the planet!


List of Countries by Total Wealth

(Credit Suisse Global Wealth Report 2018)

Total Wealth 
Rank  Country  (billions USD) 
World  317,084 
1  United States  98,154 
China  51,874 
Japan  23,884 
Germany  14,488 
United Kingdom  14,209 
France  13,883 
Italy  10,569 
Canada  8,319 

Australia 

7,577 
10  Spain  7,152 
11  South Korea  7,107 
12  India  5,972 
13  Taiwan 

4,065 

14  Switzerland  3,611 
15  Netherlands  3,357 
16  Belgium  2,776 
17  Brazil  2,464 
18  Russia  2,240 
19  Sweden  1,920 
20  Mexico  1,729 
29  Saudi Arabia  977 


The United States of America appears to be the wealthiest and most prosperous country on the planet because the U.S. Government has fraudulently borrowed $115.8 Trillion from the future Americans, money that the future Americans do not have, and given it to the U.S. upper class (See Enriching the U.S. Upper Class by $115.8 Trillion)!


The wealth of many of our trading partners is also dramatically overstated in this Credit Suisse Global Wealth Report because Americans, and people all over the planet, are buying stuff with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans!


China appears to be the second wealthiest and second most prosperous country on the planet because the corrupt and criminal U.S. Government has provided the imaginary-counterfeit capital and China has provided the real labor to create this imaginary-counterfeit wealth and prosperity in China!


This U.S. Government accounting fraud is the sole reason that the economic expansion in China has been so dramatic especially over the last 3 decades! We have gotten the people in China to build a whole lot of stuff that we are buying from them with imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans!


The Chinese may be stealing our intellectual property but we are stealing their goods and services!


Reconciling these two thefts, should be the primary agenda item for the trade negotiations between the United States and China over the 90 day negotiating period that President Trump and President Xi have just agreed to! China does not want to admit to the intellectual property theft and neither party wants to admit to the goods and services theft! 


Both thefts must be stopped!


Most of the financial experts blame the Fed monetary policy for printing money to stimulate the global economy when it is the U.S. Government fiscal policy that is printing the money, $16.6 Billion every day, to fraudulently stimulate the global economy and create imaginary-counterfeit wealth! The U.S. Government has deferred $115.8 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans and undertaxed the current Americans, primarily the U.S. upper class, by $115.8 Trillion which has introduced $115.8 Trillion of imaginary-counterfeit money into the global financial system and the global economy.


The corrupt and criminal U.S. Government has fraudulently created economic prosperity in both the United States and China by fraudulently borrowing an unending and ever-increasing stream of  imaginary-counterfeit money from the future Americans.


The corrupt and criminal U.S. Government has fraudulently created great wealth for the upper class in both the United States and China by fraudulently borrowing an unending and ever-increasing stream of imaginary-counterfeit money from the future Americans!


The corrupt and criminal U.S. Government is running a classic Ponzi scheme!


Most everyone knows that this is a Ponzi scheme, but no one wants to expose it because it is so much fun for the people that are running the Ponzi scheme!


And the people running this Ponzi scheme do not fully appreciate the magnitude of this fraud because the Cash Accounting reporting by the U.S. Government exposes less than 20% of the real problem as reported by GAAP Accounting!


Deficit ratio = $0.84T/$6.07T = 13.8%


Liability ratio = $21.8T/$115.8T = 18.8%


USAPonzi is a $115.8 Trillion fraud that is growing by $16.6 Billion a day!


The U.S. Government is borrowing money, $16.6 Billion a day, from the future Americans, money that the future Americans do not have, and giving it to the U.S. upper class!


The U.S. Government is corrupt!


The senior officials of the U.S. Government are common criminals that have committed a $115.8 Trillion criminal act by not operating the U.S. Government fiscal policy with proper accrual accounting! The senior officials of the U.S. Government are common criminals because they are direct financial beneficiaries of this massive fraud! The corrupt and criminal U.S. Government is overpaying itself with imaginary-counterfeit money!


We have 535 criminals in the U.S. Congress and an untold number of criminals in the White House!


I have sent 14 whistleblower letters to the U.S. Securities and Exchange Commission, a whistleblower letter to every member of the U.S. Congress, and 9 whistleblower letters to each member of the U.S. Supreme Court so that all three branches of the U.S. Government would be informed of this massive fraud!


I have also sent over 200 Op-Eds to the “mainstream media” in an attempt to expose this massive fraud to the citizens of Planet Earth! None of these Op-Ed candidates have been published!


This massive fraud is explained in more detail in my Open Letter to US Government, my Open Letter to Planet Earth, and my Open Letter to US General Public!


I have presented specific fraud charges against the U.S. Government in my Fraud Charges against US Government commentary!


I have also explained this fraud to the International Monetary Fund in my Open Letter to the International Monetary Fund commentary!


To eliminate this massive ($115.8 Trillion) fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.

 

National Debt  $21.8 Trillion 
Cash Deficit in FY2019  $0.84 Trillion 
GAAP Deficit in FY2019  $6.07 Trillion 
US Unfunded Future Liabilities  $94.0 Trillion 
US Unfunded Liabilities (GAAP)  $115.8 Trillion 
Imaginary-Counterfeit Money  $115.8 Trillion 
Total National Assets  $151.2 Trillion 

Source: www.usdebtclock.org Dec 4, 2018


This fraud/Ponzi scheme (USAPonzi) is explained in much more detail on my websites www.usaponzi.net and www.usaponzi.com and in my books “USAPonzi” 11/22/15, “USAPonzi2 5/1/17, “USAPonzi3 2/1/18, and “USAPonziA 9/1/18! Each of these books have updates that I made every few days until the next book was published. I have published 687 commentaries since March 29, 2013 in an attempt to explain and expose this massive U.S. Government fraud!


This is the biggest ($115.8 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.


John W White
Plano, TX