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

Congress: Which part of this do you not understand?
January 30, 2017  Emailed to WSJ/NYT/DMN on January 30, 2017


The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that provides further explanation of the Ponzi scheme fiscal policy (USAPonzi) that the U.S. Government has been operating since FY1969.


Congress: Which part of this do you not understand?

January 30, 2017


The U.S. Government is corrupt!


The senior members of the U.S. Government are Criminals.


The senior members of the U.S. Government are scoundrels, liars, and cheaters.


The U.S. Government is committing fiscal and accounting fraud by using Cash Accounting rather than the proper GAAP Accounting.


The U.S. Government is operating a $105.0 Trillion Ponzi scheme which I have named USAPonzi.


The U.S. Government is telling us that the U.S. Government has a budget deficit in FY2017 of $0.59 Trillion on a Cash basis when our real deficit is $5.63 Trillion on a GAAP Basis. This is a 10X lie.


The U.S. Government is telling us that the U.S. Government has public liabilities of $20.0 Trillion on a Cash basis when our real public liabilities are $105.0 Trillion on a GAAP basis. This is a 5X lie.


The U.S. Government has overspent its cash budget, creating National Debt of $20 Trillion which can never be paid back. Nobody has that kind of real money.


The U.S. Government has promised to pay Government benefits of $85.0 Trillion which it has not funded so these benefits can never be paid. Nobody has that kind of real money.


The U.S. Government has overpaid itself and its related businesses by $20.0 Trillion making U.S. Government employees some of the highest paid and wealthiest people in the United States. This is cheating the Common Man.


The U.S. Government has promised to pay Social Security, Medicare, Medicaid, Food Stamps, Disability, Government pensions, Veteran's benefits, etc. etc. that are valued at $85 Trillion more than the U.S. Government has collected in taxes from the U.S. upper class. Most of these benefits can never be paid. The U.S. Government is lying to the Common Man.


The U.S. Government has told the Common Man that if they will just pay taxes for Government benefits, the U.S. Government will pay them back when they retire, get old, or need health care but the U.S. Government is spending all of that money as it comes in to overpay themselves. The U.S. Government has borrowed and spent all of the money that has been paid in for future social benefits. The U.S. Government is lying to the Common Man.


The U.S. Government is lying
when it makes these future benefit promises because it has underfunded them by $85.0 Trillion.


The U.S. Government is not funding these future benefits so that it can overpay itself creating $20.0 Trillion of National Debt.


The U.S. Government is not adequately funding these future benefits and not paying for current year spending so that it can undertax its U.S. upper class friends by $105.0 Trillion creating US Unfunded Liabilities (GAAP) of $105.0 Trillion.


The U.S. Government has overpaid the U.S. ruling class by $20 Trillion. The U.S. Government is enriching the U.S. ruling class.


The U.S. Government has underfunded the benefit promises to the Common Man by $85.0 Trillion. The U.S. Government is colossally cheating the Common Man.


The U.S. Government has undertaxed the U.S. upper class by $105.0 Trillion giving them great wealth. The U.S. Government is colossally enriching the U.S. upper class.


The U.S. Government has borrowed $105.0 Trillion from the future Americans so that the current Americans can buy and build stuff that we cannot afford with this monopoly money that the future Americans do not have. More than 80% of the stuff that we have bought and built over the last 48 years has been purchased with monopoly money that the U.S. Government has fraudulently borrowed from the future Americans with unreported but real GAAP basis deficit spending. The U.S. Government is colossally cheating the rest of the planet by issuing $105.0 Trillion of imaginary-counterfeit money to the current Americans by undertaxing them. This is a $105.0 Trillion lie!


We have filled our roads with cars that we have purchased with monopoly money the U.S. Government has fraudulently borrowed from the future Americans.


We have filled our skies with planes that we have purchased with monopoly money the U.S. Government has fraudulently borrowed from the future Americans.


We have filled our cities and country sides with houses that we have purchased with monopoly money the U.S. Government has fraudulently borrowed from the future Americans.


We have filled our pockets with smartphones that we have purchased with monopoly money the U.S. Government has fraudulently borrowed from the future Americans.


We have filled our tummies with food we have purchased with monopoly money the U.S. Government has fraudulently borrowed from the future Americans.


We have filled our banks with monopoly money the U.S. Government has fraudulently borrowed from the future Americans.


We have built banks, restaurants, condos, apartment buildings, office buildings, malls, resorts, hotels, golf courses, football stadiums, basketball arenas, casinos, cities, airports, etc. etc. with monopoly money the U.S. Government has fraudulently borrowed from the future Americans.


We have paid our entertainers and pro athletes $millions with monopoly money the U.S. Government has fraudulently borrowed from the future Americans.


We have created millions of imaginary millionaires and hundreds of imaginary billionaires with monopoly money the U.S. Government has fraudulently borrowed from the future Americans.


The future Americans have an unlimited supply of monopoly money so we are getting richer and richer every day with monopoly money the U.S. Government is fraudulently borrowing from the future Americans.


The Dow Jones Industrial Average has climbed to 20,000 over the last 48 years because the U.S. Government has borrowed $105.0 Trillion of monopoly money from the future Americans so that we can buy stuff from these companies with this monopoly money to make them appear to be profitable and valuable so that we can buy the stock in these companies with the monopoly money the U.S. Government has fraudulently borrowed from the future Americans.


The U.S. stock market will "go to the moon" because the U.S. Government is borrowing $15.42 Billion (GAAP Deficit in FY2017 of $5.63T/365 = $15.42B) more monopoly money from the future Americans every day so that we have more monopoly money to buy more products and services so the companies selling these products and services will appear to be more profitable so that we will be enticed to buy more stock in these companies with more of the same monopoly money the U.S. Government is fraudulently borrowing from the future Americans.


This is how Ponzi schemes work. Pay the early participants with money from the late participants. We are paying the current Americans with imaginary-counterfeit money borrowed from the future Americans. So far, the U.S. Government has borrowed $105.0 Trillion of imaginary-counterfeit money from the future Americans to create this illusion of wealth and prosperity in the United States.


This is why I say that the senior officials of the U.S. Government are criminals. They have produced $105.0 Trillion of imaginary-counterfeit money out of "thin air", by deferring public liabilities to the future Americans, to create this illusion of wealth and prosperity while enriching themselves. The U.S. Government fraudulently tries to conceal this Ponzi scheme by reporting its financial condition on a Cash basis as opposed to proper and Generally Accepted Accounting Principles (GAAP Accounting).


The amount borrowed from the future Americans is shown in the following table as US Unfunded Liabilities (GAAP) which has created this monopoly money that I call imaginary-counterfeit money.

 

National Debt 
$20.0 Trillion 
Cash Deficit in FY2017  $0.59 Trillion 
GAAP Deficit in FY2017  $5.63 Trillion 
US Unfunded Future Liabilities  $85.0 Trillion 
US Unfunded Liabilities (GAAP)   $105.0 Trillion 
Imaginary-Counterfeit Money  $105.0 Trillion 
Total National Assets  $127.7 Trillion 

Source: www.usdebtclock.org January 30, 2017


The only way to eliminate this fraud is to adopt GAAP Accounting and commit to a balanced GAAP basis budget.


When the global economy and the global financial system finally accept the fact that the U.S. Government is corrupt and is operating a massive Ponzi scheme, we are in for a massive global depression and an epic failure of the global monetary system and the global banking system (See The Implosion of USAPonzi).


I have published another website www.usaponzi.net that I think better explains how this fraud works to create a massive global wealth and income gap between the haves and the havenots and to create false wealth and prosperity for the current Americans.


This fraud is explained in CliffsNotes format (USAPonzi CliffsNotes) and is also 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 formats and on my www.usaponzi.net website in both Kindle and PDF formats.


This is the biggest ($105.0 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and it is “The Biggest Ponzi Scheme on the Planet”!


John W White
Plano, TX