Creating Money out of "Thin Air"!
October 1, 2016 Emailed to WSJ NYT DMN on Sept 29, 2016
The following is an Op-Ed
To: The Wall Street Journal
The New York Times
The Dallas Morning News
The Wall Street Journal, The New York Times, and The Dallas Morning News are now co-conspirators in this U.S. Government fraud (USAPonzi) by refusing to expose this massive fiscal and accounting fraud and corruption!
Creating Money out of "Thin Air"!
October 1, 2016
The U.S. Government is Creating Money out of "Thin Air"!
The Senior U.S. Government Officials are Criminals!
The U.S. Government is being run by a bunch of Scoundrels, Liars, and Cheaters!
The U.S. Government is creating money out of "Thin Air" by borrowing imaginary money from the future Americans and giving it to the current Americans (See The Theory of Imaginary Money). The U.S. Government has already borrowed $103.7 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans with GAAP basis deficit spending and is borrowing $15.6 Billion more every day (GAAP Deficit in 2016 of $5.70T/365 = $15.6B). The problem is, the future Americans do not have $103.7 Trillion. Therefore, this borrowed money is imaginary-counterfeit money since it has no value. This is why The U.S. Government is corrupt! This is why The United States of America is a Fraud!
The U.S. Government is operating a massive Ponzi scheme (USAPonzi) by deferring $103.7 Trillion of unpayable public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans. The U.S. Government is operating with a corrupt and fraudulent fiscal policy by using Cash Accounting rather than the proper GAAP Accounting (Generally Accepted Accounting Principles) in an attempt to conceal this fraud and corruption. The U.S. Government is just borrowing/stealing imaginary-counterfeit money from the future Americans to pull off this massive fraud.
Every dollar of GAAP basis deficit spending becomes an imaginary-counterfeit dollar in the pocket of the U.S. taxpayer that did not have to pay that dollar of taxes.
imaginary-counterfeit money = US Unfunded Liabilities (GAAP)
By using a corrupt and fraudulent fiscal policy, the U.S. Government is fraudulently improving the standard of living of all current Americans, is favoring the Government employees and businesses by overpaying them, is dramatically favoring the U.S. upper class by undertaxing them, is cheating the Common Man by not funding the future benefit promises, and the United States of America is cheating the planet by writing "Hot Checks" to buy stuff with this imaginary-counterfeit money that the U.S. Government is borrowing/stealing from the future Americans. The U.S. upper class is getting filthy rich because the U.S. Government has borrowed $103.7 Trillion of imaginary-counterfeit money from the future Americans and has given it to the U.S. upper class by undertaxing them.
With the current Ponzi scheme fiscal policy, the U.S. Government will create an infinite amount of imaginary-counterfeit money out of "Thin Air"!
|Cash Deficit in FY2016
|GAAP Deficit in FY2016
|Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Oct 1, 2016
In the above table, Total National Assets of $123.6 Trillion is the private net worth of all U.S. citizens and businesses as estimated by usdebtclock.org. However, $103.7 Trillion of that private net worth has been fraudulently borrowed from the future Americans. This is a very simple fraud; the U.S. Government borrows $103.7 Trillion of imaginary-counterfeit money from the future Americans and gives it to the current Americans by undertaxing them by $103.7 Trillion. Most (84%) of this U.S. private net worth has been created out of "Thin Air" by borrowing it from the future Americans ($103.7T/$123.6T = 0.84).
The U.S. Government is simply and fraudulently creating imaginary-counterfeit private wealth by assuming unpayable public liabilities.
Let me say that one more time; the U.S. Government has borrowed $103.7 Trillion of imaginary-counterfeit money from the future Americans and given it to the current U.S. upper class Americans. This imaginary-counterfeit money will evaporate into the "Thin Air" from whence it came when USAPonzi implodes (See The Implosion of USAPonzi).
This dramatic inequity and fraud can only be eliminated by the U.S. Government adopting GAAP Accounting and committing to a balanced GAAP basis budget.
This fraud and corruption within the U.S. Government is explained in much more detail on my website www.usaponzi.com and in my book "USAPonzi" that is available on Amazon in Kindle and paperback formats.
The size of this U.S. Government fraud is easily calculated; it is the amount of imaginary-counterfeit money that the U.S. Government has borrowed/stolen from the future Americans.
USAPonzi is a $103.7 Trillion fraud; "The Biggest Ponzi Scheme on the Planet"!