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

Criminals, Scoundrels, Liars, and Cheaters in DC
November 11, 2017    Emailed to WSJ/NYT/DMN on 11/11/17


The following is an Op-Ed to “The Wall Street Journal”, “The New York Times” and “The Dallas Morning News” that explains why Washington, DC is filled with Criminals, Scoundrels, Liars, and Cheaters!


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”!


Criminals, Scoundrels, Liars, and Cheaters in DC

November 11, 2017


The U.S. Government is filled with criminals, scoundrels, liars, and cheaters!


The U.S. Government is committing fiscal and accounting fraud to enrich themselves, to enrich the U.S. upper class, and to cheat everybody else!


Proper GAAP Accounting dutifully reports that the criminal scoundrels in the U.S. Government are lying by $108.9 Trillion (US Unfunded Liabilities (GAAP)) so that they can overpay themselves and their related businesses by $20.5 Trillion, enrich the U.S. upper class by $108.9 Trillion, cheat the U.S. general public by $88.4 Trillion, and cheat the rest of the planet by $108.9 Trillion!


The U.S. Government is corrupt! The U.S. Government is being run by a bunch of criminals! The U.S. Government is committing fiscal and accounting fraud! The U.S. Government is not operating with proper GAAP Accounting! The U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is creating money, I call it imaginary-counterfeit money, out of “thin air”!


The U.S. Government is borrowing money from the future Americans, that the future Americans do not have, and giving it to the U.S. upper class! The U.S. Government has been doing this for 48 years! The U.S. Government is digitally printing imaginary-counterfeit money and giving it to the U.S. upper class by undertaxing them (US Unfunded Liabilities (GAAP))! GAAP basis deficit spending creates imaginary-counterfeit money in the pockets of the people and businesses that did not pay these taxes!


The U.S. Government has fraudulently given the U.S. upper class $108.9 Trillion by undertaxing them! The U.S. Government is fraudulently giving the U.S. upper class $15.5 Billion more every day with ongoing GAAP basis deficit spending!


This is a criminal act! This is a $108.9 Trillion criminal act that is expanding exponentially!


The senior officials of the U.S. Government are scoundrels because they are operating the U.S. Government fiscal policy with Cash Accounting rather than the proper GAAP Accounting!


The senior officials of the U.S. Government are criminals because they have colossally enriched the U.S. upper class by fraudulently undertaxing them by $108.9 Trillion on a GAAP basis (US Unfunded Liabilities (GAAP))!


The senior officials of the U.S. Government are criminals because they have fraudulently borrowed $20.5 Trillion from the fraudulently enriched upper class so that they can overpay themselves and their related businesses! Perpetrating a fiscal and accounting fraud that is enriching the perpetrators is a criminal act!


The senior officials of the U.S. Government are liars and cheaters because they are promising benefits to the U.S. general public but have underfunded these promises by $88.4 Trillion! The politicians make outlandish promises to pay U.S. Government benefits (Social Security, Medicare, Medicaid, pensions, veteran's benefits, etc.) to their constituents but yet the U.S. Government has underfunded these benefit promises by $88.4 Trillion so that it can overpay itself and undertax its U.S. upper-class friends!


The U.S. Government has no intention or capability to continue paying these U.S. Government benefit promises! This is a classic “bait and switch” technique. The U.S. Government tells the U.S. general public that it will pay them future benefits if they will pay payroll taxes for Social Security, Medicare, and Medicaid etc. and then the U.S. Government has the unmitigated gall to borrow and spend this payroll tax money to overpay itself!


The senior officials of the U.S. Government are cheaters because they have fraudulently borrowed $108.9 Trillion from the future Americans so that the current Americans can buy stuff from the rest of the planet with imaginary-counterfeit money!


The senior officials of the U.S. Government are scoundrels for continuing this fraud for 48 years that is dramatically enriching the U.S. ruling class, colossally enriching the U.S. upper class, colossally cheating the U.S. general public, and colossally cheating the rest of the planet!


The senior officials of the U.S. Government are scoundrels because they are reporting our FY2018 budget deficit on a Cash basis at $0.68 Trillion when our real budget deficit is $5.66 Trillion on a GAAP basis! That is not a misprint; usdebtclock.org estimates that our FY2018 Cash deficit will be $0.68 Trillion and that our GAAP deficit will be $5.66 Trillion! Of course, we will not have good estimates for FY2018 until the budget and the tax reductions for FY2018 are finalized!


The senior officials of the U.S. Government are scoundrels because they are reporting our public liabilities as our National Debt of $20.5 Trillion when our real public liabilities are $108.9 Trillion (US Unfunded Liabilities (GAAP))! By operating with Cash Accounting rather than the proper GAAP Accounting, the U.S. Government is not properly accruing for future benefit promises! These future benefits are now underfunded by $88.4 Trillion (US Unfunded Future Liabilities)!


The U.S. Government has enriched the U.S. upper class by $108.9 Trillion by undertaxing them by $108.9 Trillion! This is why the total net worth of all Americans (Total National Assets) is now estimated to be $135.1 Trillion! The United States of America appears to be wealthy and prosperous because the current Americans have been undertaxed by $108.9 Trillion! Unfortunately, this apparent wealth gain for the U.S. upper class of $108.9 Trillion is imaginary-counterfeit money because the future Americans can never pay these deferred public liabilities of $108.9 Trillion!


The senior officials of the U.S. Government are criminals that have committed a $108.9 Trillion crime!


The senior officials of the U.S. Government are scoundrels!


The senior officials of the U.S. Government are liars!


The senior officials of the U.S. Government are cheaters!


The senior officials of the U.S. Government are perpetrating a $108.9 Trillion fiscal and accounting fraud to enrich themselves and their upper-class friends.


The U.S. general public does not know who to vote for because everyone currently in Washington or anyone that wants a job in Washington has to be willing to go along with the fraud and corruption that exists in Washington.


How do you break out of this fraud and corruption when the inmates are running the prison!


The senior officials of the U.S. Government are criminals, scoundrels, liars, and cheaters!


You have to be a criminal, a scoundrel, a liar, and a cheater to get a job in Washington and retain your seat in Washington!


Our U.S. Government budget is a hoax! Our U.S. economy is a hoax! Our global economy is a hoax! Our financial system is a hoax! All because the U.S. Government is operating a $108.9 Trillion Ponzi scheme by not operating with GAAP Accounting! The U.S. Government has fraudulently borrowed $108.9 Trillion of imaginary-counterfeit money from the future Americans, that the future Americans do not have, and given it to the U.S. upper class!


We are filling the planet with things we cannot afford and cannot effectively use by buying them with the $108.9 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans! That is why we have traffic jams! That is why we have so many tall buildings in big cities! That is why the upper-class folks have big houses and big fancy cars! That is why oil, gold, bitcoin, healthcare, eggs, and popcorn are so expensive! That is why we have so many banks and Starbucks stores! That is why Facebook, Apple, Amazon, Netflix, and Google appear to be worth Billions! That is why pro athletes can make $Millions! That is why the stock market continually goes up!


The U.S. Government is printing imaginary-counterfeit money with GAAP basis deficit spending!


The only way out is for the senior members of the U.S. Government to admit that they are criminals, scoundrels, liars, and cheaters!


The only way out is for the senior members of the U.S. Government to say “we are sorry but we have been cheating you for 48 years”!


The only way out is for the senior members of the U.S. Government to say “we have been using a fraudulent accounting system since FY1969”!


The only way out is for the senior members of the U.S. Government to say “we have been running a Ponzi scheme since FY1969”!


The only way out is for the U.S. Government to start using honest accounting!


The only way out is to “reform the U.S. Government to adapt to the financial reality of honest accounting”!


But how do you administer justice when it is the U.S. Government that is the criminal!


The sad thing is that I think most of the people in Washington know that they are criminals, scoundrels, liars, and cheaters; they just do not want to be the first one to admit it and they do not want to stop this “gravy train” that they have created from themselves!


A lot of people are going to be mad as hell when they find out that the U.S. Government has been using fiscal and accounting fraud to royally cheat them for 48 years so that they can enrich themselves and their rich friends!


The U.S. Government is corrupt!


The U.S. Government is running a $108.9 Trillion Ponzi scheme!


The U.S. Government is filled with criminals, scoundrels, liars, and cheaters!


National Debt  $20.5 Trillion 
Cash Deficit in FY2018  $0.68 Trillion 
GAAP Deficit in FY2018  $5.66 Trillion 
US Unfunded Future Liabilities  $88.4 Trillion 
US Unfunded Liabilities (GAAP)  $108.9 Trillion 
Imaginary-Counterfeit Money  $108.9 Trillion 
Total National Assets  $135.1 Trillion 

Source: www.usdebtclock.org Nov 11, 2017


To eliminate this fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.


I have published a website www.usaponzi.net that explains how this fraud works to create a massive global wealth and income gap between the haves and the have-nots and to create false wealth and prosperity for the current Americans. The www.usaponzi.net website is an introduction to my more detailed website www.usaponzi.com and my books “USAPonzi” (Nov 22, 2015) and “USAPonzi2” (May 1, 2017) which are available on Amazon to better explain this fraud/Ponzi scheme.


This fraud/Ponzi scheme is also explained in “short story style” in my October 1, 2017 commentary USAPonzi CliffsNotes and in my October 8, 2017 commentary USAPonzi Elevator Speech.


This is the biggest ($108.9 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