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

Enriching the Rich and Cheating the Rest!
October 26, 2017    Emailed to WSJ/NYT/DMN on 10/26/17


The following is an Op-Ed to “The Wall Street Journal”, “The New York Times” and “The Dallas Morning News” that explains how the U.S. Government is perpetrating a fiscal and accounting fraud that is Enriching the Rich and Cheating the Rest!


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”!


Enriching the Rich and Cheating the Rest!

October 26, 2017


The U.S. Government is perpetrating a fiscal and accounting fraud that is Enriching the Rich and Cheating the Rest!


The U.S. Government is corrupt! The U.S. Government has been operating with a fraudulent accounting system since FY1969! The U.S. Government is not using proper GAAP Accounting! Because of this fraud, the U.S. Government has borrowed $108.7 Trillion from the future Americans and given it to the U.S. upper class (See American Accounting Fraud)! This is fraud because the future Americans do not have $108.7 Trillion!


By not operating with accrual accounting (GAAP Accounting), the U.S. Government is promising the U.S. general public that it will pay them future benefits but has not been properly funding these promises since FY1969. The U.S. Government has underfunded these benefit promises by $88.3 Trillion (US Unfunded Future Liabilities). The U.S. Government has overspent its income by $20.4 Trillion (National Debt). The U.S. Government has undertaxed the U.S. upper class by the sum of these two items $108.7 Trillion (US Unfunded Liabilities (GAAP)). The U.S. Government has given the U.S. upper class $108.7 Trillion by undertaxing them.


The U.S. Government is enriching the rich in America by undertaxing them by $108.7 Trillion!


The U.S. Government is cheating the rest of America by underfunding the benefit promises that it has made to the U.S. general public by $88.3 Trillion!


By operating with an unbalanced GAAP basis budget, the U.S. Government has created a social injustice of $197.0 Trillion!


social injustice ($197.0 Trillion) = the rich (+$108.7 Trillion) - the rest (-$88.3 Trillion)


The U.S. Government is committing a fiscal and accounting fraud that is Enriching the Rich in America and Cheating the Rest of America!

 

National Debt  $20.4 Trillion 
Cash Deficit in FY2018  $0.69 Trillion 
GAAP Deficit in FY2018  $5.65 Trillion 
US Unfunded Future Liabilities  $88.3 Trillion 
US Unfunded Liabilities (GAAP)  $108.7 Trillion 
Imaginary-Counterfeit Money  $108.7 Trillion 
Total National Assets  $134.6 Trillion 

Source: www.usdebtclock.org Oct 26, 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 ($108.7 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