Facebook is built on Fraud 190211
February 11, 2019
Emailed to WSJ/NYT/WP/DMN, the US SEC, Fed Chairman Jay Powell, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, and Dallas Mayor Mike Rawlings 2/11/19
CNN Special Reports Presents
“Facebook at 15: It’s Complicated”
Special Debuts Sunday, February 10 at 9 PM ET / 6 PM PT
A company built in a dorm room 15 years ago is now the most powerful social media platform in the world. To fully understand Facebook of today, CNN goes back to the beginning, with exclusive never before seen interviews with leadership – from Mark Zuckerberg and Sheryl Sandberg – to shed light around the stories that brought the company to where it is today.
Facebook, as a social media platform, has to be considered a phenomenal success since it now connects over 2 billion people!
However, Facebook has been built on fraud!
Not fraud within Facebook but fraud within the U.S. Government!
The U.S. Government has fraudulently printed $122.5 Trillion of counterfeit money to make both America and Facebook appear to be phenomenally successful!
The false success of Facebook and the other FANG stocks is also explained in my FANG Miracle/Debacle commentary!
The false success of America is explained on my websites and in my books as noted at the end of this commentary!
Facebook has a market cap of $478 Billion as if February 8, 2019 and 35,587 employees as of December 2018.
Investors in Facebook think they own a company of great value and employees at Facebook think they have a productive and great paying job in a very successful company. However, both the investors in Facebook and the employees of Facebook have been fooled by the U.S. Government accounting fraud that I call USAPonzi.
When this accounting fraud is exposed, Facebook will be worth little to nothing and most of the 35,587 employees of Facebook will not have a job!
The U.S. Government is printing counterfeit money with GAAP basis deficit spending so Americans can buy stuff without earning the money to pay for it!
Facebook is making counterfeit money hand over fist by selling ads that are being purchased with counterfeit money for products that are being purchased with counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans!
The U.S. Government is committing fiscal and accounting fraud by not using proper GAAP accounting (Generally Accepted Accounting Principles) and as a result is printing counterfeit money at the current rate of $16.7 Billion a day (GAAP Deficit in FY2019 of $6.09T/365 days = $16.7B/day) to now a total of $122.5 Trillion (US Unfunded Liabilities (GAAP))!
The U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is fraudulently and continuously borrowing money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class with GAAP basis deficit spending! I call this fraudulently borrowed money, imaginary-counterfeit money, since it does not exist (imaginary) and has no value (counterfeit)!
Facebook is selling a lot of ads for products that Americans are buying with imaginary-counterfeit money that the U.S. Government is creating out of “thin air”!
The U.S. upper class has gotten super rich over the last 50 years and Facebook has appeared to become a phenomenally successful company over the last 15 years because the U.S. Government is committing a fiscal and accounting fraud by operating its fiscal policy with Cash Accounting rather than proper GAAP Accounting (Generally Accepted Accounting Principles)!
|Cash Deficit in FY2019
|GAAP Deficit in FY2019
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|| $122.5 Trillion
|Total National Assets
Source www.usdebtclock.org Feb 11, 2019
The U.S. Government is fraudulently borrowing $16.7 Billion every day from the future Americans and giving it to the U.S. upper class by undertaxing them! This fraud was launched in FY1969 by LBJ when he convinced the U.S. Congress to adopt the Unified Budget! Since FY1969, the U.S. Government has fraudulently borrowed $122.5 Trillion from the future Americans and has given it to the U.S. upper class! This accounting fraud, that I call USAPonzi, is what is creating the wealth and income gap!
The 400 richest Americans own more than the bottom 150 million Americans
This accounting fraud is why America appears to be rich and prosperous and why Facebook appears to be phenomenally successful; the U.S. Government is digitally printing imaginary-counterfeit money and giving it to the U.S. upper class! GAAP basis deficit spending by the U.S. Government digitally prints imaginary-counterfeit money and gives it to the U.S. upper class!
Facebook is phenomenally successful because the U.S. Government is phenomenally corrupt!
And the really sad thing is that this corruption is causing Global Warming that is in the process of Destroying Planet Earth! This U.S. Government accounting fraud is in the process of printing an infinite supply of imaginary-counterfeit money that the planet is using to buy, build, and operate an infinite number of environment-polluting physical objects which are causing Global Warming that is Destroying Planet Earth!
And Facebook gets to sell expensive ads for these products that are Destroying Planet Earth!
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, USAPonzi2, USAPonzi3, and my latest USAPonziA.
This is the biggest ($122.5 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
John W White