Fraud Charges against the U.S. Government
August 18, 2018
This commentary presents specific fiscal and accounting fraud charges against the U.S. Government on behalf of the U.S. general public and the “rest of the planet”! Both of these parties are being cheated by U.S. Government fiscal and accounting fraud!
The U.S. general public is being cheated because they have been promised U.S. Government benefits that have been underfunded by $93.0 Trillion!
The “rest of the planet” is being cheated because the U.S. Government has printed $114.4 Trillion of imaginary-counterfeit money with GAAP basis deficit spending so Americans can buy stuff from the “rest of the planet” with this imaginary-counterfeit money! Americans are buying stuff with monopoly money!
The U.S. Government is committing a fiscal and accounting fraud that is dramatically favoring the U.S. upper class and the U.S. ruling class and is dramatically cheating the U.S. general public and the “rest of the planet”!
Simple statement of this fraud: The corrupt and criminal U.S. Government has pretended to borrow $114.4 Trillion from the future Americans and given it to the U.S. upper class when the future Americans do not have $114.4 Trillion!
This fiscal and accounting fraud has produced a classic Ponzi scheme, which I call USAPonzi, that the U.S. Government has been operating for the last 49 years! USAPonzi is fraudulently borrowing $16.5 Billion every day from the future Americans and giving it to the U.S. upper class!
The following are five specific charges against the U.S. Government including a quantification of the benefits to the favored parties of this fraud and the damages to cheated parties of this fraud as estimated by www.usdebtclock.org as of the date of this commentary.
Charge 1) The U.S. Government is not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting) and therefore is making future benefit promises to the U.S. general public but is not properly accruing for these future benefits! The U.S. Government is not following the principles of accrual accounting!
Charge 2) Because the U.S. Government is not properly balancing its budget according to GAAP Accounting, it has deferred $114.4 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans and undertaxed the current Americans, primarily the U.S. upper class, by $114.4 Trillion! The U.S. Government has fraudulently enriched the U.S. upper class by $114.4 Trillion!
Charge 3) Because the U.S. Government is not operating its fiscal policy with GAAP Accounting, it is not properly accruing for the future benefit promises to the U.S. general public. The U.S. Government has made $93.0 Trillion of promises (US Unfunded Future Liabilities) to the U.S. general public that it has not funded. The U.S. Government is collecting tax revenue from the U.S. general public to help pay for these future benefits but is not setting this money aside in a trust fund to pay these future benefits. The U.S. Government has lied to and cheated the U.S. general public by $93.0 Trillion by underfunding these benefit promises to the U.S. general public!
Charge 4) Because the U.S. Government is operating with a significant cash deficit, the U.S. Government has fraudulently borrowed $21.4 Trillion (National Debt) from the now fraudulently enriched upper class so that it can overpay the U.S. ruling class! The U.S. Government has fraudulently borrowed $21.4 Trillion from the $114.4 Trillion that has been fraudulently borrowed from the future Americans and given to the upper class! This money has been fraudulently borrowed twice by the U.S. Government to get this money to the U.S. ruling class!
Charge 5) Because the U.S. Government has fraudulently deferred $114.4 Trillion to the future Americans and undertaxed the current Americans by $114.4 Trillion, the current Americans, primarily the U.S. upper class, are buying stuff from the “rest of the planet” with money that has been fraudulently borrowed from the future Americans! I call this fraudulently borrowed money, imaginary-counterfeit money. The current Americans are buying all kinds of stuff with $114.4 Trillion of imaginary-counterfeit money so they do not have to pay for it!
In summary, the U.S. Government is committing a fiscal and accounting fraud so that it can colossally enrich the U.S. upper class, dramatically enrich the U.S. ruling class, colossally cheat the U.S. general public by underfunding future benefit promises, and colossally cheat the “rest of the planet” by borrowing $114.4 Trillion from the future Americans, money the future Americans do not have, so the current Americans can buy stuff with $114.4 Trillion of what I call imaginary-counterfeit money!
The U.S. Government is corrupt!
The senior officials of the U.S. Government are common criminals that have committed a $114.4 Trillion criminal act by not operating the U.S. Government fiscal policy with proper accrual accounting! The senior officials of the U.S. Government are common criminals because they are direct financial beneficiaries of this massive fraud! The corrupt and criminal U.S. Government is overpaying itself with imaginary-counterfeit money!
We have 535 criminals in the U.S. Congress and an untold number of criminals in the White House!
I have sent 14 whistleblower letters to the U.S. Securities and Exchange Commission, a whistleblower letter to every member of the U.S. Congress, and 9 whistleblower letters to each member of the U.S. Supreme Court so all three branches of the U.S. Government would be informed of this massive fraud!
I have also sent over 200 Op-Eds to the “main-stream-media” in an attempt to expose this massive fraud to the citizens of Planet Earth! None of these Op-Ed candidates have been published!
This massive fraud is explained in more detail in my Open Letter to Planet Earth and my Open Letter to US General Public!
To eliminate this massive fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget. GAAP Accounting (Generally Accepted Accounting Principles) is the commonly used name in America for the accounting guidelines for accrual accounting.
|Cash Deficit in FY2018
|GAAP Deficit in FY2018
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Aug 18, 2018
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” 11/22/15, “USAPonzi2” 5/1/17, and “USAPonzi3” 2/1/18! Each of these books have updates that I made every few days until the next book was published. I have published over 640 commentaries since March 29, 2013 in an attempt to expose this U.S. Government fraud!
This is the biggest ($114.4 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
John W. White