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

FUMC Dallas Financial Leader Presentation 180719
July 19, 2018


This presentation was given to the financial leaders of First United Methodist Church in Dallas, Texas by John W White on July 19, 2018.


My name is John Wesley White and I have been a member of First Church since 1965.


I would like to thank you for allowing me to present my views on the financial management of First Church Dallas.


Purpose: Explain why I feel that we should be cautious in making significant financial commitments for First Church Dallas.


Reason: I predict that the U.S. and global economy and the global financial system will experience a significant discontinuity in the near future because the U.S. Government is currently not operating its fiscal policy with the proper accounting system.


What I will tell you today, many of you will not believe.


What I will tell you today, I do not want to believe.


What I am saying can be likened to trying to convince “The Flat Earth Society” that the earth is round.


I am trying to convince you that I am telling the financial truth and that the U.S. Government is not!


I am trying to convince you that I am right and that the U.S. Government is wrong!


I also do not want to pretend that I am a trained accounting, economic, and financial expert.


I acquired my business and economic knowledge with “on the job” training.


My educational training was in Mathematics (BS and MS) and Physics (BS).


I am a retired business executive and former board member for several companies.


I served as CIO for Texas Instruments, President of the TI Information Technology Group, and CIO for Compaq Computer. I was on the board and chairman of the board for several companies.


I have spent the last five years studying the fiscal policy and financial condition of the U.S. Government and have written two websites and three books that document and explain my contentions and predictions.


My contention is that the U.S. Government is corrupt.


My contention is that the U.S. Government is not operating its fiscal policy with proper and Generally Accepted Accounting Principles commonly called GAAP Accounting.


The U.S. Government is not properly accruing the money to pay the future benefit promises to the U.S. general public. These future benefits are now underfunded by $92.8 Trillion. The U.S. general public has been lied to and cheated by $92.8 Trillion.


Because the U.S. Government is not properly funding these future benefits the U.S. upper class has been undertaxed by $92.8 Trillion plus the $21.2 Trillion that the U.S. Government has borrowed to meet current period expenses. The U.S. Government has fraudulently enriched the U.S. upper class by $114.0 Trillion by deferring $114.0 Trillion of public liabilities to the future Americans that can never be paid.


The U.S. Government, by not using GAAP Accounting, is borrowing money from the future Americans, money that the future Americans do not have, and giving it to the current Americans, primarily to the U.S. upper class! The U.S. Government has been running a classic Ponzi scheme for the last 49 years that I call it USAPonzi. This Ponzi scheme is printing what I call imaginary-counterfeit money with GAAP basis deficit spending and giving it to the U.S. upper class!


I contend that the U.S. Government is committing a fiscal and accounting fraud that is enriching the U.S. upper class, enriching the U.S. ruling class, oppressing and cheating the U.S. general public, and cheating the rest of the planet.


This accounting fraud has dramatically and fraudulently elevated the standard of living in America relative to the rest of the planet.


This accounting fraud has dramatically and fraudulently elevated the standard of living of the U.S. upper class relative to that of the U.S. Common Man!


This accounting fraud has dramatically distorted the global financial system by digitally printing $114.0 Trillion of counterfeit money!


This accounting fraud has fraudulently borrowed $114.0 Trillion from the future Americans and given it to the current Americans, primarily the U.S. upper class by undertaxing them. This fraud borrows $16.5 Billion more counterfeit money every day from the future Americans and gives it to the U.S. upper class.


This is fraud because the future Americans do not have $114.0 Trillion.


This accounting fraud is what has caused the wealth and income gap.


This accounting fraud is why the upper class folks have big houses, big cars, and are living an opulent lifestyle.


This accounting fraud has reduced the value of labor since we seem to have unlimited capital. The U.S. Government has created $114.0 Trillion of imaginary-counterfeit capital out of “thin air” by fraudulently borrowing it from the future Americans!


This accounting fraud has caused inflation.


This accounting fraud has caused the internet bubble.


This accounting fraud has caused the housing bubble. Home prices are up about 10X since USAPonzi was launched in FY1969! Americans are buying a lot of big houses, and getting bigger, with $114.0 Trillion of imaginary-counterfeit money!


This accounting fraud has caused the stock market to go up for the last 49 years.


This accounting fraud has promoted terrorism. People are irate that Americans have such an opulent lifestyle when they are living in poverty!


This accounting fraud has financed terrorism.


This accounting fraud has financed warring materials for us, for our allies, and our foes.


This accounting fraud has made guns and bombs affordable. Homeland terrorism is funded by USAPonzi!


This accounting fraud has caused the restaurant bubble.


This accounting fraud has caused the bank bubble.


This accounting fraud has caused under employment.


This accounting fraud has caused offshoring.


This accounting fraud has caused urbanization.


This accounting fraud has caused illegal immigration.


This accounting fraud has caused us to build private schools.


This accounting fraud has caused the cost of education to increase dramatically. I got my under graduate degree for $2,500 (room, board, books, and tuition) total for 4 years. My grandson's kindergarten cost $30,000 for 1 year. Fortunately this was paid for with imaginary-counterfeit money that was fraudulently borrowed from the future Americans! I had to use real money in the 1950s!


This accounting fraud has caused the cost of healthcare to increase dramatically.


This accounting fraud has caused drug trafficking.


This accounting fraud could be the cause of the Opioid Crisis.


This accounting fraud has created leisure time.


This accounting fraud has caused the video game crisis. Professional gamers are making $500,000 a month because people are paying imaginary-counterfeit money to watch expert gamers play a video games.


This accounting fraud has made many surgical procedures seem affordable.


This accounting fraud has made sex change surgery affordable.


This accounting fraud has made tattoos seem affordable. This financial bubble has caused a tattoo bubble. People would not pay real money for these tattoos if they paid for them with an hourly wage!


This accounting fraud has caused us to kill elephants and rhinoceros. This fraud has created a bubble in elephant ivory and rhinoceros nose hair! This fraud has funded a lot of big game hunter safaris!


This accounting fraud has caused earthquakes by searching for very expensive oil.


This accounting fraud has caused us to build windfarms. My 400 acre family farm, near Amity, MO, had a total value of less than $1Million in 1985 now has multiple $1Million plus windmills on it polluting perfectly good crop and pasture land! The county had to pave the roads and curve the corners just to get the windmill vanes and towers installed. Hundreds of useless windmills have been installed in this area alone.


This accounting fraud has built skyscraper cities in the Middle East.


This accounting fraud has built the city of Las Vegas.


This accounting fraud has built ghost towns and ghost airports in China.


This accounting fraud has built preposterously large mansions all over the planet.


This accounting fraud has caused an automobile bubble.


This accounting fraud has caused an airplane bubble.


This accounting fraud has built Starbucks (26,000) and McDonalds all over the planet.


This accounting fraud has built banks on nearly every corner. We think we need a lot of banks (93,000) to hold all of this $114.0 Trillion of counterfeit money.


This accounting fraud has built a lot of very fancy sports stadiums.


This accounting fraud has made the Dallas Cowboys appear to be worth billions.


This accounting fraud has made Tiger Woods a billionaire.


This accounting fraud has made Michael Jordan a billionaire.


This accounting fraud has created millions of imaginary millionaires.


This accounting fraud has created hundreds of imaginary billionaires, including Donald Trump.


The U.S. Government is promising unreasonable, unaffordable, and unfunded U.S. Government benefits to the U.S. general public and is not taxing the current Americans, primarily the U.S. upper class, nearly enough to pay for these future benefit promises. The U.S. Government is not adhering to the principles of accrual accounting.


The financial data I have used in my research has been primarily sourced from www.usdebtclock.org because that website started assessing and reporting the U.S. Government financial condition according to GAAP Accounting in the second quarter of calendar year 2015.


Because the U.S. Government is not using accrual accounting, it has deferred public liabilities of $114.0 Trillion to the future Americans (US Unfunded Liabilities (GAAP)); $21.2 Trillion of National Debt and $92.8 Trillion of US Unfunded Future Liabilities.


The current Americans, primarily the U.S. upper class, have gotten rich because they did not have to pay the taxes to pay for these public liabilities!


The U.S. Government has made benefit promises to the U.S. general public that are underfunded by $92.8 Trillion. The people that are counting on these benefits will be facing a very dire situation when this shortfall in funding is properly recognized.


The U.S. Government is bankrupt but continues to operate as a $114.0 Trillion con game!


Because the current Americans have been undertaxed by $114.0 Trillion they have plenty of money to buy things with this $114.0 Trillion of what I call imaginary-counterfeit money. This money was fraudulently retained by the current Americans because the U.S. Government is operating its fiscal policy with Cash Accounting rather than proper GAAP Accounting.


Americans
are buying stuff with $114.0 Trillion of imaginary-counterfeit money that has been fraudulently borrowed from the future Americans.


We are filling the planet with smartphones, cars, airplanes, houses, tall buildings, and boom towns with money that has been fraudulently borrowed from the future Americans.


Amazon is selling us tons of stuff that we are buying with money that the U.S. Government has fraudulently borrowed from the future Americans. Amazon, as we currently know it, will go out of business when this fraud is properly exposed.


We are paying our football players, basketball players, golfers, and entertainers with money that the U.S. Government has fraudulently borrowed from the future Americans. That is why they are making millions a year to play a simple game.


The U.S. Government is running a classic Ponzi scheme, that I call USAPonzi, which is borrowing an ever-increasing and unending amount of money from the future Americans and giving it to the current Americans.


The U.S. Government has been running a $114.0 Trillion confidence game for 49 years!


USAPonzi
is a Ponzi scheme of the same ilk as Madoff Ponzi but 2,000 times larger.


When will this con game end? That is an unknown but it is inevitable.


How will this con game end?


When this fraud is properly exposed, I predict that the following will happen:


The U.S. Government will not be able to pay its benefit promises because we have not accrued the money to pay these benefits!


The U.S. Government will not be able to pay the direct and indirect employees of the U.S. Government!


The U.S. Government will not be able to pay for its current military arsenal!


The financial, political, social, and military dominance of America will be eliminated!


The stock market will crash!


The bond market will crash!


The real estate market will crash!


The apparent wealth of the U.S. upper class will fall precipitously because this imaginary-counterfeit money will evaporate!


The incomes of all Americans will fall precipitously!


The standard of living in America will fall precipitously!


The wealth and income gap will dramatically compress!


The price of commodities and physical assets will fall precipitously!


We will be facing a total and epic reset of the global financial system!


We will see a dramatic discontinuity in the U.S. and Global economy!


We will see a global depression that will rival The Great Depression!


Banks will fail all over the planet!


Businesses will fail all over the planet!


We will see a lot of assets that have been bought and built with this imaginary-counterfeit money fall into under-use or even disuse!


By operating with this fraudulent fiscal policy for the last 49 years, the U.S. Government has set the stage for a global financial and economic system reset of epic proportions!


The U.S. Government is corrupt!


The senior officials of the U.S. Government are common criminals that have committed a $114.0 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!


I have presented specific fraud charges against the U.S. Government in my Op-Ed Fraud Charges against U.S. Government commentary!


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.

 

National Debt   $21.2 Trillion  
Cash Deficit in FY2018   $0.79 Trillion  
GAAP Deficit in FY2018   $6.03 Trillion  
US Unfunded Future Liabilities   $92.8 Trillion  
US Unfunded Liabilities (GAAP)   $114.0 Trillion  
Imaginary-Counterfeit Money   $114.0 Trillion  
Total National Assets   $137.5 Trillion  

Source: www.usdebtclock.org Jul 19, 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 625 commentaries since March 29, 2013 in an attempt to expose this U.S. Government fraud!


This is the biggest ($114.0 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