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

Jamie Dimon apparently has NO CLUE!
July 18, 2017   Emailed to WSJ/NYT/DMN on 7/19/17


The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that explains why Jamie Dimon, Chairman and CEO of JPMorgan Chase, apparently has no clue that we are on the brink of the biggest economic and financial system crisis since "The Great Depression"!


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".


Jamie Dimon apparently has NO CLUE!

July 18, 2017


Jamie Dimon, Chairman and CEO of J.P. Morgan Chase, apparently has no clue that we are on the brink of the biggest economic and financial system crisis since "The Great Depression"!


I say that because of his profanity laced comments that he made following the J.P. Morgan second-quarter earnings announcement on July 15, 2017.


J.P. Morgan’s Dimon launches into expletive tinged rant, saying ‘almost an embarrassment to be American’


By Mark DeCambre
Published: July 15, 2017 9:20 a.m. ET
J.P. Morgan’s shares are down 1.4% after reporting second-quarter results


I agree with Dimon when he says it is 'almost an embarrassment to be American' but for a different reason than was given by Jamie Dimon. He blames the U.S. Government for a stalemate in taking policy actions to further stimulate the U.S. economy. I blame the U.S. Government because the U.S. Government is corrupt! The U.S. Government is using a fraudulent fiscal policy and accounting system to enrich themselves, enrich the upper class, cheat the common man, and cheat the rest of the planet.


Based on this rant by Jamie Dimon, I can only assume that Jamie Dimon, the celebrated Chairman and CEO of one of the largest banks on the planet, has no clue that the U.S. Government is corrupt!


Based on this rant by Jamie Dimon, I can only assume that Jamie Dimon, the celebrated Chairman and CEO of one of the largest banks on the planet, has no clue that the U.S. Government is using fraudulent accounting!


Based on this rant by Jamie Dimon, I can only assume that Jamie Dimon, the celebrated Chairman and CEO of one of the largest banks on the planet, has no clue that the U.S. Government is operating a $106.8 Trillion Ponzi scheme! I call this Ponzi scheme
USAPonzi.


Based on this rant by Jamie Dimon, I can only assume that Jamie Dimon, the celebrated Chairman and CEO of one of the largest banks on the planet, has no clue that the U.S. Government is fraudulently borrowing money, $106.8 Trillion so far, from the future Americans and giving it to the U.S. upper class.


J.P. Morgan Chase has become one of the largest banks on the planet because of this U.S. Government fraud! J.P Morgan Chase now has deposits of $2.5 Trillion largely because the U.S. Government has fraudulently borrowed $106.8 Trillion from the future Americans and given it to the U.S. upper class. We are filling our banks with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans (See The Bank Bubble)!


The U.S. Government is simply and fraudulently borrowing $106.8 Trillion of faux money from the future Americans and giving it to the U.S. upper class!


Jamie Dimon has become filthy rich because of this U.S. Government fraud! This U.S. Government fraud is enriching all U.S. upper class folks with this $106.8 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans!


Because of this fraud, the U.S. Government has created the biggest financial bubble in history, $106.8 Trillion simply by fraudulently borrowing it from the future Americans, which in turn has created bubbles in essentially all asset classes, most notably in the Stock Market and Real Estate (See Why Stocks and Real Estate prices go up).


How is it possible that the celebrated Chairman and CEO of one of the largest banks on the planet cannot see that we are on the brink of what could be the biggest economic depression and financial system collapse in the history of the planet.


But then I realize that Janet Yellen, the U.S. Chief Economist, also has no clue we are on the brink of what could be the biggest economic depression and financial system collapse in the history of the planet (See Janet Yellen apparently has NO CLUE).


Something is wrong with this picture!


The U.S. Government is committing fiscal and accounting fraud by operating with Cash Accounting rather than the proper GAAP Accounting. This fraud is enriching the U.S. upper class by $106.8 Trillion. This fraud is cheating the U.S. Common Man by underfunding U.S. Government benefit promises to the U.S. Common Man by $86.8 Trillion. This fraud is cheating the rest of the planet by fraudulently borrowing $106.8 Trillion from the future Americans so that the current Americans buy stuff with this fraudulently borrowed money.


This fraud will likely produce the biggest economic depression since "The Great Depression" when USAPonzi implodes. I predict that the implosion of USAPonzi will cause the failure of most of the banks in the United States. And just recently, it was announced that essentially all major banks, including JPMorgan, passed the Federal Reserve stress tests with flying colors!


Something is wrong with this picture!


I contend that "Jamie Dimon has NO CLUE of what is really happening in our economy and our financial system"! We definitely need for someone in the U.S. Government to muster up enough courage to tell Jamie Dimon that he and his bank are in for a very difficult time when USAPonzi implodes!


We are living in a Ponzi economy that has introduced $106.8 Trillion of imaginary-counterfeit money into the global financial system and has fraudulently given this $106.8 Trillion of imaginary-counterfeit money to the U.S. upper class.


Is it any wonder that the lower-class citizens in America and throughout the planet are frustrated with the U.S. Government!


Yes Jamie, it is 'almost an embarrassment to be an American' when our Government is prepared to commit fiscal and accounting fraud for 48 years to gain economic, financial, political, and military advantage over the rest of the planet!

 

National Debt  $20.0 Trillion 
Cash Deficit in FY2017  $0.67 Trillion 
GAAP Deficit in FY2017 
$5.54 Trillion 
US Unfunded Future Liabilities  $86.8 Trillion 
US Unfunded Liabilities (GAAP)  $106.8 Trillion 
Imaginary-Counterfeit Money 
$106.8 Trillion 
Total National Assets 

$132.5 Trillion 

Source: www.usdebtclock.org Jul 18, 2017


This U.S. Government fraud can only be equitably eliminated by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government.


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 is the biggest ($106.8 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and it is "The Biggest Ponzi Scheme on the Planet"!


John W. White

Plano, TX