Las Vegas-A Glitzy City built on Fraud!
February 9, 2017 Emailed to WSJ/NYT/DMN 2/9/17
The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that provides further explanation of the Ponzi scheme fiscal policy (USAPonzi) that the U.S. Government has been operating since FY1969 and how this Ponzi scheme has created the City of Las Vegas!
Las Vegas-A Glitzy City built on Fraud!
February 9, 2017
The criminals in the U.S. Government have created the City of Las Vegas, Nevada with fiscal and accounting fraud.
Las Vegas will become a "Ghost Town" when USAPonzi implodes!
The U.S. Government has borrowed $105.1 Trillion of monopoly money from the future Americans and given it to the U.S. upper class so that they and their elite friends from around the Planet can go to Las Vegas and spend their monopoly money on lavish living and entertainment. Yes, the Common Man can go to Las Vegas and observe the lavish living and even participate in a modest way, but it is the ill gotten wealth of the Upper Class that "pays" for this fantasy city.
The U.S. Government is corrupt! The senior U.S. Government officials are criminals! The U.S. Government is using fraudulent accounting by using Cash Accounting rather than the proper GAAP Accounting! The U.S. Government is operating a $105.1 Trillion Ponzi scheme! The U.S. Government is fraudulently elevating the lifestyle of all current Americans by borrowing monopoly money from the future Americans to give to the current Americans!
The U.S. Government is fraudulently enriching the U.S. ruling class! The U.S. Government is fraudulently and colossally enriching the U.S. upper class by dramatically undertaxing them! The U.S. Government is fraudulently and colossally cheating the U.S. Common Man by promising them benefit payments but not adequately funding them! The U.S. Government is fraudulently and colossally cheating the rest of the planet by borrowing monopoly money from the future Americans so the current Americans can buy things from the rest of the planet with this monopoly money!
The U.S. Government has been committing this crime for 48 years. The magnitude of this crime is shown in the following table as US Unfunded Liabilities (GAAP) which is the amount of imaginary-counterfeit money, now $105.1 Trillion, that the U.S. Government has fraudulently borrowed from the future Americans.
The Common Man can only be envious of these elite citizens of the Planet that can afford to go to Las Vegas and splurge on lavish living but almost all of these folks are only able to enjoy this lavish living because the U.S. Government is corrupt. The U.S. Government has chosen to enrich themselves and their upper class friends by using fiscal and accounting fraud to cheat the Common Man and the rest of the planet.
The Economic Divide would be much much narrower between the Upper Class and the Common Man if the U.S. Government was using honest accounting.
But until integrity is restored in Washington D.C., the Upper Class should be able to have a nice party on $105.1 Trillion of ill gotten gains.
I have explained how Las Vegas was built on U.S. Government fraud and corruption in a previous commentary: Las Vegas-A Coming Ghost Town!
This crime gets bigger and bigger every day that it continues.
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|| $105.1 Trillion
|Total National Assets
Source: www.usdebtclock.org February 9, 2017
The only way to eliminate this fraud is to adopt GAAP Accounting and commit to a balanced GAAP basis budget.
I have published another website www.usaponzi.net that I think better explains how this fraud works to create a massive global wealth and income gap between the haves and the havenots and to create false wealth and prosperity for the current Americans.
This fraud is explained in CliffsNotes format (USAPonzi CliffsNotes) and is also explained in much more detail on my website www.usaponzi.com and in my book “USAPonzi” which is available on Amazon in Kindle and Paperback formats and on my www.usaponzi.net website in both Kindle and PDF formats.
This is the biggest ($105.1 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