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

LBJ Fooled a Planet of Fools
March 2, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, and Senator Ted Cruz on 3/2/18


The following is an Op-Ed to “The Wall Street Journal”, “The New York Times”, “The Washington Post”, and “The Dallas Morning News” that explains how LBJ Fooled a Planet of Fools!


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”!


The “news media” is aiding and abetting the corrupt and criminal U.S. Government by refusing to report this fiscal and accounting fraud!


LBJ Fooled a Planet of Fools

March 2, 2018


In this commentary, I will explain how LBJ (Lyndon Baines Johnson) fooled a Planet of Fools!


In January of 1968, Lyndon Baines Johnson convinced the 90th Congress to adopt the “Unified Budget”! This single action by the U.S. Congress has dramatically changed the course of history! It is not clear to me whether LBJ pushed for this change by accident not realizing the accounting implications or as an elegantly orchestrated intentional fraud!


History will treat LBJ more kindly if it is determined that this change (adopting the Unified Budget) was made by accident by a foolish President and a hoodwinked Congress.


Almost everyone on the planet has been fooled by this fiscal and accounting fraud, primarily because they just cannot believe that the U.S. Government would commit a fraud of this magnitude (currently $112.2 Trillion)!


The problem is, the corrupt and criminal U.S. Government has continued this fiscal and accounting fraud for more than 48 years! The U.S. Government has been perpetrating this fraud since FY1969 and it still has not been exposed! The U.S. upper class has been given $112.2 Trillion of imaginary-counterfeit money because of this fraud so they are happy to let this fraud continue!


What the Unified Budget has done is allow the U.S. Government to get their hands on the tax revenue being paid in for future U.S. Government benefits and spend this money in the current fiscal year. The U.S. Government has, since FY1969, made the decision to spend all incoming tax revenue as soon as it arrives and defer the cost of future U.S. Government benefit promises to the future Americans! And then they borrow some more money from the future Americans to overpay the U.S. ruling class!


In accounting terminology, this means the U.S. Government is operating with Cash Accounting rather than proper and Generally Accepted Accounting Principles (GAAP Accounting)!


In the terminology of U.S. general public, this means that the U.S. Government is overpaying the U.S. ruling class, colossally enriching the U.S. upper class, cheating the hell out of the U.S. Common Man, and cheating the hell out of the rest of the Planet!


By operating under the Unified Budget;


1) the U.S. Government has fraudulently borrowed $112.2 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans, money the future Americans do not have, and given it to the U.S. upper class. I call this fraudulently borrowed money imaginary-counterfeit money! The U.S. Government imagines (pretends) that the future Americans can pay this money sometime in the future so it is imaginary but the future Americans can never pay it so it is counterfeit!


2) the U.S. Government has overpaid the U.S. ruling class and incurred $20.8 Trillion of National Debt.


3) the U.S. Government has made promises of future U.S. Government benefits to the U.S. general public of $91.4 Trillion (US Unfunded Future Liabilities) that have not been properly funded (accrued for in a trust fund)!


4) the U.S. Government has fraudulently borrowed $112.2 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans, money the future Americans do not have, and given it to the current Americans so that the current Americans can buy things with this $112.2 Trillion of fraudulently borrowed money. Again, I call this fraudulently borrowed money imaginary-counterfeit money. The rest of the planet is being cheated because the current Americans are buying stuff from them with imaginary-counterfeit money!


GAAP basis deficit spending digitally prints imaginary-counterfeit money! Every dollar of GAAP basis deficit spending becomes an imaginary-counterfeit dollar in the pocket of the person or business that did not have to play that tax dollar.


Because of the Unified Budget, the U.S. Government is borrowing money, $112.2 Trillion (US Unfunded Liabilities (GAAP)) so far, from the future Americans, money that the future Americans do not have, and giving it to the current Americans! This is a classic $112.2 Trillion Ponzi scheme. This is a $112.2 Trillion fiscal and accounting fraud that is being perpetrated by the U.S. Government! I have named this fraud/Ponzi scheme USAPonzi!


LBJ pulled a fast one in January of 1968 by pushing through the Unified Budget which in simple terms means that the U.S. Government is borrowing money from the future Americans, money that the future Americans do not have, and giving it to U.S. upper class! The U.S. Government is digitally printing imaginary-counterfeit money, by fraudulently borrowing money from the future Americans, and giving it to the U.S. upper class!


The U.S. Government has created $112.2 Trillion of imaginary-counterfeit money out of “thin air” by pretending like the future Americans can pay $112.2 Trillion of public liabilities by stealthily and fraudulently borrowing money from the future Americans, money that the future Americans do not have, and giving it to the U.S. upper class! The U.S. Government really, really likes the U.S. upper class!


LBJ has fooled a Planet of Fools (or Scoundrels) for 48 years!


It is time that we acknowledge and terminate this fraud!


The corrupt and criminal U.S. Government is running a classic $112.2 Trillion Ponzi scheme (USAPonzi)!


The corrupt and criminal U.S. Government is being run by either a bunch of fools or a bunch of criminals! Take your pick!


We must demand that the U.S. Government start using honest accounting (GAAP Accounting) so that the U.S. Common Man and the rest of the planet can effectively compete with the U.S. upper class!


USAPonzi
is enriching the U.S. upper class and screwing the U.S. Common Man and the rest of the planet!


The U.S. Government must adopt GAAP Accounting and balance the GAAP basis budget to create a level economic playing field for all of the citizens of Planet Earth!


The corrupt and criminal U.S. Government is committing fiscal and accounting fraud to give the appearance of  “Wealth and Prosperity in America”! The U.S. upper class is the primary beneficiary of this appearance of wealth and prosperity! This is why we have a wealth and income gap! $112.2 Trillion of imaginary-counterfeit money can create quite a large wealth and income gap!


The U.S. Government really, really likes the U.S. upper class because they are now part of this privileged class!


The “news media” is aiding and abetting this criminal act by the U.S. Government by refusing to expose this fiscal and accounting fraud!

 

National Debt  $20.8 Trillion 
Cash Deficit in FY2018  $0.72 Trillion 
GAAP Deficit in FY2018  $5.99 Trillion 
US Unfunded Future Liabilities  $91.4 Trillion 
US Unfunded Liabilities (GAAP)  $112.2 Trillion 
Imaginary-Counterfeit Money  $112.2 Trillion 
Total National Assets  $135.7 Trillion 

Source: www.usdebtclock.org Mar 2, 2018


To eliminate this fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.


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), “USAPonzi2” (May 1, 2017), and “USAPonzi3” (Feb 1, 2018) which are available on Amazon to better explain this fraud/Ponzi scheme.


This is the biggest ($112.2 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