USAPonzi-The Biggest Ponzi Scheme on the Planet-The U.S. Government

                    Copyright Declaration                                                                                                                                       John W. White    March 29, 2013

Lebron James $Billion Man by US Gov Fraud 210729
July 29, 2021
Emailed to United Nations, Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/CNBC/DMN on 7/29/21


I am a whistleblower! The U.S. Government is corrupt!


The
corrupt U.S. Government is printing an infinite supply of counterfeit money to fraudulently enrich the U.S. upper class and make LeBron James and Michael Jordan counterfeit billionaires!


LeBron James
and Michael Jordan are sports billionaires because the U.S. Government is corrupt! LeBron James could be the last sports billionaire if the corruption within the U.S. Government is exposed fairly soon!


The net worth of both LeBron and Michael will be essentially ZERO when this U.S. Government corruption is exposed!


Sportico-
The Business of Sports
LEBRON JAMES IS THE NBA’S FIRST $1 BILLION MAN. HE WON’T BE THE LAST
BY KURT BADENHAUSEN 

July 22, 2021
 


Space Jam: A New Legacy opened this past weekend to tepid reviews—no different than the original 1996 cult classic—but moviegoers embraced the family-friendly fare. The movie’s star and producer, LeBron James, gloated a bit on Twitter after reports of a $32 million weekend at the box office. The project was seven years in the making for James, who put himself in position to be compared to Michael Jordan on screen after nearly two decades of endless comparisons on the court.


James, 36, will be hard-pressed to beat MJ’s six NBA titles—he trails by two—but he already tops Jordan in another category—first NBA player to crack $1 billion in career earnings while still active. Jordan fell short of $1 billion during his playing career, even adjusted for inflation. Don’t shed a tear for MJ, though. His highest annual earnings have come in retirement, thanks to skyrocketing revenue at Nike’s Jordan Brand, and Jordan’s total earnings are now roughly $2 billion since he left Chapel Hill for the NBA in 1984.


LeBron and Michael have become billionaires because the corrupt U.S. Government is not using proper GAAP Accounting to accrue the money to pay future benefits to the U.S. general public!


The corrupt U.S. Government is fraudulently borrowing an infinite amount of counterfeit money from the future Americans, so far $154.4 Trillion, and giving it to the U.S. upper class so we can pay our elite athletes $millions per year!


This is fraud because the future Americans do not have $154.4 Trillion!


Because of the way this
fraud works, pro-athlete-pay has been going up for the last 52 years! I estimate that when Michael retired in 1993, the corrupt U.S. Government had printed about $10 Trillion of counterfeit money and as of today the corrupt U.S. Government has printed $154.4 Trillion of counterfeit money (See the chart below)!


Michael made his big money from this accounting fraud after he retired when Nike went crazy selling expensive tennis shoes to people with now $154.4 Trillion of counterfeit money!


I am a whistleblower! The U.S. Government is corrupt!


The corrupt U.S. Government is “cooking the books”!


The corrupt U.S. Government is not operating its fiscal policy according to proper and Generally Accepted Accounting Principles (GAAP Accounting)!


The corrupt U.S. Government is
fraudulently borrowing an infinite amount of counterfeit money, so far $154.4 Trillion, from the future Americans and giving it to the U.S. upper class which is making LeBron and Michael appear to be billionaires!


The Criminals in Washington are causing pro-athlete-pay to “go to the moon” by “cooking the books”!


The corrupt U.S. Government is promising and paying benefits to the U.S. general public but is not using proper and Generally Accepted Accounting Principles (GAAP Accounting) to accrue the money to pay future benefits!


The U.S. general public is getting cheated, so far by $125.8 Trillion (US Unfunded Future Liabilities), because the corrupt U.S. Government is not accruing for future benefits and these future benefits for the U.S. general public are now unfunded!


The U.S. upper class is getting enriched, so far by $154.4 Trillion (US Unfunded Liabilities (GAAP)), because the corrupt U.S. Government is not accruing for future benefits and the U.S. upper class has been undertaxed by $154.4 Trillion!


Because of this U.S. Government fiscal and accounting fraud, the U.S. upper class is getting filthy rich and the U.S. general public is getting screwed! Giving the U.S. upper class $154.4 Trillion of counterfeit money has made it possible for us to award outrageous multi-year contracts to our elite athletes


Because the U.S. Government is not using proper GAAP Accounting, the corrupt U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is fraudulently borrowing an infinite amount of money from the future Americans, I call it imaginary-counterfeit money, and giving it to the current Americans, primarily the U.S. upper class, so LeBron and Michael can fraudulently become billionaires!


This is fraud because the corrupt U.S. Government is borrowing money from the future Americans that the future Americans do not have! This is not a small fraud! The corrupt U.S. Government has already fraudulently borrowed $154.4 Trillion of imaginary-counterfeit money (US Unfunded Liabilities (GAAP)) from the future Americans so we can pay our elite athletes $Millions a year to simply play a game!


When this fraud is exposed, athletes will be making $Thousands rather than $Millions!


The following chart gives a graphical projection of how the corrupt U.S. Government could fraudulently borrow as much as a Quadrillion dollars (a thousand Trillion dollars) of imaginary-counterfeit money from the future Americans over the next three decades and give it to the U.S. upper class so we can pay our athletes a whole-hell-of-a-lot more than we foolishly and fraudulently do today!






The corrupt U.S. Government needs to understand that GAAP basis deficit spending by the U.S. Government prints imaginary-counterfeit money and gives it to the U.S. upper class, which causes extreme wealth and income for the elite, oppresses the unelite, allows Americans to buy stuff with monopoly money, causes Global Warming and the Coronavirus Pandemic, and makes LeBron and Michael counterfeit billionaires!


The corrupt U.S. Government is lying to and cheating the U.S. general public by promising but not funding future benefits so they can enrich the U.S. upper class with trillions of imaginary-counterfeit money so we can pay our athletes a whole lot more than they are worth!


The U.S. general public is not going to be happy when they find out that they have been being cheated for the last 52 years so that LeBron and Michael could fraudulently become billionaires!


The corrupt U.S. Government is operating its fiscal policy with Cash Accounting rather than proper GAAP Accounting to make LeBron and Michael counterfeit billionaires!

 

US National Debt  $28.6 Trillion 
Cash Deficit in FY2021  $3.19 Trillion 
GAAP Deficit in FY2021 
$17.12 Trillion 
US Unfunded Future Liabilities  $125.8 Trillion 
US Unfunded Liabilities (GAAP)  $154.4 Trillion 
Imaginary-Counterfeit Money 
$154.4 Trillion 
US Total National Assets 

$174.9 Trillion 

Source: www.usdebtclock.org July 29, 2021


I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain USAPonzi and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can also be downloaded from my www.usaponzi.net website.


John W. White

Plano, TX