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

US Navy Accidents are caused by U.S. Government Fraud!
August 24, 2017     Emailed to WSJ/NYT/DMN on 8/24/17


The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that explains why we are seeing so many accidents involving the US Navy!


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".


US Navy Accidents are caused by U.S. Government Fraud!
 
August 24, 2017


U.S. Officials Say Navy Commander Will Be Removed in Wake of Accidents


In this commentary, I will explain why we are seeing so many accidents involving the US Navy. I contend that these US Navy accidents are caused by U.S. Government fiscal and accounting fraud!


The U.S. Government is perpetrating an accounting fraud, that I call USAPonzi, by using Cash Accounting rather than the proper GAAP Accounting. This fraud has created $107.2 Trillion of imaginary-counterfeit money by borrowing money from the future Americans that the future Americans do not have and giving it to the current Americans.


Author's Note: Because of this fraud/Ponzi scheme it is necessary that the U.S. Government continually increase the U.S. debt limit! Raising the U.S. debt ceiling is just a technicality that the U.S. Government must perform periodically to allow this fraud/Ponzi scheme to continue to operate! With the current fiscal policy, Congress should raise the debt limit to $107.2 Trillion!


This fraud has dramatically increased the apparent wealth of America relative to the rest of the planet and has dramatically increased the apparent wealth of the U.S. upper class relative to the rest of the Americans. This fraud has also caused the U.S. economy to be dramatically over stimulated, creating not only apparent wealth for Americans but also apparent economic prosperity in America. The U.S. GDP is dramatically elevated because of this accounting fraud.


The current upper-class Americans are appearing to get rich by the U.S. Government fraudulently borrowing money from the future Americans and giving it to the U.S. upper class. More income/wealth for Americans means more tax revenue and more apparent income for the U.S. Government which means more spending by the U.S. Government which means we can buy more military equipment because we have more apparent income. But the U.S. Government is "spending" a lot more than it is reporting by spending on a GAAP basis and reporting on a Cash basis.


This fiscal and accounting fraud has fraudulently created $107.2 Trillion of imaginary-counterfeit money and given it to the U.S. upper class by deferring public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans. Then the U.S. Government borrows money from the now fraudulently enriched U.S. upper class to overpay itself, to overpay the government benefit recipients, and to overspend on the US Military.


The people of the United States and the rest of the planet are spending imaginary-counterfeit money ($107.2 Trillion) that the U.S. Government has fraudulently borrowed from the future Americans.


As a result;


we are filling our cities and country sides with housing purchased with money that the U.S. Government has fraudulently borrowed from the future Americans,


we are filling our roads with cars and trucks purchased with money that the U.S. Government has fraudulently borrowed from the future Americans,


we are filling our skies with airplanes purchased with money that the U.S. Government has fraudulently borrowed from the future Americans,


and we are filling our seas with ships purchased with money that the U.S. Government has fraudulently borrowed from the future Americans.


By deferring $107.2 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans, the U.S. Government has given the current Americans $107.2 Trillion of imaginary-counterfeit money! The U.S. Government has created $107.2 Trillion out of "thin air" and given it to the U.S. upper class because the U.S. upper class should be paying the taxes to cover this U.S. Government "spending". The U.S. Government is dramatically undertaxing the U.S. upper class which is enriching the U.S. upper class by $107.2 Trillion.


Because this fraud is creating an exponentially increasing amount of imaginary-counterfeit money by borrowing it from the future Americans, we are trending toward acquiring an infinite number of houses, cars, trucks, airplanes, and ships.


The U.S. Government is fraudulently borrowing an unending and exponentially increasing amount of money from the future Americans, that the future Americans do not have, so the current Americans and the U.S. Government can buy stuff they cannot afford!


This ever-increasing number of cars, trucks, airplanes, and ships is creating traffic jams on land, in the air, and on the sea. More traffic means more congestion and more accidents. While the traffic jams on land are much more visible, we are moving a whole hell of a lot of cargo by air and sea by purchasing goods with $107.2 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans.


This massive accounting fraud has fraudulently put a lot of ships at sea, both cargo ships and US Navy ships, and there are so many US Navy ships they do not have well trained crews. When we buy US Navy ships with imaginary-counterfeit money that the U.S. Government is creating out of "thin air" we essentially have "imaginary ships" that need "real crews"!


This is likely the key issue that is contributing to these US Navy accidents, the money spent on the US military appears to be out of balance. We are spending more on military equipment than can be supported by the spending for personnel and training to properly maintain and operate our military equipment.


The U.S. Government is spending far, far more than we can afford on our military because of this accounting fraud and we do not have an appropriately balanced military budget to properly operate the US military equipment that has been fraudulently acquired with this imaginary-counterfeit money. The leader of the Pacific fleet was relieved of his duty because of U.S. Government fiscal and accounting fraud.


Digitally printing an infinite amount of imaginary-counterfeit money means we can appear to buy an infinite number of houses, cars, trucks, airplanes, and ships!


Digitally printing an infinite amount of imaginary-counterfeit money means we can appear to buy an infinite amount of military equipment!


The U.S. Government must begin operating with proper and sustainable accounting principles. GAAP Accounting and a balanced GAAP basis budget are a must. This will restrict the spending and promising to spend by the U.S. Government to a level that can be paid for by the U.S. taxpayers. GAAP Accounting reports that, as of August 24, 2017, the U.S. Government has spent and promised to spend $107.2 Trillion more than the U.S. taxpayers can afford! The U.S. Government currently has US Unfunded Liabilities (GAAP) of $107.2 Trillion.


These US Navy accidents are tending to happen because of U.S. Government fiscal and accounting fraud that is overcrowding our seas and the military is not able to appropriately provide and train the personnel because they do not have enough people and training money to properly manage and operate the military equipment that has been fraudulently acquired. When we are buying military equipment with imaginary-counterfeit money that is increasing exponentially, we can soon have a lot of unaffordable and unsupportable military equipment in the U.S. arsenal!


The U.S. Government has dramatically distorted the global financial system and the global economy by using improper accounting. The U.S. Government has printed $107.2 Trillion of imaginary-counterfeit money by deferring $107.2 Trillion of public liabilities to the future Americans.


This U.S. Government fiscal and accounting fraud is causing traffic congestion on land, in the air, and on the sea.


This fraud has allowed the U.S. Government to grossly overspend on the U.S. military! The U.S. Government has created $107.2 Trillion of imaginary-counterfeit money out of "thin air"!


The U.S. Government has produced the most powerful military force on the planet by using fraudulent accounting and the amount spent on the military is continuing to increase because we are fraudulently borrowing more money from the future Americans every day ($15.12 Billion per day) with GAAP basis deficit spending. $107.2 Trillion of imaginary-counterfeit money is a lot of money (See How Much Money is $2.5 Trillion)!


The U.S. Government has got to start telling the financial truth!


The "News Media" has got to start reporting the financial truth!

 

National Debt  $20.0 Trillion 
Cash Deficit in FY2017  $0.68 Trillion 
GAAP Deficit in FY2017 
$5.52 Trillion 
US Unfunded Future Liabilities  $87.2 Trillion 
US Unfunded Liabilities (GAAP)  $107.2 Trillion 
Imaginary-Counterfeit Money 
$107.2 Trillion 
Total National Assets 

$133.4 Trillion 

Source: www.usdebtclock.org Aug 24, 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 ($107.2 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