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

Open Letter to Planet Earth 180501
May 1, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, and Senator Ted Cruz on 5/1/18


The following is an Op-Ed to “The Wall Street Journal”, “The New York Times”, “The Washington Post”, and “The Dallas Morning News” that is an “Open Letter to Planet Earth” which explains how the  corrupt and criminal U.S. Government is committing fiscal and accounting fraud to dramatically enrich the U.S. ruling class, to colossally enrich the U.S. upper class, to colossally cheat the U.S. general public, and to colossally cheat the rest of the planet! 


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 “colossally 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!


Open Letter to Planet Earth 180501
May 1, 2018


This is an open letter to the citizens of Planet Earth to inform you that the U.S. Government is committing fiscal and accounting fraud by not operating its fiscal policy with accrual accounting! The U.S. Government is promising unreasonable and unaffordable U.S. Government benefits to the U.S. general public and is not properly accruing the money to pay for these future benefits! This accounting fraud is enriching the U.S. upper class and cheating the U.S. general public!


The U.S. upper class gets rich because they don't have to pay for these future benefits and the U.S. general public gets cheated because they have been hoodwinked into thinking they are going to get future benefits that the corrupt and criminal U.S. Government has not accrued for and therefore has no intention or capability to pay!


The U.S. Government is corrupt!


The U.S. Government is committing a fiscal and accounting fraud that is fraudulently enriching the U.S. upper class by $113.0 Trillion and cheating the U.S. general public by $91.8 Trillion!


The U.S. Government is committing a fiscal and accounting fraud, I call it USAPonzi, that is 2,000 times larger than the Madoff, Enron, and Worldcom frauds!


USAPonzi is a $113.0 Trillion fraud!


The U.S. Government is not using proper accrual accounting (GAAP Accounting) and therefore is underaccruing for future benefits to the U.S. general public by $91.8 Trillion while undertaxing the U.S. upper class by $113.0 Trillion!


The U.S. Government has deferred $113.0 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans so that it can undertax and enrich the U.S. upper class by $113.0 Trillion!


Because the U.S. Government is not using accrual accounting, the U.S. Government has borrowed $113.0 Trillion from the future Americans, money the future Americans do not have, and given it to the U.S. upper class by undertaxing them! The U.S. Government is pretending/imagining that the future Americans can pay $113.0 Trillion of public liabilities which of course they cannot! This is a $113.0 Trillion fraud!


The U.S. Government is promising unreasonable and unaffordable future benefits to the U.S. general public and is not properly accruing for these future benefits which means that the U.S. Government is lying to the U.S. general public by promising them unsustainable future benefits and is underfunding these benefits by $91.8 Trillion!


The U.S. general public is paying taxes to fund these future benefits and the U.S. Government is cheating the U.S. general public by spending that money for other purposes! The U.S. general public has, for the last 49 years, been paying in good money to pay for future Social Security and healthcare benefits and the U.S. Government has spent all of that money rather than accruing it in a trust fund for future benefit payments!


The U.S. Government is running a $113.0 Trillion Ponzi scheme that I have named USAPonzi!


The senior officials of the U.S. Government are common criminals that have committed a $113.0 Trillion criminal act by not using accrual accounting!


The U.S. Government has given the U.S. upper class $113.0 Trillion (US Unfunded Liabilities (GAAP)) by fraudulently undertaxing them!


The U.S. Government has overpaid the U.S. ruling class by $21.2 Trillion (National Debt) by borrowing this money from the fraudulently enriched upper class!


The U.S. Government has cheated the U.S general public because it has promised the U.S. general public $91.8 Trillion (US Unfunded Future Liabilities) of future U.S. Government benefits that it has not funded!


The U.S. Government has cheated the rest of the planet because the U.S. Government has given the current Americans $113.0 Trillion of imaginary-counterfeit money by undertaxing them so that the current Americans can buy stuff from the rest of the planet without having to pay for it!


The corrupt and criminal U.S. Government is borrowing money, $113.0 Trillion so far, from the future Americans, money that the future Americans do not have, and is giving it to the U.S. upper class! GAAP basis deficit spending digitally prints imaginary-counterfeit money at the rate of $16.4 Billion a day and gives it to the U.S. upper class (GAAP Deficit in FY2018 = $6.01T/365 = $16.4B/day)!


The U.S. Government is committing fiscal and accounting fraud by not using accrual accounting so that it can enrich the U.S. upper class by $113.0 Trillion, short change the U.S. general public by $91.8 Trillion, overpay the U.S. ruling class by $21.2 Trillion, and allow Americans to buy stuff with $113.0 Trillion of monopoly money!


Because of this fiscal and accounting fraud that I call USAPonzi, the upper class is getting rich, prices have gone up for everything, the stock market goes up, the global economy looks very strong, and we are filling the planet with useless and sometimes dangerous junk like cars, trucks, airplanes, trains, ships, banks, restaurants, houses, condos, apartments, hotels, medical facilities, office buildings, warehouses, sports arenas, stores, malls, cities, airports, guns, and bombs simply because this accounting fraud is digitally printing monopoly money with GAAP basis deficit spending!


Americans are buying stuff with $113.0 Trillion of imaginary-counterfeit money (monopoly money)!


Because of this fiscal and accounting fraud that I call USAPonzi, the corrupt and criminal U.S. Government is borrowing money from the future Americans, money that the future Americans do not have, and giving it to the U.S. upper class! This has created the wealth and income gap! I call this fraudulently borrowed money, imaginary-counterfeit money!


Madoff, Enron, and Worldcom got away with this kind of accounting fraud for years, even decades, and now the corrupt and criminal U.S. Government has been committing fiscal and accounting fraud for nearly a half century!


The USAPonzi
fraud is 2,000 times larger than the Madoff, Enron, and Worldcom frauds!


The U.S. Government is filled with scoundrels, liars, cheaters, and criminals that are running a massive Ponzi scheme because they are not operating the U.S. Government fiscal policy with proper accrual accounting!


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

 

National Debt   $21.2 Trillion  
Cash Deficit in FY2018   $0.74 Trillion  
GAAP Deficit in FY2018   $6.01 Trillion  
US Unfunded Future Liabilities   $91.8 Trillion  
US Unfunded Liabilities (GAAP)   $113.0 Trillion  
Imaginary-Counterfeit Money   $113.0 Trillion  
Total National Assets   $138.7 Trillion  

Source: www.usdebtclock.org May 1, 2018


This fraud/Ponzi scheme (USAPonzi) is explained in much more detail on my websites www.usaponzi.net and www.usaponzi.com and in my books “USAPonzi”, “USAPonzi2”, and “USAPonzi3”!


This is the biggest ($113.0 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