Open Letter to Planet Earth 2/13/17
February 13, 2017 Emailed to WSJ/NYT/DMN on 2/13/17
The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that explains how the U.S. Government is using a fraudulent fiscal policy and accounting system to dramatically enhance the lifestyle of Americans, to dramatically enrich the U.S. ruling class, to colossally enrich the U.S. upper class, to colossally cheat the Common Man, and to colossally cheat the rest of the planet.
Open Letter to Planet Earth 2/13/17
February 13, 2017
This is an open letter to the citizens of planet Earth to inform you that the U.S. Government is corrupt and that The Senior Members of the U.S. Government are Criminals.
The U.S. Government is operating with a Ponzi scheme fiscal policy that is borrowing monopoly money from the future Americans and giving it to the current Americans. The U.S. Government tries to conceal the magnitude of this fraudulent borrowing by using a fraudulent accounting system. The U.S. Government is operating with Cash Accounting rather than the proper GAAP Accounting (Generally Accepted Accounting Principles).
The U.S. Government borrows this monopoly money, I call it imaginary-counterfeit money, by deferring public liabilities to future Americans and undertaxing the current Americans. This borrowed money is imaginary because the U.S. Government imagines that the future Americans can pay it but it is counterfeit because the future Americans can never pay it. This is what makes this fiscal policy a fraud and a Ponzi scheme. GAAP basis deficit spending creates imaginary-counterfeit money.
Because the U.S. Government is not using GAAP (Accrual) Accounting, they are not accruing the funds required to pay the future Government benefit promises. The U.S. Government has underfunded the U.S. Government benefit promises to the Common Man by $85.1 Trillion and has undertaxed the U.S. upper class by $105.1 Trillion. The U.S. Government is colossally cheating the Common Man and colossally enriching the U.S. upper class.
The U.S. Government is colossally cheating the Common Man by promising U.S. Government benefits but not adequately funding these benefit promises, creating U.S. Unfunded Future Liabilities of $85.1 Trillion.
The U.S. Government is enriching the U.S. ruling class by paying them more than the current Americans have paid in taxes, creating National Debt of $20.0 Trillion.
The U.S. Government is colossally enriching the U.S. upper class by undertaxing them by $105.1 Trillion, creating US Unfunded Liabilities (GAAP) of $105.1 Trillion and giving the U.S. upper class $105.1 Trillion of imaginary-counterfeit money. This is what creates the wealth and income gap, the U.S. Government fiscal and accounting fraud that I have named USAPonzi!
The U.S. Government is colossally cheating the rest of the planet by borrowing $105.1 Trillion of imaginary-counterfeit money from the future Americans so the current Americans can buy stuff from the rest of the planet with this monopoly money.
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|| $85.1 Trillion
|US Unfunded Liabilities (GAAP)
|| $105.1 Trillion
| Total National Assets
Source: www.usdebtclock.org February 13, 2017
This U.S. Government fiscal and accounting 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 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 have-nots 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 website in PDF format.
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