Oswald made the Dallas Cowboys faux valuable!
July 14, 2016
"Dallas Cowboys Head The World's 50 Most Valuable Sports Teams of 2016!"
The above headline is typical of the distortion that is being caused by U.S. Government fiscal and accounting fraud. The U.S. Government is running a Ponzi scheme that has appeared to make the U.S. upper class very, very rich by borrowing $102.8 Trillion from the future U.S. taxpayers. If the future U.S. taxpayers can just come up with that $102.8 Trillion then the Dallas Cowboys would be worth $4 Billion but since they cannot, the Dallas Cowboys are worth almost nothing, the $1.15 Billion Cowboy Stadium is worth almost nothing, and the new $1.5 Billion Dallas Cowboys Headquarters is worth almost nothing.
The U.S. Government is using Cash Accounting rather than the proper GAAP Accounting and as a result has deferred $102.8 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future U.S. taxpayers thereby undertaxing the U.S. upper class by $102.8 Trillion making them appear to be very, very rich. The faux rich U.S. upper class can therefore have lots of faux money, $102.8 Trillion is a lot of money, to spend on outlandish and opulent living (See How Much Money is 2.5 Trillion Dollars?).
All Americans get to benefit from this U.S. Government fraud that I call USAPonzi so they can buy houses, cars, planes, boats, smartphones, oil, gas, and pay exorbitant prices for tickets to sports and other entertainment events. But they are making these purchases mostly with the money that the U.S. Government is borrowing from the future U.S. taxpayers.
As I explain in my book, "USAPonzi", this Ponzi scheme was started because Oswald shot JFK and got a scoundrel LBJ into the White House. LBJ then convinced Congress to adopt the Unified Budget that used Cash Accounting to produce this Ponzi scheme. The GAAP basis deficit spending of USAPonzi has created $102.8 Trillion of what I call imaginary-counterfeit money. It is imaginary because the U.S. Government imagines that the future U.S. taxpayers will pay these deferred public liabilities but it is counterfeit because the future U.S. taxpayers of course can never pay $102.8 Trillion.
The U.S. Government is creating imaginary-counterfeit money out of "thin air" by borrowing it from the future U.S. taxpayers! (See The Theory of Imaginary Money).
The Dallas Cowboys are therefore worth 4 Billion imaginary-counterfeit dollars but these dollars are counterfeit because they have been borrowed from the future U.S. taxpayers so the Dallas Cowboys are, in real money terms, worth almost nothing.
The U.S. and global upper class is Getting Rich on Borrowed Money.
The U.S. and global economy is headed toward a massive global depression when USAPonzi implodes (See The Implosion of USAPonzi).
The U.S. Government has been playing tricks on the entire planet by committing this fiscal and accounting fraud for now more than 47 years.
The www.usdebtclock.org website shows the following estimates of the distortion caused by using Cash Accounting vs. the proper GAAP Accounting.
|Cash Deficit in FY2016
|GAAP Deficit in FY2016
|Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
Source: www.usdebtclock.org Jul 14, 2016
USAPonzi is 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 format and on www.usaponzi.com in PDF format.
This is the biggest ($102.8 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet".