Pulling Rabbits out of a Hat!
May 5, 2017 Emailed to WSJ/NYT/DMN on May 7, 2017
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 "pulling rabbits out of a hat" to produce extraordinary wealth for the U.S. upper class.
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".
Pulling Rabbits out of a Hat!
May 5, 2017
The U.S. Government is fraudulently borrowing a geometrically increasing amount of money from the future Americans and giving it to the U.S. upper class. As of May 5, 2017, the U.S. Government has given the U.S. upper class $106.0 Trillion and is giving them $15.29 Billion more every day. This fraud, if it is allowed to continue, will give the U.S. upper class infinite wealth!
No wonder we have a wealth and income gap!!!
This is the greatest magic show on planet earth! The U.S. Government is performing the greatest demonstration of sleight of hand known to man by pulling 106 trillion rabbits out of a hat! The U.S. Government has given the U.S. upper class $106.0 Trillion by pretending like the future Americans can eventually pay $106.0 Trillion of public liabilities. I call these rabbits imaginary-counterfeit money! This money does not exist! This money will never exist! This is an illusion created by a corrupt U.S. Government!
The U.S. Government is committing fiscal and accounting fraud by not using proper accounting! This is a hoax! The senior officials of the U.S. Government are criminals! The global economy and the global financial system are both operating on imaginary-counterfeit money that the U.S. Government has pulled out of a hat! The U.S. Government is not using Generally Accepted Accounting Principles (GAAP Accounting) and therefore is not taxing the U.S. upper class enough to balance the U.S. Government budget. This is a fraud that is making the U.S. upper class very wealthy while cheating the U.S. Common Man by not funding the benefit promises that the U.S. Government has made to the general public.
The U.S. Government is creating massive private wealth (imaginary-counterfeit wealth) by deferring $106 Trillion of unpayable public liabilities to the future Americans. The future Americans have an infinite number of imaginary-counterfeit rabbits so this fraud can continue for a long time. GAAP Accounting reports that the U.S. Government has pulled 106 trillion rabbits out of a hat since 1969.
This is a classic Ponzi scheme, I call it USAPonzi, that is paying the early participants in the scheme with money that is coming in from the late participants in the scheme. Proper GAAP Accounting reports that the indebtedness of this scheme is $106.0 Trillion (US Unfunded Liabilities (GAAP)) as of May 5, 2017.
The U.S. Government is "printing" imaginary-counterfeit money, $106.0 Trillion to date, by deferring unpayable public liabilities to the future Americans and is giving this imaginary-counterfeit money to the U.S. upper class.
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org May 5, 2017
This USAPonzi scheme has produced $106.0 Trillion of imaginary-counterfeit money out of "thin air" by fraudulently borrowing it from the future Americans and giving it to the U.S. upper class by undertaxing the U.S. upper class by $106.0 Trillion on a GAAP Accounting basis. US Unfunded Liabilities (GAAP) = $106.0 Trillion.
This U.S. Government fraud, that I call USAPonzi, 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 USAPonzi scheme 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. My book "USAPonzi" is available on this website in both Kindle and PDF formats.
USAPonzi is the biggest ($106.0 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