Saudi Wealth produced by U.S. Fraud
November 8, 2017 Emailed to WSJ/NYT/DMN on 11/8/17
The following is an Op-Ed to “The Wall Street Journal”, “The New York Times” and “The Dallas Morning News” that explains how the massive wealth in Saudi Arabia has been produced by U.S. Government fiscal and accounting fraud!
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”!
Saudi Wealth produced by U.S. Fraud
November 8, 2017
The U.S. Government has produced massive wealth in Saudi Arabia by using fraudulent accounting.
Americans are buying oil from Saudi Arabia with monopoly money!
The U.S. Government is corrupt! The U.S. Government is being run by a bunch of criminals! The U.S. Government is committing fiscal and accounting fraud! The U.S. Government is not using proper GAAP Accounting! The U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is creating money, I call it imaginary-counterfeit money, out of “thin air”!
The U.S. Government, by using fraudulent accounting, has borrowed $108.8 Trillion from the future Americans and given it to the U.S. upper class! The U.S. Government is borrowing money from the future Americans, that the future Americans do not have, to create $108.8 Trillion of imaginary-counterfeit money that it then gives to the U.S. upper class by undertaxing them (US Unfunded Liabilities (GAAP))!
The U.S. Government is not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting). Because the U.S. Government is not using proper accounting, it is making benefit promises to the U.S. general public but is not taxing the U.S. upper class enough to pay for these future benefits.
Because the U.S. Government is using fraudulent accounting, the U.S. Government has fraudulently borrowed $108.8 Trillion of imaginary-counterfeit money from the future Americans and is borrowing another $15.5 Billion of imaginary-counterfeit money from the future Americans every day so that the current Americans can buy oil from Saudi Arabia and other oil producing countries. Americans would not be able to pay $57.23 a barrel, today's price for West Texas Intermediate (WTI), for oil without this $108.8 Trillion that the U.S. Government has fraudulently borrowed from the future Americans.
Since USAPonzi is producing an infinite amount of imaginary-counterfeit money, the price of oil is also trending toward infinity and the Saudi elite can then get really, really wealthy!
It is ironic that the government of Saudi Arabia is now arresting many of the fraudulently enriched upper class in Saudi Arabia on alleged fraud and corruption charges, when the very wealth they are fighting over has been created out of “thin air” by corruption within the U.S. Government. Greed can cause some unusual human behavior especially when there is $108.8 Trillion of imaginary-counterfeit money at stake!
The Saudi Arabia wealth has been produced simply because the corrupt U.S. Government has fraudulently borrowed $108.8 Trillion of imaginary-counterfeit money from the future Americans and given it to the current Americans so that the current Americans can pay outrageous prices for Saudi oil. The only problem is; the future Americans do not have $108.8 Trillion. We are buying oil from Saudi Arabia with monopoly money!
Saudi Arabia is getting rich with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans.
This U.S. Government accounting fraud is dramatically and fraudulently enriching the U.S. ruling class, the U.S. upper class, Donald Trump, Vladimir Putin, and Saudi Arabia!
The U.S. Government is assuming massive and unpayable public liabilities, $108.8 Trillion so far, to fraudulently enrich the private sector!
We have a corrupt U.S. Government that has produced “Imaginary Wealth in Saudi Arabia” simply by using fraudulent accounting!
|Cash Deficit in FY2018
|GAAP Deficit in FY2018
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Nov 8, 2017
To eliminate this fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.
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 fraud/Ponzi scheme is also explained in “short story style” in my October 1, 2017 commentary USAPonzi CliffsNotes and in my October 8, 2017 commentary USAPonzi Elevator Speech.
This is the biggest ($108.8 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
John W. White