The Greatest Depression-The USAPonzi Apocalypse!
November 5, 2016
The implosion of USAPonzi will cause a more serious economic depression than "The Great Depression" of 1929. I predict that "The Greatest Depression" that will occur when USAPonzi implodes will be more catastrophic than "The Great Depression" because of the globalization of the economy and the magnitude of the debt that has been incurred over the last half century. However, the US Unfunded Liabilities (GAAP) of $104.1 Trillion that have been incurred by the U.S. Government because of USAPonzi is the most significant problem for the global economy (See U.S. Total Financial Leverage 4.2X 1929).
The implosion of USAPonzi will be the triggering event for this massive economic depression that I call "The Greatest Depression" so it could also be called "The USAPonzi Apocalypse". The fact that the U.S. Government has fraudulently borrowed $104.1 Trillion from the future Americans and given it to the current Americans is the primary cause of the dramatic financial and economic excesses that have produced an elevated lifestyle for all Americans, an opulent lifestyle for the elite Americans, and an opulent lifestyle for the elite all over the planet.
The U.S. Government has been printing imaginary-counterfeit money since FY1969 with GAAP basis deficit spending that has created an elevated lifestyle for Americans and much of the developed world. The U.S. Government is simply borrowing/stealing imaginary-counterfeit money from the future Americans and giving it to the current Americans. But this is all a giant hoax because the future Americans cannot pay these deferred public liabilities (US Unfunded Liabilities (GAAP)).
This fraud has given the U.S. upper class a gift of $104.1 Trillion of imaginary-counterfeit money simply by undertaxing them. The U.S. Government is operating with a corrupt and fraudulent fiscal policy so that it can given the U.S. upper class $104.1 Trillion, so the U.S. upper class can make huge campaign donations to their favorite politicians and pay huge speaking and books fees to senior U.S. Government officials. The Clintons have dramatically exploited this fraud to amass a personal fortune estimated to be $120 Million and to collect $2 Billion in the Clinton Foundation (See The Clinton Fraud).
USAPonzi has produced this massive pool of $104.1 Trillion of imaginary-counterfeit money simply by borrowing/stealing it from the future Americans with GAAP basis deficit spending. This massive pool of imaginary-counterfeit money can then be shared by the U.S. ruling class and the U.S. upper class.
The U.S. Government has run up a credit card bill of $104.1 Trillion (GAAP Accounting) so that the current Americans can build big houses, buy big cars, buy big airplanes, build nice resorts, and give everyone a car, a TV and a smartphone. The U.S. Government expects the future Americans to pay for all of this stuff.
When the rest of the planet realizes that the United States of America is a fraud and a crook; "the jig is up" and that will trigger "The Greatest Depression". Americans have been writing "hot checks" for most of their purchases since 1969. (See The Implosion of USAPonzi).
A huge percentage of the economic activity around the planet is being produced by the introduction of imaginary-counterfeit money into the global economy by the GAAP basis deficit spending of USAPonzi. So far, the U.S. Government has produced $104.1 Trillion of imaginary-counterfeit money and is producing $15.6 Billion more every day with GAAP basis deficit spending.
When this stash ($104.1T) and flow ($15.6B/day) of imaginary-counterfeit money vanishes, the global economy will come to an abrupt stop, triggering "The Greatest Depression".
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org November 5, 2016
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 ($104.1 Trillion) financial fraud ever perpetrated; I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.