The LBJ Conspiracy
April 5, 2017 Emailed to WSJ/NYT/DMN on April 5, 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 and the U.S. upper class have, for the last 48 years, been conspiring to enrich themselves while cheating the U.S. Common Man and the rest of the planet. The U.S. Government is operating with a fraudulent accounting system in an attempt to conceal this conspiracy, fraud, and corruption. I call this U.S. Government/U.S. upper class conspiracy "The LBJ Conspiracy". I call this fraudulent fiscal policy "USAPonzi".
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".
The LBJ Conspiracy
April 5, 2017
Since FY1969, the U.S. Government and the U.S. upper class have been conspiring to enrich themselves by operating with a corrupt and fraudulent fiscal policy and accounting system. I call this conspiracy "The LBJ Conspiracy" because it started in January of 1968 when President Lyndon Baines Johnson convinced the 90th Congress to adopt the "Unified Budget". I call this corrupt and fraudulent fiscal policy and accounting system "USAPonzi" because it is a classic Ponzi scheme that is being operated by the U.S. Government.
The LBJ Conspiracy has put in place a U.S. Government fiscal policy that is programmed to give the U.S. upper class infinite wealth by borrowing an infinite amount of imaginary-counterfeit money from the future Americans.
Simply stated "The LBJ Conspiracy" allows the U.S. Government to pay lucrative U.S. Government benefits to the U.S. citizenry without taxing the U.S. upper class enough to pay for these benefits. The U.S. Government and the U.S. upper class have conspired to infer to the general public and the rest of the planet that the future Americans will be able to pay an infinite amount of U.S. Government benefits forever.
The U.S. Government attempts to conceal this fiscal and accounting fraud by operating with Cash Accounting rather than the proper GAAP Accounting (Generally Accepted Accounting Principles) which has produced a classic Ponzi scheme that I have named USAPonzi.
Because of "The LBJ Conspiracy", the U.S. upper class has become very rich since they have been dramatically undertaxed ($105.7 Trillion of US Unfunded Liabilities (GAAP)).
Because of "The LBJ Conspiracy", the U.S. Government workers have been overpaid since the U.S. Government has been overspending its cash tax receipts and has been borrowing the payroll tax money, intended to fund Social Security and Healthcare, to increase pay for U.S. Government workers ($19.9 Trillion of National Debt).
Because of "The LBJ Conspiracy", the U.S. Government has dramatically underfunded the benefit promises that it has made to the U.S. citizenry. The U.S. Government has made "false benefit promises" to the Common Man ($85.8 Trillion of US Unfunded Future Liabilities).
For 48 years, the U.S. Government and the U.S. upper class have been conspiring to enrich themselves while cheating the U.S. Common Man.
But this is only part of this conspiracy. This fiscal policy, that I call USAPonzi, has allowed the U.S. Government to borrow $105.7 Trillion of imaginary-counterfeit money from the future Americans to give to the current Americans. This is the money that has appeared to make the U.S. upper very rich but it can also be used to buy stuff from the rest of the planet. For the last 48 years, Americans have been using imaginary-counterfeit money that the U.S. Government has pretended to borrow from the future Americans for most of our purchases. This is fraud because the future Americans do not have $105.7 Trillion.
The U.S. Government, by using Cash Accounting, is deferring an exponentially increasing amount of public liabilities to the future Americans.
But there is more to this conspiracy. Because the U.S. Government has given the U.S. upper class $105.7 Trillion of imaginary-counterfeit money they have great wealth, big houses, big cars, and can pay big money for things that the U.S. Common Man has to buy with real money that they earn by the sweat of their brow. This has caused rampant asset and consumer price inflation for the last 48 and has priced the U.S. Common man out of much of the global labor market thereby causing offshoring of many jobs.
But there is more to this conspiracy. Because the U.S. Government has created $105.7 Trillion of imaginary-counterfeit money out of "thin air" by pretending to borrow it from the future Americans this has caused the price of healthcare to inflate. The U.S. upper class gets to use imaginary-counterfeit money to buy stuff, including healthcare, while the U.S. Common man has to use real money earned by the sweat of their brow to buy this same stuff.
The LBJ Conspiracy is borrowing an exponentially increasing stream of imaginary-counterfeit money from the future Americans and giving it to the U.S. upper class.
The LBJ Conspiracy is causing a wealth and income gap between the haves and the have-nots.
The LBJ Conspiracy is a heavenly experience for the U.S. upper class and the U.S. ruling class but it is hell for the common man.
The LBJ Conspiracy is enriching the U.S. ruling class, colossally enriching the U.S. upper class, colossally cheating the U.S. Common Man, and colossally cheating the rest of the planet.
The senior U.S. Government officials that are perpetrating this fraud are criminals and their co-conspirators in the U.S. upper class are really no better because they are unwilling to expose this $105.7 Trillion crime. Why would they? This fraud is making them richer and richer!
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|| $85.8 Trillion
|US Unfunded Liabilities (GAAP)
| Total National Assets
Source: www.usdebtclock.org April 5, 2017
The LBJ Conspiracy 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 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 is the biggest ($105.7 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