The Biggest Ponzi Scheme on the Planet-The U.S. Government
"American Economic Exceptionalism Explained"                     USAPonzi                                      by John W. White   Mar 29, 2013

U.S. General Public will be Mad as Hell 180702
July 2, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, and Senator Ted Cruz on 7/2/18


The following is an Op-Ed to “The Wall Street Journal”“The New York Times”“The Washington Post”, and “The Dallas Morning News” that explains why the “U.S. General Public will be Mad as Hell when they are properly informed that the U.S. Government is committing fiscal and accounting fraud so that it can “underfund the future benefit promises to the U.S. general public” and give “infinite wealth to 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 “colossally feather the nests of their upper-class friends”! The U.S. Government is not using proper accrual accounting!


The “news media” is aiding and abetting the corrupt and criminal U.S. Government by refusing to report this fiscal and accounting fraud!


U.S. General Public will be Mad as Hell 180702

July 2, 2018


The U.S. Government is lying to and cheating the U.S. general public!


The U.S. Government is promising future benefits to the U.S. general public but has fraudulently underfunded these benefit promises by $92.6 Trillion!


The U.S. general public will be “Mad as Hell” when they find out that the U.S. Government has been
“Cooking the Books” to cheat the U.S. general public and enrich the U.S. upper class!


The U.S. Government is committing fiscal and accounting fraud so that it can fraudulently underfund its benefit promises to the U.S. general public and fraudulently give the U.S. upper class an infinite amount of money!


We will likely see dramatic civil unrest when the U.S. general public is properly informed of this fiscal and accounting fraud!


The U.S. Government is corrupt!


The “U.S. general public will be Mad as Hell” when they find out that the U.S. Government has been making false promises of future benefits that it has been underfunding for the last half century!


The corrupt and criminal U.S. Government is not using the proper accounting system, accrual accounting, to manage its fiscal policy!


The corrupt and criminal U.S. Government is not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting)!


Since the U.S. Government adopted the Unified Budget in FY1969, the U.S. Government has not been properly accruing for the future U.S. Government benefit promises that it has made to the U.S. general public! As of today, July 2, 2018, the U.S. Government has deferred $113.8 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans and undertaxed the U.S. upper class by $113.8 Trillion! This fiscal policy has underfunded the future benefit promises to the U.S. general public by $92.6 Trillion!


The U.S. general public is going to be “Mad as Hell” when they are properly informed that the U.S. Government has been committing a fiscal and accounting fraud that is not setting aside the money to pay future benefit promises to the U.S. general public so that it can fraudulently and dramatically enrich the U.S. ruling class and so that it can fraudulently and colossally enrich the U.S. upper class!


The corrupt and criminal U.S. Government is not operating its fiscal policy with proper accrual accounting!


The corrupt and criminal U.S. Government is collecting tax revenue from the U.S. general public to pay future Social Security and healthcare benefits but is spending that money for other purposes as soon as it is collected!


The corrupt and criminal U.S. Government is lying to the U.S. general public by promising to pay them future benefits but instead is colossally enriching the U.S. upper class and is dramatically overpaying itself!


The corrupt and criminal U.S. Government is cheating the U.S. general public so it can enrich the U.S. upper class and overpay the U.S. ruling class!


The current U.S. Government fiscal policy is borrowing an unending and ever-increasing amount of money from the future Americans and giving it to the U.S upper class! This fiscal policy is a classic Ponzi scheme, which I call USAPonzi, that the corrupt and criminal U.S. Government has been perpetrating for now nearly a half century!


This accounting fraud is borrowing $16.5 Billion more money every day from the future Americans, money that the future Americans do not have, and giving it to the U.S. upper class! The corrupt and criminal U.S. Government borrows this money from the future Americans with GAAP basis deficit spending (GAAP Deficit in FY2018 = $6.03T/365 days = $16.5B/day)!


This fiscal policy has been colossally and fraudulently enriching the U.S. upper class for the last 49 years! This fiscal policy has been colossally cheating the U.S. general public for the last 49 years because the U.S. Government has not been properly accruing the money to pay for future benefit promises that it has made to the U.S. general public! So far, the U.S. Government has underfunded these benefit promises to the U.S. general public by $92.6 Trillion (US Unfunded Future Liabilities)!


Because of this fraud, the U.S. upper class is getting rich because they don't have pay for the future promises to the U.S. general public and the U.S. general public is getting cheated because the money has not been accrued to pay these future benefit promises to the U.S. general public!


When the U.S. upper class does not have to pay the taxes to fund the future benefits, this cost gets deferred to the future Americans. This has the macro effect of borrowing money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them.


So far, this fraud has borrowed $113.8 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans and given it to the U.S. upper class! I call this fraudulently borrowed money imaginary-counterfeit money. It is imaginary because the corrupt and fraudulent U.S. Government is imagining that the future Americans can pay it someday but it is counterfeit because the future Americans can never pay it!


The U.S. upper class is getting rich with imaginary-counterfeit money and the U.S. general public is getting cheated because the corrupt and criminal U.S. Government is making unreasonable, unaffordable, false, and underfunded U.S. Government benefit promises to the U.S. general public!


The rich get rich today and the poor get cheated tomorrow!


This is a classic Ponzi scheme, I call it USAPonzi, because the early participants in the scheme get paid outlandish returns from the money that the operator is expecting/pretending to receive from the late participants in the scheme!


This is a $113.8 Trillion criminal act by the corrupt and criminal U.S. Government!


The corrupt and criminal U.S. Government has created $113.8 Trillion of imaginary-counterfeit wealth for the U.S. upper class by “Cooking the Books”!


The corrupt and criminal U.S. Government has deferred $113.8 Trillion of pubic liabilities (US Unfunded Liabilities (GAAP)) to the future Americans so that it can undertax and enrich the U.S. upper class by $113.8 Trillion!


The corrupt and criminal U.S. Government is digitally printing imaginary-counterfeit money with GAAP basis deficit spending and giving it to the U.S. upper class by undertaxing them!


The corrupt and criminal U.S. Government has created $113.8 Trillion of “Wealth out of Thin Air” for the U.S. upper class by committing fiscal and accounting fraud!


This fiscal and accounting fraud, if it is allowed to continue, will give the U.S. upper class an infinite amount of imaginary-counterfeit wealth since the future Americans have an infinite amount of imaginary-counterfeit money! After all it is imaginary!


The corrupt and criminal U.S. Government is borrowing a whole-hell-of-a-lot-of-money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class!


The private net worth of all Americans is estimated to be $137.4 Trillion (Total National Assets) but $113.8 Trillion of that has been fraudulently borrowed from the future Americans! Therefore, 82.8% of U.S. private net worth is imaginary-counterfeit money that has been fraudulently borrowed from the future Americans ($113.8T/137.4T = 0.828)!


The U.S. Government is corrupt!


The senior officials of the U.S. Government are common criminals that have committed a $113.8 Trillion criminal act by not using proper accrual accounting! The senior officials of the U.S. Government are common criminals because they are direct financial beneficiaries of this massive fraud!


We have 535 criminals in the U.S. Congress and an untold number of criminals in the White House!


This fraud is explained in more detail in my Open Letter to Planet Earth and my Open Letter to US General Public!


The “U.S. general public will be Mad as Hell” when they find out that the U.S. Government has been making false promises of future benefits to the U.S. general public that it has been fraudulently underfunding for the last half century so that it can fraudulently enrich itself and the U.S. upper class!


To eliminate this massive fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget. GAAP Accounting (Generally Accepted Accounting Principles) is the commonly used name in America for the accounting guidelines for accrual accounting.

 

National Debt   $21.2 Trillion  
Cash Deficit in FY2018   $0.78 Trillion  
GAAP Deficit in FY2018   $6.03 Trillion  
US Unfunded Future Liabilities   $92.6 Trillion  
US Unfunded Liabilities (GAAP)   $113.8 Trillion  
Imaginary-Counterfeit Money   $113.8 Trillion  
Total National Assets   $137.4 Trillion  

Source: www.usdebtclock.org Jul 2, 2018


This fraud/Ponzi scheme (USAPonzi) is explained in much more detail on my websites www.usaponzi.net and www.usaponzi.com and in my books “USAPonzi”, “USAPonzi2”, and “USAPonzi3”!


This is the biggest ($113.8 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.


John W. White
Plano, TX