The U.S. UPPER CLASS loves the fact that the U.S. Government is corrupt and fraudulent. The U.S. Government (the RULING CLASS) has established a fiscal policy and an accounting system (USAPonzi) that appears to make the U.S. UPPER CLASS very, very rich; appears to make the U.S. much more productive and prosperous than it really is; while cheating the common man and the underprivileged. The U.S. Government makes false promises to pay social benefits to the U.S. citizens that now are valued at $87 Trillion but does not tax the UPPER CLASS to pay for these social benefits so the UPPER CLASS appears to be $87 Trillion richer. The U.S. Government has also borrowed $13 Trillion from the public so that it can overpay the direct and indirect employees of the U.S. Government rather than taxing the UPPER CLASS making the UPPER CLASS richer by another $13 Trillion.
As a result, over the last 46 years the U.S. Government has given the U.S. UPPER CLASS $100 Trillion.
The U.S. Government has assumed public liabilities of $100 Trillion, thereby creating $100 Trillion of illusionary (counterfeit money) private assets that are now "owned" by the U.S. UPPER CLASS. We have been buying oil, smartphones, planes, cars, yachts, houses, condos, office buildings, resorts, cruise ships, golf courses, healthcare, medicine, etc. with this counterfeit money. We have been dramatically overpaying government employees, business executives, athletes, and entertainers with this counterfeit money. This $100 Trillion of counterfeit money is now circulating throughout the global economy but will largely evaporate when USAPonzi implodes. It is yet to be determined when or how USAPonzi will implode. It is also yet to be determined how the U.S. Government and the global financial system will deal with the coming financial crisis that will occur when USAPonzi implodes. But the $300 Billion of Greek debt, that everybody is so worried about, is a "drop in the bucket" compared to this $100 Trilllion of U.S. Government "virtual debt".
The U.S. Government is promising the U.S. citizens that if they will pay into Social Security and Medicare while they are working the Government will pay them a Social Security check and pay for their healthcare when they retire. But instead of setting up a trust fund with that "paid in" money, the U.S. Government has spent all of it on other things. The U.S. Government is flat lying to the U.S. citizenry by making social benefit promises that it has no financial capability or intent to keep. The U.S. Government is also dramatically overspending its Cash receipts so that it can overpay itself and its direct and indirect employees.
If what I am saying is true, why does the U.S. Government continue to operate USAPonzi? Because the folks in the UPPER CLASS and the RULING CLASS are living an opulent life style and many of them are getting super rich by cheating the common man and the underprivileged so neither group wants to expose the fraud and corruption in the U.S. Government. The middle and lower class U.S. citizens are counting on Social Security, healthcare, pensions, and other benefits that the U.S. Government has promised but rather than fund these promises the U.S. Government has given the money to the UPPER CLASS and the RULING CLASS in the form of unpaid taxes and lucrative pay to the direct and indirect U.S. Government employees.
That is why when I send six whistleblower letters (#1, #2, #3, #4, #5, #6) to the Securities and Exchange Commission complaining about this Ponzi scheme, they are ignored. The people in the SEC are part of the UPPER CLASS and they are living the good life because of this fraud so they do not want to expose it.
That is why when I send Op-Ed letters to The New York Times, The Wall Street Journal, and The Dallas Morning News explaining this Ponzi scheme, they are ignored. The people in the media are part of the UPPER CLASS and they are living the good life because of this fraud so they do not want to expose it.
That is why the senior people in business and on Wall Street like Warren Buffett say nothing about this fraud and corruption; because they are appearing to get super rich because of this fraud and therefore do not want to expose it. Warren Buffett makes $10 Million a day from this fraud. Why would he want it to stop? Warren Buffett has known, at least since 1975, that the U.S. Government was using corrupt and fraudulent accounting and because of that he knew he could get very rich. This fraud has given him $57 Billion and has made him appear to be the wisest investor in history. He is a very wise investor but USAPonzi has made him look 10 times wiser and richer because of the taxes he did not have to pay.
The entire U.S. Government is benefiting greatly because of this fraud so all of them are willing to stay quiet about the fraud to keep it going so they can continue to live the good life at the expense of the common man and the underprivileged. They are paying themselves much more than the U.S. taxpayer can afford and they do it openly on a Cash basis and covertly on a GAAP basis.
Even the Federal Reserve Chairmen (see Fed Chairmen Co-conspirators in USAPonzi) are willing to look the other way while the U.S. Government cheats the common man and the underprivileged and makes the UPPER CLASS rich. But the Fed Chairmen are also members of the UPPER CLASS so they too are living the good life because of this fraud so they do not want to expose it.
By now all of the UPPER CLASS should know that they are dramatically benefiting from this corrupt and fraudulent fiscal policy of the U.S. Government. But none of them want to expose it because they have "a bird's nest on the ground" and do not want anybody to expose the fraud that is allowing them to live the good life at the very least and to get filthy rich in the extreme cases.
The middle and lower classes must demand that they get treated fairly by the U.S. Government and the UPPER CLASS by calling for the use of GAAP Accounting and a balanced GAAP basis budget. The reason that the middle class and the lower class have not rebelled sooner is because this current fiscal policy appears to be treating them fairly since, as most Ponzi operators do, the U.S. Government is currently paying the promised returns to the early and current investors in the Ponzi scheme. But it will soon become obvious that the operator of this Ponzi scheme cannot continue to pay these Social Security checks, pension checks, and healthcare bills because the U.S. Government has not funded these promises, not even one penny. The U.S. Government is already behind by $100 Trillion on its promises to pay and is getting further behind every day by another $17.8 Billion because our "real" deficit is a GAAP Deficit of $6.5 Trillion in FY2015.
The U.S. citizenry must demand that the U.S. Government adopt GAAP Accounting and commit to a balanced GAAP basis budget in order to establish an equitable and sustainable fiscal policy for the Government of the United States of America.
An equitable and sustainable fiscal policy will dramatically reduce the social benefit promises that the U.S. Government can make to the U.S. citizenry but will ensure that these promises can be sustained over the long term. A GAAP basis balanced budget will also reduce the apparent wealth of the UPPER CLASS, according to my calculations, by a factor of 10.
This Ponzi scheme (USAPonzi) is what has caused the "Wealth GAP" by making the rich appear to be very, very rich because of the undertaxing on a GAAP basis. This is why the rich are getting richer and the poor are getting poorer. GAAP Accounting and a balanced GAAP basis budget will go a long way toward "leveling the playing field" for the middle and lower class U.S. citizens. All U.S. citizens have been living way beyond their means for the last 46 years but we all must face reality and realize that we have been living in a fantasy world that has gotten exponetially better for the UPPER CLASS as a result of this corrupt and fraudulent fiscal policy that the U.S. Government adopted in Fiscal Year 1969.
See www.usaponzi.com for more information about this Ponzi scheme,