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

Uber Miracle/Debacle! 190525
May 25, 2019
Emailed to WSJ/NYT/WP/DMN, the US SEC, Fed Chairman Jay Powell, Minneapolis Fed President Neel Kashkari, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, and Dallas Mayor Mike Rawlings 5/27/19


Uber is a Hoax!


Uber is a fantasy company created by corruption within the U.S. Government!


Uber appears to be an economic miracle because of a U.S. Government accounting fraud but will prove to be an economic debacle when this accounting fraud is exposed!


The U.S. Government is corrupt! The U.S. Government is running a $124.1 Trillion Ponzi scheme that I call USAPonzi! The U.S. Government is committing fiscal and accounting fraud by not using proper GAAP Accounting! Because of this accounting fraud, the U.S. Government is in the process of borrowing an infinite amount of counterfeit money from the future Americans and giving it to the U.S. upper class and is promising benefits to the U.S. general public that it is not properly funding!


The corrupt U.S. Government is enriching the rich and screwing the unrich!


The corrupt U.S. Government has caused Uber to appear to be worth $70 Billion (May 24, 2019) by printing an infinite amount of counterfeit money!


In this commentary I will explain the Uber Miracle/Debacle just like I have tried to explain the many other miracle companies and asset bubbles produced by the Ponzi scheme that I call USAPonzi!


Uber appears to be a successful company because the U.S. Government is in the process of printing an infinite amount of counterfeit money (so far $124.1 Trillion) that Americans are using to pay for their rides on Uber.


The U.S. Government is not operating its fiscal policy with proper and Generally Accepted Accounting Principles (GAAP Accounting). As a result, the U.S. Government is not properly accruing the money required to pay for the future benefit promises to the U.S. general public! Because of this accounting fraud, the U.S. upper class is getting richer (by $124.1 Trillion) because they are being undertaxed and the U.S. general public is getting screwed (by $101.8 Trillion) because the U.S. Government is not accruing the money to pay these future benefit promises!


The U.S. Government is printing counterfeit money with GAAP basis deficit spending! The U.S. Government has printed $124.1 Trillion of counterfeit money by fraudulently deferring $124.1 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans and undertaxing the U.S. upper class by $124.1 Trillion! The U.S. upper class has been fraudulently given $124.1 Trillion of counterfeit money!


Let me say that one more time very slowly!


The U.S. upper class has been fraudulently given $124.1 Trillion of counterfeit money!


Let me say that one more time in a slightly different way!


The corrupt U.S. Government has fraudulently borrowed $124.1 Trillion from the future Americans, when the future Americans do not have $124.1 Trillion, and has given it to the U.S. upper class by undertaxing them! Americans, primarily the U.S. upper class, are buying stuff with monopoly money, $124.1 Trillion of monopoly money, that has been fraudulently borrowed from the future Americans and given it to the U.S. upper class!


The corrupt U.S. Government has produced $124.1 Trillion of counterfeit money out of “thin air” and given it to the U.S. upper class by committing a fiscal and accounting fraud by not using proper GAAP Accounting!


The corrupt U.S. Government is printing counterfeit money, so far $124.1 Trillion, that Americans are using to buy stuff without paying for it!


The corrupt U.S. Government is printing counterfeit money that Americans are using to catch a ride on Uber!


The corrupt U.S. Government has fraudulently borrowed $124.1 Trillion from the future Americans and given it to the
U.S. upper class so we will have plenty of counterfeit money to catch a ride on Uber!


Uber appears to be an economic miracle because the U.S. Government is running a Ponzi scheme that is printing an infinite supply of counterfeit money to make Uber appear to be successful!


Uber will prove to be an economic debacle when this Ponzi scheme implodes and this counterfeit money evaporates!


The corrupt U.S. Government is in the process of printing an infinite amount of counterfeit money by fraudulently borrowing it from the future Americans and giving it to the U.S. upper class by undertaxing them!


The corrupt U.S. Government is committing a fiscal and accounting fraud by operating its fiscal policy with Cash Accounting rather than proper GAAP Accounting!


The corrupt and criminal U.S. Government is using one of the simplest of accounting tricks; promising future benefits but not accruing the money to pay for them!


This is the very nature of a Ponzi scheme; promise great rewards in the future for the late participants in the scheme while paying huge rewards to the early participants in the scheme with the money coming in from the late participants!


This accounting fraud/Ponzi scheme is causing two diverging outcomes:


1) the U.S. upper class gets richer and richer with counterfeit money because they do not have to pay for these promised future benefits.


2) the U.S. general public gets screwed because the U.S. Government has not accrued the money to pay these promised future benefits.


This accounting fraud is enriching the rich and screwing the unrich!


But for now, the U.S. upper class has a lot of counterfeit money ($124.1 Trillion) to pay for rides on Uber


The corrupt U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is printing counterfeit money, I call it imaginary-counterfeit money, with GAAP basis deficit spending!


Americans are buying essentially everything they need and want with imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans!


The entire planet is building and buying tennis shoes, tee shirts, computers, smartphones, cars, trucks, airplanes, boats, houses, skyscrapers, airports, cities, guns, bombs, etc., etc. with what is now $124.1 Trillion of imaginary-counterfeit money that the corrupt U.S. Government is fraudulently borrowing from the future Americans!


The Saudi Princes are imaginary-counterfeit billionaires, the U.S. economy is booming, the Chinese economy is booming, and Jeff Bezos of Amazon is an imaginary-counterfeit centi-billionaire because the corrupt U.S. Government has fraudulently borrowed $124.1 Trillion of imaginary-counterfeit money from the future Americans and given it to the U.S. upper class by undertaxing them!


Uber, and many other fantasy companies, will vanish into “thin air” when the U.S. Government starts telling the financial truth and USAPonzi implodes!


The U.S. economy and the global economy are both operating on the $124.1 Trillion of imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans!


President Trump is in Japan today (May 25, 2019) touting the outstanding success of the U.S. economy as compared to the rest of the planet! Apparently, President Trump has no clue that it is corruption within his own government that is producing this apparent success of the U.S. economy!


The global economy and the global  financial system are both a hoax created by corruption within the U.S. Government!


Uber is a hoax that has been produced by the criminals in Washington, DC!


Uber has been created by the accounting fraud that I call USAPonzi!


This fraud is also Burning up Planet Earth with Global Warming because we are in the process of buying and building an infinite number of environment-polluting physical objects with this infinite supply of imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans!


National Debt  $22.3 Trillion 
Cash Deficit in FY2019  $0.98 Trillion 
GAAP Deficit in FY2019  $6.11 Trillion 
US Unfunded Future Liabilities  $101.8 Trillion 
US Unfunded Liabilities (GAAP)  $124.1 Trillion 
Imaginary-Counterfeit Money  $124.1 Trillion 
Total National Assets  $135.9 Trillion 

Source: www.usdebtclock.org May 25, 2019


This accounting fraud/Ponzi scheme 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!
GAAP Accounting, properly applied, would not allow the U.S. Government to borrow more money from the future Americans than the future Americans can be reasonably expected to pay. By operating with fraudulent accounting, the U.S. Government has fraudulently borrowed $124.1 Trillion of imaginary-counterfeit money from the future Americans, which obviously can never be paid, and given it to the U.S. upper class by undertaxing them!


You can learn more about this fraud/Ponzi scheme by reading my websites www.usaponzi.net and www.usaponzi.com or better yet by reading my fifth book on USAPonzi “USAPonziB” which is available on Amazon and on my websites in Kindle and PDF formats.


This is the biggest ($124.1 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