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

Up, Up, Up Goes the Economy 3/31/18
March 31, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, and Senator Ted Cruz on 4/2/18


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 the cause for the current economic expansion reported in the New York Times article “Up, Up, Up Goes the Economy; Here's What Could Knock it Down”.


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


Up, Up, Up Goes the Economy 3/31/18
March 31, 2018


The following are two recent articles in the New York Times:


The Economy is Looking Awfully Strong. March 9, 2018


Up, Up, Up Goes the Economy, Here's What Could Knock It Down. March 20, 2018


The fact that the economy is looking awfully strong and is going up, up, up is no mystery! This is happening because the U.S. Government is corrupt! The U.S. Government is committing fiscal and accounting fraud to digitally print imaginary-counterfeit money and give it to the U.S. upper class to fraudulently stimulate the U.S. and global economy!


The U.S. Government is not operating its fiscal policy according to proper accrual accounting! In the United States of America, public companies are required to report their financial conditions with GAAP Accounting (Generally Accepted Accounting Principles) which specifies the accounting rules for accrual accounting. The U.S. Government is not operating its fiscal policy according to GAAP Accounting!


Because the U.S. Government is not using GAAP Accounting and therefore is not properly accruing for future benefit promises, the U.S. upper class has been colossally undertaxed by $112.6 Trillion (US Unfunded Liabilities (GAAP)) and, as a result, has been given $112.6 Trillion of imaginary-counterfeit money!


The U.S. and global economies are both going up, up, up because the corrupt and criminal U.S. Government has printed $112.6 Trillion of imaginary-counterfeit money, is printing $16.4 Billion more imaginary-counterfeit money every day, and is giving it to the U.S. upper class by undertaxing them!


I call this fraudulently borrowed money “imaginary-counterfeit money” because the U.S. Government is borrowing this money from the future Americans and the future Americans do not have $112.6 Trillion! The U.S. Government just imagines that the future Americans can pay it someday but it is counterfeit because the future Americans can never pay it! This fraudulently borrowed money is both imaginary and counterfeit!


Americans, largely the U.S. upper class, are buying stuff with $112.6 Trillion of imaginary-counterfeit money that the corrupt and criminal U.S. Government is fraudulently borrowing from the future Americans by using Cash Accounting rather than the proper GAAP Accounting and is giving it to the U.S. upper class by undertaxing them!


The following paragraphs were extracted from the “Up, Up, Up Goes the Economy” article:


“Some of the headwinds the U.S. economy faced in previous years have turned into tailwinds,” Mr. Powell told lawmakers last month.


In any case, research has found that economic expansions do not “die of old age.” Rather, they end because something — a policy mistake, an asset bubble, an outside shock — causes them to.


Nellie Liang, who led the Fed’s financial stability efforts after the financial crisis, said the United States had stayed out of trouble since then partly because regulators learned lessons that made banks and other financial institutions far stronger.


These paragraphs tell me several things;


1) Fed chairman Jay Powell does not understand that the U.S. Government is using fiscal and accounting fraud to stimulate the economy!


2) Financial research has not yet discovered the true cause of the current economic expansion!


3) Nellie Liang does not realize that the Fed's financial stability efforts have done nothing to help correct the root cause of the “financial crisis of 2008”! The 2008 financial crisis was caused by the U.S. Government fiscal and accounting fraud that I call USAPonzi and all banks will fail when this U.S. Government fiscal and accounting fraud is exposed. Financial institutions are NOT far stronger; they are getting bigger and bigger and weaker and weaker because they are being filled with imaginary-counterfeit money created out of “thin air” by a corrupt and criminal U.S. Government!


This imaginary-counterfeit money will evaporate into the “thin air” from whence it came when this fiscal and accounting fraud is exposed!


This article does correctly say that economic expansions do not “die of old age”. This current economic expansion was caused by a fiscal policy mistake/fraud, it has created many asset bubbles (houses, automobiles, airplanes, stock market, oil, gold, bitcoin, banks, restaurants, TVs, computers, smartphones, skyscrapers, cities, airports, trains, hotels, resorts, golf courses, stadiums, malls, movies, condos, apartments, cruise ships, cargo ships, tennis shoes, pro athlete pay, entertainer pay, executive pay, millionaires, billionaires, bombs, guns, etc, etc) by printing $112.6 Trillion of imaginary-counterfeit money, and the “outside shock” will occur when the general public is properly informed that the corrupt and criminal U.S. Government is running a massive Ponzi scheme to produce this economic expansion by fraudulently and colossally enriching the U.S. upper class and colossally cheating the U.S. general public!


Americans are creating bubbles in all asset classes because they are buying stuff with $112.6 Trillion of imaginary-counterfeit money that the corrupt and criminal U.S. Government has fraudulently borrowed from the future Americans and given to the U.S. upper class! Americans are buying stuff without have to pay for it because the U.S. Government is corrupt and criminal! And the corrupt and criminal U.S. Government borrows $16.4 Billion more imaginary-counterfeit money from the future Americans every day and gives it to the U.S. upper class to keep this Ponzi scheme going!


GAAP basis deficit spending by the U.S. Government digitally prints imaginary-counterfeit money, $112.6 Trillion so far, and stuffs it into the pockets of the U.S. upper class!


That is what makes the economy go up, up, up!


The corrupt and criminal U.S. Government is committing fiscal and accounting fraud to fraudulently and digitally print imaginary-counterfeit money and give it to the U.S. upper class!


The U.S. general public is going to be really, really pissed when they are properly informed of how the U.S. Government is cheating the U.S. general public so the U.S. Government can enrich themselves and their U.S. upper-class friends!


The U.S. Government is underfunding the future benefit promises to the U.S. general public by $91.5 Trillion (US Unfunded Future Liabilities) so it can undertax and colossally enrich the U.S. upper class!


The U.S. Government is running a classic Ponzi scheme (USAPonzi) by pretending to borrow money from the future Americans, money that the future Americans do not have, and giving it to the U.S. upper class! The U.S. Government attempts to conceal this fraud by assessing and reporting its financial condition with Cash Accounting rather than the proper GAAP Accounting!


This fraud is explained in more detail in my Open Letter to Planet Earth Mar 28, 2018!


To eliminate this massive ($112.6 Trillion) fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.

 

National Debt   $21.1 Trillion  
Cash Deficit in FY2018   $0.73 Trillion  
GAAP Deficit in FY2018   $5.99 Trillion  
US Unfunded Future Liabilities   $91.5 Trillion  
US Unfunded Liabilities (GAAP)   $112.6 Trillion  
Imaginary-Counterfeit Money   $112.6 Trillion  
Total National Assets   $137.7 Trillion  

Source: www.usdebtclock.org Mar 31, 2018


This fraud/Ponzi scheme (USAPonzi) is also explained on my website www.usaponzi.net and in my third book “USAPonzi3”!


This is the biggest ($112.6 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