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

USAPonzi Fantasy World for the Elite 180603
June 3, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, and Senator Ted Cruz on 6/3/18


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 how corruption within the U.S. Government has created a “Fantasy World for the Elite” and is setting the stage for a massive global depression!


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 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!


USAPonzi Fantasy World for the Elite 180603

June 3, 2018


America appears to be the richest and most powerful country on Planet Earth simply because the U.S. Government is committing fiscal and accounting fraud!


This fraud is giving Infinite wealth to the U.S. upper class!!!!!!!!


This fraud has already given the U.S. upper class $113.4 Trillion!


This fraud has deferred $113.4 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans so that it can enrich the U.S. upper class!


This fraud has created a “Fantasy World for the Elite”!


The corrupt and criminal U.S. Government is using fraudulent accounting to produce counterfeit wealth and prosperity for the U.S. upper class and the U.S. ruling 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 not properly accruing for future U.S. Government benefit promises!


This fiscal and accounting fraud is fraudulently transferring infinite wealth to the U.S. upper class!


The corrupt and criminal U.S. Government is not using the proper accounting system and, as a result, is promising unreasonable and unaffordable future benefits to the U.S. general public and is not taxing the U.S. upper class enough to pay for these future benefits! The U.S. Government is not using accrual accounting and, as a result, the U.S. upper class is getting filthy rich and the U.S. general public is getting screwed!


The U.S. Government has been doing this for 49 years! This fraud was started in FY1969 when LBJ proposed and the U.S. Congress approved the “Unified Budget”!


This accounting fraud has the effect of borrowing money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class! So far, the corrupt and criminal U.S. Government has borrowed $113.4 Trillion of imaginary-counterfeit money from the future Americans and given it to the U.S. upper class! The elite in America are living like kings because of this accounting fraud and the U.S. general public is getting cheated because the U.S. Government has made $92.2 Trillion worth of future benefit promises that it has no intention or capability to fulfill!


Because of this fraud, the elite in America are living the “Life of Riley” today and the U.S. general public is going to be devastated tomorrow!


Because of this fraud, the elite in America are getting rich and buying stuff with imaginary-counterfeit money that has been fraudulently borrowed from the future Americans! Proper accrual accounting and a balanced GAAP basis budget, limits the amount of money that can be honestly borrowed from the future Americans!


When this fraud is finally exposed, the U.S. and global economies will both implode causing a global economic depression that could be even more severe than the “Great Depression”! This depression will occur because millions of Americans will not get paid the U.S. Government benefit payments that they have been promised because these benefits have not been properly funded! Even today, the U.S. Government is borrowing money to pay current benefits but the U.S. Government cannot continue to borrow what will become an infinite amount of money!


The corrupt and criminal U.S. Government is using a classic “bait and switch” technique to effect this fraud. The U.S. Government is telling the U.S. general public that if you will make payroll tax payments now for future benefits, the U.S. Government will pay you Social Security and healthcare benefits in the future! What the corrupt and criminal U.S. Government does not tell the U.S. general public is that the U.S. Government is spending all of that payroll tax money as soon as it comes in to overpay itself!


The corrupt and criminal U.S. Government is blatantly lying to the U.S. general public so that it can create a “Fantasy World for the Elite”!


The corrupt and criminal U.S. Government is borrowing money, $113.4 Trillion so far, from the future Americans, money that the future Americans do not have, and giving it to the U.S. upper class by undertaxing them! This borrowing is reported on www.usdebtclock.org as US Unfunded Liabilities (GAAP)! The corrupt and criminal U.S. Government is borrowing an unending and ever-increasing amount of imaginary-counterfeit money from the future Americans and giving it to the U.S. upper class by undertaxing them!


No wonder we have a wealth and income gap!

The members of 1% club are making out like bandits!
$113.4 Trillion increasing exponentially is being given to the 1% club!


The U.S. general public is going to be really, really pissed when the U.S. Government is finally forced to admit to this fiscal and accounting fraud! The U.S. general public will not like it at all when they find out that they have been cheated for the last 49 years so the elite can live like kings!


GAAP basis deficit spending
is digitally printing imaginary-counterfeit money at the current rate of $16.5 Billion a day and giving it to the U.S. upper class by undertaxing them (GAAP Deficit in FY2018 = $6.02T/365 days = $16.49B)!


The corrupt and criminal U.S. Government is running a $113.4 Trillion Ponzi scheme, I call it USAPonzi, to create a “Fantasy World for the Elite”!


This fiscal and accounting fraud is explained in more detail in my “Open Letter to Planet Earth 180525”!


The U.S. Government is filled with scoundrels, liars, cheaters, and criminals that are running a massive Ponzi scheme because they are not operating the U.S. Government fiscal policy with proper accrual accounting!


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


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   $0.76 Trillion  
GAAP Deficit in FY2018   $6.02 Trillion  
US Unfunded Future Liabilities   $92.2 Trillion  
US Unfunded Liabilities (GAAP)   $113.4 Trillion  
Imaginary-Counterfeit Money   $113.4 Trillion  
Total National Assets   $139.8 Trillion  

Source: www.usdebtclock.org Jun 3, 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 ($113.4 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