April 1, 2021
I am a whistleblower! The U.S. Government is corrupt! The corrupt U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is in the process of fraudulently borrowing an infinite amount of money, I call it imaginary-counterfeit money, from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!
The corrupt U.S. Government has fraudulently given the U.S. upper class $162.3 Trillion of imaginary-counterfeit money!
The following is a notional chart that shows graphically how the corrupt U.S. Government is printing imaginary-counterfeit money by deferring public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans! When the U.S. Government assumes public liabilities, it produces counterfeit private assets! The corrupt U.S. Government has deferred $162.3 Trillion of public liabilities to the future Americans to create $162.3 Trillion of imaginary-counterfeit private assets for the U.S. upper class!
The U.S. upper class is getting rich, the stock market is going up, Tesla stock is going up, and the value of a Bitcoin is going up because the corrupt U.S. Government is printing imaginary-counterfeit money by deferring public liabilities to the future Americans! Imaginary-counterfeit money is increasing on an exponential curve as shown in the above chart because the corrupt U.S. Government must pay compound virtual interest on the US Unfunded Liabilities (GAAP) it has borrowed from the future Americans!
The corrupt U.S. Government started printing imaginary-counterfeit money in 1969 when the U.S. Government adopted the Unified Budget and did not switch from Cash Accounting to GAAP Accounting to accrue for future U.S. Government benefits!
When this Ponzi scheme implodes, this imaginary-counterfeit money will evaporate, the bond market, the stock market, and the real estate market will all crash by 95%+, and the global economy will fall into a deep depression that I call The Greatest Depression!
When will USAPonzi implode?
That is unknown but it is inevitable. The following are conditions that could trigger the implosion of a Ponzi scheme like USAPonzi!
Operator admits to the scheme!
It is quite rare that the operator of a Ponzi scheme admits to the fraud before it becomes quite likely that it will be discovered!
The U.S. Government either does not know that it is running a Ponzi scheme, or it is willing to let it operate until a major crisis occurs! I have sent six whistleblower letters to each member of the U.S. Congress in an attempt to expose this fraud and all but one of these 3,745 letters (535X7 = 3,745) have been ignored. The one respondent, Randy Neugebauer (R) Lubbock TX, was retiring soon and said that he agreed that the U.S. Government has a critical fiscal policy issue but that Congress would not take action until it became a major crisis!
I have also sent more than 10 complaints to my Congressman Van Taylor, but he refuses to accept the fact that the U.S. Government is running a $162.3 Trillion Ponzi scheme!
It seems unlikely that the U.S. Government will admit to this Ponzi scheme until it becomes a major crisis!
Regulatory authority exposes the scheme!
Often times a Ponzi scheme is disclosed by a regulatory authority after it has been alerted to the fraud by an affected party.
I have sent 15 whistleblower letters and a formal complaint to the Securities and Exchange Commission, 10 whistleblower letters to the U.S. Supreme Court, two whistleblower letters to the Federal Reserve Bank, and five complaints to the Federal Bureau of Investigation in an attempt to expose this fraud! I have not gotten a response from any of these complaints!
It seems unlikely that any regulatory authority will have the intestinal fortitude to challenge the U.S. Government and expose this Ponzi scheme before it becomes broadly accepted as a Ponzi scheme by the U.S. general public!
I will be greatly interested in how these various government entities explain why they did not take action to expose this U.S. Government fraud!
Swindled find out about the scheme!
A frequent way that a Ponzi scheme is exposed and implodes is when the people that are being negatively impacted by the scheme begin to become suspicious of the fraud and either stop buying into the scheme or are willing to report it to the appropriate regulatory authorities.
In the case of USAPonzi, the swindled frequently have little choice about whether they stay in the scheme or try to exit from the scheme! The swindled are social benefit recipients that are counting on healthcare and retirement benefits, government workers that are counting on pensions, and veterans that are counting on veterans' benefits! The people that have been swindled by USAPonzi have often times been trusting the U.S. Government for years but they will soon learn that the U.S. Government is not to be trusted!
The people that have been swindled by USAPonzi are going to be “MAD AS HELL” when they find out about the severity of the plight that they will soon be facing because of this Ponzi scheme!
Many Americans are unhappy with the U.S. Government, but most do not yet understand just how badly they are being treated by the corrupt U.S. Government! While I certainly do not condone the January 6, 2021 attack on the U.S. Capitol, I can understand why most of the U.S. general public is angry with the U.S. Government! The corrupt U.S. Government is enriching the U.S. upper class, enriching the U.S. ruling class, and cheating the U.S. general public (See Trumper Revolution caused by USAPonzi)!
As I have learned, exposing corruption within the U.S. Government is a daunting task!
Beneficiaries cash out of the scheme!
I contend that the most likely option for triggering the exposure and implosion of a Ponzi scheme is when the beneficiaries of the scheme begin to cash out of the scheme!
The USAPonzi scheme is borrowing money from the future Americans and giving it to the U.S. upper class! So far, the U.S. Government has borrowed $28.1 Trillion to cover its cash basis spending which it reports as our National Debt! What the U.S. Government is not reporting is that it has incurred $134.2 Trillion of US Unfunded Future Liabilities because it is not accruing for future U.S. Government benefits. To keep this Ponzi scheme alive, the U.S. Government will have to borrow what is now $162.3 Trillion, and growing exponentially, the sum of our National Debt and our US Unfunded Future Liabilities!
To finance this $162.3 Trillion of public liabilities, the U.S. Government must sell U.S. Government bonds and the bond investors will one day realize that they are buying bonds that will never be paid back!
It would seem to be obvious that an economy that has a Gross Domestic Product (GDP) of $21.6 Trillion would not be able to pay back the National Debt of $28.1 Trillion let alone pay back the $162.3 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) that the U.S. Government has deferred to the future Americans!
I contend that the U.S. Government will have to increase the rate of return (interest) on U.S. Government bonds to entice investors to continue to buy U.S. Government debt! I further contend that at some point in time the owners of U.S. Government bonds will begin to cash out of these bonds and be willing to sell them at an ever-increasing loss since these bonds are unpayable!
When the U.S. Government is unable to sell bonds, the U.S. Government will be unable to pay U.S. Government benefits and nearly half of the U.S. population will have no money! When half of the U.S. population has no money, they will not be able to buy things and the value of stocks will begin to decline. When half of the U.S. population has no money, they will not be able to pay their mortgages and rent and the value of real estate will begin to decline!
When the value of bonds, stocks, and real estate start to fall, the wealth of the working and investing part of the U.S. population will decline and they will have to reduce their spending. Investors will be prepared to sell bonds, stocks, and real estate at lower and lower prices!
Investors will see their imaginary-counterfeit money, currently $162.3 Trillion, evaporate into the “thin air” from whence it came!
The implosion of USAPonzi will cause a downward spiral in global economic activity that will lead to a massive global depression that I call The Greatest Depression!
The question is, when will the bond investors realize that they are putting their imaginary-counterfeit money down a rat hole by buying U.S. Government bonds!
The following commentaries explain this fiscal and accounting fraud that I call USAPonzi!
USAPonzi-The Great American Fraud
Whistleblower Letter #3 to U.S. General Public
Whistleblower Letter #6 to Congress
The devastating impact of this accounting fraud on Planet Earth is summarized in my Oct 1, 2020 commentary.
Quintet of Global Crises (Economy, Climate, Health, Hunger, Depression)
|Cash Deficit in FY2021
|*GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org April 1, 2021
The current fiscal policy of the corrupt U.S. Government, I call it USAPonzi, is Destroying Planet Earth!
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain USAPonzi and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can also be downloaded from my www.usaponzi.net website.
John W. White