Venezuela-A canary in the coal mine 180821
August 21, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, and Senator Ted Cruz on 8/22/18
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 why “Venezuela is a canary in the coal mine”! Venezuela is showing the United States of America what happens when a national government is corrupt!
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 proper 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!
Venezuela-A canary in the coal mine 180821
August 21, 2018
The people of the United States of America need to take note of what is happening in Venezuela! What has boiled over in Venezuela is brewing in the United States right now and has been gaining steam for now 49 years! The U.S. Government is committing a fiscal and accounting fraud that is printing counterfeit money and giving it to the U.S. upper class! The corrupt and criminal U.S. Government has borrowed $114.4 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans, money the future Americans do not have, and given it to the U.S. upper class!
The corrupt and criminal U.S. Government has fraudulently given the U.S. upper class $114.4 Trillion, has fraudulently overpaid the U.S. ruling class by $21.4 Trillion, and has fraudulently underfunded the benefit promises to the U.S. general public by $93.0 Trillion!
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 printing counterfeit money at the current rate of $16.5 Billion a day with GAAP basis deficit spending and giving it to the U.S. upper class by undertaxing them!
Because of this fiscal and accounting fraud, Americans are buying stuff with this now $114.4 Trillion of imaginary-counterfeit money! Americans are buying stuff from the rest of the planet without having to pay for it! This fiscal and accounting fraud has appeared to make America the wealthiest and most prosperous country on the planet!
When a national government spends and promises to spend more than its income, the elite get richer and richer and the common man gets screwed! Greece found that out the hard way when they had to accept bankruptcy! Greece is still suffering from this problem even though they seem to be coming out of bankruptcy! But the problem is, Greece still has a national debt that is nearly twice their GDP! (180.8% of GDP in 2017)!
Venezuela just announced that it was revaluing its currency by dropping off five zeroes from its Bolivar. This inflation and hyper-inflation is caused by a national government not operating its fiscal policy with a properly balanced budget! When a national government spends and promises to spend more than its income it is, in effect, printing counterfeit money and giving it to the elite by undertaxing them! This strategy/fraud by a national government is an excellent and sneaky way for the ruling class to get rich and for the upper class to get filthy rich!
The inflation problem in Venezuela is being dramatically accelerated by the corruption within the U.S. Government! The U.S. Government has printed $114.4 Trillion of counterfeit money, some of which makes its way to Venezuela to buy their oil! The elite in Venezuela have become flush with counterfeit money that was fraudulently borrowed from the future Americans by a corrupt U.S. Government! The common man in Venezuela is earning peanuts and the elite in Venezuela have more money than they can imagine because of the fraud in the governments of both the United States and Venezuela!
The same thing is happening in the United States, the common man is working for peanuts and the elite in America have more money than they can imagine because the U.S. Government is printing counterfeit money at the current rate of $16.5 Billion a day and giving it to the U.S. upper class by using fraudulent accounting!
This is fraud! This is corruption! This is a $114.4 Trillion crime that is being perpetrated by the corrupt and criminal U.S. Government!
The governments of both the United States of America and Venezuela are printing counterfeit money and giving it to the elite by undertaxing them!
Why do I say that Greece and Venezuela are canaries in the coal mine? Because, in FY1969, the U.S. Government adopted the Unified Budget that does not use proper and Generally Accepted Accounting Principles (GAAP Accounting)! The U.S. Government is not accruing the money to pay for the future benefit promises to the U.S. general public! The U.S. Government has been doing, for the last 49 years, exactly what Greece and Venezuela have done, spend and promise to spend much more than its income! When this happens, the elite get undertaxed and rich while the common man gets screwed!
The U.S. Government is operating a classic Ponzi scheme that I call USAPonzi (See Open Letter to the US Government)!
The U.S. Government is spending and promising to spend much more than its income! The U.S. Government fraudulently tells us that its deficit is $780 Billion (Cash basis) in FY2018 when in fact its deficit on a GAAP basis is $6.04 Trillion! The U.S. ruling class is getting rich, the U.S. upper class is getting filthy rich, the U.S. Common Man is getting screwed, and the U.S. Government is printing counterfeit money at the rate of $16.5 Billion every day so Americans can buy stuff without paying for it! The U.S. Government has already printed $114.4 Trillion of imaginary-counterfeit money and given it to the U.S. upper class! This is what is causing inflation!
What happened in Greece a few years ago and what is happening in Venezuela today is in the process of happening in the United States of America! The U.S. Government has already printed $114.4 Trillion of imaginary-counterfeit money and given it to the U.S. upper class! The U.S. general public has already been screwed by $93.0 Trillion because their promised future benefits have been underfunded by $93.0 Trillion!
Inflation in the United States, has been about 5% per year over the last half century but inflation will continue to increase at an accelerating pace as long as the U.S. Government continues to operate this fiscal and accounting fraud that I call USAPonzi (See Inflation-A Byproduct of USAPonzi)! The U.S. Government is printing imaginary-counterfeit money at the rate of its GAAP basis deficit spending!
National governments must operate with proper accrual accounting and a balanced budget to avoid currency inflation and to provide a level economic playing field for all of its citizens!
The U.S. Common Man must rise up and demand that the U.S. Government give them a level playing field by operating with GAAP Accounting and a balanced GAAP basis budget!
If the U.S. Government continues its current fiscal and accounting fraud, we are headed down the same path as Greece and Venezuela!
The U.S. Government is “Cooking the Books” (See The Oswald Financial Bubble) to enrich the U.S. upper class, enrich the U.S. ruling class, cheat the U.S. general public, and cheat the rest of the planet!
The U.S. Government is corrupt!
The senior officials of the U.S. Government are common criminals that have committed a $114.4 Trillion criminal act by not operating its fiscal policy with proper accrual accounting! The senior officials of the U.S. Government are common criminals because they are direct financial beneficiaries of this massive fraud! The corrupt and criminal U.S. Government is overpaying itself with imaginary-counterfeit money!
We have 535 criminals in the U.S. Congress and an untold number of criminals in the White House!
I have sent 14 whistleblower letters to the U.S. Securities and Exchange Commission, a whistleblower letter to every member of the U.S. Congress, and 9 whistleblower letters to each member of the U.S. Supreme Court so that all three branches of the U.S. Government would be informed of this massive fraud!
I have also sent over 200 Op-Eds to the “mainstream media” in an attempt to expose this massive fraud to the citizens of Planet Earth! None of these Op-Ed candidates have been published!
This massive fraud is explained in more detail in my Open Letter to the US Government, my Open Letter to Planet Earth, and my Open Letter to US General Public!
I have presented specific fraud charges against the U.S. Government in my Fraud Charges against U.S. Government commentary!
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.
|Cash Deficit in FY2018
|GAAP Deficit in FY2018
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Aug 21, 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” 11/22/15, “USAPonzi2” 5/1/17, and “USAPonzi3” 2/1/18! Each of these books have updates that I made every few days until the next book was published. I have published over 640 commentaries since March 29, 2013 in an attempt to explain and expose this U.S. Government fraud!
This is the biggest ($114.4 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
John W. White