Whistleblower Letter #1 to St Louis Fed Pres Bullard
February 22, 2020
Emailed to St Louis Fed President James Bullard, WSJ/NYT/WP/CNBC/DMN, the U.S. SEC, Fed Chairman Jay Powell, Dallas Fed President Robert Kaplan, Minneapolis Fed President Neel Kashkari, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz 2/25/20
James (“Jim”) Bullard is the president and CEO of the Federal Reserve Bank of St. Louis. In that role, he is a participant on the Federal Reserve’s Federal Open Market Committee (FOMC), which meets regularly to set the direction of U.S. monetary policy.
I sent this letter to President Bullard, Chairman Powell, President Kaplan, and President Kashkari by USPS on February 24, 2020 to inform them of the massive ($128.3 Trillion) accounting fraud that is being perpetrated by the U.S. Government!
This letter is addressed to President Bullard since this is my first communication to him. I have sent numerous emails/letters to Chairman Powell, President Kaplan, and President Kashkari.
Whistleblower Letter #1
to St Louis Fed President James Bullard
February 22, 2020
The U.S. and Global Economies are both being fraudulently stimulated by a $128.3 Trillion U.S. Government fiscal and accounting fraud that I call USAPonzi!
The U.S. Government is in the process of fraudulently borrowing an infinite amount of money from the future Americans and giving it to the U.S. upper class!
President James Bullard
Federal Reserve Bank of St. Louis
P.O. Box 442
St. Louis, MO 63166-0442
Chairman Jerome H. Powell
Federal Reserve Bank of the United States
20th Street and Constitution Avenue N.W
Washington, D.C. 20551
President Robert S. Kaplan President Neel Kashkari
Federal Reserve Bank of Dallas Federal Reserve Bank of Minneapolis
2200 North Pearl Street 90 Hennepin Avenue
Dallas, TX 75201 Minneapolis, MN 55401
John W White
This is the most important letter you will ever receive!
This letter can be read from my website to activate the hyperlinks.
My name is John W. White and I am a retired information technology executive! I have been studying and writing about this U.S. Government accounting fraud for the last seven years! This accounting fraud is caused by the U.S. Government not operating its fiscal policy with the proper accrual accounting!
I am writing to explain why the U.S. economy is continuing to show strength even when several trade, immigration, economic, geo-political, and Coronavirus concerns appear to be negatively impacting the global economy!
The U.S. Government has inverted the global monetary system by not using proper accrual accounting! Rather than operating the global economy with earned income augmented by some debt, we are operating the global economy with a massive amount of debt augmented by some earned income!
The U.S. Government is in the process of fraudulently borrowing an infinite amount of money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!
I call this fraudulently borrowed money, imaginary-counterfeit money, since it does not exist (imaginary) and has no value (counterfeit)!
So far, the U.S. Government has borrowed $128.3 Trillion of imaginary-counterfeit money from the future Americans and is borrowing another $16.8 Billion of imaginary-counterfeit money every day with ongoing GAAP basis deficit spending and giving it to the U.S. upper class by undertaxing them!
The U.S. Government is printing imaginary-counterfeit money to stimulate both the U.S. economy and the global economy!
By printing this imaginary-counterfeit money, the U.S. Government is also causing Global Warming that is Destroying Planet Earth!
The U.S. economy appears to be strong and getting stronger because the U.S. Government is committing a fiscal and accounting fraud that is printing imaginary-counterfeit money so Americans can buy stuff without paying for it! This accounting fraud has so far printed $128.3 Trillion of imaginary-counterfeit money!
The U.S. Government is operating its fiscal policy with Cash Accounting rather than proper and Generally Accepted Accounting Principles (GAAP Accounting)! As a result, the U.S. Government is not properly accruing the money to pay future U.S. Government benefits!
Because of this accounting fraud the U.S. Government is fraudulently borrowing money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class! This has been happening for the last 50 years since LBJ proposed and the 90th Congress approved the Unified Budget.
In FY1969, when the Unified Budget went into effect, the U.S. Government stopped taxing the U.S. upper class to pay for these future benefits! The U.S. Government has deferred $128.3 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans and undertaxed the U.S. upper class by $128.3 Trillion which has produced $128.3 Trillion of imaginary-counterfeit money that has been given to the U.S. upper class!
This is why the U.S. upper class is getting rich and why the rest of the Americans are getting cheated! This is why we have a wealth and income gap! The U.S. Government has fraudulently given the U.S. upper class $128.3 Trillion!
This is why Jeff Bezos is now worth $130 Billion! The U.S. Government has printed $128.3 Trillion of imaginary-counterfeit money so Americans can buy a lot of stuff from Amazon without having to pay for it!
This accounting fraud has created millions of imaginary-counterfeit millionaires and hundreds of imaginary-counterfeit billionaires!
This accounting fraud has the effect of printing imaginary-counterfeit money at the rate of the U.S. Government GAAP basis deficit spending which is currently estimated to be about $6.13 Trillion in FY2020 or $16.8 Billion every day!
This is why the U.S. economy appears to be strong in spite of the other issues that we face globally! The U.S. Government has printed $128.3 Trillion of imaginary-counterfeit money to stimulate the U.S. and global economies!
The U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is printing imaginary-counterfeit money so Americans can buy things without paying for them!
This Ponzi scheme is the cause of Global Warming; the U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money so the planet can build, buy, rent, and operate an infinite number of environment-polluting physical objects!
USAPonzi is in the process of building an infinite number of cars, trucks, boats, airplanes, houses, factories, oil wells, skyscrapers, airports, cities, etc. etc. that are being paid for with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans with GAAP basis deficit spending!
USAPonzi is causing Global Warming that is Destroying Planet Earth!
The following chart shows how global temperatures started to rise in 1969 when USAPonzi was launched!
On January 20, 2020 I sent the following letter, my fourth such letter, to every member of the U.S. Congress in an attempt to inform them of this fiscal and accounting fraud that I call USAPonzi!
Whistleblower Letter #4 to the 116th U.S. Congress
The following table gives a summary of the financial status of the U.S. Government as of February 22, 2020.
|Cash Deficit in FY2020
|GAAP Deficit in FY2020
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org February 22, 2020
This chart shows how borrowing $128.3 Trillion of imaginary-counterfeit money from the future Americans has produced great wealth for the U.S. upper class as indicated by the Total National Assets of $146.2 Trillion!
Public liabilities produce private assets!
I have written two websites (USAPonzi.com and USAPonzi.net) and seven books (the latest is USAPonziD which is available on Amazon) that explain this fraud and the impact it is having on Planet Earth!
I have written Whistleblower Letter #1 to Planet Earth in an effort to provide a short and concise explanation of this U.S. Government fiscal and accounting fraud that I call USAPonzi.
John W. White