American Corruption is killing Planet Earth 201115
November 15, 2020
Emailed to United Nations, Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/CNBC/DMN on 11/13/20
American Corruption is killing Planet Earth! The U.S. Government is corrupt and this is causing radical inequity between America and the rest of Planet Earth and is causing radical inequity between the elite and the common man within America! The primary cause of this corruption is the fact that the U.S. Government is operating its fiscal policy with Cash Accounting rather than proper and Generally Accepted Accounting Principles (GAAP Accounting).
The effect of using this fraudulent accounting is that as time goes on, Americans can buy whatever they want without paying for it! The U.S. Government is offering unaffordable and unfunded future benefits to the U.S. general public and is not taxing the U.S. upper class to accrue for these future benefits!
This dramatically enrichs the U.S. upper class because they are undertaxed and cheats the U.S. general public because their expected future benefits are not being funded! The cost of these future benefits is deferred to the future Americans!
This is the primary cause of the inequity between the elite and the common man, the U.S. upper class is getting filthy rich and U.S. general public is getting screwed because the U.S. Government is not accruing the money to pay these promised future benefits!
The U.S. upper class has been given $155.5 Trillion (US Unfunded Liabilities (GAAP)) because they have been undertaxed, the expected future benefits to the U.S. general public have been underfunded by $128.3 Trillion (US Unfunded Future Liabilities), and the U.S. Government has spent $27.2 Trillion (National Debt) more than it has collected in taxes!
The future Americans now have to pay back this $155.5 Trillion (US Unfunded Liabilites (GAAP)) which of course will never be paid!
This is the primary cause of the inequity between America and the rest of the planet, Americans are buying stuff and putting it on the credit card of the future Americans! The balance due on that credit card is $155.5 Trillion!
By using Cash Accounting, we have admitted to the fact that the future Americans are expected to pay back our National Debt of $27.2 but we have concealed the fact the future Americans also owe the $128.3 Trillion to cover the cost of the Unfunded Future Liabilities!
This is a classic Ponzi scheme, I call it USAPonzi, it enrichs the early participants and pretends like the late participants will be able to pay for it!
The fiscal policy is in effect borrowing unlimited amount (infinite) of money from the future Americans and giving it to current Americans, primarily the U.S. upper class which is allowing the current Americans to buy an unlimited (infinite) amount of stuff and defer the cost of these purchases to the future Americans. We are buying so much stuff with this fiscal policy that we are causing Global Warming which is killing Planet Earth!
This fiscal policy is allowing us to spend money without earning it so we can live wherever we want to! This allows us to move to the bigger and bigger cities and be closer and closer together which is quickly spreading germs that are now killing people all over Planet Earth with the Coronavirus Pandemic!
Natural order would keep the population spread much more evenly across the Planet where people would be required to work for a living
The financial experts at Goldman Sachs would be advised to read and heed my November 2, 2020 commentary USAPonzi-The Blackest Black Swan!
See USAPonzi-The Great American Fraud!
See Whistleblower Letter #6 to the U.S. Congress!
See Quintet of Global Crises (Economy, Climate, Health, Hunger, and Depression)!
|US National Debt
|Cash Deficit in FY2021
|GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org November 13, 2020
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain this Ponzi scheme/fraud 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