Car, Plane, and House Bubbles 200127
January 27, 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 1/27/20
The U.S. Government is running a Ponzi scheme, I call it USAPonzi, that is borrowing money, so far $127.9 Trillion, from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class so we can buy cars, planes, houses, and other things with this fraudulently borrowed money!
The U.S. Government is committing a fiscal and accounting fraud by operating its fiscal policy with Cash Accounting rather than proper and Generally Accepted Accounting Principles (GAAP Accounting). The U.S. Government is promising future benefits to the U.S. general public but is not taxing the U.S. upper class to pay for these promises!
The U.S. Government has already deferred $127.9 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans and undertaxed the U.S. upper class by that same amount! I call this money that is gained by the U.S. upper class being undertaxed, imaginary-counterfeit money since the U.S. Government imagines that the future Americans will eventually pay it (imaginary) and (counterfeit) because the future Americans can never pay it!
The U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money by borrowing it from the future Americans and giving it to the U.S. upper class by undertaxing them!
The entire planet is using this infinite supply of imaginary-counterfeit money to buy an infinite number of cars, an infinite number of airplanes, and an infinite number of houses, apartments, and condos!
I estimate that we have built and bought at least 1.12 billion cars with imaginary-counterfeit money that has been fraudulently borrowed from the future Americans (See Planet Earth Junkyard).
I estimate that we have built and bought on the order of 25,000-30,000 jetliners with imaginary-counterfeit money that has been fraudulently borrowed from the future Americans (See Where will we park all the damn planes).
I have not done a similar estimate for houses, apartments, and condos but the same logic applies for housing as it does for car and airplanes!
This is what is causing Global Warming; the U.S. Government is in the process of printing an infinite supply of imaginary-counterfeit money so Planet Earth is using that money to build an infinite supply of cars, planes, and housing!
The U.S. Government is causing Global Warming by printing an infinite supply of imaginary-counterfeit money so we can build an infinite suppy of environment-polluting physical objects!
The following whistleblower letters explain how the corrupt U.S. Government is committing a fiscal and accounting fraud that prints an unending and ever-increasing amount of imaginary-counterfeit money, by fraudulently borrowing it from the future Americans, so the planet can buy an unending and ever-increasing number of cars, airplanes, and houses!
Whistleblower Letter #1 to Planet Earth
Whistleblower Letter #4 to Congress
This accounting fraud can only be equitably eliminated by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government!
|Cash Deficit in FY2020
|GAAP Deficit in FY2020
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org January 27, 2020
You can learn more about this fraud/Ponzi scheme by reading my websites www.usaponzi.net and www.usaponzi.com or better yet by reading my sixth book on USAPonzi “USAPonziC” which is available on Amazon.
This is the biggest ($127.8 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Great American Fraud” and “The Biggest Ponzi Scheme on the Planet”!
John W. White