Borrowing from the Future! Op-Ed to WSJ/NYT/DMN 10/19/16
October 19, 2016 Emailed to WSJ/NYT/DMN 10/19/16
The following is an Op-Ed
To: The Wall Street Journal
The New York Times
The Dallas Morning News
The Wall Street Journal, The New York Times, and The Dallas Morning News are now co-conspirators in this U.S. Government fraud (USAPonzi) by refusing to expose this massive fiscal and accounting fraud and corruption! The U.S. Government is committing criminal fraud by borrowing $103.9 Trillion of imaginary-counterfeit money from the future Americans and giving it to the current Americans, primarily to the U.S. upper class. It should be obvious to the most casual observer that the future Americans cannot pay the U.S. Government this $103.9 Trillion of fraudulently borrowed money! This is a $103.9 Trillion criminal fraud!
Borrowing from the Future!
October 19, 2016
The U.S. Government is borrowing money from the future Americans to create counterfeit wealth and prosperity for the current Americans.
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Oct 19, 2016
As of October 19, 2016, the U.S. Government has borrowed $103.9 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans to enhance the lifestyle of all current Americans, to significantly enhance the lifestyle of the U.S. ruling class, and to dramatically enhance the lifestyle of the U.S. upper class. The only problem is that the future Americans do not have $103.9 Trillion. The U.S. Government is committing criminal fraud. The U.S. Government is simply fooling the rest of the planet by pretending like it will make good on this $103.9 Trillion of unfunded financial commitments.
The U.S. Government is using a corrupt and fraudulent fiscal policy and accounting system in an attempt to conceal this criminal activity. The U.S. Government is using Cash Accounting rather than the proper GAAP Accounting so that it can stealthily borrow Trillions of dollars from the future Americans to dramatically enhance the lifestyle of the current Americans.
This is a classic Ponzi scheme. The early participants get paid with money from the late participants but at some point the current participants will realize that the late participants do not have enough money to keep paying the current participants. The U.S. Government has been pulling this "fast one" on the rest of the planet and the Common Man for the last 48 years (See The Implosion of USAPonzi).
I call the money that the U.S. Government is borrowing from the future Americans imaginary-counterfeit money. It is imaginary because the U.S. Government imagines that the future Americans can pay it but it is counterfeit because the future Americans cannot pay it.
Truth in U.S. Government financial accounting and reporting will show that Americans have been living in a fantasy economic world for the last half century. Americans are living dramatically beyond their means because of this U.S. Government fiscal and accounting fraud and corruption. And the senior officials of the U.S. Government are themselves being dramatically enriched by this fraud that I call USAPonzi (See The Senior U.S. Government Officials Are Criminals).
The U.S. Government is slipping money, albeit imaginary-counterfeit money, to the U.S. upper class and to themselves at an astounding rate! The U.S. Government does this by undertaxing the current Americans but primarily the U.S. upper class. The U.S. Government has fraudulently deferred $103.9 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans over the last 48 years, which dramatically elevates the standard of living of the current Americans, especially the U.S. upper class. $103.9 Trillion should perk up just about anyone's day (See The Concept of Imaginary-Counterfeit Money).
The U.S. and global citizenry needs to understand that the U.S. Government is borrowing/stealing money, $103.9 Trillion to date, from the future Americans and giving it to the current Americans. The U.S. Government is giving most of this money to the U.S. upper class but is also making many of the senior U.S. Government officials wealthy with this fiscal and accounting fraud (See The Clinton Fraud). This is the biggest crime ever committed and it is being perpetrated by the Government of the United States of America.
This massive but fraudulent wealth transfer from the future Americans to the current Americans is being conducted in plain sight but it is being camouflaged to some degree by the use of fraudulent accounting. This fraud and corruption can only be eliminated by the U.S. Government adopting GAAP Accounting and committing to a balanced GAAP basis budget.
This fraud and corruption within the U.S. Government is explained in much more detail on my website www.usaponzi.com and in my book "USAPonzi" that is available on Amazon in Kindle and paperback formats.
The size of this U.S. Government fraud is easily determined; it is the amount of imaginary-counterfeit money that the U.S. Government has borrowed/stolen from the future Americans which is reported on www.usdebtclock.org as US Unfunded Liabilities (GAAP).
USAPonzi is a massive ($103.9 Trillion) fraud; "The Biggest Ponzi Scheme on the Planet"!
John W. White