The Biggest Ponzi Scheme on the Planet-The U.S. Government
"American Economic Exceptionalism Explained"                     USAPonzi                                      by John W. White   Mar 29, 2013

Cheating the Rest of the Planet-current
December 11, 2019


In this commentary I will explain how the U.S. Government is committing a fiscal and accounting fraud that is cheating the rest of the planet!


The U.S. Government is corrupt! The U.S. Government is promising future benefits to the U.S. general public but is not taxing the U.S. upper class enough to pay for these future benefits! The U.S. Government is enriching the U.S. upper class and cheating the U.S. general public by not accruing for the promised future benefits to the U.S. general public!


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)! By not using proper GAAP Accounting, the U.S. Government is not accruing the money to pay for the future benefit promises!


When the U.S. Government does not tax the U.S. upper class enough to pay for future benefit promises, the U.S. Government defers this cost to the future Americans (US Unfunded Liabilities (GAAP) currently $127.2 Trillion) and undertaxes the U.S. upper class by that same amount! 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 produced a classic Ponzi scheme fiscal policy, I call it USAPonzi, that is in the process of fraudulently borrowing an infinite amount of money, I call it imaginary-counterfeit money, from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!


The money that the U.S. Government is fraudulently borrowing from the future Americans does not exist (imaginary) and has no value (counterfeit) hence the name imaginary-counterfeit money! The U.S. Government is pretending like the future Americans will someday pay this money, currently $127.2 Trillion but of course it will never be paid!


The U.S. Government is running a classic Ponzi scheme that is in the process of printing an infinite amount of imaginary-counterfeit money by fraudulently deferring public liabilities (US Unfunded liabilities (GAAP)) to the future Americans, money that the future Americans cannot pay, and undertaxing the U.S. upper class! GAAP basis deficit spending by the U.S. Government prints imaginary-counterfeit money and gives it to the U.S. upper class!


The U.S. Government is cheating the rest of the planet because the U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money that Americans are using to buy an infinite amount of stuff from themselves and the rest of the planet without having to pay one plugged nickel of earned income!


The U.S. Government is in the process of fraudulently borrowing an infinite amount of imaginary-counterfeit money from the future Americans, money the future Americans do not have, so the current Americans can fraudulently buy an infinite amount of stuff from the rest of the planet without having to pay for any of it!


This Ponzi scheme that I call USAPonzi is fraudulently:


Printing infinite counterfeit money
Enriching the U.S. upper class
Enriching the U.S. ruling class
Cheating the U.S. general public
Cheating the rest of the planet
Causing Social Injustice
Causing Wealth and Income Inequality
Causing Global Warming
Destroying Planet Earth


Americans are buying stuff from each other and from the rest of the planet without having to pay for it by spending imaginary-counterfeit money that the U.S. Government has created out of “thin air” by pretending to borrow it from the future Americans!


The U.S. Government is cheating the rest of the planet by not using proper GAAP Accounting to assess and report its financial condition! GAAP Accounting, properly applied, would not let the U.S. Government borrow more money from the future Americans than the future Americans can be reasonably expected to pay!


It is absurd that the U.S. Government has fraudulently borrowed $127.2 Trillion from the future Americans and given it to the U.S. upper class!


I have written two websites (usaponzi.net and usaponzi.com) and six books (the latest is USAPonziC) which are available on Amazon that explain how this U.S. Government fiscal and accounting fraud got started, the problems it is causing, and what I predict will happen when USAPonzi implodes!

 

National Debt  $23.1 Trillion 
Cash Deficit in FY2020  $1.04 Trillion 
GAAP Deficit in FY2020  $6.13 Trillion 
US Unfunded Future Liabilities  $104.1 Trillion 
US Unfunded Liabilities (GAAP)  $127.2 Trillion 
Imaginary-Counterfeit Money  $127.2 Trillion 
Total National Assets  $148.7 Trillion 

Source: www.usdebtclock.org December 11, 2019


This imaginary-counterfeit money will evaporate into the “thin air” from whence it came when USAPonzi implodes!


This is the biggest ($127.2 Trillionfinancial fraud ever perpetrated, I call it “USAPonzi: The Great American Fraud and “The Biggest Ponzi Scheme on the Planet”.


John W White
Plano, TX