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 U.S. General Public-current
March 18, 2019


The U.S. Government is corrupt!


The U.S. Government is lying to and cheating the U.S. general public by promising future U.S. Government benefits but not properly funding them!


This is be biggest “bait and switch” scam ($101.0 Trillion) ever perpetrated!


The U.S. Government is promising unaffordable, unfunded, and unpayable future benefits to the U.S. general public that it has no intention or capability to pay!


The U.S. Government is perpetrating this scam so that it can dramatically overpay the U.S. ruling class and colossally enrich the U.S. upper class!


The U.S. Government has used a simple accounting trick to create $123.1 Trillion of imaginary-counterfeit money out of “thin air” and give it the U.S. upper class!


This is an “Open Letter to U.S. General Public” that explains how the U.S. Government is committing a fiscal and accounting fraud that is causing the United States of America to appear to be the richest and most prosperous country on the planet! The U.S. Government is fraudulently and continuously borrowing money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class!


The U.S. Government has fraudulently borrowed $123.1 Trillion from the future Americans and given it to the U.S. upper class! This is fraud because the future Americans do not have $123.1 Trillion!


This accounting fraud is Enriching the U.S. Upper Class!


This accounting fraud is Cheating the U.S. General Public!


The U.S. Government is cheating the 99% so that it can enrich the 1%!


The U.S. Government is committing fiscal and accounting fraud by assessing and reporting its financial condition with Cash Accounting rather than proper GAAP Accounting (Generally Accepted Accounting Principles)!


Because the U.S. Government is not using the proper accounting system, 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 promises! The U.S. Government is not using accrual accounting, called GAAP Accounting in America, which would properly accrue the money to pay future U.S. Government benefits!


Because of this accounting fraud, the U.S. upper class is getting rich and the U.S. general public is getting cheated! So far, the U.S. upper class has been given $123.1 Trillion (Unfunded Liabilities (GAAP)), the U.S. ruling class has been overpaid by $22.1 Trillion (National Debt), and the U.S. general public has been cheated by $101.0 Trillion (Unfunded Future Liabilities)!


The U.S. Government has made the decision to underfund the future benefit promises to the U.S. general public so that it can overpay the U.S. ruling class and enrich the U.S. upper class!


Because the U.S. upper class is being undertaxed by $123.1 Trillion, the future Americans are now on the hook to pay $123.1 Trillion of deferred public liabilities which can never be paid! The U.S. Government is in the process of 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!


The U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is fraudulently borrowing money, I call it imaginary-counterfeit money, from the future Americans and giving it to the U.S. upper class!


GAAP basis deficit spending by the U.S. Government digitally prints imaginary-counterfeit money and gives it to the U.S. upper class by undertaxing them! When the U.S. Government assumes public liabilities, the private sector gains private assets! The U.S. Government has fraudulently assumed $123.1 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) and the U.S. upper class has gained $123.1 Trillion  of imaginary-counterfeit money!


The U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money and giving it to the U.S. upper class (See Printing Infinite Counterfeit Money)!


But for the U.S. general public, this accounting fraud will be devastating! This accounting fraud has underfunded the U.S. Government benefit promises by $101.0 Trillion! The U.S. general public, that has been paying taxes to fund their future Social Security and Healthcare, will be devastated and irate when they find out that the U.S. Government has chosen to overpay the U.S. ruling class by $22.1 Trillion and enrich the U.S. upper class by $123.1 Trillion rather than make good on its promises to pay future U.S. Government benefits!


The corrupt and criminal U.S. Government is lying to and cheating the U.S. general public!


The corrupt and criminal U.S. Government is lying to you and cheating you by promising you future benefits (Social Security, Healthcare, Pensions, Veteran's Benefits, etc.) that it has no intention or capability to pay!


The corrupt and criminal U.S. Government has fraudulently borrowed $123.1 Trillion from the future Americans and given it to the U.S. upper class!


The corrupt and criminal U.S. Government has fraudulently overpaid itself and its related businesses by $22.1 Trillion!


The corrupt and criminal U.S. Government has fraudulently underfunded the benefit promises that it has made to you, the U.S. general public, by $101.0 Trillion!


The corrupt and criminal U.S. Government is enriching the rich and cheating the poor by committing fiscal and accounting fraud!


The corrupt and criminal U.S. Government is fraudulently borrowing $16.7 Billion every day from the future Americans and giving it to the U.S. upper class!


The U.S. Government is taking away the money to fund your future benefits and giving it to the U.S. upper class and the U.S. ruling class!


The U.S. Government is lying to and cheating the U.S. general public by promising them future benefits that it is not funding so that it can give infinite imaginary-counterfeit wealth to the U.S. upper class!


This accounting fraud is causing the Wealth and Income Gap by giving the U.S. upper class an infinite amount of imaginary-counterfeit money! So far, this accounting fraud has given the U.S. upper class $123.1 Trillion and is giving them $16.7 Billion more every day with GAAP basis deficit spending! The U.S. Government GAAP basis deficit in FY2019 is estimated to be $6.10 Trillion!


The U.S. Government likes the U.S. upper class a lot more than it likes the U.S. general public! The U.S. upper class pays bigger bribes and makes bigger campaign contributions than the U.S. general public! The U.S. upper class has lots of money to pay bribes and make campaign contributions because the corrupt and criminal U.S. Government has fraudulently given the U.S. upper class $123.1 Trillion of imaginary-counterfeit money!


GAAP Accounting
, properly applied, would prevent the U.S. Government from borrowing more money from the future Americans than the future Americans can be reasonably expected to pay!


The U.S. Government must adopt GAAP Accounting (Generally Accepted Accounting Principles) and commit to a balanced GAAP basis budget in order to eliminate this fiscal and accounting fraud and properly accrue for the future U.S. Government benefit promises that have been made to the U.S. general public!


The U.S. Government, and all sovereign entities that sponsor a currency that is used in international trade, must adopt GAAP Accounting, or its basic equivalent, to provide a level economic playing field in America and throughout Planet Earth!


This fraud/Ponzi scheme (USAPonzi) is explained in much more detail on my websites www.usaponzi.net and www.usaponzi.com and in my books USAPonzi, USAPonzi2, USAPonzi3, and my latest USAPonziA.


This is the biggest ($123.1 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.


Financial data sourced from www.usdebtclock.org as of March 18, 2019.


John W White
Plano, TX