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

Climate Change and the Federal Reserve II 190403 
April 3, 2019
Emailed to Glenn Rudebusch, Fed Chairman Jay Powell, Climate Change Executive Director Michael Kuperberg, and WSJ/NYT/WP/DMN 4/4/19


TO: Glenn Rudebusch
       Executive Vice President
       Federal Reserve Bank of San Franscisco, CA


CC: Jay Powell
       Chairman
       Federal Reserve Bank


CC: Michael Kuperberg
       Executive Director
       ClimateChange.gov (USGCRP)
       United States Global Change Research Program


Climate Change and the Federal Reserve
by Glenn Rudebusch
March 25, 2019


Dr. Rudebusch, this is a follow up commentary to my April 1, 2019 commentary that presented my contention that the U.S. Government accounting fraud that I call USAPonzi is causing Global Warming.


After publishing that commentary, I went back to your article and reviewed the chart on global average temperature change and noted the high degree of correlation to the upturn in global temperature with the launch date of USAPonzi in FY1969!



In FY1969, LBJ proposed and the 90th U.S. Congress approved the Unified Budget that launched the Ponzi scheme that I call USAPonzi. At that point in time, the U.S. Government stopped accruing for future benefit promises to the U.S. general public and began fraudulently borrowing money from the future Americans, money the future Americans do not have, and giving it to the current Americans with GAAP basis deficit spending!


The U.S. Government is creating counterfeit wealth and prosperity in America by fraudulently borrowing imaginary-counterfeit money from the future Americans (US Unfunded Liabilities (GAAP)), money the future Americans do not have, and giving it to the current Americans, primarily the U.S. upper class, by undertaxing them!


The following chart from the Federal Reserve Bank (FRED stands for Federal Reserve Economic Data) demonstrates how wealth in America also began a dramatic upturn in 1969 when the U.S. Government started fraudulently borrowing money from the future Americans to enrich the current Americans, primarily the U.S. upper class!


The U.S. Government has printed $123.3 Trillion of imaginary-counterfeit money to enrich the U.S. upper class and warm up planet earth!


                               U.S. Wealth 1950-2016


Since FY1969, the U.S. Government has printed $123.3 Trillion of imaginary-counterfeit money that the planet is using to buy, build, rent, and operate environment-polluting physical objects! The U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money so we can buy, build, rent, and operate an infinite number of environment-polluting physical objects!


Infinite imaginary-counterfeit money!
Infinite cars!
Infinite airplanes!
Infinite everything!


The U.S. Government is in the process of fraudulently borrowing an infinite amount of imaginary-counterfeit money from the future Americans so we can buy an infinite number of everything!


The U.S. Government is committing accounting fraud by not using accrual accounting which is causing Climate Change!


The Federal Reserve Bank has a responsibility to expose this accounting fraud and eliminate the Global Warming that is caused by this U.S. Government accounting fraud!


In your article on Climate Change and the Federal Reserve you make the following statement:


“In this century, three key forces are transforming the economy: a demographic shift toward an older population, rapid advances in technology, and climate change.”


I contend that, over the last half century, the fraudulent fiscal policy of the U.S. Government has been, by far, the most dominant force to influence the global economy! The U.S. Government is in the process of printing an infinite amount of counterfeit money so the entire planet can fraudulently buy, build, rent, and operate an infinite number of environment-polluting physical objects!


The U.S. Government has already printed $123.3 Trillion of counterfeit money to fraudulently and colossally enrich the U.S. upper class and to fraudulently stimulate the global economy!


The U.S. Government has, since FY1969, been operating its fiscal policy with Cash Accounting rather than the proper GAAP Accounting and as a result is running a classic Ponzi scheme, a massive $123.3 Trillion Ponzi scheme! The U.S. Government is committing a fiscal and accounting fraud that has fraudulently borrowed $123.3 Trillion from the future Americans and given it to the U.S upper class by undertaxing them!


The U.S. Government is not using accrual accounting to properly accrue the money to pay future U.S. Government benefit promises!


I call this Ponzi scheme fiscal policy USAPonzi” and the $123.3 Trillion of fraudulently borrowed money “imaginary-counterfeit money” since the future Americans do have $123.3 Trillion!


This accounting fraud is in the process of fraudulently borrowing an infinite amount of imaginary-counterfeit money from the future Americans and giving it to the current Americans but primarily to the U.S. upper class by undertaxing them!


This accounting fraud is in the process of fraudulently borrowing an infinite amount of imaginary-counterfeit money from the future Americans so the planet can fraudulently buy, build, rent, and operate an infinite number of environment-polluting physical objects like cars, planes, boats, houses, tall buildings, factories, oil wells, etc. etc.!


U.S. Government accounting fraud is causing Global Warming!


This accounting fraud is dramatically and exponentially accelerating the consumption rate of the entire planet!


This accounting fraud is building so many cars that we are creating traffic jams! We are in the process of building an infinite number of cars!


This accounting fraud is building so many airplanes that we cannot train pilots fast enough and well enough to safely fly them! We are in the process of building an infinite number of airplanes!


This accounting fraud is building sprawling cities in the desert like Las Vegas and Phoenix that the “real economy” cannot support and sustain!


This accounting fraud is building unsustainable cities and airports in the Middle East and China and in fact all over the planet!


The action that the Federal Reserve Bank should take to have the most near-term impact on Climate Change is to expose this U.S. Government accounting fraud!


Until we have an economy that properly correlates labor with capital, we will continue to allow the current residents of planet earth to consume assets that we should be preserving for the future residents of planet earth! The current residents of planet earth should only consume assets that have been properly earned!


USAPonzi is giving massive counterfeit wealth to the elite and undue financial rewards to many people all over planet earth especially to the residents of the United States of America


The U.S. Government is printing imaginary-counterfeit money at the rate of its GAAP basis deficit spending which is currently $16.7 Billion a day that is causing Global Warming which is destroying planet earth


The elite in America are conspiring with the U.S. Government to enrich the U.S. ruling class, to colossally enrich the U.S. upper class, to colossally cheat the U.S. general public, to colossally cheat the rest of the planet, and to destroy planet earth with Global Warming!



National Debt   $22.2 Trillion  
Cash Deficit in FY2019   $0.90 Trillion  
GAAP Deficit in FY2019   $6.10 Trillion  
US Unfunded Future Liabilities   $101.1 Trillion  
US Unfunded Liabilities (GAAP)   $123.3 Trillion  
Imaginary-Counterfeit Money   $123.3 Trillion  
Total National Assets   $138.1 Trillion  

Source: www.usdebtclock.org April 3, 2019


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!


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 fourth book on USAPonzi “USAPonziA” which is available on Amazon and on my websites in Kindle and PDF formats.


This is the biggest ($123.3 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud and “The Biggest Ponzi Scheme on the Planet”!


John W. White
Plano, TX