Cooking the Books 11/15/17
November 15, 2017 Emailed to WSJ/NYT/DMN on 11/15/17
The following is an Op-Ed to “The Wall Street Journal”, “The New York Times” and “The Dallas Morning News” that explains how the U.S. Government is “Cooking the Books” to enrich themselves and their U.S. upper-class friends!
The “news media” has an ethical responsibility to inform the general public of how the U.S. Government is committing fiscal and accounting fraud to cheat the general public and the rest of the planet so they can “feather their own nests” and “dramatically feather the nests of their upper-class friends”!
Cooking the Books 11/15/17
November 15, 2017
The U.S. Government is “Cooking the Books”! The U.S. Government is corrupt!
The U.S. Government is not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting)! The U.S. Government is not properly accruing for the future benefit promises that it has made to the U.S. general public. The U.S. Government has deferred $108.9 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans, has undertaxed the U.S. upper class by $108.9 Trillion, and has underfunded the future benefit promises to the U.S. general public by $88.4 Trillion.
The U.S. Government has borrowed $108.9 Trillion from the future Americans, money that the future Americans do not have, and given this $108.9 Trillion to the U.S. upper class. But since the future Americans cannot pay these deferred liabilities, I call this fraudulently borrowed money “imaginary-counterfeit money”. The corrupt U.S. Government has borrowed $108.9 Trillion of monopoly money from the future Americans and given it to the U.S. upper class! The U.S. Government has created $108.9 Trillion out of “thin air” and given it to the U.S. upper class!
The U.S. Government is “Cooking the Books” to enrich the U.S. upper class by $108.9 Trillion (US Unfunded Liabilities (GAAP)), is cheating the U.S. general public by $88.4 Trillion (US Unfunded Future Liabilities) by underfunding the future U.S. Government benefit promises, and is overpaying the government employees and related businesses creating a National Debt of $20.5 Trillion! This accounting fraud, if continued, will give the U.S. upper class infinite imaginary-counterfeit wealth simply by pretending to borrow an unlimited amount of monopoly money from the future Americans, money that the future Americans do not have!
GAAP basis deficit spending by the U.S. Government creates imaginary-counterfeit money in the pockets of the individuals and corporations that did not have to pay the taxes to cover this deficit spending. Spending money you do not have, produces imaginary money that has no real value unless it can be paid by someone at a later date!
This is a classic Ponzi scheme (USAPonzi) because the U.S. Government is paying the current Americans (primarily the U.S. upper class) with imaginary-counterfeit money that it is fraudulently borrowing from the future Americans! This is a $108.9 Trillion fraud/Ponzi scheme!
This U.S. Government accounting fraud is why the 1% in America are getting richer and richer and the rest of America is struggling. The U.S. Government is printing imaginary-counterfeit money, $108.9 Trillion to date, to enrich the U.S. upper class while the U.S. Common Man typically has to earn “real money” with an hourly wage! And the prices for goods and services are set by the imaginary-counterfeit money that the U.S. Government is producing out of “thin air” and giving to the U.S. upper class! This is why we have seen inflation of nominally 5% per year since USAPonzi was launched in FY1969!
This is why we have a wealth and income gap; the corrupt U.S. Government has fraudulently given the U.S. upper class $108.9 Trillion!!!!
The U.S. general public is going to be “mad as hell” when the U.S. Government finally confesses to this accounting fraud that the U.S. Government is perpetrating!
Because the U.S. Government is creating imaginary-counterfeit money out of “thin air” by pretending to borrow it from the future Americans, we are filling the planet with junk that the current Americans are buying with this imaginary-counterfeit money!
The U.S. Government is “Cooking the Books”!
The U.S. Government is corrupt!
The U.S. Government is running a $108.9 Trillion Ponzi scheme!
The senior members of the U.S. Government are “Criminals, Scoundrels, Liars, and Cheaters”!
|Cash Deficit in FY2018
|GAAP Deficit in FY2018
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Nov 15, 2017
To eliminate this fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.
I have published a website www.usaponzi.net that explains how this fraud works to create a massive global wealth and income gap between the haves and the have-nots and to create false wealth and prosperity for the current Americans. The www.usaponzi.net website is an introduction to my more detailed website www.usaponzi.com and my books “USAPonzi” (Nov 22, 2015) and “USAPonzi2” (May 1, 2017) which are available on Amazon to better explain this fraud/Ponzi scheme.
This fraud/Ponzi scheme is also explained in “short story style” in my October 1, 2017 commentary USAPonzi CliffsNotes and in my October 8, 2017 commentary USAPonzi Elevator Speech.
This is the biggest ($108.9 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
John W. White