Cryptocurrency-A Ponzi Scheme in a Disguise 210517
May 17, 2021
Emailed to United Nations, Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/CNBC/DMN on 5/17/21
I contend that Cryptocurrencies should be illegal!
I contend that a Cryptocurrency is a supercharged Ponzi Scheme on steroids in an elaborate disguise as a digital currency!
The Securities and Exchange Commission should inform the investing public that the U.S. Government is running a $147.9 Trillion Ponzi scheme and that cryptocurrencies are supercharged Ponzi schemes built on this master Ponzi scheme that I call USAPonzi!
I am a whistleblower! The U.S. Government is corrupt!
The corrupt and criminal U.S. Government is committing a fiscal and accounting fraud, a Ponzi scheme I have named USAPonzi, to enrich the U.S. upper class by cheating the U.S. general public! The corrupt and criminal U.S. Government is tricking the U.S. general public into thinking they will get future U.S. Government benefits, valued at $119.6 Trillion, that the corrupt U.S. Government is not funding so that it can undertax and enrich the U.S. upper class by $147.9 Trillion!
Now, the corrupt and criminal U.S. Government is allowing other criminals to put a supercharger on this Ponzi scheme to allow the issuers of cryptocurrencies to gain even more fraudulent and outrageous wealth from the corrupt U.S. Government accounting fraud that I call USAPonzi!
What Is Cryptocurrency?
A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology—a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation.
The issuers of these cryptocurrencies are selling shares in their currency when they own zero-cost basis shares that increase in value as the gullible investing public pours more and more money into the currency! The gullible public sees the value of their shares appreciating so more and more investors clamber to put more and more money into the popular cryptocurrencies!
This causes the total value of a cryptocurrency to increase quite rapidly because the value of all coins in the cryptocurrency appear to assume the value of the price paid by the last gullible investor! That is why I say that a cryptocurrency is a Ponzi scheme on steroids!
The corrupt U.S. Government is the criminal enabler of these cryptocurrencies by running a Ponzi scheme/accounting fraud, I call it USAPonzi, that is in the process of borrowing an infinite amount of money, I call it imaginary-counterfeit money, from the future Americans and giving it to the U.S. upper class!
The issuers of these cryptocurrencies are setting up these digital currencies with the stated intent of providing a secure method for exchanging funds between trading partners when the real intent is to increase the value of the issuer's holding in the cryptocurrency!
This has become such a popular scheme that now there are thousands of cryptocurrencies that have been issued to collect this imaginary-countefeit money that the corrupt U.S. Government is fraudulently borrowing from the future Americans!
How Many Cryptocurrencies Are There In 2021?
By John Wanguba Last updated Jan 28, 2021
According to CoinMarketCap, the total number of cryptocurrencies is 7,812 with a total market cap of $324.716 billion (as of January 20, 2021). Coinlore offers a different count, listing a total of 6241 cryptocurrencies.
I contend that these cryptocurrencies are nothing but Ponzi schemes disguised as distributed digital mediums of exchange that are all funded by the Ponzi scheme that I call USAPonzi which is sponsored by the corrupt U.S. Government!
The corrupt U.S. Government is printing an infinite amount of imaginary-counterfeit money so the gullible investors in these cryptocurrencies have an unending and ever-increasing (infinite) amount of money to invest in these cryptocurrencies!
Sadly, when USAPonzi implodes and the imaginary-counterfeit money evaporates, the value of these cryptocurrencies will all be essentially ZERO!
The following chart gives a graphical projection of how the corrupt U.S. Government could fraudulently borrow as much as a Quadrillion dollars (a thousand Trillion dollars) of imaginary-counterfeit money from the future Americans over the next three decades and give it to the U.S. upper class so it can keep both USAPonzi and the cryptocurrency Ponzi schemes going!
Some of these cryptocurrencies could appear to be quite valuable after the corrupt U.S. Government has printed a few Quadrillion dollars of imaginary-counterfeit money!
The corrupt U.S. Government is lying to and cheating the U.S. general public by promising but not funding future benefits so they can enrich the U.S. upper class with trillions of imaginary-counterfeit money and so Americans can buy a whole lot of stuff, including cryptocurrencies, with imaginary-counterfeit money!
The U.S. general public is not going to be happy when they find out that they are being cheated so the U.S. upper class can get really rich with imaginary-counterfeit money!
The rest of the planet is not going to be happy when they find out that they are being cheated because Americans are fraudulently buying stuff with imaginary-counterfeit money!
When this now $147.9 Trillion crime by the U.S. Government is exposed, USAPonzi will implode, the imaginary-counterfeit money will evaporate, and all of the cryptocurrencies will be worth essentially nothing!
This commentary (Chaos-Civil Unrest-Depression by US Gov Fraud 120508) presents my prediction of what will likely happen when this Ponzi scheme implodes!
Cryptocurrencies are “legal” Ponzi schemes on steroids!
|US National Debt
|Cash Deficit in FY2021
|GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org May 17, 2021
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain USAPonzi and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can also be downloaded from my www.usaponzi.net website.
John W. White