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

"Drain the Swamp" by Congressman Ken Buck
April 25, 2017  Emailed to WSJ/NYT/DMN on April 26, 2017


The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that presents a congratulatory letter to Congressman Ken Buck (R-CO) for having the intestinal fortitude to write a book "Drain The Swamp" that exposes corruption within the U.S. Government.


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".


"Drain the Swamp" by Congressman Ken Buck

April 25, 2017


The Honorable Ken Buck
Congressman- 4th District of Colorado
416 Cannon House Office Building
Washington, DC 20515-0604


I was surprised to learn of your new book "Drain the Swamp" that explains the corruption in the U.S. Government that you discovered after you had joined "the club". I too am appalled to hear some of the inner workings of our government, which you describe in your book, that are used to get "deals done"!


I have, for the last several years, been trying to expose the massive fraud and corruption within the U.S. Government that is enriching the U.S. ruling class and colossally enriching the U.S. upper class.


I have only read excerpts from your book and the teasers on Amazon but I have now ordered your book and look forward to reading the details (http://www.denverpost.com/2017/04/13/ken-buck-fundraising-culture-washington-congress/).


I applaud you for taking a stand to expose this corruption. It takes real courage to make this kind of activity known to the general public. But that is exactly what we as citizens of the United States should expect from all of our leadership in Washington.


I could not believe that congressmen would be required to pay periodic dues ($200,000 to $450,000) to the National Republican Congressional Committee for their seats on various committees.


But the item that intrigued me the most was your comments about how new spending is justified by finding cuts in other spending to offset the new spending. You note that spending reductions get re-used to justify various new spending proposals and that often times these reductions never materialize. This haphazard approach to financial management has been evident to the U.S. citizenry for many years. It is my contention that this is the primary cause of corruption within the U.S. Government. Your proposal for fixing this problem is to keep a record of what spending cuts were used for each proposal and to verify that these cuts were actually realized.


I too have been concerned about the corruption within the U.S. Government that is caused by not keeping a proper and accurate accounting record of how U.S. Government spending relates to income. It is my contention that the only way to accomplish what you propose is to use what Certified Public Accountants call GAAP Accounting (Generally Accepted Accounting Principles). Until the U.S. Government adopts GAAP Accounting and commits to a balanced GAAP basis budget, Congress can never know what is affordable and what is not.


The current Cash Accounting based fiscal policy is enriching the U.S. ruling class, is colossally enriching the U.S. upper class, is colossally cheating the U.S. Common Man, and is colossally cheating the rest of the planet. Using Cash Accounting for U.S. Government financial management is like using the rule book for ping pong to officiate an NFL football game.


In FY1969, LBJ proposed that we adopt a "Unified Budget" which caused the U.S. Government to stop properly accruing for future benefit promises and therefore we began operating on a Cash Accounting basis. This introduced a Ponzi scheme, I call it USAPonzi, that has now produced $105.9 Trillion of US Unfunded Liabilities (GAAP) (see www.usdebtclock.org). This is a $105.9 Trillion financial fraud that the U.S. Government has been committing for the last 48 years. The U.S. Government, by not using proper accounting, has fraudulently borrowed $105.9 Trillion of imaginary-counterfeit money from the future Americans and given it to the U.S. upper class by undertaxing them. This accounting fraud is appearing to make the U.S. upper class very rich and has given the current Americans $105.9 Trillion of imaginary-counterfeit money to spend.

 

National Debt  $19.9 Trillion 
Cash Deficit in FY2017  $0.59 Trillion 
GAAP Deficit in FY2017 
$5.59 Trillion 
US Unfunded Future Liabilities  $86.0 Trillion 
US Unfunded Liabilities (GAAP)  $105.9 Trillion 
Iimaginary-Counterfeit Money  $105.9 Trillion 
Total National Assets  $130.8 Trillion 

Source: www.usdebtclock.org April 25, 2017


This USAPonzi scheme has produced $105.9 Trillion of imaginary-counterfeit money out of "thin air" by fraudulently borrowing it from the future Americans and giving it to the U.S. upper class so that rich lobbyists, rich businessmen, and rich companies can have the money, albeit imaginary-counterfeit money, to make large donations to individual congressmen's fund raisers so that the congressmen can pay their dues so that they can keep their seats on key committees so that they can do the will of the lobbyists, businessmen, and companies that made contributions with the imaginary-counterfeit money produced by U.S. Government fraud.


Corruption breeds corruption!


USAPonzi has produced $105.9 Trillion of imaginary-counterfeit money!


The U.S. Government has given the U.S. upper class $105.9 Trillion of imaginary-counterfeit money simply by deferring $105.9 Trillion of public liabilities to the future Americans!


The concept of imaginary-counterfeit money
is difficult to understand but it is money that the U.S. upper class gains by not having to pay the tax bill that has been deferred to the future Americans. The U.S. Government is enriching the U.S. upper class simply by deferring public liabilities to the future Americans. The current fraudulent fiscal policy, USAPonzi, will give the U.S. upper class infinite imaginary-counterfeit wealth by deferring an infinite amount of public liabilities to the future Americans. This is what makes a Ponzi scheme a Ponzi scheme.


I too have written a book "USAPonzi" that explains how this U.S. Government fraud works. I feel that your book and my book should be required reading for every senior member of the U.S. Government. I can tell by my early review of your book that yours will be much easier to read than mine, because my book is quite repetitive, but everyone in Washington needs to understand and heed the message in each of these books.


The corruption within the U.S. Government must be quickly eradicated!


The U.S. Government fraud, that I call USAPonzi, 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.


I have also published a website www.usaponzi.net that explains how this USAPonzi scheme 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. My book "USAPonzi" is available on this website in both Kindle and PDF formats.


USAPonzi
is the biggest ($105.9 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and it is "The Biggest Ponzi Scheme on the Planet"!


Sincerely and Respectfully


John W. White

Plano, TX