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

Eliteocracy has overthrown Democracy in America 180422
April 22, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, and Senator Ted Cruz on 4/22/18


The following is an Op-Ed to “The Wall Street Journal”, “The New York Times”, “The Washington Post”, and “The Dallas Morning News” that explains how “Democracy in America” has been overthrown and replaced by “Eliteocracy in America” because of U.S. Government fiscal and accounting fraud!


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”!


The “news media” is aiding and abetting the corrupt and criminal U.S. Government by refusing to report this fiscal and accounting fraud!


Eliteocracy has overthrown Democracy in America 180422
April 22, 2018


Democracy: a system of government by the whole population or all the eligible members of a state, typically through elected representatives.


Eliteocracy: a system of government by the elite members of a state.


The U.S. Government and the “elite” in America have systematically and stealthily overthrown Democracy in America and replaced it with a form of governing that I have named Eliteocracy by committing fiscal and accounting fraud!


The corrupt and criminal U.S. Government and the U.S. upper class have conspired to acquire most of the apparent wealth in America by committing fiscal and accounting fraud! Now that the elite have acquired a huge portion of the apparent wealth in America (and the planet), the elite have gained tremendous leverage in determining who is elected and once elected what policies the U.S. Government chooses to implement!


The elite in America have acquired most of the apparent wealth in America because the U.S. Government is not operating its fiscal policy according to accrual accounting.


For the last 49 years, the U.S. Government has been fraudulently borrowing imaginary-counterfeit money ($112.9 Trillion so far) from the future Americans and giving it to the U.S. upper class! The corrupt and criminal U.S. Government has been committing fiscal and accounting fraud by operating with Cash Accounting rather than the proper GAAP Accounting (Generally Accepted Accounting Principles), also called accrual accounting, to effect this fraudulent transfer of imaginary-counterfeit money from the future Americans to the U.S. upper class!


The corrupt and criminal U.S. Government is promising benefits to the U.S. general public but is dramatically underfunding these future benefit promises to the U.S. general public so that it can undertax and enrich the U.S. upper class! The U.S. Government is not properly accruing for the future benefit promises to the U.S. general public because it is not operating its fiscal policy with GAAP Accounting (accrual accounting).


The U.S. Government is fraudulently enriching the U.S. upper class, is fraudulently cheating the U.S. general public, is fraudulently overpaying the U.S. ruling class, and is fraudulently cheating the rest of the planet by committing fiscal and accounting fraud (See Open Letter to Planet Earth for more details on this fraud)!


The corrupt and criminal U.S. Government has conspired with the U.S. upper class to enrich themselves by cheating the U.S. general public and the rest of the planet! The U.S. Government has implemented this fraud by borrowing $112.9 Trillion from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class! I call this fraudulently borrowed money; imaginary-counterfeit money! The corrupt and criminal U.S. Government is pretending/imagining that the future Americans can pay this money someday so it is imaginary but it is counterfeit because the future Americans can never pay it!


The corrupt and criminal U.S. Government is fraudulently enriching the U.S. upper class, by $112.9 Trillion, and is oppressing the U.S. general public by underfunding the future benefit promises to the U.S. general public by $91.8 Trillion.


Because of this fraud, the U.S. upper class has $112.9 Trillion of imaginary-counterfeit money that it can use to influence/bribe the U.S. ruling class while at the same time the U.S. ruling class is cheating the U.S. general public out of $91.8 Trillion!


Because of this fraud, the corrupt and criminal U.S. Government is enriching the rich (US Unfunded Liabilities (GAAP) of $112.9T), is cheating the common man (US Unfunded Future Liabilities of $91.8T), and is overpaying themselves (National Debt of $21.1T).


Because of this fraud, the corrupt and criminal U.S. Government is stealing from the poor and giving to the rich while enriching themselves!


Because of this fraud, the elite in America now have assumed control of the governing influence in the United States of America while accumulating most of the apparent wealth in America! The corrupt and criminal U.S. Government has enriched the elite in America by fraudulently deferring $112.9 Trillion of public liabilities to the future Americans!


This fraud has allowed the elite in America to follow the current day adaptation of “the golden rule”; whoever has the gold, makes the rules!


Because of this fraud, the U.S. Government has committed a massive social injustice by enriching the U.S. upper class by $112.9 Trillion and cheating the U.S. general public out of $91.8 Trillion so the rich can live like kings and the poor cannot afford to live in the Ponzi economy where the rich have unimaginable wealth and the poor often cannot find a decent paying job!


Because of this fraud, Eliteocracy has overthrown Democracy in America!


The U.S. general public is going to be really, really pissed when they are properly informed of this U.S. Government fiscal and accounting fraud that I call USAPonzi! The corrupt and criminal U.S. Government is running a massive but classic ($112.9 Trillion) Ponzi scheme!


This fraud, when it is exposed, will create a massive discontinuity in the global financial system and the global economy!


To eliminate this massive fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.


By operating the U.S. Government fiscal policy with Generally Accepted Accounting Principles and a properly balanced GAAP basis budget, the following things would happen:


The U.S. upper class would not be filthy rich because this imaginary-counterfeit money, currently $112.9 Trillion, would evaporate!


The U.S. Government would be able to keep its benefits promises to the U.S general public!


The U.S. ruling class would be paid what the U.S. economy could afford!


Americans would be buying stuff with real money rather than $112.9 Trillion of imaginary-counterfeit money!


We would stop filling the planet with useless assets that we are buying and building with imaginary-counterfeit money! We are buying and building stuff that the real economy cannot sustain like cars, airplanes, ships, big houses, skyscrapers, luxury condos, luxury apartments, cities, ports, airports, bombs, guns, etc. etc!


The wealth and income gap would be largely eliminated!


Apparent global wealth would be dramatically reduced!


Global economic activity would be dramatically reduced!


American economic exceptionalism would be eliminated!


The standard of living in America would be dramatically reduced!


Most banks would fail!


Most businesses would fail!


Social justice would be restored in America!


Democracy in America would be preserved!


America would again become a trusted but minor trading partner in the global economy!

 

National Debt  $21.1 Trillion 
Cash Deficit in FY2018  $0.74 Trillion 
GAAP Deficit in FY2018  $6.00 Trillion 
US Unfunded Future Liabilities  $91.8 Trillion 
US Unfunded Liabilities (GAAP)  $112.9 Trillion 
Imaginary-Counterfeit Money  $112.9 Trillion 
Total National Assets  $138.4 Trillion 

Source: www.usdebtclock.org April 22, 2018


This fraud/Ponzi scheme (USAPonzi) is explained on my websites www.usaponzi.com and www.usaponzi.net and in my books “USAPonzi”, “USAPonzi2”, and “USAPonzi3”!


This is the biggest ($112.9 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.


John W. White
Plano, TX