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

Enrich the Rich and Cheat the Poor 180618
June 18, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, and Senator Ted Cruz on 6/18/18


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 the U.S. Government is committing fiscal and accounting fraud so that it can Enrich the Rich and Cheat the Poor! The U.S. Government is not using proper accrual accounting so that it can Enrich the Rich and Cheat the Poor!


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 “colossally feather the nests of their upper-class friends”! The U.S. Government is not using proper accrual accounting!


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


Enrich the Rich and Cheat the Poor 180618

June 18, 2018


The U.S. Government is corrupt!


The corrupt and criminal U.S. Government is not using the proper accounting system to manage its fiscal policy!


The corrupt and criminal U.S. Government is not using Generally Accepted Accounting Principles (GAAP Accounting)!


I realize that I have been repeating myself over and over again for the last five years as I have been trying to expose U.S. Government accounting fraud! Since March 29, 2013 I have published 616 commentaries to explain and expose this accounting fraud but I have just one fundamental message:


The corrupt and criminal U.S. Government is committing fiscal and accounting fraud so that it can Enrich the Rich and Cheat the Poor!


This fraud has caused a lot of other serious problems and financial distortions but the root cause of this fraud is that the U.S. Government is not using accrual accounting (called GAAP Accounting in the United States)! The U.S. Government is not properly accruing the money to pay the future benefits that it has promised to the U.S. general public!


As a result of this fraud, the U.S. upper class is getting rich because they don't have pay for the future promises to the U.S. general public and the U.S. general public and especially the poor are getting cheated because the money has not been accrued to pay these future benefit promises to the U.S. general public!


When the U.S. upper class does not have to pay the taxes to fund the future benefits, this cost gets deferred to the future Americans. This has the macro effect of borrowing money from the future Americans and giving it to the U.S. upper class by undertaxing them.


So far, this fraud has borrowed $113.6 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans and given it to the U.S. upper class! I call this fraudulently borrowed money imaginary-counterfeit money. It is imaginary because the corrupt and fraudulent U.S. Government is imagining that the future Americans can pay it someday but it is counterfeit because the future Americans can never pay it!


The U.S. upper class is getting rich with imaginary-counterfeit money and the U.S. general public is getting cheated because the U.S. Government is making false and underfunded benefit promises!


The rich get rich today and the poor get cheated tomorrow!


This is a classic Ponzi scheme, I call it USAPonzi, because the early participants in the scheme get paid outlandish returns from the money that the operator is expecting/pretending to receive from the late participants in the scheme!


This is a $113.6 Trillion criminal act by the U.S. Government!


The U.S. Government has created $113.6 Trillion of imaginary-counterfeit wealth for the U.S. upper class by “Cooking the Books”!


The corrupt and criminal U.S. Government has deferred $113.6 Trillion of pubic liabilities (US Unfunded Liabilities (GAAP)) to the future Americans so that it can undertax and enrich the U.S. upper class by $113.6 Trillion!


The corrupt and criminal U.S. Government is digitally printing imaginary-counterfeit money with GAAP basis deficit spending and giving it to the U.S. upper class by undertaxing them!


The corrupt and criminal U.S. Government has created $113.6 Trillion of “Wealth out of Thin Air” for the U.S. upper class by committing accounting fraud!


This fiscal and accounting fraud, if it is allowed to continue, will give the U.S. upper class an infinite amount of imaginary-counterfeit wealth since the future Americans have an infinite amount of imaginary-counterfeit money!


The corrupt and criminal U.S. Government is borrowing money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class!


The private net worth of all Americans is estimated to be $137.2 Trillion (Total National Assets) but $113.6 Trillion of that has been fraudulently borrowed from the future Americans! Therefore, 82.8% of U.S. private net worth is imaginary-counterfeit money that has been fraudulently borrowed from the future Americans ($113.6T/137.2T = 0.828)!


The U.S. Government is corrupt!


The senior officials of the U.S. Government are common criminals that have committed a $113.6 Trillion criminal act by not using proper accrual accounting! The senior officials of the U.S. Government are common criminals because they are direct financial beneficiaries of this massive fraud!


We have 535 criminals in the U.S. Congress and an untold number of criminals in the White House!


This fraud is explained in more detail in my Open Letter to Planet Earth!


To eliminate this massive fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget. GAAP Accounting (Generally Accepted Accounting Principles) is the commonly used name in America for the accounting guidelines for accrual accounting.

 

National Debt   $21.2 Trillion  
Cash Deficit in FY2018   $0.77 Trillion  
GAAP Deficit in FY2018   $6.02 Trillion  
US Unfunded Future Liabilities   $92.4 Trillion  
US Unfunded Liabilities (GAAP)   $113.6 Trillion  
Imaginary-Counterfeit Money   $113.6 Trillion  
Total National Assets   $137.2 Trillion  

Source: www.usdebtclock.org Jun 18, 2018


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


This is the biggest ($113.6 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