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

Enriching the U.S. Ruling Class-current
October 23, 2019


In this commentary I will explain how the U.S. Government is committing a fiscal and accounting fraud that is enriching the U.S. ruling class!


The U.S. Government is corrupt! The U.S. Government is promising future benefits to the U.S. general public but is not taxing the U.S. upper class enough to pay for these future benefits! The U.S. Government is enriching the U.S. upper class and cheating the U.S. general public by not accruing for future benefits to the U.S. general public!


My commentary Enriching the U.S. Upper Class explains how the U.S. Government is committing a fiscal and accounting fraud by not using proper GAAP Accounting that is not accruing for future benefits to the U.S. general public! The U.S. upper class is getting rich because they have been undertaxed by $126.4 Trillion and the U.S. general public is being cheated because their future benefit promises have been underfunded by $103.5 Trillion!


The U.S. Government is enriching the U.S. ruling class by overpaying them! The U.S. ruling class has been overpaid by the U.S. Government borrowing $22.9 Trillion (National Debt)!


The U.S. Government has fraudulently borrowed $126.4 Trillion from the future Americans to enrich the U.S. upper class and has borrowed $22.9 Trillion from the fraudulently enriched global upper class to overpay the U.S. ruling class!


The U.S. Government has twice fraudulently borrowed trillions of dollars (first from the future Americans and second from the fraudulently enriched global upper class) in order to enrich the U.S. ruling class!


The U.S. Government is committing a fiscal and accounting fraud by operating its fiscal policy with Cash Accounting rather than proper and Generally Accepted Accounting Principles (GAAP Accounting)! By not using proper GAAP Accounting, the U.S. Government is not accruing the money to pay for the future benefits promises to the U.S. general public!


When the U.S. Government does not tax the U.S. upper class enough to pay for future benefit promises, the U.S. Government defers this cost to the future Americans (US Unfunded Liabilities (GAAP) currently $126.4 Trillion) and undertaxes the U.S. upper class by that same amount! The U.S. Government is fraudulently borrowing money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class!


This has produced a classic Ponzi scheme fiscal policy, I call it USAPonzi, that is in the process of fraudulently borrowing an infinite amount of money, I call it imaginary-counterfeit money, from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!


The money that the U.S. Government is fraudulently borrowing from the future Americans does not exist (imaginary) and has no value (counterfeit) hence the name imaginary-counterfeit money! The U.S. Government is pretending like the future Americans will someday pay these US Unfunded Liabilities (GAAP), currently $126.4 Trillion, but of course these Unfunded Liabilities will never be paid!


The U.S. Government is enriching the U.S. ruling class by printing $126.4 Trillion (US Unfunded Liabilities (GAAP)) of imaginary-counterfeit money to enrich the global upper class so that it can borrow money from the fraudulently enriched global upper class so that it can overpay the U.S. ruling class!


This Ponzi scheme that I call USAPonzi is fraudulently:


Printing infinite counterfeit money
Enriching the U.S. upper class
Enriching the U.S. ruling class
Cheating the U.S. general public
Cheating the rest of the planet
Causing Social Injustice
Causing Wealth and Income Inequality
Causing Global Warming
Destroying Planet Earth


It is absurd that the U.S. Government has fraudulently borrowed $126.4 Trillion from the future Americans so that it can enrich the U.S. ruling class!


GAAP Accounting, properly applied, would not allow the U.S. Government to borrow more money from the future Americans than the future Americans can be reasonably expected to pay!


I have written two websites (usaponzi.net and usaponzi.com) and five books (the latest is USAPonziB) which are available on Amazon that explain how this U.S. Government fiscal and accounting fraud got started, the problems it is causing, and what I predict will happen when USAPonzi implodes!

 

National Debt  $22.9 Trillion 
Cash Deficit in FY2020  $1.03 Trillion 
GAAP Deficit in FY2020  $6.13 Trillion 
US Unfunded Future Liabilities  $103.5 Trillion 
US Unfunded Liabilities (GAAP)  $126.4 Trillion 
Imaginary-Counterfeit Money  $126.4 Trillion 
Total National Assets  $147.1 Trillion 

Source: www.usdebtclock.org October 23, 2019


This imaginary-counterfeit money will evaporate into the “thin air” from whence it came when USAPonzi implodes!


This is the biggest ($126.4 Trillionfinancial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.


John W White
Plano, TX