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

Getting Rich on Fraudulently Borrowed Money!
July 10, 2017    Emailed to WSJ/NYT/DMN on 7/10/17


The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that explains how the U.S. upper class is "Getting Rich on Fraudulently Borrowed Money"!


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".


Getting Rich on Fraudulently Borrowed Money!

July 10, 2017


The U.S. upper class is "Getting Rich on Fraudulently Borrowed Money"! The U.S. Government is fraudulently borrowing money, $106.7 Trillion so far, from the future Americans and giving it to the U.S. upper class! The U.S. Government is using fraudulent accounting in an attempt to conceal this fraud! This is fraud because the future Americans do not have $106.7 Trillion!


The U.S. upper class is "Getting Rich on Fraudulently Borrowed Money"! The U.S. Government is making them richer every day by borrowing more money every day from the future Americans with ongoing GAAP basis deficit spending (GAAP Deficit in FY2017 = $5.55T/365 = $15.2B) and giving it to the U.S. upper class by undertaxing them.


The U.S. Government is corrupt! The U.S. Government is committing fiscal and accounting fraud by operating with Cash Accounting rather than the proper GAAP Accounting! The U.S. Government is overspending on a Cash basis creating National Debt of $20.0 Trillion. The U.S. Government is underfunding its benefit promises to the U.S. Common Man creating US Unfunded Future Liabilities of $86.7 Trillion. The U.S. Government has undertaxed the U.S. upper class creating US Unfunded Liabilities (GAAP) of $106.7 Trillion.


The U.S. Government is running a massive Ponzi scheme, I call it USAPonzi, by paying the current Americans with the future Americans money. The U.S. upper class is simply collecting money, $15.2 Billion, every day from the U.S. Government because of this accounting fraud. The senior officials in the U.S. Government are common criminals because they are direct financial beneficiaries of this fiscal and accounting fraud!


I call this fraudulently borrowed money "imaginary-counterfeit money" because the U.S. Government just imagines that the future Americans can pay it but it is counterfeit because the future Americans can never pay it.


The U.S. Government has created The Wealth Gap by fraudulently borrowing $106.7 Trillion from the future Americans and giving it to the U.S. upper class!


The U.S. upper class is "Getting Rich on Fraudulently Borrowed Money"!


 

National Debt    $20.0 Trillion 
Cash Deficit in FY2017  $0.67 Trillion 
GAAP Deficit in FY2017 
$5.55 Trillion 
US Unfunded Future Liabilities  $86.7 Trillion 
US Unfunded Liabilities (GAAP)  $106.7 Trillion 
Imaginary-Counterfeit Money 
$106.7 Trillion 
Total National Assets 

$132.2 Trillion 

Source: www.usdebtclock.org Jul 10, 2017


This U.S. Government fraud 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 published a website www.usaponzi.net that explains how this fraud 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. The www.usaponzi.net website is an introduction to my more detailed website www.usaponzi.com and my books "USAPonzi" (Nov 22, 2015) and "USAPonzi2" (May 1, 2017) which are available on Amazon to better explain this fraud/Ponzi scheme.


This is the biggest ($106.7 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and it is "The Biggest Ponzi Scheme on the Planet"!


John W. White

Plano, TX