Motive for USAPonzi-Great American Fraud 210827
August 27, 2021
Emailed to United Nations, Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/CNBC/DMN on 8/27/21
Commentary still being edited!
I am a whistleblower! The U.S. Government is corrupt!
The corrupt U.S. Government has been “cooking the books” since 1969 by operating its fiscal policy with Cash Accounting rather than proper GAAP Accounting!
The corrupt U.S. Government, by “cooking the books”, has enriched the U.S. upper class by $154.9 Trillion and cheated the U.S. general public out of $126.2 Trillion!
In this commentary, I will explain the motives for this accounting fraud and summarize some of the disasterous side effects of this accounting fraud!
The corrupt U.S. Government is committing a fiscal and accounting fraud by not operating its fiscal policy with proper and Generally Accepted Accounting Principles (GAAP Accounting)! The corrupt U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is 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!
This accounting fraud/Ponzi scheme started in FY1969 when a scoundrel, Lyndon Baines Johnson, proposed and the corrupt U.S. Congress approved the fraudulent Unified Budget that consolidated all of the financial reporting, planning, and assessing for the U.S. Government into a single financial statement! This Unified Budget, by not using accrual accounting, stopped accruing for future benefits to the U.S. general public in 1969 which has enriched the U.S. upper class and cheated the U.S. general public!
I contend that there were two major motivations for this accounting fraud:
1) to dramatically elevate the status of America relative to the rest of the planet economically, socially, politically, and militarily!
2) to dramatically elevate the status of the U.S. upper class relative to the U.S. general public economically, socially, and politically!
The corrupt U.S. Government achieved both of these criminal objectives by promising to pay future benefits to the U.S. general public but not using proper GAAP Accounting, also called accrual accounting, to tax the U.S. upper class to pay for these future benefits!
This accounting fraud achieved the first objective of creating the strongest economy on the planet by fraudulently borrowing an infinite amount of 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, so the current Americans can buy an infinite amount of stuff and not have to pay for anything!
This accounting fraud has, so far, given the current Americans $154.9 Trillion of imaginary-counterfeit money so they can buy stuff and not have to worry about how they will pay for it! The corrupt U.S. Government keeps pretending like the future Americans will pay for it someday!
It has been 52 years since the U.S. upper class earned real money to pay for their purchases! We now have basically two generations of Americans many of which have never known what it is like to do real work!
This accounting fraud achieved the second objective of enriching the U.S. upper class by not accruing for future benefits which dramatically undertaxes the U.S. upper class!
This accounting fraud has so far given the U.S. upper class $154.9 Trillion of imaginary-counterfeit money by deferring $154.9 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans and has cheated the U.S. general public out of $126.2 Trillion of promised future benefits by not accruing for these future benefits!
The following chart gives a graphical projection of how the corrupt U.S. Government, with the current Ponzi scheme fiscal policy, could fraudulently borrow over a Quadrillion dollars (a thousand Trillion dollars) of imaginary-counterfeit money from the future Americans over the next three decades and give it to the U.S. upper class so Planet Earth can buy a whole-hell-of-a-lot of stuff with imaginary-counterfeit money and never have to pay for any of it!
The corrupt U.S. Government is being run by common criminals that have committed a $154.9 Trillion crime!
The corrupt U.S. Government may have fooled itself! We do not yet know if the people in the U.S. Government are accidental fools or intentional criminals! I suggest that we have some of each but they are all criminals whether they know it or not!
|US National Debt
|Cash Deficit in FY2021
|GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org August 25, 2021
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain USAPonzi and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can be downloaded from my websites in pdf format.
John W. White