Net Worth in America Skewed by USAPonzi 201215
December 15, 2020
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 12/15/20
Net Worth in America is systematically being skewed to the upper class!
Selected United States Household Net Worth Percentiles for 2020 and 2017
Net Worth in America is being skewed to the upper class because the U.S. Government is corrupt!
Net Worth in America is being created by fraudulently borrowing money from the future Americans and giving it to the current Americans by undertaxing them!
Net Worth in America is being skewed to the U.S. upper class because they own assets that are increasing in value because of this accounting fraud!
The corrupt U.S. Government is operating with a dramatically unbalanced budget by operating its fiscal policy with Cash Accounting rather than proper GAAP Accounting! The corrupt U.S. Government is promising future benefits to the U.S. general public but is not taxing the U.S. upper class to pay for these future benefits!
This has produced a classic Ponzi scheme, I call it USAPonzi, that is borrowing 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!
GAAP basis deficit spending by the U.S. Government prints imaginary-counterfeit money by deferring public liabilities to the future Americans and undertaxing the U.S. upper class!
As of today (December 15, 2020), the corrupt U.S. Government has deferred $156.1 Trillion (US Unfunded Liabilities (GAAP)) to the future Americans which as produced an estimated net worth of $155.1 Trillion (US Total National Assets) for the current Americans with most of this increased net worth going to the U.S. upper class!
Currently, the corrupt U.S. Government is fraudulently borrowing $18.4 Billion more imaginary-counterfeit money every day from the future Americans with ongoing GAAP basis deficit spending (GAAP Deficit in FY2021 = $6.71 Trillion/365 days = $18.4 Billion/day)!
See USAPonzi-The Great American Fraud.
The corrupt U.S. Government is fraudulently creating wealth in America by borrowing money from the future Americans and giving almost all of it to the U.S. upper class! This is a progressive fraud because the amount being borrowed from the future Americans is increasing exponentially because the U.S. Government must pay compound interest on the amount previously borrowed!
For the last 52 years, the global economy has been operating on imaginary-counterfeit money that the corrupt U.S. Government has fraudulently borrowed from the future Americans!
The U.S. upper class is getting rich because they are being undertaxed!
The U.S. general public is getting cheated because their future benefit promises have not been funded!
The rest of the planet is getting cheated because Americans are buying stuff with imaginary-counterfeit money that has been fraudulently borrowed from the future Americans!
The corrupt U.S. Government is fraudulently enriching the U.S. upper class and cheating the U.S. general public!
Let me say that one more time, the corrupt U.S. Government is fraudulently enriching the U.S. upper class and cheating the U.S. general public!
Class bias is rampant in America and the U.S. Government is instigating it!
The corrupt U.S. Government is in the process of giving the U.S. upper class wealth that is converging to infinity! The above chart shows that 25% of the people in America have a net worth of more than $403,284! The rich and the ultra-rich have net worths that approach astronomical levels.
The corrupt U.S. Government is in the process of giving the U.S. lower class wealth that is converging to zero! The above chart shows that 25% of the people in America have a net worth of less than $12,403! The poor and the ultra-poor have net worths that approach zero and in many cases are negative!
The way this U.S. Government fraud that I call USAPonzi works, the wealth in America will be skewed more and more to the U.S. upper class as the imaginary-counterfeit net worth in America spirals toward infinity!
In the corrupt America, the richer you get the richer you get!
However, almost all of the American net worth has been fraudulently borrowed from the future Americans by this corrupt fiscal policy of GAAP basis deficit spending that I call USAPonzi!
This imaginary-counterfeit money, currently $156.1 Trillion, will evaporate into the “thin air” from whence it came when USAPonzi implodes!
The following commentaries attempt to explain this fiscal and accounting fraud to the U.S. general public and to the U.S. Congress!
Whistleblower Letter #3 to U.S. General Public
Whistleblower Letter #6 to Congress
The devastating impact of this accounting fraud on Planet Earth is summarized in my Oct 1, 2020 commentary.
Quintet of Global Crises (Economy, Climate, Health, Hunger, Depression)
|Cash Deficit in FY2021
|*GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org December 15, 2020
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain this accounting fraud and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can also be downloaded from my www.usaponzi.net website.
John W. White