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

Open Letter to Planet Earth
Committing a $105.6 Trillion Crime!

March 29, 2017   Emailed to WSJ/NYT/DMN on March 29, 2017


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. Government is using a fraudulent fiscal policy and accounting system to dramatically enhance the lifestyle of Americans, to dramatically enrich the U.S. ruling class, to colossally enrich the U.S. upper class, to colossally cheat the Common Man, and to colossally cheat the rest of the planet. This Op-Ed explains how the current fiscal policy is causing the U.S. Government to commit a $105.6 Trillion crime to enrich itself and its upper-class friends.


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 so they can "feather their own nests" and "dramatically feather the nests of their upper-class friends".


Open Letter to Planet Earth
Committing a $105.6 Trillion Crime!
 
March 29, 2017


The U.S. Government is corrupt! The senior members of the U.S. Government are criminals. The U.S. Government is using a fraudulent accounting system in an attempt to conceal this fraud and corruption. The U.S. Government is using Cash Accounting rather than the proper GAAP Accounting (Generally Accepted Accounting Principles). I call this fraud USAPonzi because it is a classic Ponzi scheme that is being perpetrated by the U.S. Government. By operating with this fraudulent accounting, the U.S. Government is committing a $105.6 Trillion Crime!


The key distinguishing attribute of GAAP (Accrual) Accounting is that if the entity is making future payment commitments to the other parties the entity must set aside (accrue) the funds in a trust fund to pay these future commitments as the receiving party earns these future benefits.


The key distinguishing attribute of a Ponzi scheme is that the operator pays returns to the early participants in the scheme with money that is being paid in to the operator by the late participants in the scheme.


By definition, if you are making future commitments and don't use GAAP Accounting (Generally Accepted Accounting Principles) you have produced a Ponzi scheme.


The U.S. upper class has been getting very rich for the last 48 years because the U.S. Government is committing fiscal and accounting fraud by operating with Cash Accounting and not setting aside the funds to pay the future benefit promises that the U.S. Government has made to the U.S. citizenry.


The U.S. Government has, for 48 years, been stuffing money into the pockets of the current Americans by deferring these public liabilities to the future Americans. And the U.S. upper class gets most of this money because they would be the only taxpayers that would have the funds to pay for these future commitments. But the money that is being stuffed into the pockets of the U.S. upper class is counterfeit money because the future Americans do not have $105.6 Trillion just laying around loose to pay these deferred public liabilities.


The U.S. Government is willingly and knowingly paying unaffordable government benefits to the U.S. citizenry and is not taxing the rich and powerful enough to pay for these benefits or to pay for its current year operating expenses. The U.S. Government has undertaxed the rich and powerful by $105.6 Trillion giving them massive wealth. The U.S. Government has lied to and cheated the U.S. Common Man by promising them future benefits and not funding these promises so that it can enrich itself and its upper-class friends. This is a $105.6 Trillion crime!


This fraud is the reason that the U.S. upper class has big wealth, big houses, big cars, and can have memberships in fine country clubs.


This fraud is the reason that the U.S. Common man frequently can't make a living wage and in many cases cannot even find a reasonable job. And maybe even more serious is the fact that the U.S. Government has promised to pay them government benefits of various types that it has no intention or ability to pay.


This fraud is giving the U.S. upper class exponentially increasing wealth and income while the U.S. Common Man struggles with a relatively fixed wage in an economy that is rapidly inflating because the U.S. Government is pumping counterfeit money into the pockets of the U.S. upper class. The U.S. Government is simply borrowing counterfeit money from the future Americans and giving it to the U.S. upper class.


The rich get richer and the poor get poorer!


This fraud is systematically creating a wealth and income gap between the haves and the havenots when it gives $105.6 Trillion to the haves by undertaxing them. And every day this gap expands because the U.S. Government is slipping more money under the table to the upper class each day ($15.34 Billion) by undertaxing them with ongoing and ever expanding GAAP basis deficit spending.


This fraud is a really good deal for the ruling class and the upper class. This fraud is HELL for the Common Man.


The U.S. Government is using fraudulent accounting to enrich the rich and powerful, to oppress the Common Man, and to cheat the rest of the planet. The U.S. Government is willingly and knowingly paying unaffordable benefits to the U.S. citizenry and is not taxing the rich and powerful to pay for these benefits. The senior officials of the U.S. Government are criminals because they are the perpetrators of this crime. The U.S. upper class is complicit in this crime because they refuse to expose this crime. The Securities and Exchange Commission is complicit in this crime because they refuse to expose this crime. The "news media" is complicit in this crime because they refuse to expose this crime. The Federal Reserve Bank is complicit in this crime because they refuse to expose this crime.


Because of this fiscal and accounting fraud, the U.S. Government is undertaxing the U.S. upper class which has given the U.S. upper class $105.6 Trillion (US Unfunded Liabilities (GAAP)), has overpaid itself by $19.9 Trillion (National Debt), and has underfunded the U.S. Government benefit promises to the U.S. Common Man by $85.7 Trillion (US Unfunded Future Liabilities).


The U.S. Government is enriching itself and its upper-class friends while cheating the U.S. Common Man and the rest of the planet.


The U.S. Government is cheating the U.S. Common Man by making benefit promises that it has no intention of keeping because it has underfunded these benefit promises by $85.7 Trillion.


The U.S. Government is cheating the rest of the planet by borrowing $105.6 Trillion from the future Americans so that current Americans can buy goods and services that they cannot afford.


This fraud is a criminal act because the perpetrators of this fraud are significant beneficiaries of the fraud.

 

National Debt 
$19.9 Trillion 
Cash Deficit in FY2017 
$0.59 Trillion 
GAAP Deficit in FY2017 
$5.60 Trillion 
US Unfunded Future Liabilities 
$85.7 Trillion 
US Unfunded Liabilities (GAAP) 
$105.6 Trillion 
Imaginary-Counterfeit Money  $105.6 Trillion 
   Total National Assets  $130.2 Trillion 

   Source: www.usdebtclock.org March 29, 2017


This U.S. Government fiscal and accounting 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.


This is the biggest ($105.6 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