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 U.S. Citizens: Exposing U.S. Fiscal Fraud!
May 19, 2016  Emailed to WSJ NYT DMN May 19, 2016


I submit the following "Open Letter to U.S. Citizens" to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News". I feel that it is imperative that the U.S. citizenry be informed of the fraud and corruption within the U.S. Government that is dramatically distorting the global economy and causing dramatic disparity in the wealth and income of the global citizenry.


More information on USAPonzi can be found on my website www.usaponzi.com and in my book "USAPonzi" which is available on my website or on Amazon.


John W. White
Plano, TX
jwwhite38@outlook.com
214-762-1678


Open Letter to U.S. Citizens: Exposing U.S. Fiscal Fraud!

May 19, 2016


The U.S. Government is operating the U.S. Government finances with a Ponzi scheme fiscal policy (USAPonzi) that is allowing current U.S. citizens to live dramatically beyond their means.


This Ponzi scheme has been produced because the U.S. Government is not using the proper accounting system; GAAP Accounting. As a result, the U.S. Government is dramatically undertaxing the current U.S. taxpayers (GAAP Deficit of $5.77 Trillion in FY2016) and deferring massive and ever increasing liabilities to the future U.S. taxpayers which now total $102.2 Trillion (US Unfunded Liabilities (GAAP)). This is the signature characteristic of a Ponzi scheme; pay the "early participants" with money from the "late participants".


USAPonzi
is enhancing the lifestyle of U.S. citizens in the near term but is setting us up for a massive economic depression when this Ponzi scheme implodes. A Ponzi scheme typically implodes when it becomes clearly evident to the "late participants" that the scheme cannot be sustained.


Because of the fiscal fraud and corruption of USAPonzi we have the following issues:


1) The U.S. Government is promising to pay pensions, veterans' benefits, and social benefits but is not adequately funding these promises. These future benefit promises are underfunded by $82.9 Trillion (Unfunded Future Liabilities).


2) The U.S. Government is using the funds that are being paid in by U.S. citizens to fund social security, healthcare, and other social benefits to overpay the U.S. Government employees. The U.S. Government has borrowed and spent $5.38 Trillion (Social Benefit Borrowings) that was intended to fund future benefit promises.


3) The U.S. Government is dramatically overpaying itself increasing the National Debt to $19.3 Trillion.


4) The U.S. Government is dramatically undertaxing the U.S. upper class by $102.2 Trillion making them appear to be super wealthy. The U.S. Government has just flat given the U.S. upper class $102.2 Trillion by deferring these liabilities to the future U.S. taxpayers. USAPonzi, if it is allowed to continue, will give the U.S. upper class an infinite amount of money.


5) The U.S. Government will not be able to pay you the benefits they have promised you because of this fraud. They simply have not funded these benefit promises so that they can overpay themselves and so that they can make the U.S. upper class super wealthy.


6) The United States and in fact the global economy is headed toward a massive economic depression when this fiscal fraud is finally acknowledged by the U.S. Government, i.e. when USAPonzi implodes.


A Ponzi scheme implodes when the operator, in this case the U.S. Government, admits that it is operating a Ponzi scheme or when it becomes clearly evident to the future participants that the scheme is not sustainable. Apparently the fact that USAPonzi has given the U.S. upper class $102.2 Trillion by deferring $102.2 Trillion of liabilities to the future U.S taxpayers is not yet sufficient evidence to cause this Ponzi scheme to implode.


This undertaxing of the U.S. upper class by $102.2 Trillion has increased the private net worth of all U.S. citizens and businesses to an estimated $123.8 Trillion (Total National Assets). This is called getting rich by having your friends in Washington give you a massive tax break.


Public debt becomes private wealth and the U.S. Government gets to decide who gets the tax breaks.


USAPonzi is the cause of the wealth and income gap!

 

National Debt 
$19.3 Trillion 
Cash Deficit in FY2016 
$0.51 Trillion 
GAAP Deficit in FY2016 
$5.77 Trillion 
Unfunded Future Liabilities 
$82.9 Trillion 
US Unfunded Liabilities (GAAP) 
 $102.2 Trillion 
Total National Assets  $123.8 Trillion 

             Source: www.usdebtclock.org May 19, 2016

 

    Social Benefit Borrowings  $5.38 Trillion 

             Source: www.treasurydirect.gov May 19, 2016


This is the biggest ($102.2 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet"!


The financial data used in this letter were sourced from www.usdebtclock.org and www.treasurydirect.gov as of May 19, 2016.


John W. White
Plano, TX