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 Van Taylor-re-Global Warming 190909
September 9, 2019
Emailed to 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/DMN, and Dallas Mayor Eric Johnson on 9/10/19
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Mailed, by U.S. Mail, to Van Taylor on September 10, 2019


To Van Taylor

     Representative for Texas 3rd Congressional District
     1404 Longworth House Office Bldg
      Washington, D.C 20515

      5600 Tennyson Pkwy, #276
      Plano, TX 75024


Global Warming is caused by the U.S. Government not operating its fiscal policy with proper GAAP Accounting and, as a result, the U.S. Government is not accruing for future benefit promises to the U.S. general public! US Unfunded Future Liabilities = $103.2 Trillion!


You are a common criminal since you receive significant financial benefit when the U.S. Government does not accrue for future benefit promises to the U.S. general public!


This open letter is intended to explain how a U.S. Government fiscal and accounting fraud is enriching the U.S. upper class, enriching the U.S. ruling class, cheating the U.S. general public, and causing Global Warming that is Destroying Planet Earth!


The U.S. Government is fraudulently borrowing money from the future Americans, money the future Americans do not have, to enrich the U.S. upper class!


The upper-class Americans and the senior officials of the U.S. Government have figured out that one of the easiest ways to get rich is to borrow money from our kids and our grandkids!


The 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), which has:


 1) fraudulently given the U.S. upper class $125.7 Trillion!
 2) fraudulently overpaid the U.S. ruling class by $22.5 Trillion!
 3) fraudulently underfunded the future benefits to the U.S. general public by $103.2 Trillion!
 4) caused Global Warming that is Destroying Planet Earth!


You, as a member of the U.S. Congress, are part of an organization that is committing the biggest crime ever perpetrated! Each and every senior member of the U.S. Government is a common criminal because they are significant financial beneficiaries of this now $125.7 Trillion crime! The U.S. Government is in the process of fraudulently borrowing an infinite amount of money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class!


This is fraud because the future Americans do not have an infinite amount of money!


The elite in America are conspiring with the U.S. Government to hoodwink the U.S. general public into thinking that they will be paid unaffordable and unfunded future U.S. Government benefits that the U.S. Government is not funding so that it can enrich the U.S. ruling class and colossally enrich the U.S. upper class!


The U.S. Government has fraudulently borrowed $125.7 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans, money the future Americans do not have, to fraudulently enrich the U.S. upper class!


The U.S. Government has fraudulently borrowed $22.5 Trillion (National Debt) from the fraudulently enriched global upper class to fraudulently enrich the U.S. ruling class!


The U.S. Government has fraudulently borrowed the money twice that it is using to overpay the U.S. ruling class! The U.S. Government has borrowed counterfeit money ($125.7T) from the future Americans to create massive global counterfeit wealth so that the U.S. Government can borrow some ($22.5T) of this massive global counterfeit wealth to overpay the U.S. ruling class!


The U.S. Government is in the process of fraudulently borrowing an infinite amount of counterfeit money from the future Americans so the entire planet can build and buy an infinite number of environment-polluting physical objects which are causing Global Warming that is Destroying Planet Earth!


The U.S. Government is not using proper GAAP Accounting which is causing the U.S. Government to not properly accrue for future U.S. Government benefits (Social Security, Medicare, Pensions, Veteran's Benefits, etc.). This means that the U.S. Government is borrowing money from the future Americans to pay for these benefits which the future Americans cannot pay! This fraud is undertaxing the U.S. upper class and making them appear to be very wealthy! So far, this accounting fraud has given the U.S. upper class $125.7 Trillion of counterfeit money according to GAAP Accounting!


This fraud is in the process of borrowing an infinite amount of counterfeit money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class so the entire planet can build and buy an infinite number of environment-polluting physical objects (cars, trucks, airplanes, houses, apartments, condos, oil wells, factories, airports, cities, guns, bombs, opioids, etc. etc.)!


The U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is in the process of borrowing an infinite amount of money, I call it imaginary-counterfeit money, from the future Americans, money the future Americans do not have, so the entire planet can build and buy an infinite number of environment-polluting physical objects which are causing Global Warming that is Destroying Planet Earth!


I have written two websites (usaponzi.net and usaponzi.com) and five books (the latest is USAPonziB which is available on Amazon) that explain how this U.S. Government fiscal and accounting fraud got started, the problems it is causing, and how it is causing Global Warming!


To eliminate this fraud, the U.S. Government must switch to GAAP Accounting and commit to a balanced GAAP basis budget. The U.S. Government is currently operating its fiscal policy with Cash Accounting which is the cause of this fraudGAAP Accounting, properly applied, would not allow the U.S. Government to borrow an infinite amount of money from the future Americans!


This fraud is colossally enriching the U.S. upper class, is dramatically enriching the U.S. ruling class, and is colossally cheating the U.S. general public! On a macro basis, the U.S. upper class has been undertaxed by $125.7 Trillion, the U.S. ruling class has been overpaid by $22.5 Trillion, and the U.S. general public has been cheated by $103.2 Trillion because the U.S. Government has underfunded the future benefit promises!


This fraud is what is causing wealth and income inequality in America! The U.S. Government is in the process of giving the U.S. upper class an infinite amount of imaginary-counterfeit money by undertaxing them! The wealth and income gap in America is continuously widening because this fraud prints more imaginary-counterfeit money ($16.8 Billionevery day, with GAAP basis deficit spending, and gives it to the U.S. upper class!


This is a $125.7 Trillion crime that is being committed by the U.S. Government! $125.7 Trillion of imaginary-counterfeit money that has been fraudulently given to the U.S. upper class has produced a massive wealth and income gap in America! When the U.S. Government does not accrue for future benefit promises to the U.S. general public, the U.S. upper class gets undertaxed and rich and the U.S. general public gets screwed!


The U.S. Government likes the U.S. upper class a lot more than it likes the U.S. general public; $125.7 Trillion more! This is probably because the U.S. upper class pays bigger bribes and makes larger campaign contributions than the U.S. general public! The U.S. upper class certainly has plenty of imaginary-counterfeit money ($125.7 Trillion) to pay bribes and make campaign contributions!


This fraud is allowing Americans to buy basically whatever they want without paying for it, since the U.S. Government is in the process of borrowing an infinite amount of money from the future Americans, so far $125.7 Trillion, money that the future Americans do not have, so we can fill up Planet Earth with an infinite number of cars, trucks, airplanes, houses, apartments, condos, cities, airports, guns, bombs, opioids, etc., etc.!


This fraud was started in 1969 when LBJ proposed and the U.S. Congress approved the Unified Budget but did not switch from Cash Accounting to GAAP Accounting that would properly accrue the money to pay future U.S. Government benefits to the U.S. general public!


If you look at the NASA chart (shown below) that tracks the change in global average temperatures, global temperatures began to rise in 1969 the year that the U.S. Government adopted the Unified Budget and started this fiscal and accounting fraud! My websites (usaponzi.net and usaponzi.com) and my latest book (USAPonziB) give a more detailed explanation of how this accounting fraud is causing Global Warming that is Destroying Planet Earth!



My concern is that irreparable damage has already been done to Planet Earth by this fraud since it has been operating for now 50 years! We have already fraudulently built a lot of environment-polluting physical objects with some of this $125.7 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans!


This fiscal and accounting fraud is in the process of building an infinite number of environment-polluting physical objects by borrowing an infinite amount of imaginary-counterfeit money from the future Americans which is causing Global Warming that is Destroying Planet Earth!


The data used in this letter were sourced from www.usdebtclock.org and are summarized in the following table!

 

National Debt  $22.5 Trillion 
Cash Deficit in FY2019  $1.01 Trillion 
GAAP Deficit in FY2019  $6.13 Trillion 
US Unfunded Future Liabilities  $103.2 Trillion 
US Unfunded Liabilities (GAAP)  $125.7 Trillion 
Imaginary-Counterfeit Money  $125.7 Trillion 
Total National Assets  $157.5 Trillion 

Source: www.usdebtclock.org September 9, 2019


John W White
Plano, TX