Open Letter to Warren Buffett
March 16, 2017 Emailed to WSJ/NYT/DMN on 3/17/17
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 Open Letter to Warren Buffett explains the fact that Warren Buffett has known about USAPonzi since 1975 but has chosen to not expose this fraud because it is making him rich.
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 Warren Buffett
March 16, 2017
Dear Mr. Buffett
I know that you know that you have become extremely wealthy because the U.S. Government is corrupt.
You have chosen to not expose this U.S. Government corruption because it is making you very, very rich.
You need to step forward and tell the truth so that the U.S. Government will stop enriching the U.S. upper class and stop oppressing the U.S. Common Man. Ten Presidents won't do it. Congress won't do it. The SEC won't do it. The FED won't do it. The Wall Street Journal won't do it. The New York Times won't do it. The Dallas Morning News won't do it. And I have even appealed five times to the U.S. Supreme Court and they won't do it.
But the general public will listen to you if you will just admit to the fact that you and the U.S. Government have been conspiring for the last half century to make you very, very rich. I know that it is the U.S. Government that is committing this fraud but you are complicit because you refuse to expose this fraud and corruption.
I know that you know that the U.S. Government is making promises to pay U.S. Government benefits in the future but is not funding these promises so that it can enrich the U.S. upper class by deferring the liabilities for these benefits to the future Americans. I know that you know that these deferred liabilities are massive; $105.5 Trillion (US Unfunded Liabilities (GAAP)) as of March 16, 2017 according to www.usdebtclock.org. I know that you know that the current upper-class Americans are appearing to get rich because the U.S. Government is fraudulently deferring public liabilities to the future Americans.
I know that you know that the U.S. Government is enriching the U.S. upper class by borrowing monopoly money from the future Americans and giving it to the current Americans with GAAP basis deficit spending and that almost all of this monopoly money ends up in the pockets of the U.S. upper class or in the coffers of upper-class U.S. businesses.
I know that you know this, because I have read your 1975 memo on the perils of making pension promises and then not having the management conviction to fund these future promises.
You should have informed the planet that the U.S. Government was operating with a corrupt and fraudulent fiscal policy that would allow you and your investors to become filthy rich. This fiscal policy is enriching you and the rest of the U.S. upper class but it is devastating the U.S. Common Man and it is cheating the rest of the planet. This fraud is causing a dramatic and expanding wealth and income gap between the haves and the havenots.
This fraud is creating massive societal discord between haves and the havenots. This fraud is creating massive societal discord between America and the rest of the planet. I contend that this fraud is the fundamental cause of terrorism. The "Radical Muslims" resent the opulent and ostentatious lifestyle that this fraud has produced for the "Ugly Americans".
Author's Note: Warren Buffett's net worth is estimated to be $76.1 Billion but most of this wealth (80-85%) has been gained because the U.S. Government has borrowed/stolen $105.5 Trillion from the future Americans and given it to the current Americans by undertaxing them. I get this 80-85% estimate by the ratio of i-imaginary-counterfeit money to Total National Assets $105.5T/$129.8T = 0.81 = 81%. This ratio moves around a lot due to the volatility of the stock market and the real estate market but in any case the GAAP basis deficit spending by the U.S. Government has produced $105.5 Trillion worth of i-imaginary-counterfeit money.
Mr. Buffett, I feel that you have an ethical responsibility to remedy this situation by openly exposing this U.S. Government fiscal and accounting fraud. This is a massive fraud when the U.S. Government claims a Cash Deficit of $0.59 Trillion when proper GAAP Accounting reports a GAAP Deficit of $5.61 Trillion in FY2017.
In your 2013 annual letter to shareholders, you included the following commentary that explained why making pension commitments and then not having the management conviction to fund these pension promises could prove devastating to the promising entity. This is precisely what the U.S. Government has been doing for the last 48 years.
"Local and state financial problems are accelerating, in large part because public entities promised pensions they couldn’t afford. Citizens and public officials typically under-appreciated the gigantic financial tapeworm that was born when promises were made that conflicted with a willingness to fund them. Unfortunately, pension mathematics today remain a mystery to most Americans.
Investment policies, as well, play an important role in these problems. In 1975, I wrote a memo to Katharine Graham, then chairman of The Washington Post Company, about the pitfalls of pension promises and the importance of investment policy. That memo is reproduced on pages 118 - 136.
During the next decade, you will read a lot of news – bad news – about public pension plans. I hope my memo is helpful to you in understanding the necessity for prompt remedial action where problems exist."
Your 19 page memo, included in the Berkshire Hathaway 2013 Annual Report, makes it clear to me that you knew in 1975 that the U.S. Government was operating with a fiscal policy that would make you and your investors wealthy beyond belief by promising future benefits but not taxing the U.S. citizenry to fund these promises.
Author's Note: This memo to Katharine Graham can be accessed by clicking here and selecting PDF page 120.
Mr. Buffett, I feel that you should have informed the U.S. Government that it was cheating the U.S. Common Man by promising social benefits, and even collecting tax money from them to pay for these benefits, but not having the management conviction to adequately fund these future promises. Instead you chose to stay silent and accrue massive but fraudulently gained wealth for yourself and your investors.
By not funding these future promises and not taxing U.S. upper class to fund these promises, we have arrived at the following financial situation as reported by www.usdebtclock.org:
The U.S. upper class has gained imaginary-counterfeit wealth of $105.5 Trillion.
The U.S. Government has overpaid itself by $19.9 Trillion.
And the U.S. Common Man has been left "holding the bag" thinking they are going to be paid U.S. Government benefits that are underfunded by $85.6 Trillion.
The U.S. Government is enriching the U.S. upper class and cheating the U.S. Common Man and you let it happen by not exposing this U.S. Government fraud that is making you look like the smartest investor on the planet. You and your investors have not gotten rich because of your performance or that of your companies. You and your investors have gotten rich simply because the U.S. Government is corrupt.
Yes, you are an astute business man but you and your investors are getting rich because you and your team were able to identify and exploit this U.S. Government fiscal and accounting fraud.
This fraud is providing a super opulent lifestyle for the U.S. upper class while oppressing the U.S. Common Man.
I hope you sleep well at night knowing that you have gotten rich, that the U.S. Common Man is heading toward financial devastation, and that the planet is heading toward a massive economic depression because you failed to inform the U.S. Government the same way you informed Katharine Graham.
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|| $85.5 Trillion
|US Unfunded Liabilities (GAAP)
| Total National Assets
Source: www.usdebtclock.org March 16, 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 fraud is also explained in much more detail on my website www.usaponzi.com and in my book “USAPonzi” which is available on Amazon in Kindle and Paperback formats and on my www.usaponzi.net in Kindle and PDF formats.
This is the biggest ($105.5 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