Socialism, Capitalism, and Fraudism 190511
May 11, 2019
Emailed to WSJ/NYT/WP/DMN, the US SEC, Fed Chairman Jay Powell, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, and Dallas Mayor Mike Rawlings 5/12/19
The corrupt and criminal U.S. Government has introduced a new political and economic theory of social organization by integrating certain aspects of socialism and capitalism to form what I call fraudism.
a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state which pays social benefits to the general public but does not tax the capitalists to pay for these social benefits.
Fraudism appears to offer the most favorable aspects of both socialism and capitalism but it should be obvious that this economic and political system is not sustainable.
The corrupt and criminal U.S. Government has been operating its fiscal policy with fraudism since FY1969!
Fraudism provides free money and leisure time to the socialist leaning participants and provides outrageous wealth and leisure time to the capitalist leaning participants!
Fraudism provides a happy state of affairs for both socialists and capitalists until both parties realize that economic doomsday is the only way this fantasy world can end! The U.S. Government is short by $101.6 Trillion of having the money to pay the social benefits that it has promised to the U.S. general public! The U.S. general public has been lied to and cheated by the U.S. Government and will be financially devastated when the U.S. Government is forced to admit to this now 49-year-long $101.6 Trillion lie!
The current fraudism fiscal policy of the U.S. Government is a classic Ponzi scheme that I have named USAPonzi! This Ponzi scheme is produced because the U.S. Government is not using the proper accounting system, GAAP Accounting (Generally Accepted Accounting Principles) and, as a result, is printing what I call imaginary-counterfeit money at the rate of its GAAP basis deficit spending which is currently $16.7 Billion a day and giving it to the U.S. upper class!
USAPonzi has enriched the U.S. upper class by $123.9 Trillion, has overpaid the U.S. ruling class by $22.3 Trillion, has underfunded the social benefits to the U.S. general public by $101.6 Trillion, but has deferred $123.9 Trillion of public liabilities to the future Americans that can never be paid!
USAPonzi is also causing Global Warming that is Destroying Planet Earth because both the socialists and the capitalists are consuming resources that have not been properly earned by expending effort or producing a product that has a perceived value to the buyer!
Fraudism spins off an unending and ever-increasing amount of imaginary-counterfeit money that the planet is using to build, buy, rent, and operate an unending and ever-increasing amount of environment-polluting physical objects which is causing Global Warming!
That is the very nature of a Ponzi scheme, the early participants in the scheme gain access to assets that the operator fraudulently claims will be paid for by the late participants in the scheme!
|Cash Deficit in FY2019
|GAAP Deficit in FY2019
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org May 11, 2019
This accounting fraud/Ponzi scheme 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!
You can learn more about this fraud/Ponzi scheme by reading my websites www.usaponzi.net and www.usaponzi.com or better yet by reading my fifth book on USAPonzi “USAPonziB” which is available on Amazon and on my websites in Kindle and PDF formats.
This is the biggest ($123.9 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”!
John W. White