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

Synchronized Global Growth by Fraud
January 3, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, and Senator Ted Cruz on 1/4/18


The following is an Op-Ed to “The Wall Street Journal”, “The New York Times”, “The Washington Post”, and “The Dallas Morning News” that explains how the “Synchronized Global Growth” that is now the consensus rationale for the current economic expansion is really caused by U.S. Government fiscal and accounting fraud!


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 and the rest of the planet so they can “feather their own nests” and “dramatically feather the nests of their upper-class friends”!


At some point, when the “news media” fails to follow its ethical responsibility to inform the general public of this U.S. Government fraud, ethical responsibility failure transitions to a criminal act by the “news media” for aiding and abetting the corrupt and criminal U.S. Government!


Synchronized Global Growth by Fraud

January 3, 2018


The global economy appears to be strong and getting stronger. This economic strength is frequently explained by the TV pundits, economists, and financial experts as  “Synchronized Global Growth”! This “Synchronized Global Growth” is also the usual explanation for why the stock market is continuing to set new record highs!


The real reason the global economy appears to be strong and the stock market is setting new record highs is due to one reason and one reason only; the U.S. Government is committing fiscal and accounting fraud! The corrupt and criminal U.S. Government is not operating its fiscal policy according to proper GAAP Accounting!


GAAP Accounting (Generally Accepted Accounting Principles) is also called accrual accounting which calls for a financial entity to accrue, collect in a trust fund, the money to pay future benefit promises. Since  FY1969, the U.S. Government has been underfunding the benefit promises to the U.S. general public and deferring these liabilities to the future Americans in the amount of $90.9 Trillion (US Unfunded Future Liabilities). The U.S. Government has also assumed National Debt of $20.6 Trillion by overspending on a cash basis. In total the U.S. Government has deferred $111.5 Trillion ($90.9T + $20.6T) of public liabilities to the future Americans (US Unfunded Liabilities (GAAP)).


Because the U.S. Government has deferred $111.5 Trillion of public liabilities to the future Americans and undertaxed the current Americans by $111.5 Trillion, this means that the U.S. Government has borrowed $111.5 Trillion from the future Americans and given it to the current Americans. The U.S. Government has given the current Americans $111.5 Trillion by borrowing money from the future Americans that the future Americans do not have. But the future Americans cannot pay these deferred public liabilities so the money gained by current Americans is imaginary money and has no value so it is counterfeit money. The U.S. Government is borrowing money that the future Americans do not have and giving it to the current Americans, therefore I call this fraudulently borrowed money; imaginary-counterfeit money.


GAAP basis deficit spending is printing imaginary-counterfeit money by borrowing money from the future Americans that the future Americans do not have and giving it to the current Americans. This is a classic Ponzi scheme that I call USAPonzi! This Ponzi scheme is what is causing “Synchronized Global Growth” and is the causing the stock market to continually go up. Americans are buying stuff with $111.5 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans.


The corrupt and criminal U.S. Government is digitally printing imaginary-counterfeit money and giving it to the U.S. upper class with GAAP basis deficit spending! The corrupt and criminal U.S. Government is not operating with proper accrual accounting (GAAP Accounting). Because of this fraud, the U.S. Government is not only overspending on a cash basis, which it reports, it is also not accruing for future benefit promises that it has made to the U.S. general public. As a result, the corrupt and criminal U.S. Government has undertaxed the U.S. upper class by $111.5 Trillion (US Unfunded Liabilities (GAAP)) and given them $111.5 Trillion of imaginary-counterfeit money with GAAP basis deficit spending over the last 48 years!


The corrupt and criminal U.S. Government is printing $16.4 Billion more imaginary-counterfeit money every day with GAAP basis deficit spending and giving it to the U.S. upper class! The U.S. Government has fraudulently borrowed $111.5 Trillion from the future Americans and given it to the U.S. upper class! This fraud will continue to pump an exponentially increasing amount of imaginary-counterfeit money into the U.S. and global economy which is what is causing the global economy to appear to be very strong! By deferring $111.5 Trillion of public liabilities to the future Americans the U.S. Government has created $111.5 Trillion of imaginary-counterfeit money out of “thin air” and given it to the current Americans.


Americans are buying things with money that the U.S. Government has fraudulently borrowed from the future Americans. This $111.5 Trillion of imaginary-counterfeit money is massively stimulating the global economy and making businesses appear to be dramatically profitable and dramatically valuable which is what is making the stock market go up! Buying product with imaginary money generates imaginary revenue which generates imaginary profits which generates imaginary stock valuations which causes the stock market to go up! The Dow Jones Industrial Average and the S&P Average are going up because the U.S. Government is borrowing $16.4 Billion of imaginary-counterfeit money every single day from the future Americans and giving it to the U.S. upper class!


Since the U.S. Government is continuously printing imaginary-counterfeit money with GAAP basis deficit spending, the stock market is on a path toward infinity!


The corrupt and criminal U.S. Government is fraudulently borrowing monopoly money ($111.5 Trillion) from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class!


This is a criminal act by the U.S. Government! The U.S. Government is running a classic $111.5 Trillion Ponzi scheme, I call it USAPonzi, to stimulate the global economy! When this Ponzi scheme implodes, this now $111.5 Trillion of imaginary-counterfeit money will evaporate and “Synchronized Global Growth” will transition abruptly to a “Global Depression”!


This broadly referenced “Synchronized Global Growth” is caused by U.S. Government fiscal and accounting fraud!


The stock market is setting new record highs simply because the U.S. Government is committing a fiscal and accounting fraud that is printing imaginary-counterfeit money by borrowing money from the future Americans, money the future Americans do not have, and giving it to the current Americans!


This Accounting fraud induces inflation!


This U.S. Government accounting fraud is also what is causing inflation. The U.S. Government is printing imaginary-counterfeit money at the rate of our GAAP basis deficit spending of $16.4 Billion a day since our GAAP Deficit in FY2018 is estimated to be $5.98 Trillion. Therefore the ratio of our GAAP  Deficit to our Total National Assets ($134.3 Trillion) is the nominal rate of inflation 4.4% ($5.98T/$134.3T = 0.0445). This accounting fraud is what has caused the price of housing and everything else to increase by nominally 5% per year since USAPonzi was launched in FY1969.


USAPonzi is the cause of the Housing Bubble! USAPonzi was the cause of the Internet Bubble! USAPonzi is the cause of bubbles in all asset classes!


Handing out $111.5 Trillion of imaginary-counterfeit money to the current Americans is what is making the economy appear strong, is causing the stock market to go up, is causing housing prices to go up, and is causing the prices of everything to go up!


The rate at which the U.S. Government is printing imaginary-counterfeit money is also increasing exponentially because the U.S. Government has to pay compound interest on the $111.5 Trillion of public liabilities since these public liabilities are assessed at present value!


The corrupt and criminal U.S. Government is committing fiscal and accounting fraud by not using proper GAAP Accounting which is fraudulently inducing “Synchronized Global Growth”!


The global economy is expanding simply because the U.S. Government has assumed $111.5 Trillion of public liabilities and is continuously assuming more public liabilities at the rate of our GAAP basis deficit spending! The only problem is; these public liabilities can never be paid!


This fraudulent “Synchronized Global Growth” is actually occurring because Lee Harvey Oswald assassinated John F. Kennedy (See The Oswald Financial Bubble)!


$111.5 Trillion is one hell of a lot of fraud!


National Debt  $20.6 Trillion 
Cash Deficit in FY2016  $0.66 Trillion 
GAAP Deficit in FY2016  $5.98 Trillion 
US Unfunded Future Liabilities  $90.9 Trillion 
US Unfunded Liabilities (GAAP)  $111.5 Trillion 
Imaginary-Counterfeit Money  $111.5 Trillion 
Total National Assets  $134.3 Trillion 

www.usdebtclock.org January 3, 2018


To eliminate this fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.


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. The www.usaponzi.net website is an introduction to my more detailed website www.usaponzi.com and my books “USAPonzi” (Nov 22, 2015) and “USAPonzi2” (May 1, 2017) which are available on Amazon to better explain this fraud/Ponzi scheme.


This fraud/Ponzi scheme is also explained in “short story style” in my October 1, 2017 commentary USAPonzi CliffsNotes and in my October 8, 2017 commentary USAPonzi Elevator Speech.


This is the biggest ($111.5 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.


John W. White

Plano, TX