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

The $105.8 Trillion U.S. Government Fraud
April 15, 2017    Emailed to WSJ/NYT/DMN on April 15, 2017


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 enrich themselves and to colossally enrich the U.S. upper class.


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".


The $105.8 Trillion U.S. Government Fraud
April 15, 2017


The U.S. Government and the U.S. upper class are conspiring to dramatically enrich themselves.


The U.S. Government is using a very simple technique to implement this fraud. The U.S. Government has borrowed $105.8 Trillion from the future Americans and given it to the U.S. upper class and then has borrowed $19.9 Trillion from the U.S. upper class so that they can overpay themselves.


This is fraud because the future Americans do not have $105.8 Trillion.


The U.S. Government is corrupt! The senior officials of the U.S. Government are criminals! The U.S. Government is borrowing what I call imaginary-counterfeit money from the future Americans to enrich the U.S. upper class. I call this fraud USAPonzi because it is a classic Ponzi scheme that is being operated by the U.S. Government. The U.S. Government is assuming that the future Americans will be able to pay an infinite amount of taxes forever. This is the nature of a Ponzi scheme, the indebtedness of the scheme increases geometrically until it finally implodes.


If this fraud is allowed to continue, it will borrow an infinite amount of imaginary-counterfeit money from the future Americans and give an infinite amount of imaginary-counterfeit wealth to the U.S. upper class. The U.S. Government then borrows a chunk of this imaginary-counterfeit money every year to overpay itself.


The U.S. Government is using a fraudulent accounting system in an attempt to conceal this fraud. The U.S. Government is using Cash Accounting rather than the proper GAAP Accounting (Generally Accepted Accounting Principles). By using Cash Accounting, the U.S. Government is not accruing for the future benefit promises that they have made to the U.S. citizenry and as a result has deferred $105.8 Trillion of US Unfunded Liabilities (GAAP) to the future Americans.


The U.S. upper class has gained $105.8 Trillion of imaginary-counterfeit wealth because the U.S. Government has undertaxed the U.S. upper class by $105.8 Trillion because the U.S. Government is operating with Cash Accounting rather than the proper GAAP Accounting. The U.S. Government has fraudulently given the U.S. upper class $105.8 Trillion and if this fraud continues will give the U.S. upper class infinite imaginary-counterfeit wealth. At that point in time, we will have an infinite wealth and income gap between the haves and the have-nots.


By using Cash Accounting, the U.S. Government is not adequately funding the future benefit promises to the U.S. citizenry and has created $85.9 Trillion of US Unfunded Future Liabilities as of April 15, 2017. The U.S. Government is cheating the U.S. Common Man so that it can enrich the U.S. upper class and overpay itself.


This fraud is also cheating the rest of the planet because the U.S. Government is borrowing an infinite amount of imaginary-counterfeit money from the future Americans and giving it to the current Americans so we can buy stuff with this fraudulently borrowed money. Because of this fraud, we are Filling the Planet with Junk because an infinite amount of fraudulently borrowed imaginary-counterfeit money can buy an infinite amount of stuff. That is, until the rest of the planet finally realizes that the U.S. Government is creating an infinite amount of imaginary-counterfeit money out of "thin air" to buy their stuff.


One of the more visible impacts of this U.S. Government fraud are traffic jams. Because the U.S. Government is borrowing an exponentially increasing amount of imaginary-counterfeit money from the future Americans and giving it to the current Americans, we can buy an exponentially increasing number of cars and trucks. Unless the U.S. Government starts using honest accounting, our U.S. road and highway system will become one giant parking lot. An infinite amount of imaginary-counterfeit money can buy an infinite amount of cars and trucks (See The Automobile Bubble).


But this fraud is causing bubbles in all asset classes, not just automobiles. More of these bubbles, including the "Internet Bubble", the "Housing Bubble", and the "Stock Market Bubble" are explained on my websites and in my book ("USAPonzi").


The U.S. Government is creating an ever-expanding pool of imaginary-counterfeit money by operating with fraudulent accounting and the U.S. upper class is the primary beneficiary of this fraud. I call this ever-expanding pool of imaginary-counterfeit money, "The Oswald Financial Bubble", since this fraud was introduced because Lee Harvey Oswald assassinated John Fitzgerald Kennedy.


The U.S. Government is being run by a bunch of criminals!


This fraud has given the U.S. upper class $105.8 Trillion of imaginary-counterfeit money!

 

National Debt    $19.9 Trillion 
Cash Deficit in FY2017  $0.59 Trillion 
GAAP Deficit in FY2017 
$5.59 Trillion 
US Unfunded Future Liabilities  $85.9 Trillion 
US Unfunded Liabilities (GAAP)  $105.8 Trillion 
Imaginary-Counterfeit Money 
$105.8 Trillion 
Total National Assets 
$130.6 Trillion 

Source: www.usdebtclock.org April 15, 2017


This U.S. Government 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 is the biggest ($105.8 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
Plano, TX