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

The absurd, impossible American Dream!
August 1, 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 8/2/19
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The origin of the phrase “the American Dream”
Today the phrase “the American Dream” is a staple of political campaigns, book titles, and economic discussions. Everybody's heard it, but nobody knows quite how to define it. It's a phrase that feels as old as the country itself. But the American Dream wasn't invented in 1776. The term was coined in 1931. James Truslow Adams came up with “the American Dream” for his 1931 book, The American Epic.


The meaning of “the American Dream” from Wikipedia
The American Dream is a national ethos of the United States, the set of ideals (democracy, rights, liberty, opportunity and equality) in which freedom includes the opportunity for prosperity and success, as well as an upward social mobility for the family and children, achieved through hard work in a society with few barriers. In the definition of the American Dream by James Truslow Adams in 1931, “life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement” regardless of social class or circumstances of birth (Wikipedia).


Today, America appears to be the wealthiest and most prosperous country on the planet supporting the claim of the American Dream! However, this illusion of wealth and prosperity in America is being produced by U.S Government fiscal and accounting fraud! The U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is borrowing money, I call it imaginary-counterfeit money, from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!


America appears to be realizing the American Dream by fraudulently deferring $125.1 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans!


The U.S. Government is promising U.S. Government benefits to the U.S. general public but is not taxing the U.S. upper class enough to pay for these benefits!


The U.S. Government is promising U.S. Government benefits to the U.S. general public but is not accruing the money to pay for these benefits.


The U.S. Government is not using proper and Generally Accepted Accounting Principles (GAAP Accounting)! The U.S. Government is promising and paying U.S. Government benefits that are grossly unaffordable and unsustainable! The only way to determine if U.S. Government benefit promises are affordable and sustainable is to use GAAP Accounting and commit to a balanced GAAP basis federal budget.


The American Dream has been fraudulently produced by this U.S. Government fiscal and accounting fraud!


The highly touted American Dream is absurd and impossible to sustain without accruing the money to pay for future U.S. Government benefit promises! You cannot get something for nothing forever but the U.S. Government has been committing this fiscal and accounting fraud for now nearly 50 years!


The U.S. Government is operating its fiscal policy with Cash Accounting that only assesses how well the U.S. Government is balancing its Cash basis budget; i.e. matching current period cash expenditures with current period tax income. 


When the U.S. Government promises and pays U.S. Government benefits to the U.S. general public but does not tax the U.S. upper class enough to pay for these benefits, the U.S. upper class gets filthy rich, currently $125.1 Trillion richer, and the U.S. general public gets screwed!


The U.S. Government has borrowed $22.6 Trillion (National Debt) from the future Americans, has deferred another $102.5 Trillion (US Unfunded Future Liabilities) of public liabilities to the future Americans, and has undertaxed the U.S. upper class by $125.1 Trillion (US Unfunded Liabilities (GAAP))!


The U.S. Government has given the U.S. upper class $125.1 Trillion and is paying U.S. Government benefits to the U.S. general public that are totally irrational, unaffordable, unsustainable, and unfunded!


This fraud has created the idle rich and the idle general public!


The U.S. Government is committing a fiscal and accounting fraud that is making the U.S. upper class filthy rich while doing nothing and a large percentage of the U.S. general public are being paid unaffordable and unsustainable U.S. Government benefits while doing nothing!


The only people in America that are doing anything that produces real income are the middle class folks that are producing food and products of value. These folks are fortunate to produce enough to sustain themselves. How can these real income producing folks pay enough taxes to provide lifetime Social Security, healthcare, government pensions, and veteran's benefits to the future Americans!


Of course they cannot! If the U.S. Government was using proper GAAP Accounting it would know that it is making benefit promises at a level that cannot possibly be sustained! GAAP Accounting reports that the U.S. Government has fraudulently borrowed $125.1 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans and given it to the current Americans!


The U.S. standard of living is dramatically elevated because the U.S. Government is committing a fiscal and accounting fraud that has given the current Americans, primarily the U.S. upper class, $125.1 Trillion by undertaxing them!


This fraud is causing the drug crisis, social disintegration, class conflict, and social injustice!


Because the U.S. Government is fraudulently borrowing money, so far $125.1 Trillion, from the future Americans, money the future Americans do not have, and giving it to the current Americans, many Americans do not have to work for a living.


This U.S. Government fiscal and accounting fraud is printing imaginary-counterfeit money, so far $125.1 Trillion, that gives many Americans the time and the money to buy and use drugs! $125.1 Trillion can buy a lot of drugs!


Further, since many Americans do not have to work for a living because of this fiscal and accounting fraud, many Americans, especially the idle youth, are spending an inordinate amount of time playing video games and watching videos! This is dramatically reducing the amount of time for humans to interact with one another!


If the U.S. Government was using proper GAAP Accounting, many more Americans would need to work for a living which generally encourages more interaction with other humans! If Americans had to work for a living, they would have much less time to play with their smart phones, play video games, and watch videos like Netflix and YouT
ube!


This U.S. Government fiscal and accounting fraud is borrowing money, so far $125.1 Trillion, from the future Americans and giving it to the current Americans, primarily the U.S. upper class, so many Americans can sit alone and play with their smart phones, play video games, and watch Netflix and YouTube videos!


This fraud is causing social disintegration by printing counterfeit money so Americans can get paid even when they are not working! 


This U.S. Government fiscal and accounting fraud is also causing class conflict! This accounting fraud has enriched the U.S. upper class by $125.1 Trillion while the U.S. general public is being paid unaffordable but relatively fixed U.S. Government benefits if they are U.S. Government benefit recipients or are being paid relatively fixed wages if they are working!


Is it any wonder that the U.S. general public resents the fact that the U.S. Government has fraudulently enriched the U.S. upper class by $125.1 Trillion! The U.S. Government fraudulently borrows $16.8 Billion every day from the future Americans and gives it to the U.S. upper class to continuously and fraudulently enrich the U.S. upper class!


This fraud is causing massive social injustice and creating a massive wealth and income gap by undertaxing the U.S. upper class by $125.1 Trillion and underfunding the future U.S. Government benefit promises to the U.S. general public by $102.5 Trillion! This is massive social injustice when the U.S. Government is giving the U.S. upper class $125.1 Trillion and screwing the U.S. general public out of $102.5 Trillion!


This is why I say that this U.S. Government fiscal and accounting fraud is causing the drug crisis, social disintegrationclass conflict, and social injustice in America!


This fraud is causing Healthcare Cost to spiral out of control! 


The U.S. Government fiscal and accounting fraud, that I call USAPonzi, is causing healthcare cost to spiral out of control because the U.S. Government is printing counterfeit money, $125.1 Trillion so far, and giving it to the U.S. upper class! This fiscal and accounting fraud has caused a massive wealth and income gap in America! The U.S. upper class has been fraudulently given $125.1 Trillion of imaginary-counterfeit money so the U.S. upper class can afford to pay outrageous prices for their healthcare when the U.S. general public has to use their hard earned real money to pay for their healthcare!


The U.S. Government is screwing the U.S. general public so that it can enrich the U.S. upper class!


This U.S. Government fiscal and accounting fraud has fraudulently borrowed $125.1 Trillion from the future Americans and given it to the U.S. upper class! This fraud is in the process of printing an infinite amount of counterfeit money so the U.S. upper class can, in theory, pay an infinite amount of counterfeit money for their healthcare!


Until the U.S. Government starts using honest accounting, the cost of healthcare will continue to spiral out of control!


This U.S. Government fiscal and accounting fraud is enriching the U.S. upper class and screwing the U.S. general public! The price that the U.S. upper class can pay for healthcare is what is setting the price for healthcare!


The U.S. Government is using fiscal and accounting fraud to produce a massive wealth and income gap between the U.S. upper class and the U.S. general public! The U.S. Government has printed $125.1 Trillion of imaginary-counterfeit money and given it to the U.S. upper class so the U.S. upper class can buy things the U.S. general public can only dream about!


Honest accounting by the U.S. Government will dramatically reduce the cost of healthcare in America! With honest accounting both the U.S. upper class and the U.S. general public will be using real money to pay for their healthcare!


This fraud is building big luxurious cities!


The U.S. Government is fraudulently borrowing an unending and ever-increasing amount of imaginary-counterfeit money from the future Americans, money the future Americans do not have, and giving it to the current Americans, primarily to the U.S. upper class! The U.S. Government is printing an unending and ever-increasing amount of counterfeit money, so the current Americans, primarily the U.S. upper class, can buy and build an unending and ever-increasing number of bigger and bigger houses and can buy and build an unending and ever-increasing number of ever more luxurious high-rise condos and apartments.


This fiscal and accounting fraud is building many of these cities in places that do not have the resources to sustain them! I submit Phoenix, Las Vegas, and Abu Dhabi as examples of this fraudulent construction of unsustainable cities. When every morsel of food for these cities is purchased with imaginary-counterfeit money printed by the U.S. Government and has to be shipped to these cities with fuel that has been purchased with imaginary-counterfeit money printed by the U.S. Government, it should be obvious that these cities will become silent uninhabited monuments to the fraud and corruption of the U.S. Government when this accounting fraud is exposed!


This fiscal and accounting fraud is building ever more luxurious, ever more sprawling, and ever taller cities all over Planet Earth!


The U.S. Government is in the process of destroying Planet Earth by borrowing money from the future Americans, money the future Americans do not have, and giving it to the current Americans with GAAP basis deficit spending!


Planet Earth has already been so dramatically disfigured because of this fiscal and accounting fraud that almost all people on Planet Earth will perish when this accounting fraud is exposed!


This U.S. Government fiscal and accounting fraud, that I call USAPonzi, has disfigured Planet Earth by building and buying an infinite number of cars, by building and buying an infinite number of airplanes, by building and buying an infinite number of ever larger houses, and by building and buying an infinite number of ever larger and more luxurious condo and apartment buildings with the infinite supply of imaginary-counterfeit money that the corrupt and criminal U.S. Government is fraudulently borrowing from the future Americans with GAAP basis deficit spending!


The only people that can possibly survive this accounting fraud are those that can provide food, shelter, and clothing for themselves without depending on food and fuel that is produced by other people!


Most of the people on Planet Earth are living on the imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans and giving to the U.S. upper class


This fraud is causing illegal immigration!


Because the U.S. Government is paying grossly unaffordable U.S. Government benefits, nearly half of the U.S. population is willing to live on U.S. Government benefits rather than work at a minimum wage job! People outside of America will go to extreme measures to come to America to enjoy the fraudulent prosperity that this accounting fraud falsely produces. Many of these illegal immigrants are willing to accept pay that Americans will not accept! I read in the Dallas Morning News on July 25, 2019 that half of the construction work force in the Dallas metroplex are either legal or illegal immigrants!


We will continue to have a crisis at our southern border until the people frantically trying to get into America realize that the American Dream has been produced by the U.S. Government accounting fraud that I call USAPonzi.


The standard of living in America is dramatically elevated because the U.S. Government is not using proper GAAP Accounting to assess what level of U.S. Government benefits are affordable and sustainable.


The far left politicians are foolishly proposing even more U.S. Government benefits like a higher minimum wage, healthcare for everyone, free college education for everyone, sick leave, etc. etc. when the current level of U.S. Government benefits have not been paid for, for the last 50 years! The cost of these benefits has been fraudulently deferred to the future Americans by The Biggest Ponzi Scheme on the Planet!


America, and much of Planet Earth, is living on the imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans!


This fraud is causing America is destroy Planet Earth


Because the U.S. Government is fraudulently borrowing an unending and ever-increasing amount of money from the future Americans, money the future Americans do not have, and giving it to the current Americans, primarily the U.S. upper classPlanet Earth is in the process of building and buying an unending and ever-increasing number of cars, trucks, airplanes, boats, bigger and bigger houses, resorts, restaurants, banks, medical facilities, skyscrapers, luxury condos, guns, and bombs. Americans, primarily the U.S. upper class, are buying and building this stuff with $125.1 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans!


America is destroying Planet Earth by committing a fiscal and accounting fraud!


What will we do with this unending and ever-increasing number of cars, trucks, airplanes, boats, bigger and bigger houses, resorts, restaurants, banks, medical facilities, skyscrapers, luxury condos, guns, and bombs? This unending and ever-increasing number of environment-polluting physical objects is causing Global Warming that is destroying Planet Earth (See Global Warming Apocalypse)!


The implosion of USAPonzi
Will cause a Global Depression 4X more severe than The Great Depression!
Most of the people on Planet Earth will perish!


America, and all of Planet Earth, are in for a rude awakening when this U.S. Government fiscal and accounting fraud is properly exposed. When USAPonzi implodes, the U.S. upper class will lose nearly 100% of their apparent wealth and the U.S. Government benefit recipients will find that none of the promised U.S. Government benefits can be paid! The U.S. upper class got rich because the U.S. Government did not accrue the money to pay future U.S. Government benefits. Because the U.S. Government did not accrue the money to pay future U.S. Government benefits, these future benefits cannot be paid!


All banks will fail when USAPonzi implodes but that is a small problem when compared to the fact that most of the people on Planet Earth will perish when this fiscal and accounting fraud is exposed! The real income producing folks will decide to stop delivering food to the fraudulently enriched elite when they find out that the elite are buying their food with imaginary-counterfeit money that has been fraudulently borrowed from the future Americans!


I predict that the Global Depression that will occur when USAPonzi implodes will be about 4 times as severe as The Great Depression! I say this because, according to my analysis, the U.S. Total Financial Liabilities” as a percent of GDP are currently 4.3X what they were in 1929 (See U.S. Total Financial Leverage 4.3X 1929)!


The U.S. Government has made $125.1 Trillion of financial commitments that it cannot keep! The U.S. Government is bankrupt!


Essentially all Americans and many of the people on Planet Earth are living on the imaginary-counterfeit money, currently $125.1 Trillion, that the U.S. Government is fraudulently borrowing from the future Americans!

National Debt  $22.6 Trillion 
Cash Deficit in FY2019  $0.98 Trillion 
GAAP Deficit in FY2019  $6.13 Trillion 
US Unfunded Future Liabilities  $102.5 Trillion 
US Unfunded Liabilities (GAAP)  $125.1 Trillion 
Imaginary-Counterfeit Money  $125.1 Trillion 
Total National Assets  $155.0 Trillion 

Source: www.usdebtclock.org August 1, 2019


The corrupt and criminal U.S. Government is committing a
fiscal and accounting fraud to create the illusion that the American Dream is being realized!


This $125.1 Trillion fraud/Ponzi scheme is explained in more detail on my websites www.usaponzi.net and www.usaponzi.com and in my fifth book on this Ponzi scheme, “USAPonziB!


John W White

Plano, TX