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

The Cause of the Internet and Housing Bubbles
May 28, 2017    Emailed to WSJ/NYT/DMN on May 28, 2017


The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that explains the cause of The Internet Bubble and The Housing Bubble.


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 Cause of the Internet and Housing Bubbles

May 28, 2017


The Internet Bubble and The Housing Bubble were both caused by corruption within the U.S. Government. Since FY1969, the U.S. Government has been running a Ponzi scheme (USAPonzi) by operating the fiscal policy of the U.S. Government with fraudulent accounting. The U.S. Government is using Cash Accounting rather than using the proper and Generally Accepted Accounting Principles of GAAP Accounting. By not using GAAP Accounting, the U.S. Government has not been taxing the U.S. upper class enough to properly fund the future benefit promises that the U.S. Government has made to the general public.


The U.S. Government has undertaxed the U.S. upper class by $106.3 Trillion (US Unfunded Liabilities (GAAP)) giving the U.S. upper class $106.3 Trillion and deferring $106.3 Trillion of public liabilities to the future Americans. The U.S. Government has borrowed $106.3 Trillion of imaginary-counterfeit money from the future Americans and given it to the current Americans but most of this imaginary-counterfeit money is ending up in the pockets of the U.S. upper class. The money that the U.S. Government is borrowing from the future Americans is imaginary-counterfeit money because the future Americans do not have $106.3 Trillion. The U.S. Government is borrowing money that does not exist and will never exist; it is both imaginary and counterfeit.


The U.S. upper class is appearing to get filthy rich because the U.S. Government is fraudulently borrowing imaginary-counterfeit money from the future Americans and giving it to the U.S. upper class by undertaxing them by $106.3 Trillion our US Unfunded Liabilities (GAAP). This is a $106.3 Trillion fraud!!!!!


This U.S. Government fiscal and accounting fraud, that I call USAPonzi, is also what is causing the wealth and income gap! The U.S. Government has fraudulently given the U.S. upper class $106.3 Trillion of imaginary-counterfeit money! That is some wealth gap!!!!


The current Americans are buying goods and services from companies all over the planet with $106.3 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans. These companies are appearing to make massive profits and investors are appearing to get extremely rich because the current Americans are buying stuff that they cannot afford with the $106.3 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans.


If the U.S. Government continues to operate this Ponzi scheme fiscal policy, the U.S. upper class will have an infinite amount of imaginary-counterfeit money and the Stock Market will go to infinity. An infinite amount of imaginary-counterfeit money can buy an infinite amount of any product that companies can dream up and generate an infinite amount of profit for the most innovative companies which will generate an infinite amount of imaginary-counterfeit value (market cap) for these companies.


We are buying houses, cars, trucks, airplanes, smartphones, oil, gold, healthcare, etc., etc. with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans and given to the current Americans.


Following this same rationale, the price of houses in the U.S. will also go to infinity because the current Americans, primarily the U.S. upper class, will have an infinite amount of imaginary-counterfeit money with which to buy and build bigger and bigger houses. This is why the upper class, throughout the planet, can have big cars, big houses, and live opulent even super-opulent lifestyles.


The U.S. Government is producing imaginary-counterfeit money out of "thin air", $106.3 Trillion so far, by fraudulently borrowing it from the future Americans. The future Americans have an infinite amount of imaginary-counterfeit money, it is after all imaginary, so the U.S. Government can continue this fraud for a long, long time.


This massive U.S. Government fraud is producing many, many financial debacles but The Internet Bubble and The Housing Bubble are just two of the more visible bubbles that this U.S. Government fraud has produced. The Automobile Bubble is also becoming quite visible as traffic gets more and more congested because we will eventually be able to buy an infinite number of cars with an infinite amount of this imaginary-counterfeit money (See How Lee Harvey Oswald creates traffic jams).


That is the good thing about infinity, it is a very big number! An infinite amount of imaginary-counterfeit money can buy an infinite number of smartphones and an infinite number of houses and an infinite number of cars and an infinite number of trucks and an infinite number of airplanes and an infinite amount of oil and an infinite amount of gold and an infinite number of an infinite number of other things! And also the price of each of these things can also increase to infinity.


Infinity is a very big number and the U.S. Government is operating with a fiscal policy that will borrow an infinite amount of imaginary-counterfeit money from the future Americans and give it to the U.S. upper class. This is just what Ponzi schemes do.


Infinity is a very very big number!


This U.S. Government fraud has allowed Americans to buy, build, and consume a lot of stuff that we cannot afford with imaginary-counterfeit money ($106.3 Trillion so far) that the U.S. Government has fraudulently borrowed from the future Americans and given to the current Americans with most of this imaginary-counterfeit money going to the U.S. upper class.


That is why we see rich folks buy a big house on a nice lot, tear it down, and build a bigger and nicer house; the U.S. upper class is collecting an infinite amount of imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans and giving to the U.S. upper class. The U.S. upper class will be able to buy almost anything they want with this infinite supply of imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans.


The U.S. Government must start telling the financial truth by using GAAP Accounting! See "Truth in the U.S. Government"!


The Internet Bubble and The Housing Bubble are both continuing to expand because the U.S. Government is continuing to borrow imaginary-counterfeit money from the future Americans at the rate of our GAAP basis deficit spending which is estimated to be $5.57 Trillion in FY2017. And the amount of imaginary-counterfeit money that the U.S. Government is borrowing from the future Americans is increasing exponentially because the U.S. Government has to "pay" compounding imaginary interest on this imaginary-counterfeit borrowed money. The U.S. Government has to borrow extra imaginary-counterfeit money from the future Americans to "pay" this imaginary interest.


The Internet Bubble, The Housing Bubble, and The Imaginary-Counterfeit Money Bubble are all caused by this corruption within the  U.S. Government. And Janet Yellen still does not see any financial bubbles forming (See Janet Yellen: Liar or Fool?).

 

National Debt    $19.9 Trillion 
Cash Deficit in FY2017  $0.59 Trillion 
GAAP Deficit in FY2017 
$5.57 Trillion 
US Unfunded Future Liabilities  $86.4 Trillion 
US Unfunded Liabilities (GAAP)  $106.3 Trillion 
Imaginary-Counterfeit Money 
$106.3 Trillion 
Total National Assets 
$131.8 Trillion 

Source: www.usdebtclock.org May 28, 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 ($106.3 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