USAPonzi-The Biggest Ponzi Scheme on the Planet-The U.S. Government

                    Copyright Declaration                                                                                                                                       John W. White    March 29, 2013

The Concept of Imaginary-Counterfeit Money
October 6, 2016

National Debt 
$19.5 Trillion 
Cash Deficit in FY2017  $0.59 Trillion 
GAAP Deficit in FY2017 
$5.70 Trillion 
US Unfunded Future Liabilities 
$84.2 Trillion 
US Unfunded Liabilities (GAAP) 
$103.7 Trillion 
Imaginary-counterfeit money 
  $103.7 Trillion 
Total National Assets 
$123.7 Trillion 

     Source: October 6, 2016

On my website ( and in my book (USAPonzi), I repeatedly use the term counterfeit money to describe the money that this Ponzi scheme is producing out of thin air” with GAAP basis deficit spending. In my March 8, 2016 commentary The Theory of Imaginary Money I attempted to better explain this concept of counterfeit money by introducing the term “imaginary-counterfeit money”. Understanding the meaning of counterfeit money and imaginary-counterfeit money is fundamental to understanding USAPonzi and the impact it is having on the global financial system and the global economy.

A simple definition:

imaginary-counterfeit money is the money that the U.S. Government has borrowed from the future Americans and given to the current Americans.

As of October 6, 2016, the U.S. Government has borrowed $103.7 Trillion of imaginary-counterfeit money from the future Americans and given it to the current Americans.

is a massive ($103.7 Trillion) Ponzi scheme because it is deferring public liabilities to the future Americans and relieving the current Americans of these public liabilities. The U.S. Government is imagining that the future Americans will pay these public liabilities someday so I call the money gained by the current Americans; imaginary-counterfeit money. The U.S. Government imagines that the future Americans can eventually pay these public liabilities so it is imaginary money. But the future Americans can never pay these deferred public liabilities so this is counterfeit money since it is being borrowed/stolen from an unreliable payer. Therefore, I have introduced the terminology "imaginary-counterfeit money" since the money fraudulently gained by the current Americans by deferring these public liabilities to the future Americans is both imaginary and counterfeit.

The amount of imaginary-counterfeit money in the global financial system is the amount of public liabilities that have been deferred to the future Americans and is reported on as US Unfunded Liabilities (GAAP) which, as of this writing, is $103.7 Trillion.

The planet appears to be getting rich because the U.S. Government is borrowing/stealing imaginary-counterfeit money from the future Americans and giving it to the current Americans. This imaginary-counterfeit money is being created out of "thin air" at the rate of our GAAP basis deficit spending which is currently estimated to be $5.70 Trillion in FY2017 which is  $15.6 Billion every day.

I call this ever expanding pool of imaginary-counterfeit money "The Oswald Financial Bubble" because this fraud was caused by the assassination of John F. Kennedy by Lee Harvey Oswald.

Total National Assets in the above table is the private net worth of all U.S. citizens and businesses and is estimated to be $123.7 Trillion as of this writing. Therefore, 84% of our current U.S. private net worth has been produced out of "thin air" with GAAP basis deficit spending ($103.7T/$123.7T = 0.84).

The U.S. and global upper class appears to be getting rich with imaginary-counterfeit money. We are buying things we cannot afford with imaginary-counterfeit money. We have built too many real banks into which we are depositing more and more imaginary-counterfeit money. We are buying/building houses, condos, apartment houses, office buildings, hotels, skyscrapers, cars, trucks, airplanes, boats, oil, gas, smartphones, TVs, sports arenas, resorts, universities, food, clothes, TV subscriptions, telephone subscriptions, etc. etc. with the imaginary-counterfeit money produced by USAPonzi (See Filling the Planet with Junk!).

We are dramatically overpaying our athletes and entertainers with imaginary-counterfeit money (See Why Pro Athletes make $Millions). We are borrowing/stealing money from the future Americans to pay our basketball players, football players, and golfers a whole hell of a lot of money. But in reality almost all Americans are getting paid with the imaginary-counterfeit money produced by the U.S. Government fraud and corruption of USAPonzi.

We have a global economy and financial system that according to
now (October 6, 2016) contains $103.7 Trillion of imaginary-counterfeit money that has been produced by the GAAP basis deficit spending of USAPonzi. The future Americans are now expected to pay for all of the stuff that we have bought, built, and consumed with the imaginary-counterfeit money that we have already spent.

This is the fundamental cause of the
USAPonzi fraud; the U.S. Government is willingly, knowingly, and fraudulently releasing imaginary-counterfeit money into the global financial system at an exponentially increasing rate by using an improper accounting system, Cash Accounting rather than the proper GAAP Accounting, and therefore is operating with a dramatically unbalanced budget.

This imaginary-counterfeit money will evaporate into the "thin air" from whence it came when USAPonzi implodes (See The Implosion of USAPonzi).

LeBron James has endorsed Hillary Clinton with the hope that Hillary will continue this Ponzi scheme so that he can continue to earn $Millions of these imaginary-counterfeit dollars. USAPonzi, if it is allowed to continue, will create an infinite amount of imaginary-counterfeit money and LeBron James can get really, really rich instead of just the measly $450 Million he as gained so far from this U.S. Government fraud.

This fraud and corruption can only be eliminated by the U.S. Government adopting GAAP Accounting and committing to a balanced GAAP basis budget.

This fraud and corruption within the U.S. Government is explained in much more detail on my website and in my book "USAPonzi" that is available on Amazon in Kindle and paperback formats.

The size of this U.S. Government fraud is easily determined; it is the amount of imaginary-counterfeit money that the U.S. Government has borrowed/stolen from the future Americans which is reported on as US Unfunded Liabilities (GAAP).

USAPonzi is a massive ($103.7 Trillion) fraud; "The Biggest Ponzi Scheme on the Planet"!