The Day We Run Out Of Money! 181011
October 11, 2018
Emailed to WSJ/NYT/WP/DMN, the US SEC, Congressman Pete Sessions, Congressman Sam Johnson, Senator John Cornyn, and Senator Ted Cruz on 10/11/18
The following is an Op-Ed to “The Wall Street Journal”, “The New York Times”, “The Washington Post”, and “The Dallas Morning News” which explains why the White House Chief Economist Larry Kudlow is a fool!
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 “news media” is aiding and abetting the corrupt and criminal U.S. Government by refusing to report this fiscal and accounting fraud! The U.S. Government should be operating its fiscal policy with accrual accounting!
The Day We Run Out Of Money! 181011
October 11, 2018
The day we run out of money is coming!
Why do I say that! Because the U.S. Government is running a classic Ponzi scheme that is borrowing money from the future Americans and giving it to the U.S. upper class! So far the U.S. Government has borrowed $115.1 Trillion from the future Americans and is borrowing another $16.6 Billion more every day! When someone in Washington finally realizes that we cannot keep borrowing more and more money from the future Americans, this Ponzi scheme will implode and no one will have any money!
The U.S. upper class will not have any money because their wealth was gained because it was mostly money that the U.S. Government borrowed from the future Americans, money the future Americans did not have, so most of their wealth will evaporate into the "thin air" from whence it came!
The U.S. Government benefit recipients will not have any money because the U.S. Government has not been funding the future benefits promises!
The U.S. Government employees will not get paid because the U.S. Government will not be able to borrow money to pay them!
Most of the Common Man will not have a meaningful income because the $6.05 Trillion of GAAP basis deficit spending by the U.S. Government will evaporate when the U.S. Government is forced to start using proper GAAP Accounting and has to balance the GAAP basis budget!
The day the money runs out, will precipitate a massive global depression that will rival or even exceed the Great Depression!
Larry Kudlow, the White House Chief Economist, is a fool! Larry Kudlow is director of the National Economic Council and he has no clue that the U.S. economy is booming because the U.S. Government is corrupt!
Larry Kudlow is now the national economic cheerleader for the fiscal and accounting fraud, I call it USAPonzi, that is being perpetrated by the U.S. Government!
Larry Kudlow: 'Single Biggest Event' of 2018 Is Trump's 'Economic Boom Thought to Be Impossible'
Kudlow: US has the hottest economy in the world today: 'We're crushing it'
Larry Kudlow: US economy is 'crushing it' while Chinese economy 'looks terrible'
In an appearance at The Economic Club of Washington, D.C., Kudlow said we’re in the midst of an unexpected economic boom resulting in large part from the administration’s agenda of tax cuts and deregulation — and, contrary to many economists’ expectations, he again argued that the benefits would be lasting. “This is not a sugar high,” he said.
Larry Kudlow is a fool! Larry Kudlow does not know that the U.S. economy is booming only because the U.S. Government is printing counterfeit money and giving it to the U.S. upper class!
Author's Note: Larry Kudlow is not the only person that has been fooled by this fraud. Apparently, the Fed Chairman Jay Powell has been fooled by this fraud. Apparently, all of the Fed Chairmen since 1969 have been fooled by this fraud! Apparently, Jeremy Siegel, Economics Professor at Wharton, has been fooled by this fraud. Apparently, all of the economic commentators on CNBC have been fooled by this fraud. Hopefully, some of the members of Congress have been fooled by this fraud, otherwise they have no excuse for not exposing this criminal activity by the U.S. Congress. A lot of people either are fooled by this fraud or they want to pretend like they have been fooled by this fraud!
The U.S. Government is using fraudulent accounting to print counterfeit money to create the illusion of “crushing it” and to create an ever-increasing “sugar high” for the U.S. upper class and the U.S. ruling class!
The U.S. Government is corrupt! The U.S. Government is not using proper and Generally Accepted Accounting Principles (GAAP Accounting)!
The corrupt and criminal U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that has already printed $115.0 Trillion of counterfeit money, I call it imaginary-counterfeit money, by fraudulently borrowing it from the future Americans and given it to the U.S. upper class!
Every day, the corrupt and criminal U.S. Government fraudulently borrows another $16.6 Billion of imaginary-counterfeit money from the future Americans, money the future Americans do not have, and gives it to the U.S. upper class with GAAP basis deficit spending!
This is how the corrupt and criminal U.S. Government has produced a booming U.S. economy!
The corrupt and criminal U.S. Government prints counterfeit money and gives it to the U.S. upper class!
The corrupt and criminal U.S. Government has fraudulently given the U.S. upper class $115.0 Trillion of imaginary-counterfeit money!
This is why the U.S. upper class have big cars, big houses, private schools, and country club lifestyles!
This is why we have a wealth and income gap in America! $115.0 Trillion of imaginary-counterfeit money fraudulently given to the U.S. upper class can create quite a wealth and income gap!
This was not done by Donald Trump, as he claims!
This was not done by Larry Kudlow, as he claims!
This was done by another scoundrel, Lyndon Baines Johnson, in FY1969 when he convinced Congress that he could balance the budget in fiscal year 1969 by borrowing the money from the social benefit trust funds if Congress would just approve the Unified Budget! Adopting the Unified Budget without switching from Cash Accounting to GAAP Accounting is what has produced this now $115.0 Trillion Ponzi scheme that I call USAPonzi!
We have a bunch of criminals and/or fools in Washington and Donald Trump has brought in another fool, Larry Kudlow, to be the national economic cheerleader for the fraud and corruption within the U.S. Government!
USAPonzi is a $115.0 Trillion Fraud!
The U.S. Government is corrupt!
The senior officials of the U.S. Government are common criminals that have committed a $115.0 Trillion criminal act by not operating the U.S. Government fiscal policy with proper accrual accounting! The senior officials of the U.S. Government are common criminals because they are direct financial beneficiaries of this massive fraud! The corrupt and criminal U.S. Government is overpaying itself with imaginary-counterfeit money!
We have 535 criminals in the U.S. Congress and an untold number of criminals in the White House!
I have sent 14 whistleblower letters to the U.S. Securities and Exchange Commission, a whistleblower letter to every member of the U.S. Congress, and 9 whistleblower letters to each member of the U.S. Supreme Court so that all three branches of the U.S. Government would be informed of this massive fraud!
I have also sent over 200 Op-Eds to the “mainstream media” in an attempt to expose this massive fraud to the citizens of Planet Earth! None of these Op-Ed candidates have been published!
This massive fraud is explained in more detail in my Open Letter to US Government, my Open Letter to Planet Earth, and my Open Letter to US General Public!
I have presented specific fraud charges against the U.S. Government in my Fraud Charges against U.S. Government commentary!
I have also explained this fraud to the International Monetary Fund in my Open Letter to the International Monetary Fund commentary!
To eliminate this massive ($115.0 Trillion) fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.
|Cash Deficit in FY2018
|GAAP Deficit in FY2018
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Oct 5, 2018
This fraud/Ponzi scheme (USAPonzi) is explained in much more detail on my websites www.usaponzi.net and www.usaponzi.com and in my books “USAPonzi” 11/22/15, “USAPonzi2” 5/1/17, “USAPonzi3” 2/1/18, and “USAPonziA” 9/1/18! Each of these books have updates that I made every few days until the next book was published. I have published 661 commentaries since March 29, 2013 in an attempt to explain and expose this massive U.S. Government fraud!
This is the biggest ($115.0 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
John W White