The Great American Fraud-191022
October 22, 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 10/22/19
The Great American Fraud
The United States of America has been lying to and cheating Planet Earth for 50 years by perpetrating “The Great American Fraud”!
This is an Open Letter to Planet Earth to expose the biggest crime ($126.4 Trillion) ever committed! The United States of America has been “cooking the books” since 1969, when Lyndon Baines Johnson proposed and the U.S Congress approved the Unified Budget, to gain economic, financial, political, and military advantage for America over Planet Earth!
In this letter, I will briefly explain how corruption within the U.S. Government has produced “The Great American Fraud”! Simply stated, the U.S. Government is printing counterfeit money by borrowing money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class!
The U.S. Government is committing a fiscal and accounting fraud, I call it USAPonzi since it is a classic Ponzi scheme, by operating its fiscal policy with Cash Accounting rather than proper and Generally Accepted Accounting Principles (GAAP Accounting)! The U.S. Government is not accruing the money to pay future U.S. Government benefits!
By using this fraudulent accounting system, the U.S. Government is promising government benefits to the U.S. general public but is not taxing the U.S. upper class enough to pay for these government benefit promises! The U.S. upper class has gotten rich with counterfeit money because they have been undertaxed by $126.4 Trillion (US Unfunded Liabilities (GAAP)) and the U.S. general public has gotten cheated because their future government benefits have been underfunded by $103.5 Trillion (US Unfunded Future Liabilities)! This Ponzi scheme fiscal policy has also overpaid the U.S. ruling class by $22.9 Trillion (National Debt)!
This is why we have a wealth and income gap in America! This is why we have social injustice in America! The corrupt and criminal U.S. Government is enriching the rich and cheating the unrich by borrowing counterfeit money, I call it imaginary-counterfeit money, from the future Americans and giving it to the U.S. upper class!
This accounting fraud is cheating the rest of planet because Americans are buying stuff with imaginary-counterfeit money, currently $126.4 Trillion, that has been fraudulently borrowed from the future Americans!
How can the U.S. Government claim to be promoting equal economic opportunity for all and social justice for all when the U.S. Government is perpetrating an accounting fraud where the U.S. upper-class wins ($126.4 Trillion) and the U.S. general public loses ($103.5 Trillion)?
The U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget to level the economic playing field both within America and throughout Planet Earth!
This accounting fraud is in the process of borrowing an infinite amount of imaginary-counterfeit money from the future Americans and giving it to the U.S. upper class to make them infinitely rich and so the entire Planet can build and buy an infinite number of environment-polluting physical objects which are causing Global Warming that is Destroying Planet Earth!
We are in the process of burning up Planet Earth by building and buying an infinite number of cars, trucks, boats, airplanes, houses, apartments, condos, skyscrapers, banks, restaurants, football stadiums, airports, cities, etc. etc. with an infinite amount of imaginary-counterfeit money that is being fraudulently borrowed from the future Americans!
This is a financial fraud because the future Americans do not have an infinite amount of money!
As of October 22, 2019, USAPonzi is a $126.4 Trillion financial fraud!
The senior members of the U.S. Government are common criminals because they are direct and significant financial beneficiaries of this massive Ponzi scheme/accounting fraud!
The U.S. Government has been operating “The Great American Fraud” for the last 50 years!
The apparent wealth and prosperity in America has been produced by “The Great American Fraud”! The U.S. Government has fraudulently created wealth and prosperity in America by fraudulently borrowing money, so far $126.4 Trillion, from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!
|Cash Deficit in FY2020
|GAAP Deficit in FY2020
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org October 22, 2019
This accounting fraud (USAPonzi) and the impact it is having on Planet Earth is explained in more detail on my websites (www.usaponzi.net and www.usaponzi.com) and in my fifth book on USAPonzi (USAPonziB) which is available on Amazon.
John W White