The Magic Imaginary-Counterfeit Money Spigot!
The privileged classes in America gain the most from this fraud.
June 28, 2016
The U.S. Government has created a magic imaginary-counterfeit money spigot! The U.S. Government has determined that if they use a corrupt and fraudulent accounting system and fiscal policy they can borrow/steal an infinite amount of money from the future U.S. taxpayers and not have to immediately tell the U.S. citizenry and the rest of the Planet. The U.S. Government does this with GAAP basis deficit spending that defers public liabilities to the future U.S. taxpayers while only reporting its Cash basis deficit spending.
The U.S. Government is doing just what Bernie Madoff and Enron did; they are committing financial fraud so that they can run a massive Ponzi scheme (USAPonzi) which overpays themselves, overpays the social benefit recipients, and dramatically enriches the U.S. upper class. The U.S. Government does this with money that it is "borrowing" from the future U.S. taxpayers. This is imaginary money. This money does not exist. The U.S. Government just imagines that they will get this tax revenue some day. This is counterfeit money because the future U.S. taxpayers cannot pay these deferred public liabilities (See The Theory of Imaginary Money).
This fraud has overpaid the U.S. Government workers by $19.3 Trillion. This fraud has given the U.S. upper class $102.6 Trillion by undertaxing them. This fraud has paid the social benefit recipients more than the U.S. taxpayer can afford.
We, as a country and a planet, are living dramatically beyond our means because of this fraud. The U.S. Government is promising to pay social benefits that it has no intention or ability to pay in the future. The U.S. Government is stealing the tax revenue that the U.S. taxpayers are paying to the U.S. Government to fund future social benefit promises so that it can enhance the lifestyle of U.S. Government workers. The U.S. Government is also not taxing the U.S. upper class as required to fully support the future social benefit promises so that they can dramatically enhance the wealth of the U.S. upper class.
The U.S. Government has used this magic imaginary-counterfeit money spigot to give $102.6 Trillion to the U.S. upper class. That is why there is a huge wealth and income gap between the "haves" and the "havenots"! $102.6 Trillion is a hell of a lot of money that the U.S. Government has given to the U.S. upper class over the last 47 years, while the working class folks have continued to get paid at nominally the same inflation adjusted rate over that same time period. And the amount of money the U.S. Government is giving to the privileged class Americans continues to expand exponentially.
The U.S. Government is running this massive ($102.6 Trillion) Ponzi Scheme (USAPonzi) by simply deferring public liabilities to the future U.S. taxpayers.
The U.S. Government has borrowed/stolen $102.6 Trillion of imaginary-counterfeit money from the future U.S. taxpayers and given it to the U.S. upper class.
What makes this a fraud is the fact that the future U.S. taxpayers cannot pay this $102.6 Trillion of deferred public liabilities. This imaginary-counterfeit money will evaporate when USAPonzi implodes.
The economic prosperity and wealth of the United States of America, and in fact the entire planet, is just an illusion created by a corrupt U.S. Government.
USAPonzi is explained in much more detail on my website www.usaponzi.com and in my book "USAPonzi" which is available on Amazon in Kindle and paperback format and on www.usaponzi.com in PDF format.
|Cash Deficit in FY2016
|GAAP Deficit in FY2016
|Unfunded Future Liabilities
|| $83.3 Trillion
|US Unfunded Liabilities (GAAP)
|| $102.6 Trillion
|Total National Assets
Source: www.usdebtclock.org June 28, 2016
In order to create a level economic playing field that is sustainable over time and equitable throughout the planet, the U.S. Government must eliminate this fraud and corruption. The U.S. Government must stop cheating the future Americans and the rest of the planet just so it can enhance the lifestyle of current Americans!
This is the biggest ($102.6 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet"!