The Oil Price Bubble!
July 20, 2016
We are buying our oil and gas with imaginary-counterfeit money that the U.S. Government has borrowed/stolen from the future U.S. taxpayers.
|Cash Deficit in 2016
|GAAP Deficit in 2016
|Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Jul 20, 2016
The U.S. Government is corrupt! The U.S. Government is committing fiscal and accounting fraud! The U.S. Government is running a massive Ponzi scheme which I have named USAPonzi! This Ponzi scheme was created by the U.S. Government using Cash Accounting rather than the proper GAAP Accounting!
The U.S. Government has deferred $102.9 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future U.S. taxpayers! USAPonzi has made the U.S. upper class filthy rich by being undertaxed by $102.9 Trillion! USAPonzi has created the wealth and income gap. $102.9 Trillion can create a massive wealth and income gap! The U.S. Government has given Americans $102.9 Trillion of imaginary-counterfeit money to spend (See The Theory of Imaginary Money)! The U.S. Government creates $15.7 Billion more imaginary-counterfeit money every day (GAAP Deficit $5.74T/365 = $15.7B)!
We are buying almost all of our gas and oil with the imaginary-counterfeit money created by U.S. Government fraud. $102.9 Trillion can buy a lot of stuff and it is buying most of our oil and gas. This fraud has made some countries in the Middle East appear to be very wealthy. This fraud has created The Skyscraper Bubble. This fraud has caused the price of oil to continue to escalate. This fraud has even made it appear to be profitable to produce oil in the U.S.
I predict that the price of oil will drop to single digits when USAPonzi implodes.
$102.9 Trillion of imaginary-counterfeit money can buy a lot of oil and gas! Most people in the U.S. will not be able to afford gas when USAPonzi implodes.
I have tried to encourage the U.S. Government to address this U.S. Government fraud by sending 12 Whistleblower letters to the SEC and a Whistleblower letter to each member of Congress and to each member of the Supreme Court (these letters are posted on my website www.usaponzi.com).
This problem can only be equitably resolved by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government.
This change will be very, very traumatic for the entire planet. This imaginary-counterfeit money, currently $102.9 Trillion, will evaporate into the "thin air" from whence it came when USAPonzi implodes (See The Implosion of USAPonzi).
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 dramatically enhance the lifestyle of current Americans (See Getting Rich on Borrowed Money)!
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.
This is the biggest ($102.9 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet".