The Biggest Ponzi Scheme on the Planet-The U.S. Government
"American Economic Exceptionalism Explained"                     USAPonzi                                      by John W. White   Mar 29, 2013

Trade, Wealth, Military, and Climate Imbalance
March 11, 2019
Emailed to WSJ/NYT/WP/DMN, the US SEC, Fed Chairman Jay Powell, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, and Dallas Mayor Mike Rawlings 3/11/19


President Trump is worried about the trade imbalance!


The U.S. general public is worried about the wealth and income imbalance!


Our enemies are worried about the military imbalance!


The “green folks” are worried about the climate imbalance!


All of these imbalances are caused by
U.S. Government accounting fraud!


The U.S. Government is committing a fiscal and accounting fraud by not using proper GAAP Accounting! The U.S. Government is fraudulently 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 printing counterfeit money and giving it to the U.S. upper class! The U.S. Government has already printed $123.0 Trillion of counterfeit money and given it to the U.S. upper class and is giving them $16.7 Billion more counterfeit money every day!


We have a trade imbalance because we are buying stuff with an ever-increasing (infinite) supply of counterfeit money!


We have a wealth and income imbalance between America and the rest of the planet because the U.S. Government is printing an ever-increasing (infinite) supply of counterfeit money and giving it to the current Americans!


We have a wealth and income imbalance within America because the U.S. upper class is getting most of this ever-increasing (infinite) supply of counterfeit money!


We have military imbalance/dominance because we are buying guns and bombs with this ever-increasing (infinite) supply of counterfeit money! America has more guns and bombs right now than anybody else because the U.S. Government is printing an infinite supply of counterfeit money to buy and build an infinite supply of guns and bombs!


We have climate imbalance because the U.S. Government is printing an unending and ever-increasing (infinite) supply of counterfeit money so that we can buy and build an unending and ever-increasing (infinite) number of environment-polluting physical objects


This U.S. Government accounting fraud is causing Global Warming that is Destroying Planet Earth!


The U.S. Government is committing a fiscal and accounting fraud that is causing the United States of America to appear to be the richest and most prosperous country on the planet! The U.S. Government is fraudulently and continuously 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 fiscal and accounting fraud by assessing and reporting its financial condition with Cash Accounting rather than proper GAAP Accounting (Generally Accepted Accounting Principles)!


The U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is fraudulently borrowing money, I call it imaginary-counterfeit money, from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!


GAAP basis deficit spending
by the U.S. Government digitally prints imaginary-counterfeit money and gives it to the U.S. upper class by undertaxing them! When the U.S. Government assumes public liabilities, the private sector gains private assets! The U.S. Government has fraudulently assumed $123.0 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) and the U.S. upper class has gained $123.0 Trillion of imaginary-counterfeit money!

 

National Debt   $22.1 Trillion  
Cash Deficit in FY2019   $0.85 Trillion  
GAAP Deficit in FY2019   $6.09 Trillion  
US Unfunded Future Liabilities   $100.9 Trillion  
US Unfunded Liabilities (GAAP)   $123.0 Trillion  
Imaginary-Counterfeit Money    $123.0 Trillion  
Total National Assets   $150.9 Trillion  

Source: www.usdebtclock.org March 11, 2019


The U.S. Government is reporting a Cash Deficit in FY2019 of $0.85 Trillion and public liabilities (National Debt) of $22.1 Trillion when proper GAAP Accounting reports a GAAP Deficit in FY2019 of $6.09 Trillion and public liabilities (US Unfunded Liabilities (GAAP)) of $123.0 Trillion!


Divergent vs. Convergent


Because the U.S. Government is not using the proper accounting system, the U.S. Government will assume an unending and ever-increasing (infinite) amount of public liabilities (US Unfunded Liabilities (GAAP))! This is the very nature of a Ponzi scheme; pay returns to the current investors in the scheme with money to be paid in by the late investors in the scheme!


In mathematical terms this is called a divergent system. Public liabilities are continuing to increase at an ever-increasing rate. The U.S. Government can never have a balanced budget because it has no mechanism in its fiscal policy to ever pay down its public liabilities. Therefore, public liabilities can never converge to zero and a balanced budget! Public liabilities will diverge to infinity!


And the worst part is, the U.S. Government is ignoring the largest element of its future public liabilities by operating its fiscal policy with Cash Accounting rather than proper GAAP Accounting! The U.S. Government is not accruing the money to pay for future benefit promises!


Because the U.S. Government budgeting process is a divergent system that will assume unending and ever-increasing public liabilities, the U.S. upper class appears to be gaining unending and ever-increasing wealth because they are being undertaxed!


The U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money and giving it to the U.S. upper class (See Printing Infinite Counterfeit Money)!


We have trade, wealth, military, and climate imbalances because the U.S. Government is operating its fiscal policy with fraudulent accounting that is printing imaginary-counterfeit money by borrowing money from the future Americans that the future Americans do not have!


GAAP Accounting
, properly applied, would prevent the U.S. Government from borrowing more money from the future Americans than the future Americans can be reasonably expected to pay!


The U.S. Government must adopt GAAP Accounting (Generally Accepted Accounting Principles) and commit to a balanced GAAP basis budget in order to eliminate this fiscal and accounting fraud and properly accrue for the future U.S. Government benefit promises that have been made to the U.S. general public!


The U.S. Government, and all sovereign entities that sponsor a currency that is used in international trade, must adopt GAAP Accounting, or its basic equivalent, to provide a level economic playing field in America and throughout Planet Earth!


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, USAPonzi2, USAPonzi3, and my latest USAPonziA.


This is the biggest ($123.0 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.


John W White
Plano, TX