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

Trump: The First Imaginary Billionaire President!
January 20, 2017 Emailed to WSJ/NYT/DMN January 21, 2017


Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News".


Trump: The First Imaginary Billionaire President!
January 20, 2017


Donald J. Trump was inaugurated on January 20, 2017 as the 45th President of the United States of America. It has been widely reported that Donald Trump is the richest U.S. President in history. His net worth is estimated by Forbes magazine to be around $3.7 Billion so he appears to be the first billionaire to ever be elected president.


However, what most people do not realize is that most of Donald Trump's net worth is imaginary. Donald Trump, like all members of the U.S. upper class, has gained most of his wealth because the U.S. Government is corrupt. The U.S. Government is operating with a Ponzi scheme fiscal policy by using Cash Accounting rather than the proper GAAP Accounting. Because of this fraud, the U.S. Government has dramatically undertaxed the current Americans and deferred massive and unpayable public liabilities to the future Americans. The U.S. Government is committing fiscal and accounting fraud that has the effect of borrowing imaginary-counterfeit money from the future Americans and giving it to the current Americans.


Donald Trump is an imaginary billionaire because of this U.S. Government fiscal and accounting fraud that I call USAPonzi.


As of January 20, 2017, the U.S. Government has borrowed $104.9 Trillion from the future Americans and given it to the current Americans. I call this fraudulently borrowed money "imaginary-counterfeit money" because the U.S. Government "imagines" that the future Americans will be able to pay this $104.9 Trillion at some point in the future, so it is imaginary money but it is counterfeit money because the future Americans can never pay this $104.9 Trillion. Hence, the name I have given this fraudulently borrowed money is imaginary-counterfeit money.


The amount of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans is reported as US Unfunded Liabilities (GAAP) on www.usdebtclock.org as shown in the following table. The U.S. Government has fraudulently undertaxed the current Americans, primarily the U.S. upper class, creating $104.9 Trillion of imaginary-counterfeit money.

National Debt 
$20.0 Trillion 
Cash Deficit in FY2017  $0.59 Trillion 
GAAP Deficit in FY2017   $5.64 Trillion 
US Unfunded Future Liabilities  $84.9 Trillion 
US Unfunded Liabilities (GAAP)   $104.9 Trillion 
Imaginary-Counterfeit Money  $104.9 Trillion 
Total National Assets  $127.4 Trillion

Source: www.usdebtclock.org January 20, 2017


Donald J. Trump has appeared to get very, very rich because the U.S. Government is committing fiscal and accounting fraud to produce most of Donald Trump's wealth simply by undertaxing him and all other upper class Americans.


So how much of Donald Trump's wealth has been created by this fraud? In the above table, the total private net worth of all Americans is estimated, by the Federal Reserve Bank, to be (Total National Assets) $127.4 Trillion but $104.9 Trillion of that has been fraudulently borrowed from the future Americans with GAAP basis deficit spending. Therefore, 82% of total U.S. private net worth has been fraudulently borrowed from the future Americans ($104.9T/$127.4T = 0.82 or 82%). If one makes the reasonable assumption that Donald Trump's net worth is similar to U.S. total net worth on a pro rata basis, then $3.0 Billion of Trump's net worth is imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans (0.82*$3.7B = $3.03B).


The U.S. Government is issuing money (imaginary-counterfeit money) to the current Americans by deferring public liabilities to the future Americans. The U.S. upper class is Getting Rich from U.S. Government Fraud!


That means the Donald Trump is not a billionaire, he just appears to be a billionaire because the U.S. Government has fraudulently borrowed $104.9 Trillion of imaginary-counterfeit money from the future Americans to give to the current Americans. A reasonable estimate of Trump's "real net worth" would be $3.7B-$3.0B or about $700 Million. Don't get me wrong, Donald Trump is not hurting but he is not really as rich as he now appears to be because the U.S. Government is pulling an accounting trick to give a lot of imaginary-counterfeit money to the current Americans; $104.9 Trillion is a lot of money (see How Much Money is $2.5 Trillion).


Donald Trump appears to be a billionaire because the U.S. Government is committing fiscal and accounting fraud to artificially increase the wealth and prosperity of the current Americans by fraudulently borrowing imaginary-counterfeit money, currently $104.9 Trillion, from the future Americans.


The senior members of the U.S. Government are creating massive wealth for themselves and their U.S. upper class friends simply by assuming massive public liabilities for the U.S. Government.


Now one of the imaginary billionaires that has been created by this fraud has assumed the mantle of President of this corrupt U.S. Government!


Donald J. Trump is "The First Imaginary Billionaire President of the United States of America" however it is very likely that he not a "Real Billionaire".


The U.S. Government has created millions of imaginary millionaires and hundreds of imaginary billionaires by fraudulently borrowing $104.9 Trillion of imaginary-counterfeit money from the future Americans and using Cash Accounting to report its financial status in an attempt to conceal this fraud.


I have published a website www.usaponzi.net that I think better explains how this fraud works to create this massive global wealth and income gap and to create false wealth and prosperity for the current Americans.


This fraud is explained in CliffsNotes format (USAPonzi CliffsNotes) and is also 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 formats and on my www.usaponzi.net website in both Kindle and PDF formats.


This is the biggest ($104.9 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and it is “The Biggest Ponzi Scheme on the Planet”!


John W White
Plano, TX