USAPonzi Elevator Speech 11/2/16
November 2, 2016
The U.S. Government is Corrupt!
The U.S. Government has borrowed $104.0 Trillion from the future Americans and given it to the current Americans. This is fraud because the future Americans do not have $104.0 Trillion.
This U.S. Government fraud has created $104 Trillion out of "thin air" and given it to the current Americans. I call this fraudulently borrowed money "imaginary-counterfeit money".
All current Americans benefit from this fraudulent borrowing of $104.0 Trillion by the U.S. Government.
The U.S. Government is spending more than it is collecting in taxes, creating National Debt.
The U.S. Government is not adequately funding the future benefit promises that it has made to the Common Man, creating US Unfunded Future Liabilities.
The sum of our National Debt and our US Unfunded Future Liabilities is our US Unfunded Liabilities (GAAP) and that is the amount that the U.S. Government has fraudulently borrowed from the future Americans.
The U.S. Government is lining the pockets of the U.S. ruling class with this fraudulently borrowed money.
The U.S. Government is dramatically lining the pockets ($104.0 Trillion) of the U.S. upper class with this fraudulently borrowed money.
The U.S. Government is running a massive ($104.0 Trillion) Ponzi Scheme (USAPonzi) by deferring public liabilities of $104.0 Trillion to the future Americans.
Public liabilities produce private wealth. When the U.S. upper class does not have to pay $104.0 Trillion of taxes they gain $104.0 Trillion of private wealth.
The U.S. Government is making their rich friends even richer with this fraud and corruption.
The U.S. Government is using a fraudulent accounting system by using Cash Accounting rather than the proper GAAP (accrual) Accounting in an attempt to conceal the magnitude of this Ponzi scheme.
USAPonzi was launched in FY1969 by LBJ when he convinced Congress to adopt the "Unified Budget". The U.S. Government should have switched from Cash Accounting to GAAP Accounting when it adopted the "Unified Budget".
USAPonzi creates imaginary-counterfeit money with GAAP basis deficit spending; $104.0 Trillion as of November 2, 2016. Every dollar of GAAP basis deficit spending becomes an imaginary-counterfeit dollar in the global economy and financial system.
The U.S. Government is pretending to borrow this imaginary-counterfeit money from the future Americans by deferring public liabilities to them. The U.S. Government imagines that the future Americans will be able to pay these deferred public liabilities making this imaginary money. The future Americans cannot pay these deferred public liabilities making this counterfeit money.
The U.S. Government distributes this imaginary-counterfeit money by overpaying the Government workers, overpaying the social benefit recipients, and dramatically undertaxing the current Americans, primarily the U.S. upper class.
This imaginary-counterfeit money elevates the standard of living of all current Americans at the expense of future Americans and the rest of the planet.
USAPonzi creates an opulent lifestyle for the U.S. ruling class.
USAPonzi creates a super opulent lifestyle for the U.S. upper class.
USAPonzi has made the U.S. upper class, in fact the global upper class, appear to be very very rich with imaginary-counterfeit money. Americans, primarily the U.S. upper class, are appearing to get very very rich on borrowed money.
USAPonzi, this U.S. Government fraud, has given the U.S. upper class $104.0 Trillion of imaginary-counterfeit money.
USAPonzi has allowed Americans to buy, build, and consume more than 5X what they can afford by borrowing $104.0 Trillion of imaginary-counterfeit money from the future Americans.
USAPonzi has caused consumer and asset price inflation.
USAPonzi has created the Internet Bubble, the Housing Bubble, and the U.S. Government Spending Bubble.
USAPonzi has created bubbles in all asset classes: stocks, bonds, real estate, automobiles, smartphones, gold, art, oil, etc. etc. All of these bubbles are induced by the massive bubble of imaginary-counterfeit money ($104.0 Trillion) produced by the GAAP basis deficit spending of USAPonzi (See The Oswald Financial Bubble).
This imaginary-counterfeit money will evaporate when USAPonzi implodes.
The global economy will suffer a massive economic depression when USAPonzi implodes.
USAPonzi is explained 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
|US Unfunded Future Liabilities
|| $84.2 Trillion
|US Unfunded Liabilities (GAAP)
|| $104.0 Trillion
|Total National Assets
Source: www.usdebtclock.org Nov 2, 2016
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.
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 fraud has transfered $104.0 Trillion of imaginary-counterfeit money to the U.S. upper class.
This is the biggest ($104.0 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet"!