USAPonzi Elevator Speech 7/22/16
July 22, 2016
The U.S. Government is Corrupt!
The U.S. Government is running a massive ($102.9 Trillion) Ponzi Scheme (USAPonzi) by derferring public liabilities to the future U.S. taxpayers.
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".
USAPonzi creates imaginary-counterfeit money with GAAP basis deficit spending; $102.9 Trillion as of July 22, 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 U.S. taxpayers by deferring public liabilities to them. The U.S. Government imagines that the future U.S. taxpayers will be able to pay these deferred public liabilities making this imaginary money. The future U.S. taxpayers 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 U.S. taxpayers, 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 $102.9 Trillion of imaginary-counterfeit money.
USAPonzi has allowed Americans to buy, build, and consume more than 5X what they can afford by borrowing $102.7 Trillion of imaginary-counterfeit money from the future U.S. taxpayers.
USAPonzi 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 ($102.9 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
|Unfunded Future Liabilities
|| $83.5 Trillion
|US Unfunded Liabilities (GAAP)
|| $102.9 Trillion
|Total National Assets
Source: www.usdebtclock.org July 22, 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 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"!