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

Whistleblower Email #1 to Fed Chairman 190104
January 4, 2019


On January 4, 2019 I sent the following email to Jay Powell Chairman of the Federal Reserve to inform him that the U.S. Government is committing a fiscal and accounting fraud. I sent this whistleblower email to Chairman Powell because I am convinced that the Federal Reserve Board is unaware of this U.S. Government accounting fraud that is in the process of printing an infinite amount of counterfeit money by fraudulently borrowing it from the future Americans!


The Federal Reserve Board does not realize the U.S. upper class has been fraudulently given $121.9 Trillion by deferring $121.9 Trillion of public liabilities to the future Americans! This money gained by the U.S. upper class is counterfeit money because the future Americans do not have $121.9 Trillion!


Copy of actual email


URGENT MESSAGE to Jay Powell-Fed Chairman


My name is John W White and I would like to inform you of a very serious problem that we have with our global financial system and our global economy!


I strongly urge you to take this warning very seriously!


The U.S. Government is committing fiscal and accounting fraud by operating its fiscal policy with Cash Accounting rather than proper GAAP Accounting!


This has made the U.S. Government's fiscal policy a classic Ponzi scheme that is fraudulently borrowing money from the future Americans and giving it to the U.S. upper class. So far this fraud has printed $121.9 Trillion of counterfeit money and given it to the U.S. upper class and is printing $16.7 Billion more every day with GAAP basis deficit spending of $6.08 Trillion in FY2019.


This fraud was started in FY1969 when LBJ introduced the Unified Budget but did not switch the U.S. Government accounting system from Cash Accounting to GAAP Accounting to start properly accruing for future U.S. Government benefit promises!


I have written two websites (USAponzi.net and USAPonzi.com) and four books (USAPonzi, USAPonzi2, USAPonzi3, and USAPonziA) that attempt to explain and expose this accounting fraud!


This fraud is not only distorting the global economy and global financial system, it is causing Global Warming which is in the process of Destroying Planet Earth!


This accounting fraud is in the process of printing an infinite amount of counterfeit money which lets us buy, build, and operate an infinite number of environment-polluting physical objects (cars, planes, boats, houses, buildings, guns, bombs, etc)!


I have written 14 whistleblower letters to the SEC, a whistleblower letter to every member of Congress, 9 whistleblower letters to the Supreme Court, and over 300 Op-Eds to the NYT, WSJ, WP, and Dallas Morning News in an attempt to expose this fraud but have only gotten minimal response to these warnings.


The following document is an Op-Ed that I have prepared to explain and expose this Ponzi scheme, I call it USAPonzi, to US general public! But before I take that action I wanted to inform the Fed of this problem.


Destroying Planet Earth
January 3, 2019


The U.S. Government is corrupt!


This is an “Open Letter to Planet Earth” that explains how 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 has fraudulently borrowed $121.9 Trillion from the future Americans and given it to the U.S. upper class!


This accounting fraud is in the process of Destroying Planet Earth!


This accounting fraud is in the process of printing an infinite amount of counterfeit money that the planet is using to buy, build, rent, and operate an infinite number of environment-polluting physical objects which is causing Global Warming that is Destroying Planet Earth!


I am writing this letter with the hope of Saving Planet Earth!


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)!


Because the U.S. Government is not using the proper accounting system, the U.S. Government is promising future benefits to the U.S. general public but is not taxing the U.S. upper class enough to pay for these promises! The U.S. Government is not using accrual accounting, called GAAP Accounting in America, which would properly accrue the money to pay future U.S. Government benefits!


Because of this accounting fraud, the U.S. upper class is getting rich and the U.S. general public is getting cheated! So far, the U.S. upper class has been given $121.9 Trillion (Unfunded Liabilities (GAAP)), the U.S. ruling class has been overpaid by $21.9 Trillion (National Debt), and the U.S. general public has been cheated by $100.0 Trillion (Unfunded Future Liabilities)!


Because the U.S. upper class is being undertaxed by $121.9 Trillion, the future Americans are now on the hook to pay $121.9 Trillion of deferred public liabilities which can never be paid! The U.S. Government is in the process of borrowing an infinite amount of money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!


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 and giving it to the U.S. upper class!


This accounting fraud is creating an infinite amount of imaginary-counterfeit money out of “thin air” that the planet is using to fill Planet Earth with cars, airplanes, boats, tall buildings, big houses, banks, restaurants, factories, chemical plants, oil wells, smartphones, guns, bombs, etc. etc. that are being bought, built, rented, and operated with imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans!


This is why traffic is getting so bad; this accounting fraud is in the process of filling up Planet Earth with an infinite number of cars! We are in the process of buying and building an infinite number of everything with imaginary-counterfeit money that is being fraudulently borrowed from the future Americans!


This accounting fraud is Destroying Planet Earth because it is causing Global Warming by fraudulently borrowing an infinite amount of imaginary-counterfeit money from the future Americans so the current Americans, and people all over the planet, can buy, build, and operate an infinite number of environment-polluting physical objects!


The United States of America must stay in the Paris Climate Agreement and admit to the planet that U.S. Government accounting fraud is the primary cause of Global Warming!


This accounting fraud is also Destroying Social Justice on Planet Earth because it colossally enriching the upper class and colossally cheating the general public all over Planet Earth!


I contend that this accounting fraud is what has caused the rise of populism all over the planet and is what caused a scoundrel, Donald J. Trump, to be elected President of the United States of America! The U.S. general public is rebelling against the corrupt and criminal U.S. Government with the only effective peaceful tool they have; the ballot box!


A Democrat scoundrel, Lyndon Baines Johnson, started this fraud with the Unified Budget in FY1969 and now the election of a Republican scoundrel, Donald J. Trump, in 2016 will likely expose this fraud!


The U.S. Government is lying to and cheating the U.S. general public by promising them future benefits that it is not funding so that it can give infinite imaginary-counterfeit wealth to the U.S. upper class!


This accounting fraud is causing the Wealth and Income Gap by giving the U.S. upper class an infinite amount of imaginary-counterfeit money! So far, this accounting fraud has given the U.S. upper class $121.9 Trillion and is giving them $16.7 Billion more every day with GAAP basis deficit spending!
The U.S. Government GAAP basis deficit in FY2019 is estimated to be $6.08 Trillion!


This accounting fraud is overpaying the U.S. ruling class, enriching the U.S. upper class, cheating the U.S. general public, and cheating the rest of the planet because Americans are buying stuff from the rest of the planet with imaginary-counterfeit money that has been fraudulently borrowed from the future Americans!


As an example, Americans are buying an unending and ever-increasing amount of stuff from Amazon without paying even one plugged nickel of earned income! We are buying stuff from Amazon with an unending and ever-increasing amount of imaginary-counterfeit money that the U.S. Government is fraudulently and continuously borrowing from the future Americans! Amazon is an imaginary-counterfeit company created by U.S. Government accounting fraud! Amazon, as we currently know it, will go out of business when this accounting fraud is exposed!


This U.S. Government accounting fraud is making the U.S. upper class richer and richer, is making the stock market go higher and higher, and is making the U.S. economy stronger and stronger by borrowing an unending and ever-increasing amount of imaginary-counterfeit money from the future Americans and giving it to the U.S. upper class by undertaxing them!


The U.S. Government likes the U.S. upper class a lot more than it likes the U.S. general public! The U.S. upper class pays bigger bribes and makes bigger campaign contributions than the U.S. general public! The U.S. upper class has lots of money to pay bribes and make campaign contributions because the corrupt and criminal U.S. Government has fraudulently given the U.S. upper class $121.9 Trillion of imaginary-counterfeit money!


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 the planet!


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 ($121.9 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.


Financial data sourced from www.usdebtclock.org as of January 3, 2019.


John W White
Plano, TX