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 Lawrence Summers 190507
May 7, 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 5/8/19


Lawrence H. Summers is the Charles W. Eliot University Professor and President Emeritus at Harvard University. He served as the 71st Secretary of the Treasury for President Clinton and the Director of the National Economic Council for President Obama!


I sent the following email to Dr. Summers on May 7, 2019 to inform him of the massive accounting fraud that is being perpetrated by the U.S. Government!


US and Global Economy is being propped up with US Government Accounting Fraud
John White

Tue 5/7/2019 5:40 PM

To: Lawrence H Summers <lhs@lawrencesummers.com>; John White <jwwhite38@outlook.com>; Jay Powell <frboard-publicaffairs@frb.gov>; michael.kuperberg@usgcrp.gov <michael.kuperberg@usgcrp.gov>


Dr. Summers


My name is John W White, and I am a retired information technology executive! I have been studying and writing about a US Government accounting fraud for the last six years!


I am writing to expose why the U.S. economy is continuing to show strength even with several trade, economic, and geo-political concerns!


This is caused by US Government fiscal and accounting fraud!


The U.S. Government is operating its fiscal policy with Cash Accounting rather than proper GAAP Accounting! As a result, the U.S. Government is not accruing the money to pay future US Government benefits.


This means that the U.S. Government is fraudulently borrowing money from the future Americans and giving it to the US upper class! This has been happening for the last 49 years since LBJ proposed and the 90th Congress approved the Unified Budget.


In FY1969, when the Unified Budget went into effect, the U.S. Government stopped taxing the US upper class to pay for these future benefits! The US Government has deferred $123.8 Trillion of public liabilities to the future Americans and undertaxed the US upper class by $123.8 Trillion which has produced $123.8 Trillion of counterfeit money!


That is why the US upper class is getting rich and why the rest of the Americans are getting cheated. That is why we have a wealth and income gap! The U.S. Government has fraudulently given the US upper class $123.8 Trillion!


That is why Jeff Bezos is now worth $160 Billion. The U.S. Government has printed $123.8 Trillion of counterfeit money so Americans can buy a lot of stuff from Amazon without having to pay for it!


This accounting fraud has created millions of counterfeit millionaires and hundreds of counterfeit billionaires!


This accounting fraud has the effect of printing counterfeit money at the rate of the US Government GAAP basis deficit spending which is currently $6.11 Trillion in FY2019 or $16.7 Billion every day!


That is why the US economy appears to be strong in spite of the other issues that we face globally! The US Government has printed $123.8 Trillion of counterfeit money to stimulate the US and global economy!


The US Government is running a classic Ponzi scheme, I call it USAPonzi, that is printing counterfeit money so Americans can buy things without paying for them!


This Ponzi scheme is the cause of Global Warming; the US Government is in the process of printing an infinite amount of counterfeit money so the planet can build, buy, rent, and operate an infinite number of environment-polluting physical objects!


USAPonzi is in the process of building an infinite number of cars, trucks, boats, airplanes, houses, factories, oil wells, skyscrapers, airports, cities, etc. etc.! USAPonzi is causing Global Warming that is Destroying Planet Earth!


The following chart shows how global temperatures started to rise in 1969 when USAPonzi was launched!


 
My April 3, 2019 commentary to the Federal Reserve and the US Global Change Research Program provides a more detailed explanation of how this accounting fraud is causing Global Warming!


Climate Change and the Federal Reserve II


I have written two websites (USAPonzi.com and USAPonzi.net) and five books (the latest is USAPonziB which is available on Amazon) that explain this fraud and the impact it is having on Planet Earth!


The following is an open letter to planet earth that attempts to explain this fraud/Ponzi scheme.


I included my Open Letter to Planet Earth as of May 1, 2019 in this email to Dr. Summers.


John W. White
Plano, TX