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

Whistleblower Letter #1 to the United Nations 191203
December 3, 2019
Emailed to Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/DMN, and Dallas Mayor Eric Johnson on 12/3/19.


The following Whistleblower Letter was sent to the Secretary-General of the United Nations on December 3, 2019 to inform the United Nations that the U.S. Government is committing a fiscal and accounting fraud that has fraudulently elevated the status of America financially, economically, politically, and militarily relative to the rest of the planet and is causing global warming that is destroying planet earth!


Whistleblower Letter #1 to the United Nations as mailed on Dec 3, 2019



Whistleblower Letter #1 to the United Nations

December 3, 2019


     To: Antonio Guterres
           Secretary-General of the United Nations
           405 East 42nd Street
           New York, NY 10017 USA

From: John W White
           2804 Fenwick Lane
           Plano, Tx


I am a whistleblower! The U.S. Government is corrupt!


The U.S. Government is committing a fiscal and accounting fraud that is in the process of printing an infinite amount of counterfeit money and giving it to the U.S. upper class! This accounting fraud has elevated the status of America financially, economically, politically, and militarily relative to the rest of the planet, is enriching the U.S. upper class, is cheating the rest of the planet, is causing global warming, and is destroying planet earth!


The U.S. Government is not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting) and as a result is operating a classic Ponzi scheme that is in the process of fraudulently borrowing an infinite amount of money from the future Americans and giving it to the U.S. upper class by undertaxing them!


By not operating its fiscal policy with proper GAAP Accounting, the U.S. Government has undertaxed the U.S. upper class by $127.0 Trillion (US Unfunded Liabilities (GAAP)) and has fraudulently deferred $127.0 Trillion of public liabilities to the future Americans! The U.S. Government is promising future benefits to the U.S. general public but is not accruing the money to pay these future benefits! This is a $127.0 Trillion fraud!


The United Nations must require that all countries that sponsor a currency that is used for international trade, operate their fiscal policies with accrual accounting, commonly called GAAP Accounting in the United States of America, in order to provide a level economic and financial playing field throughout the planet!


The U.S. Government has fraudulently borrowed $127.0 Trillion from the future Americans and given it to the U.S. upper class (US Unfunded Liabilities (GAAP) = $127.0 Trillion) by undertaxing them! The U.S. Government is corrupt!


Author's note:
This whistleblower letter can be read from my www.usaponzi.com website to activate the hyperlinks.
(http://usaponzi.com/whistleblower-letter--1-to-united-nations-191203.html).


This letter to the United Nations is intended to expose “USAPonzi: The Great American Fraud”
! The U.S. Government is committing a fiscal and accounting fraud to dramatically elevate the status of America relative to the rest of the planet and to dramatically elevate the status of the U.S. upper class relative to the U.S. general public!


The U.S. Government is
printing infinite counterfeit money! So far $127.0 Trillion!
The U.S. Government is causing Global Warming!
The U.S. Government is destroying Planet Earth!


The U.S. Government is paying benefits to the U.S. general public but is not properly taxing the U.S. upper class to pay for these benefits!


The U.S. Government is committing a fiscal and accounting fraud by not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting) which has produced a classic Ponzi scheme, I call it USAPonzi, that is in the process of borrowing an infinite stream of money, I call it imaginary-counterfeit money, from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class so the entire planet can build and buy an infinite stream of environment-polluting physical objects that are causing Global Warming which is destroying Planet Earth!


The U.S. Government is printing an infinite stream of imaginary-counterfeit money by borrowing it from the future Americans with GAAP basis deficit spending and giving it to the U.S. upper class by undertaxing them!


The U.S. Government has already fraudulently borrowed $127.0 Trillion (US Unfunded Liabilities (GAAP)) of imaginary-counterfeit money from the future Americans and given it to the U.S. upper class by undertaxing them!


The U.S. Government is fraudulently borrowing another $16.8 Billion of imaginary-counterfeit money every day from the future Americans and giving it to the U.S. upper class (GAAP Deficit in FY2020 = $6.13T/365 days = $16.8B/day)!


The U.S. Government is printing infinite counterfeit money!


The U.S. Government is enriching the U.S. upper class!


The U.S. Government is enriching the U.S. ruling class!


The U.S. Government is cheating the U.S. general public!


The U.S. Government is cheating the rest of the planet!


The U.S. Government is causing wealth and income inequality!


The U.S. Government is causing social injustice!


The U.S. Government is causing Global Warming!


The U.S. Government is destroying Planet Earth!


The U.S. Government is causing the Death of Planet Earth!


The U.S. Government is being run by common criminals!


This fiscal and accounting fraud by the U.S. Government is a criminal act by the U.S. Government and each senior member of the U.S. Government is a common criminal because they are direct financial beneficiaries of this massive ($127.0 Trillion) accounting fraud!


The following table summarizes the U.S. Government financial condition as of December 3, 2019.

 

National Debt 
$23.1 Trillion 
US Federal Tax Revenue  $3.50 Trillion 
US Federal Spending (Cash)  $4.53 Trillion 
Cash Deficit in FY2020 
$1.03 Trillion 
US Federal Spending (GAAP)  $9.63 Trillion 
GAAP Deficit in FY2020 
$6.13 Trillion 
US Unfunded Future Liabilities 
$103.9 Trillion 
US Unfunded Liabilities (GAAP) 
 $127.0 Trillion 
Imaginary-Counterfeit Money 
$127.0 Trillion 
Total National Assets  $148.4 Trillion 

Source: www.usdebtclock.org December 3, 2019


Because the U.S. Government is not operating its fiscal policy with GAAP Accounting, it is not assessing and collecting sufficient tax revenue to adequately fund the future liabilities for veteran benefits, pensions, and social benefit promises that the U.S. Government has made to the U.S. general public! These US Unfunded Future Liabilities now total $103.9 Trillion!


On a Cash basis, the U.S. Government is spending 1.29X its income ($4.53T/$3.50T = 1.294)!


On a GAAP basis, the U.S. Government is spending 2.75X its income ($9.63T/$3.50T = 2.751)!


This is why the U.S. Government now has $127.0 Trillion of US Unfunded Liabilities (GAAP); the U.S. Government is spending, on a GAAP basis2.75 times as much as it is collecting in US Federal Tax Revenue!


And to make matters even worse, most of the $3.50 Trillion of US Federal Tax Revenue is imaginary-counterfeit money that comes from income taxes and capital gains taxes from economic activity generated by $127.0 Trillion of imaginary-counterfeit money!


This Ponzi scheme has accumulated total US Unfunded Liabilities (GAAP), including the National Debt ($23.0 Trillion), of $127.0 Trillion and has introduced an equivalent amount of imaginary-counterfeit money into the global economy and financial system with this unreported but real GAAP basis deficit spending!


GAAP basis deficit spending
by the U.S. Government digitally prints imaginary-counterfeit money and gives it to the U.S. upper class by undertaxing them! The U.S. Government is fraudulently borrowing money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class! I call this money, imaginary-counterfeit money, because this money does not exist (imaginary) and has no value (counterfeit) because the future Americans can never pay it!


This Ponzi scheme has significantly favored all Americans and within America has dramatically favored the U.S. ruling class and has colossally favored the U.S. upper class! A windfall gift of $127.0 Trillion of imaginary-counterfeit money (over the last 50 years) has to be considered colossal favoritism of the U.S. upper class!


This Ponzi scheme fiscal policy has also dramatically and artificially stimulated the U.S. and global economy with this massive GAAP basis deficit spending! The implosion of USAPonzi will cause a dramatic discontinuity in the global economy that will lead to a Global Depression that could be even more severe than “The Great Depression”! My analysis indicates that the current U.S. Total Financial Leverage (U.S. Total Liabilities as a percent of GDP) is 4.3X what it was in 1929 just prior to the start of “The Great Depression”!


USAPonzi
, if allowed to continue, will transfer an infinite amount of imaginary-counterfeit money from the future Americans to the U.S. upper class while devastating the U.S. general public and all future Americans!


The U.S. general public cannot possibly compete with the U.S. upper class in the fantasy USAPonzi economy on a relatively fixed hourly/weekly/monthly income when the U.S. upper class is being given an unending and ever-increasing (infinite) amount of imaginary-counterfeit money by fraudulently borrowing it from future Americans!


Because this accounting fraud is in the process of printing an infinite amount of imaginary-counterfeit money, the entire planet is in the process of building, buying, renting, and operating an infinite number of environment-polluting physical objects which is causing Global Warming that is in the process of destroying Planet Earth!


The U.S. Government has been running this Ponzi scheme since FY1969 when Lyndon Baines Johnson proposed, and the U.S. Congress approved the Unified Budget and as a result the U.S. Government has been warming up Planet Earth for the last 50 years!


The following National Aeronautics and Space Administration chart shows that the global average temperature started to rise in 1969 the year that the U.S. Congress approved the Unified Budget that launched USAPonzi!



This imaginary-counterfeit money, currently $127.0 Trillion, will evaporate into the “thin air” from whence it came when USAPonzi implodes!


This accounting fraud can only be equitably eliminated by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government!


You can learn more about this fraud/Ponzi scheme by reading my websites www.usaponzi.net and www.usaponzi.com or better yet by reading my sixth book on USAPonzi “USAPonziC which is available on Amazon.


This is the biggest ($127.0 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Great American Fraud and “The Biggest Ponzi Scheme on the Planet”!


John W. White
Plano, TX