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 #2 to the U.S. Supreme Court!
September 2, 2016


The following letter was sent to each member of the U.S. Supreme Court by Certified Mail on September 2, 2016.


September 1, 2016  

                                                    Whistleblower Letter #2 to
    
The Supreme Court of the United States of America


To: Chief Justice John G. Roberts, Jr.

      Associate Justice Anthony M. Kennedy
      Associate Justice Clarence Thomas
      Associate Justice Samuel Anthony Alito, Jr.
      Associate Justice Sonia Sotomayor
      Associate Justice Elena Kagan
      Associate Justice Ruth Bader Ginsburg
      Associate Justice Stephen G. Breyer


     Supreme Court of the United States of America 
     1 First St NE

     Washington, DC 20543


The U.S. Government is perpetrating a $103.3 Trillion criminal fraud by operating with Cash Accounting rather than the proper GAAP Accounting!


Because of the absurd, distorted, corrupt, and fraudulent fiscal policy of the U.S. Government that has produced $103.3 Trillion of imaginary-counterfeit money, we now pay firemen ($44K), policemen ($53K), teachers ($55K), football players ($millions), basketball players ($millions), Michael Jordan ($1Billion), and Tiger Woods ($1Billion). This dramatic disparity in compensation clearly show where our priorities lie. The U.S. Government has fraudulently borrowed $103.3 Trillion from the future Americans to create this distortion and produce what will be a financial and economic catastrophe of epic proportions.


This fraud has given the U.S. upper class $103.3 Trillion because they have been undertaxed by $103.3 Trillion!


This fraud has made many of the senior officials in the U.S. Government very wealthy because they are overpaid and are members of the U.S. upper class!


This fraud has underfunded the future benefit promises of the U.S. Government by $83.9 Trillion!


This fraud is a Ponzi scheme that is causing real earned income in the United States to converge to ZERO! This is happening because fewer and fewer people are entering/staying in the work force because collecting these unaffordable and unfunded government benefits provides more income than working.


This fraud is a Ponzi scheme that is causing the apparent wealth of the U.S. upper class to asymptotically approach INFINITY!


This fraud is borrowing an exponentially increasing supply of imaginary-counterfeit money from future Americans and giving it to current Americans and the U.S. upper class gets most of the benefit.


Because the U.S. ruling class and the U.S. upper class are either being overpaid or acquiring significant personal wealth because of this fraud, no one in either of these classes is prepared to expose this fraud.


Each of you are being overpaid because of this fraud but you have an ethical and legal responsibility to expose this fiscal and accounting fraud that is being perpetrated by the U.S. Government.


Will the U.S. Supreme Court fulfill its responsibility to seek justice for all and expose this $103.3 Trillion U.S. Government fraud?


The fiscal policy of the U.S. Government is corrupt and fraudulent. This fiscal policy is a classic Ponzi scheme that I have named USAPonzi. This Ponzi scheme is produced because the U.S. Government is using Cash Accounting rather than the proper GAAP Accounting (Generally Accepted Accounting Principles). As a result, the U.S. Government is operating with a dramatically unbalanced budget as shown by the GAAP Deficit in FY2016 of $5.72 Trillion in the following table.

 

National Debt 
$19.4 Trillion 
Cash Deficit in FY2016 
$0.58 Trillion 
GAAP Deficit in FY2016 
$5.72 Trillion 
Unfunded Future Liabilities 
$83.9 Trillion 
US Unfunded Liabilities (GAAP) 
 $103.3 Trillion 
Imaginary-Counterfeit Money 
$103.3 Trillion 

             Source: www.usdebtclock.org September 1, 2016


Because the U.S. Government is not operating with GAAP Accounting, it is not assessing and collecting sufficient tax revenue to adequately fund the future liabilities for the veteran benefits, pensions, and social benefits promises that the U.S. Government has made. These Unfunded Future Liabilities now total $83.9 Trillion as of September 1, 2016 according to the www.usdebtclock.org website. In addition, Cash Accounting appropriately reports our cumulative Cash Deficit spending as our National Debt of $19.4 Trillion yielding total US Unfunded Liabilities (GAAP) of $103.3 Trillion. (US Unfunded Liabilities (GAAP) = National Debt + Unfunded Future Liabilities).


By undertaxing the current Americans by $103.3 Trillion, the U.S. Government has introduced $103.3 Trillion of what I call imaginary-counterfeit money into the global economy and financial system with this unreported, but real, GAAP basis deficit spending. The U.S. Government has borrowed $103.3 Trillion from the future Americans and given it to the current Americans. The U.S. Government has given current Americans $103.3 Trillion of spending money that I call imaginary-counterfeit money because the U.S. Government imagines that the future U.S. taxpayers can pay these public liabilities making this imaginary money but the future U.S. taxpayers cannot pay these public liabilities making this counterfeit money. The Theory of Imaginary Money is explained in Chapter 2 of my book "USAPonzi" which is available on Amazon and on my website www.usaponzi.com.


The U.S. Government is borrowing this imaginary-counterfeit money (fake money, monopoly money) from the future Americans and giving it to the current Americans. This is a classic Ponzi scheme. The current Americans, as a group, appear to be getting rich with this borrowed imaginary-counterfeit money, now $103.3 Trillion, and they are able to buy things they cannot afford from each other and from the rest of the planet with this imaginary-counterfeit money. This is a criminal fraud! Americans cannot pay for most of the things that they are buying because they are using money that has been borrowed from the future Americans and the future Americans cannot pay the resulting deferred public liabilities.


This is a $103.3 Trillion criminal fraud being perpetrated by the Government of the United States of America.


The U.S. Government is borrowing money from the future U.S. taxpayers so that it can overpay U.S. Government workers and related businesses, so that it can overpay the social benefit recipients, and so that it can undertax the current U.S. taxpayers. But this money can never be paid back! This is criminal fraud!


The U.S. Government has committed a $103.3 Trillion crime. The senior officials in the U.S. Government are criminals and as I said in my first of twelve whistleblower letters to the U.S. Securities and Exchange Commission dated January 8, 2014:


"I contend that every Member of Congress and every senior member of the Administration should be indicted on fraud and corruption charges if they vote for or support any financial budget that is based on our current Cash Accounting methodology."


Because of this fraud, the U.S. ruling class gets overpaid.


Because of this fraud, the current social benefit recipients get overpaid.


Because of this fraud, the Common Man and the under privileged get cheated because the U.S. Government is not funding future benefit promises.


Because of this fraud, the U.S. upper class gets filthy rich because they have been undertaxed by $103.3 Trillion.


Because of this fraud, the rest of the planet gets cheated because most of the purchases made by current Americans are being made with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans.


Until the U.S. Government starts using an honest accounting system, this massive fraud and its associated distortions will continue to favor Americans, cheat the Common Man, enrich the U.S. ruling class, colossally enrich the U.S. upper class, and cheat the rest of the planet.


This is a criminal fraud of epic proportions with global implications. The senior officials in the U.S. Government are approving the fiscal policy and budgeting process that authorizes this fraud and they are direct financial beneficiaries of this fraud making this a criminal fraud and the senior officials of the U.S. Government criminals.


The U.S. Government is knowingly and willingly making financial commitments that it cannot possibly keep.


It is imperative that all national governments be required to use Accrual (GAAP or equivalent) Accounting so that financial transactions conducted between countries can be trusted and so that financial commitments made to the citizenry by central governments can be trusted. Because of this fraud, the United States of America is not a trusted party in the global economy.


This Ponzi scheme has significantly favored Americans and within America has dramatically favored the U.S. ruling class and has colossally favored the U.S. upper class. A windfall gift to the U.S. upper class of $103.3 Trillion of imaginary-counterfeit money (over the last 47 years) has to be considered colossal favoritism.


This Ponzi scheme fiscal policy has also dramatically and artificially stimulated the U.S. and global economy with this 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". This imaginary-counterfeit money will evaporate when USAPonzi implodes causing most banks to fail because most of the money in our banks is imaginary-counterfeit money.


USAPonzi is deferring massive and ever increasing liabilities to the future taxpayers to dramatically and artificially improve the lifestyle of current Americans and to dramatically and artificially increase the wealth of the U.S. upper class with imaginary-counterfeit money borrowed from future Americans.


USAPonzi, if it is allowed to continue, will simply transfer an infinite amount of imaginary-counterfeit money from the future U.S. taxpayers to the U.S. upper class while devastating future Americans and cheating the rest of the planet!


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 throughout the planet, the U.S. Government must eliminate this fraud and corruption.


You can learn more about this fraud/Ponzi scheme by reading my website www.usaponzi.com or better yet by reading my book "USAPonzi" which is available on Amazon and also on my website in PDF format.


In my first whistleblower letter to the U.S. Supreme Court dated May 27, 2016, I sent each of you a paperback copy of this book and I am enclosing a CliffsNotes version of this book with this second whistleblower letter.


This is the biggest ($103.3 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet"!


John W. White
Plano, TX
jwwhite38@outlook.com