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 FBI-Chris Wray 190424
April 24, 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 4/24/19



The following Whistleblower Letter was mailed to FBI Director Christopher WraySteve Mnuchin, Jay Powell, and Donald Trump on April 24, 2019.


Whistleblower Letter #2 to FBI-Chris Wray
April 24, 2019


TO: Christopher Wray
       
Director-Federal Bureau of Investigation
       FBI Headquarters
       935 Pennsylvania Ave., NW
       Washington, D.C. 20535


CC: Steve Mnuchin
       Secretary of the Treasury
       Department of the Treasury
       1500 Pennsylvania Ave., NW
       Washington, D.C. 20220


CC: Jay Powell
        Chairman of the Federal Reserve
        Federal Reserve System
        20th Street and Constitution Ave., NW 
        Washington, D.C. 20551


CC: Donald Trump
       President of the United States of America
       The White House
       1600 Pennsylvania Ave., NW
       Washington, D.C. 20500


FR: John W. White
       2804 Fenwick Lane
       Plano, TX 75093


I am a whistleblower!


I am writing this whistleblower letter to the FBI to expose the biggest crime ever committed; a $123.6 Trillion crime by the Government of the United States of America!


The U.S. Government is printing counterfeit money and giving it to the U.S. upper class!


The U.S. Government has already printed $123.6 Trillion of counterfeit money and given it to the U.S. upper class!


Every day, the U.S. Government prints another $16.7 Billion of counterfeit money and gives it to the U.S. upper class!


The U.S. Government is committing a $123.6 Trillion fiscal and accounting fraud by promising and paying U.S. Government benefits to the U.S. general public but not properly funding future benefits! The U.S. Government is not operating its fiscal policy with proper accrual accounting, commonly called GAAP Accounting (Generally Accepted Accounting Principles)!


Author's Note: This letter can be most informatively read in digital format from my website www.usaponzi.com in order to gain immediate access to related content links.


I presented a Whistleblower charge of this $123.6 Trillion crime to the Frisco, TX office of the FBI on March 13, 2019!


I presented Whistleblower Letter #1 to FBI Director Christopher Wray by U.S. Mail on April 8, 2019 to expose this $123.6 Trillion crime!


The U.S. Government has fraudulently borrowed $123.6 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans, money the future Americans do not have, and given it to the U.S. upper class by undertaxing them! I call this fraudulently borrowed money imaginary-counterfeit money!


The U.S. Government is committing a fiscal and accounting fraud that has printed $123.6 Trillion of imaginary-counterfeit money and given it to the U.S. upper class! The U.S. upper class has been fraudulently enriched by $123.6 Trillion because they have been fraudulently undertaxed by $123.6 Trillion!


The U.S. Government is operating its fiscal policy with Cash Accounting rather than proper GAAP Accounting (Generally Accepted Accounting Principles)! The U.S. Government is promising future benefits to the U.S. general public but is not properly accruing the money to pay these future benefits!


The U.S. Government is blatantly and criminally committing fiscal and accounting fraud!


I present the specific details of the fraud charges against the U.S. Government for committing this accounting fraud in my commentary Fraud Charges against the U.S. Government!


The U.S. Government is committing the biggest crime in the history of Planet Earth; a $123.6 Trillion crime! The U.S. Government has fraudulently borrowed $123.6 Trillion of imaginary-counterfeit money from the future Americans and given it to the U.S. upper class! This is fraud because the future Americans do not have $123.6 Trillion!


This accounting fraud was launched in FY1969 when President Lyndon Baines Johnson convinced the 90th U.S. Congress to adopt the Unified Budget but did not switch from cash accounting to accrual accounting! This accounting fraud has been operating for more than 49 years!


This fiscal and accounting fraud is in the process of


  • 1)
    Giving infinite imaginary-counterfeit wealth to the U.S. upper class by continuously and fraudulently borrowing imaginary-counterfeit money from the future Americans and giving it to the U.S. upper class!
    2) Causing infinite wealth and income inequality in America!
    3) Underfunding U.S. Government benefit promises to the U.S. general public!
    4) Overpaying the U.S. ruling class!
    5) Allowing Americans to buy an infinite amount of stuff from the rest of the planet with an infinite amount of imaginary-counterfeit money that is being continuously and fraudulently borrowed from the future Americans!
    6) Causing Global Warming that is Destroying Planet Earth!


The U.S. Government is lying to and cheating the U.S. general public by promising future benefits that it is not properly funding so that it can fraudulently enrich the U.S. upper class and fraudulently overpay the U.S. ruling class!


By not using accrual accounting, the U.S. Government has already given the U.S. upper class advance payments of 123.6 Trillion (US Unfunded Liabilities (GAAP)), promised the U.S. general public that they will be paid $101.4 Trillion (US Unfunded Future Liabilities) at some future dates, and promised the debt holders that they will be paid back $22.2 Trillion of borrowed funds (National Debt)! The U.S. Government cannot meet any of these of these promised financial commitments!


I have explained how this accounting fraud is causing Global Warming to the Federal Reserve Bank and the United States Global Change Research Program in my April 3, 2019 commentary Climate Change and the Federal Reserve II. This accounting fraud is printing an infinite amount of imaginary-counterfeit money, by continuously borrowing it from the future Americans, so the planet can buy, build, rent, and operate an infinite number of environment-polluting physical objects!


This is why we have so many cars, trucks, and airplanes!


This is why the upper class has so many big houses!


This is why Amazon can sell so much stuff!


This is why the Saudi Princes are so rich!


This is why we have so many millionaires and billionaires!


The U.S. Government is printing imaginary-counterfeit money by borrowing it from the future Americans so the current Americans can buy stuff without paying for it!


This accounting fraud is in the process of printing an infinite amount of imaginary-counterfeit money and giving it to the U.S. upper class! So far, this accounting fraud has printed $123.6 Trillion of imaginary-counterfeit money and is printing $16.7 Billion more imaginary-counterfeit money every day!


This fiscal and accounting fraud by the U.S. Government is a criminal act and each senior member of the U.S. Government is a common criminal because they are direct financial beneficiaries of this massive ($123.6 Trillion) accounting fraud!


The fiscal policy of the U.S. Government is fraudulent because the U.S. Government is not properly accruing the money to pay future U.S. Government benefits! This fiscal policy is a classic Ponzi scheme that I have named USAPonzi! This Ponzi scheme is produced because the U.S. Government is not using the proper accounting system, GAAP Accounting (Generally Accepted Accounting Principles), and as a result is operating with a dramatically unbalanced budget as shown by the GAAP Deficit in FY2019 of $6.10 Trillion in the following table!



National Debt 
$22.2 Trillion 
Cash Deficit in FY2019 
$0.94 Trillion 
GAAP Deficit in FY2019 
$6.10 Trillion 
US Unfunded Future Liabilities 
$101.4 Trillion 
US Unfunded Liabilities (GAAP) 
 $123.6 Trillion 
Imaginary-Counterfeit Money 
$123.6 Trillion 
Total National Assets    $137.3 Trillion  

Source: www.usdebtclock.org April 24, 2019


Because the U.S. Government is not operating its fiscal policy with GAAP Accounting, it is not assessing and collecting enough tax revenue to adequately fund 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 $101.4 Trillion!


This Ponzi scheme has accumulated total US Unfunded Liabilities (GAAP), including the National Debt, of $123.6 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 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 fraudulently borrowed money, imaginary-counterfeit money, because this money does not exist (imaginary) and has no value (counterfeit) because the future Americans can never pay it!


The U.S. upper class is getting richer and richer, by $123.6 Trillion so far, with imaginary-counterfeit money that the corrupt and criminal U.S. Government is continuously and fraudulently borrowing from the future Americans!


The current Americans, primarily the U.S. upper class, have fraudulently gained $123.6 Trillion of imaginary-counterfeit wealth because they have been undertaxed! The U.S. Government imagines that the future Americans can someday pay these deferred public liabilities but the future Americans can never pay these deferred public liabilities so this apparent wealth gain by the U.S. upper class is imaginary-counterfeit money!


This Ponzi scheme fiscal policy has dramatically overpaid the social benefit recipients, the U.S. Government employees, and the Government related businesses increasing our National Debt to $22.2 Trillion!


The undertaxing of the
U.S. upper class by $123.6 Trillion is what is causing the “Wealth Gap”! Is it any wonder that the 1% club is doing quite well? The U.S. upper class is simply and fraudulently getting richer and richer, by $16.7 Billion every day, with imaginary-counterfeit money that the U.S. Government is continuously and fraudulently borrowing from the future Americans!


The U.S. Government is lying to and cheating the U.S. general public by promising future benefits that it is not funding so that it can colossally and fraudulently enrich the U.S. upper class and dramatically and fraudulently overpay the U.S. ruling class!


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 $123.6 Trillion of imaginary-counterfeit money (over the last 49 years) has to be considered colossal favoritism of the U.S. upper class!


This Ponzi scheme fiscal policy has also dramatically and fraudulently 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
is deferring massive and ever-increasing public liabilities to the future Americans to dramatically and fraudulently improve the lifestyle of current Americans and to dramatically and fraudulently increase the wealth of the U.S. upper class with imaginary-counterfeit money that is being fraudulently borrowed/stolen from future Americans!


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 buying, building, 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!


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 fifth book on USAPonzi “USAPonziB” which is available on Amazon and on my websites in Kindle and PDF formats.


This is the biggest ($123.6 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