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 #3 to the U.S. Supreme Court!
January 1, 2017


The following letter was sent to each member of the U.S. Supreme Court by certified mail on January 9, 2017.


January 1, 2017  

                                                    Whistleblower Letter #3 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


This is my 3rd Whistleblower Letter to the U.S. Supreme Court expressing the same complaint.


The U.S. Government is perpetrating a $104.7 Trillion criminal fraud by operating with Cash Accounting rather than the proper GAAP Accounting (Generally Accepted Accounting Principles)!


The U.S. Government is operating as "The American Mafia" by fraudulently borrowing $104.7 Trillion of monopoly money from the future Americans and giving it to the current Americans.


This is an international crime because this fraud is producing monopoly money (imaginary-counterfeit money) that Americans are using to buy goods and services from all over the planet.


The U.S. Government is creating a dramatically accelerated consumption rate for the current Americans by fraudulently borrowing $104.7 Trillion of monopoly money from the future Americans.


The U.S. Government is allowing the current Americans to live dramatically beyond their means by fraudulently borrowing $104.7 Trillion of monopoly money from the future Americans.


The U.S. Government is corrupt! The senior U.S. Government officials are criminals.


After the Enron and WorldCom financial scandals, the U.S. Government passed the Sarbanes/Oxley Act of 2002 that required all public companies to report their financial condition with GAAP Accounting to prevent the possibility of fraudulent accounting activities. The U.S. Government is committing financial fraud by not using GAAP Accounting that has given the current Americans $104.7 Trillion of imaginary-counterfeit money that has been fraudulently borrowed from the future Americans that the current Americans can use to buy goods and services from the unsuspecting and uninformed rest of the Planet. This is the biggest crime ever committed.


The U.S. Government is doing exactly what the U.S. Government itself tried to prevent with the Sarbanes/Oxley Act of 2002.


The U.S. Government is operating with a massive Ponzi scheme fiscal policy, which I have named USAPonzi, that has deferred $104.7 Trillion of public liabilities to the future Americans that can never be paid and has therefore given $104.7 Trillion of imaginary-counterfeit money to the current Americans. In effect, the U.S. Government has borrowed $104.7 Trillion of imaginary-counterfeit money from the future Americans and given it to the current Americans. This is the signature attribute of a Ponzi scheme; pay the early participants in the scheme with money from the late participants.


The following tables shows the financial status of the U.S. Government, as of January 1, 2017, as estimated by www.usdebtclock.org.

 

National Debt 
$19.9 Trillion 
Borrowed from Trust Funds  $5.5 Trillion 
Cash Deficit in FY2017 
$0.59 Trillion 
GAAP Deficit in FY2017 
$5.65 Trillion 
US Unfunded Future Liabilities 
$84.8 Trillion 
US Unfunded Liabilities (GAAP) 
 $104.7 Trillion 
Imaginary-Counterfeit Money 
$104.7 Trillion 
Total National Assets  $126.9 Trillion 

   Source: www.usdebtclock.org January 1, 2017

 

Cash Accounting GAAP Accounting
Deficit in FY2017 
$0.59 Trillion $5.65 Trillion
Public Liabilities 

$19.9 Trillion

$104.7 Trillion
National Debt US Unfunded Liabilities (GAAP)



By operating with a fraudulent accounting system (Cash Accounting), the U.S. Government is understating its deficit and public liabilities as shown in the above tables. The U.S. Government budget is dramatically more unbalanced than the U.S. Government is reporting to the U.S. and Global citizens. This unbalanced budget has enriched the U.S. ruling class, colossally enriched the U.S. upper class, colossally cheated the U.S. Common Man, and colossally cheated the rest of the planet.


The U.S. Government is committing fiscal and accounting fraud to the tune of $104.7 Trillion.


The U.S. Government has undertaxed the current Americans by $104.7 Trillion (US Unfunded Liabilities (GAAP)) which has increased the private net worth (Total National Assets) of current Americans, primarily the U.S. upper class, to $126.9 Trillion. The U.S. Government is colossally and fraudulently enriching the U.S. upper class by nominally $104.7 Trillion simply by undertaxing them. 83% of U.S. private net worth (Total National Assets) is imaginary-counterfeit money produced by U.S. Government fiscal and accounting fraud ($104.7T/$126.9T = 0.825). The U.S. Government is increasing the private net worth of its U.S. upper class friends by assuming $104.7 Trillion of public liabilities. The U.S. upper class is Getting Rich from U.S. Government Fraud!


The U.S. Government has underfunded U.S. Government benefit promises to the Common Man by $90.3 Trillion; US Unfunded Future Liabilities of $84.8 Trillion plus $5.5 Trillion that the U.S. Government has borrowed and spent from the benefit trust funds. The U.S. Government is lying to and cheating the U.S. Common Man by promising U.S. Government benefits but underfunding them by $90.3 Trillion.


The U.S. Government has overpaid the U.S. ruling class and related businesses by $19.9 Trillion (National Debt). The U.S. Government is fraudulently enriching itself.


The U.S. Government has borrowed $104.7 Trillion of imaginary-counterfeit money from the future Americans so that the current Americans can fraudulently buy goods and services from each other and from the rest of the planet. The U.S. Government is cheating the rest of the planet by $104.7 Trillion. People are going hungry all over the planet and the U.S. Government has produced $104.7 Trillion of imaginary-counterfeit money out of "thin air" so that the current Americans can live the "Life of Riley".


This is colossal injustice! This is fraud! The U.S. Government is corrupt! The senior U.S. Government officials are criminals! The U.S. Government has become "The American Mafia" by perpetrating this $104.7 Trillion fraud!


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 $84.8 Trillion as of January 1, 2017 according to the www.usdebtclock.org website. In addition, Cash Accounting appropriately reports our cumulative Cash Deficit spending as our National Debt of $19.9 Trillion yielding total US Unfunded Liabilities (GAAP) of $104.7 Trillion. (US Unfunded Liabilities (GAAP) = National Debt + US Unfunded Future Liabilities).


By undertaxing the current Americans by $104.7 Trillion, the U.S. Government has introduced $104.7 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 $104.7 Trillion from the future Americans and given it to the current Americans. The U.S. Government has given current Americans $104.7 Trillion of spending money that I call imaginary-counterfeit money because the U.S. Government imagines that the future Americans can pay these public liabilities making this imaginary money but the future Americans 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 (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 richer and richer with this borrowed imaginary-counterfeit money, now $104.7 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 fraudulently borrowed from the future Americans and the future Americans cannot pay the resulting deferred public liabilities.


This is a $104.7 Trillion criminal fraud being perpetrated by the Government of the United States of America.


The U.S. Government is borrowing money from the future Americans 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 Americans. But this money can never be paid back! This is criminal fraud!


The U.S. Government has committed a $104.7 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 $104.7 Trillion.


Because of this fraud, the rest of the planet gets cheated because most of the purchases made by 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, colossally cheat the Common Man, enrich the U.S. ruling class, colossally enrich the U.S. upper class, and colossally 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 $104.7 Trillion of imaginary-counterfeit money (over the last 48 years) has to be considered colossal favoritism. This is what has produced the Wealth Gap; U.S. Government fraud!


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 Americans 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 Americans 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. In my second whistleblower letter to the U.S. Supreme Court dated September 2, 2016 I enclosed a CliffsNotes version of this book. With this third whistleblower letter I am sending a further updated version of my book "USAPonzi" that, I hope, better explains this U.S. Government fraud and corruption.


This is the biggest ($104.7 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