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 #7 to the U.S. Supreme Court!
November 1, 2017    Emailed to WSJ/NYT/DMN on 10/31/17


The following whistleblower letter was mailed to each member of the U.S. Supreme Court on October 31, 2017.


This letter was also sent by email to “The Wall Street Journal”, “The New York Times”, “The Dallas Morning News”, the Securities and Exchange Commission, and several prominent members of the “news media” on October 31, 2017.


November 1, 2017


                                                  Whistleblower Letter #7 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
      Associate Justice Neil M. Gorsuch


     Supreme Court of the United States of America
    1 First St NE
     Washington, DC 20543


This is a whistleblower letter to the U.S. Supreme Court!


The U.S. Government is “Cooking the Books”!


The U.S. Government is corrupt!


The U.S. Government is operating with a fiscal policy that is now a $108.7 Trillion criminal act! This fraud is systematically transferring massive but counterfeit wealth to the U.S. ruling class and the U.S. upper class by operating a classic Ponzi scheme that I have named USAPonzi.


The U.S. Government and the U.S. upper class are conspiring to enrich themselves and are cheating the U.S. Common Man and the rest of the planet by not operating the U.S. Government fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting)!


The current U.S. Government fiscal policy is borrowing money from the future Americans, that the future Americans do not have, and giving it to the U.S. upper class. The U.S. Government has been doing this for 48 years since USAPonzi was launched in FY1969. This is a criminal act that has given the U.S. upper class $108.7 Trillion of imaginary-counterfeit money!


The U.S. Government and the U.S. upper class are conspiring to enrich themselves by “Cooking the Books”! The U.S. Government is operating “The Biggest Ponzi Scheme on the Planet” that I have named USAPonzi!


This is my 7th Whistleblower Letter to the U.S. Supreme Court expressing the same complaint; the U.S. Government is operating with a corrupt and fraudulent fiscal policy and accounting system. By using this fraudulent accounting system, the U.S. Government has fraudulently borrowed $108.7 Trillion from the future Americans and given it to the U.S. upper class.


Let me say that one more time, the U.S. Government has fraudulently borrowed $108.7 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 $108.7 Trillion!


The U.S. Government is not operating with Generally Accepted Accounting Principles (GAAP Accounting) and as a result is not accruing properly for future U.S. Government benefit promises. Because of this accounting fraud, the U.S. Government is giving the U.S. upper class imaginary-counterfeit wealth that will approach infinity if it is allowed to continue, by undertaxing the U.S. upper class. This is a classic Ponzi scheme that is borrowing an ever-increasing amount of money from the future Americans and giving it to the U.S. upper class.


The U.S. Government and the U.S. upper class are conspiring to enrich themselves by perpetrating a fiscal and financial fraud that is a pre-programmed Ponzi scheme (USAPonzi) that has already given the U.S. upper class $108.7 Trillion of imaginary-counterfeit money. The U.S. Government then borrows $20.5 Trillion from the fraudulently enriched upper class so that it can overpay the U.S. Government employees. This is a pre-programmed Ponzi scheme because, by operating with Cash Accounting, the U.S. upper class is assured that it will be getting richer and richer by the cumulative amount of the GAAP basis deficit spending!


The corrupt U.S. Government has set up an auto-payment system that is mainlining money into the pockets of the U.S. upper class and then the U.S. Government has the unmitigated gall to borrow money from the now fraudulently enriched upper class to overpay itself!


This Ponzi scheme has been distributing an exponentially increasing amount of money to the U.S. upper class for the last 48 years. This accounting fraud has given the U.S. upper class $108.7 Trillion of imaginary-counterfeit money by deferring $108.7 Trillion of public liabilities to the future Americans. The U.S. Government is running a digital counterfeit money printing press that is giving imaginary-counterfeit money to the U.S. upper class, with GAAP basis deficit spending, at the current rate of $15.5 Billion a day (GAAP Deficit in FY2018 = $5.65T/365 = $15.5B).


The U.S. Government has cheated the Common Man because the U.S. Government has made benefit promises to the U.S. Common Man that it has underfunded by $88.2 Trillion. The U.S. Government has even gone so far as to borrow(steal) and spend the money that the U.S. Common Man has paid in with payroll taxes to help fund their future benefits for Social Security, Medicare, and Medicaid.


The U.S. Government has cheated the rest of the planet because the U.S. Government has fraudulently borrowed money from the future Americans, that the future Americans do not have, and given it to the current Americans so they can buy goods and services with this now $108.7 Trillion of fraudulently borrowed money.


The amount of this fraudulent borrowing is reported by www.usdebtclock.org as US Unfunded Liabilities (GAAP) as shown in the table below. This is fraud because the future Americans do not have $108.7 Trillion. I call this fraudulently borrowed money; imaginary-counterfeit money.


When the U.S. Government borrows money from the future Americans with GAAP basis deficit spending, this puts imaginary-counterfeit money into the pockets of the taxpayers that did not have to pay the taxes to cover the cost of this deficit spending. This fraudulently borrowed money is imaginary because the U.S. Government imagines that the future Americans can pay it someday. This fraudulently borrowed money is counterfeit because the future Americans can never pay it. Therefore, I call this fraudulently borrowed money, imaginary-counterfeit money.


In the table below, the total private net worth (Total National Assets) of all Americans is estimated to be $134.8 Trillion but $108.7 Trillion of that is the imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans. Approximately 80% of the net worth of Americans is the imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans ($108.7T/$134.8T = 0.806).


The U.S. upper class has gotten rich because the U.S. Government has fraudulently borrowed $108.7 Trillion from the future Americans and given it to the U.S. upper class. Most of this fraudulently borrowed money goes to the U.S. upper class because the U.S. upper class now pays almost all of our taxes. The U.S. upper class has gotten filthy rich because they have been undertaxed by $108.7 Trillion. And they get richer every day because of ongoing GAAP basis deficit spending of $15.5 Billion a day.


This is why the cost of housing is going up, the U.S. Government is borrowing imaginary-counterfeit money from the future Americans much faster than the U.S. economy is building houses, apartments, and condos. We are buying, renting, and building houses, apartments, and condos with the imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans. USAPonzi has caused The Housing Bubble!


This is why we have so many cars on the road that we have traffic jams, the U.S. Government is fraudulently borrowing imaginary-counterfeit money from the future Americans so we can buy cars that we really cannot afford. USAPonzi has caused The Automobile Bubble!


This is why we can pay professional athletes and entertainers $Millions a year, we are paying them with the imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans. USAPonzi has caused The Pro Athlete Pay Bubble!


This is why we have so many banks and Starbucks stores, we are buying coffee with imaginary-counterfeit money and we are filling our banks with imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans. USAPonzi has caused The Bank Bubble and The Restaurant Bubble!


This is why Amazon, Walmart, Nike, Google, Facebook, Netflix, Apple, etc. are selling so many goods and services, we are buying their goods and services with the now $108.7 Trillion of imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans.


Because the U.S. Government is fraudulently borrowing $15.5 Billion more imaginary-counterfeit money every day, we have seen price inflation of nominally 5% per year in essentially all asset classes ever since FY1969 when USAPonzi was launched.


Because the U.S. Government is fraudulently borrowing $15.5 Billion more imaginary-counterfeit money every day, we can buy more goods and services every day so the companies selling these goods and services have more revenue and more profit every day so the stock market tends to go up every day. This is why we are continually setting all-time highs in the stock market.  USAPonzi has caused a 48-year long term bull market in the stock market but with some dramatic fits and starts. USAPonzi has caused The Stock Market Bubble!


The U.S. Government is corrupt! The senior officials of the U.S. Government are common criminals because they are financial beneficiaries of this accounting fraud that they themselves are perpetrating!


The U.S. Government is “Cooking the Books”!


The U.S. upper class folks are co-conspirators in this criminal act because they refuse to expose this U.S. Government fraud and in fact they are constantly lobbying for a better deal like the current “tax reform” deal that will make them richer faster! The U.S. upper class likes anything that will create more deficit spending because that will make them richer faster.


The U.S. Government is fraudulently creating massive and exponentially increasing imaginary-counterfeit wealth for the U.S. upper class out of “thin air by borrowing money from the future Americans, that the future Americans do not have, and giving it to the U.S. upper class.


The U.S. Government is not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting). The U.S. Government is reporting its financial condition with Cash Accounting in an attempt to conceal the fact that it has created $108.7 Trillion of imaginary-counterfeit money out of “thin air”.


The U.S. upper class is getting filthy rich with imaginary-counterfeit money that the U.S. Government has created with GAAP basis deficit spending of $108.7 Trillion (US Unfunded Liabilities (GAAP)). The U.S. upper class is getting filthy rich because they have been undertaxed by $108.7 Trillion. It pays to have criminal friends in Washington, DC.


The U.S. Government is “Cooking the Books”!


The U.S. ruling class is getting overpaid because the U.S. Government is borrowing money ($20.5 Trillion our National Debt) from the now “fraudulently enriched upper class” to pay themselves more than the U.S. taxpayers have paid in taxes.


The U.S. Common Man is being cheated because the U.S. Government has underfunded the government benefit promises by $88.2 Trillion (US Unfunded Future Liabilities) so that the U.S. Government can undertax the U.S. upper class and make them filthy rich.


The rest of the planet is being cheated because the current Americans are buying goods and services with this $108.7 Trillion of imaginary-counterfeit money that the U.S. Government has fraudulently borrowed from the future Americans (US Unfunded Liabilities (GAAP)).


The U.S. Government is causing “Class Inequality”
by operating a $108.7 Trillion Ponzi scheme!


The U.S. Government is causing the “Wealth and Income Gap”
by operating a $108.7 Trillion Ponzi scheme!


This fraud is why the U.S. Congress cannot agree on an annual budget or healthcare plan! The U.S. Government is making outrageous benefit promises to the general public to get elected so they can enrich themselves with this fraudulent accounting. Until the U.S. Government starts telling the financial truth, all of their debates on financial planning, infrastructure build, tax reform, and healthcare are pointless gibberish!


The U.S. Government is corrupt! The U.S. Government is committing fiscal and accounting fraud to dramatically enrich the U.S. ruling class, to colossally enrich the U.S. upper class, to colossally cheat the U.S. Common Man, and to colossally cheat the rest of the Planet.


The U.S. Government does this simply by operating with a fraudulent accounting system; using Cash Accounting rather than the proper GAAP Accounting, which has produced a massive Ponzi scheme that I call USAPonzi.


The U.S. Government is “Cooking the Books”!


When the U.S. Common Man realizes just how corrupt the U.S. Government really is, we will have rioting in the streets. The general population does not trust the U.S. Government and for good reason, the U.S. Government is enriching itself and is colossally enriching the U.S. upper class while colossally cheating the U.S. Common Man and the rest of the Planet by operating with a dramatically unbalanced budget and attempting to conceal this fraud by using fraudulent accounting.


The U.S. Government has borrowed $108.7 Trillion of imaginary-counterfeit money from the future Americans and given it to the current Americans. This borrowed money is reported on www.usdebtclock.org as US Unfunded Liabilities (GAAP). 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 November 1, 2017, as estimated by www.usdebtclock.org including a comparison of how Cash Accounting and GAAP Accounting assess and report this financial status.

 

National Debt 
$20.5 Trillion 
Cash Deficit in FY2018  
$0.68 Trillion 
GAAP Deficit in FY2018  
$5.65 Trillion 
US Unfunded Future Liabilities 
$88.2 Trillion 
US Unfunded Liabilities (GAAP) 
 $108.7 Trillion 
imaginary-counterfeit money 
$108.7 Trillion 
Total National Assets  $134.8 Trillion 

Source: www.usdebtclock.org November 1, 2017

 

Cash Accounting GAAP Accounting
Deficit in FY2018 
$0.68 Trillion $5.65 Trillion
Public Liabilities 

$20.5 Trillion

$108.7 Trillion
National Debt US Unfunded Liabilities (GAAP)


This is colossal injustice! This is fraud! The U.S. Government is corrupt! The senior U.S. Government officials are common criminals!


USAPonzi
is a $108.7 Trillion criminal fraud that is being perpetrated by the corrupt Government of the United States of America.


The U.S. Government has committed a
$108.7 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.”


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 U.S. Common Man, significantly 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 fiscal policy has also dramatically and artificially stimulated the U.S. and global economy with this GAAP basis deficit spending. The U.S. Government has created $108.7 Trillion of imaginary-counterfeit money out of “thin air” to provide massive purchasing power for the current Americans. 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, currently $108.7 Trillion, will evaporate when USAPonzi implodes causing most banks to fail because most of the money in our banks is imaginary-counterfeit money that has been fraudulently borrowed from the future Americans.


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 websites www.usaponzi.net and www.usaponzi.com or my books “USAPonzi” and “USAPonzi2” which are available on Amazon and also on my  www.usaponzi.net website in Kindle and PDF formats.


It appears that it will take action by the U.S. Supreme Court to restore justice for the U.S. Common Man and the rest of the Planet. The U.S. Supreme Court will also have the task of presiding over “The Bankruptcy of the United States of America” that will be caused by this U.S. Government fiscal and accounting fraud.


This is the biggest ($108.7 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”!


The U.S. Government is “Cooking the Books”!


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