Donald Trump: "I'm really Rich"!
Donald Trump is not nearly as rich as he thinks he is!
82% of U.S. Private Net Worth is Counterfeit money!
Jun 19, 2015
As posted on www.usaponzi.com
Donald Trump claims that his Net Worth is $9 Billion! Forbes' estimate of Donald Trump's Net Worth is less than half of that at $4.1 Billion. In this commentary I will demonstrate that both of these estimates are dramatically overstating Trump's (and all other upper class U.S. citizens') Net Worth because 82.0% of his Net Worth is counterfeit money. This commentary will show that, because of a corrupt and fraudulent U.S. Government accounting system, all Americans think we are richer and more prosperous than we really are.
The U.S. Government is using an improper accounting system (Cash Accounting vs. GAAP Accounting) for its budgeting, tax assessing, and reporting, which is dramatically undertaxing the U.S. citizens and businesses causing all U.S. citizens and businesses to appear to be more prosperous and more wealthy than proper accounting would assess and report. And not by just a little bit. This accounting system makes us, all U.S. citizens and businesses as a group, appear to be $96.9 Trillion richer than we really are because we are not paying the taxes necessary to finance the Government's spending and committing to spend!
We are living on an exponentially increasing amount of borrowed money. The U.S. Government borrows this money (counterfeit money) from the future U.S. taxpayer by undertaxing the current U.S. citizens and businesses with GAAP basis Deficit Spending, gives some of it to the social benefit recipients, gives a lot of it to U.S. Government employees and supporting businesses, and gives a ton of it to the most prosperous U.S. citizens and businesses.
Note: Financial data in this commentary was sourced from www.usdebtclock.org as of June 19, 2015.
U.S. Private Net Worth: $118.1 Trillion U.S. Total National Assets
U.S. National Debt: $18.3 Trillion
U.S. Unfunded Liabilities: $78.6 Trillion GAAP basis Unfunded Future Liabilities
U.S. Public Liabilities: $96.9 Trillion Debt + Unfunded Future Liabilities Counterfeit Money
The U.S. Government is using a corrupt and fraudulent Fiscal Policy. The U.S. Government is operating a massive ($96.9 Trillion) Ponzi scheme (USAPonzi) by undertaxing the U.S. citizens and business by $96.9 Trillion, creating $96.9 Trillion of counterfeit money, and appearing to make U.S. citizens and businesses $96.9 Trillion richer.
I hate to tell Donald but he is not nearly as rich as he thinks he is because the Fiscal Policy of the U.S. Government, of which he wants to become President, is corrupt and fraudulent. The U.S. Government, by running this USAPonzi scheme, is creating artificial Private Net Worth by assuming Public Liabilities. As a result we are operating with $96.9 Trillion of counterfeit money in the global economy that the U.S. Government has created out of "thin air" (See The U.S. Government is Corrupt!).
The following table shows Donald Trump's "real" Net Worth by allocating the cost of our Public Liabilities to Donald on a pro rata basis by Apparent Net Worth. Donald has not had to pay a ton of taxes to fund our Government's spending and as a result appears to be quite wealthy either by his estimate or that of Forbes Magazine.
All citizens Trump's estimate Forbes' estimate
and businesses of Trump's Net Worth of Trump's Net Worth
Apparent Net Worth $118.1 Trillion $9.00 Billion $4.10 Billion
Public Liabilities $96.9 Trillion $7.38 Billion $3.36 Billion Counterfeit Money
"Real" Net Worth 21.2 Trillion $1.62 Billion $0.74 Billion
%Counterfeit 82.0% 82.0% 82.0%
Donald Trump thinks he is worth $9 Billion but he is in actuality worth at most $1.62 Billion and more likely only worth $0.74 Billion since his markup of the "Trump Brand" will implode right along with the implosion of USAPonzi. Donald Trump will not look nearly as smart when the U.S. Government starts telling the truth.
Donald Trump is not really as rich as he thinks he is. Donald Trump, rather than running for President, had better stay focused on his personal businesses because he, like most U.S. citizens and businesses and the U.S. Government, is headed toward bankruptcy when USAPonzi implodes (See also Dealing with National Bankruptcy!).
Now please do not get me wrong, either $1.62 Billion or $0.74 Billion is a lot of money but it is a far cry from what Donald Trump is claiming of $9 Billion. But most upper class Americans have an over exaggerated view of their Net Worth, 82.0% of it is counterfeit money, because of USAPonzi.
The U.S. Government, with its Ponzi scheme Fiscal Policy, is creating counterfeit money at the rate of our GAAP basis Deficit Spending ($15.1 Billion a day) that appears to make America and American citizens dramatically more prosperous and wealthy (by $96.9 Trillion) than we really are.
While this commentary is focused on Donald Trump's financial status, the story is nominally the same for all upper class U.S. citizens and businesses.
Our Global financial system is heading toward a financial catastrophe of epic proportions that will occur when USAPonzi implodes.