The $102.8 Trillion Heist!
"Make America Honest Again"
July 11, 2016
The fraud and corruption within the U.S. Government is so massive it is unthinkable. The U.S. Government tries to distract us from the true nature of their fraud by saying that we have a serious debt problem because we have a National Debt of $19 Trillion and if we don't do something it will soon be $21 Trillion.
While the U.S. Government pretends to stew about that problem and do nothing to resolve it, they have been using fraudulent accounting in an attempt to conceal the fact that they have transfered $102.8 Trillion of imaginary-counterfeit money to their rich friends. The U.S. Government has stolen $102.8 Trillion from the future U.S. taxpayers and given it to the U.S. citizens and businesses and they give most of it to the U.S. upper class by undertaxing them.
Yes you heard me right, the U.S. Government has stolen $102.8 Trillion of imaginary-counterfeit money and given most of it to themselves and their rich friends. Cash Accounting reports National Debt of $19.3 Trillion but proper GAAP Accounting reports U.S. Unfunded Liabilities (GAAP) of $102.8 Trillion. We are not talking about simple waste, fraud, and abuse issues we talking about massive U.S. Government accounting fraud (See How Much Money is $2.5 Trillion). The U.S. Government has borrowed/stolen 40X that much money.
The U.S. Government is stealing $15.7 Billion (GAAP Deficit $5.74T/365 = $15.7B) from the future U.S. taxpayers every day and slipping most of it to themselves and their rich friends. They say in Washington, Wall Street, and on CNBC that the United States of America is the "best house in a poor neighborhood". What a bunch of poppycock! We only give the appearance of being the "best house in a poor neighborhood" because of U.S. Government fraud. We have the most corrupt and fraudulent U.S. Government in the history of the planet when measured on a dollar basis. $102.8 Trillion is massive fraud. The U.S. Government is stealing $15.7 Billion from the future U.S. taxpayers every day to make the United States look like the "best house in a poor neighborhood".
This Ponzi scheme fiscal policy, when it implodes, will require a total reformation of the U.S. Government, our accounting system, our financial system, and our banking system. Almost all banks will fail when USAPonzi implodes because this Ponzi scheme has filled them up with imaginary-counterfeit money (See The Bank Bubble).
The U.S. Government has gotten us into this problem by using a fraudulent accounting system, using Cash Accounting rather than the proper GAAP Accounting. This is my clarion call on this website! This is the first thing that must be fixed. Yes we are cheating on a Cash basis as well but that is only about 20% of our problem. That is the part the U.S. Government is willing to admit to.
The U.S. Government, the U.S. economy, and the global economy are operating on $102.8 Trillion of what I call imaginary-counterfeit money. This is money that the U.S. Government has created out of "thin air" by deferring $102.8 Trillion of public liabilities to the future U.S. taxpayers. This is reported on www.usdebtclock.org as U.S. Unfunded Liabilities (GAAP). The U.S. Government is assuming/imagining that the future U.S. taxpayers will eventually be able to pay these ever increasing public liabilities. This is why I call this imaginary money. But the current U.S. taxpapers are being undertaxed by $5.74 Trillion in FY2016 so it is absurd to expect the future U.S. taxpayers to make up that current period gap and then make a balloon payment of $102.8 Trillion. That is why I call this money counterfeit money. The U.S. Government has produced $102.8 Trillion of imaginary-counterfeit money out of "thin air" and given it to U.S. citizens and businesses (See The Theory of Imaginary Money).
This scenario suggests that if the future U.S. taxpayers could just come up with $100 Trillion or so we could all be very rich. This is why our fiscal policy is absolutely absurd. When the U.S. Government starts telling the financial truth, we are in for a rude awakening. In today's USAPonzi economy world, the U.S. Government is borrowing $15.7 Billion every day to close the gap. But they are borrowing imaginary-counterfeit money and pretending like it is real money. We have tapped out the U.S. taxpayers and we are still spending, on a GAAP basis, $5.74 Trillion more than the U.S. taxpayers are paying just this year.
Our fiscal policy is absolutely absurd!
This is the very nature of a Ponzi scheme; use money from the new participants to pay the early participants. The U.S. Government is running a classic Ponzi scheme (USAPonzi) that has deferred $102.8 Trillion of public liabilities to the future U.S. taxpayers (US Unfunded liabilities (GAAP)) and has introduced $102.8 Trillion of imaginary-counterfeit money into the global financial system as a result of this GAAP basis deficit spending.
|Cash Deficit in 2016
|GAAP Deficit in 2016
|Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Jul 10, 2016
I have tried to encourage the U.S. Government to address this coming financial crisis by sending 12 Whistleblower letters to the SEC and a Whistleblower letter to each member of Congress and to each member of the Supreme Court (these letters are posted on my website www.usaponzi.com).
The U.S. Government is using the future U.S. taxpayers like a bottomless piggy bank to make themselves and their rich friends appear to be very, very rich. The problem is the future U.S. taxpayers are much more than tapped out, they are is now $102.8 Trillion in the hole and the U.S. Government is still drawing down $15.7 Billion more every day from the future U.S. taxpayers.
This is absurd!
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.
This change will be very, very traumatic for the entire planet. This imaginary-counterfeit money, currently $102.8 Trillion, will evaporate into the "thin air" from whence it came when USAPonzi implodes (See The Implosion of USAPonzi).
In order to create a level economic playing field that is sustainable over time and equitable throughout the planet, the U.S. Government must eliminate this fraud and corruption. The U.S. Government must stop cheating the future Americans and the rest of the planet just so it can dramatically enhance the lifestyle of current Americans (See Getting Rich on Borrowed Money)!
This change will help "Make America Honest Again"!
USAPonzi is explained in much more detail on my website www.usaponzi.com and in my book "USAPonzi" which is available on Amazon in Kindle and paperback format and on www.usaponzi.com in PDF format.
This is the biggest ($102.8 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet".