Bubble of Bubbles by Fraud 200606
June 6, 2020
Emailed to The United Nations, Fed Chair Jay Powell, St Louis Fed President James Bullard, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, and NYT/WSJ/WP/DMN/CNBC on 6/6/20
I am a Whistleblower! The U.S. Government is corrupt!
In this commentary I will again explain how the corrupt U.S. Government has created a Bubble of Bubbles by fraudulently borrowing an infinite amount of counterfeit money from the future Americans!
The corrupt U.S. Government is committing a fiscal and accounting fraud by not operating its fiscal policy with proper and Generally Accepted Accounting Principles (GAAP Accounting) which has produced a massive Ponzi scheme that I call USAPonzi!
The corrupt U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money and giving it to the U.S. upper class by fraudulently borrowing it from the future Americans! So far, this fiscal and accounting fraud has given the U.S. upper class $147.9 Trillion of imaginary-counterfeit money!
The corrupt U.S. Government is promising future benefits to the U.S. general public but is not accruing the money to pay for these future benefits!
The corrupt U.S. Government has enriched the U.S. upper class by fraudulently borrowing $147.9 Trillion from the future Americans and giving it to the U.S. upper class by undertaxing them!
By not using proper GAAP Accounting, the corrupt U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money and giving it to the U.S. upper class!
When you have an infinite amount of imaginary-counterfeit money you can buy an infinite amount of everything! On my websites (www.usaponzi.net and www.usaponzi.com) and in my series of eight books on USAPonzi, I explain how we have bubbles in cars, trucks, airplanes, boats, houses, condos, apartment buildings, banks, restaurants, guns, bombs, oil, skyscrapers, cities, etc.
I have not tried to explain all of the bubbles this accounting fraud has produced because that would be impossible since there are an infinite number of things that are in a bubble, but in this commentary, I will list many more of these bubbles!
When the corrupt U.S. Government prints an infinite amount of counterfeit money, we can build, buy, rent, operate, hire, and consume an infinite amount of everything!
Each item in the list below is in a bubble because the U.S. Government is corrupt! As examples, we have hired way too many policemen and we have built way too many hospitals!
Bubble of Bubbles
Personal Care Shops
This fiscal and accounting fraud has created a Bubble of Bubbles by fraudulently borrowing an infinite amount of imaginary-counterfeit money from the future Americans!
The way this accounting fraud works, the U.S. upper class gains most of the benefit of this fraud/Ponzi scheme, the U.S. general public gets the dregs, and the rest of the planet gets screwed, except for the elite and they get filthy rich!
The fundamental characteristic of a fair and equitable economy is that every entity in that economy only spends what it has earned or what it can reasonably be expected to earn! A fair and equitable global economy can only be maintained and sustained by the U.S. Government using proper GAAP Accounting and committing to a balanced GAAP basis budget!
Americans, primarily the U.S. upper class, now have an estimated net worth (US Total National Assets) of $143.1 Trillion simply because the corrupt U.S. Government has fraudulently borrowed $147.9 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans and given it to the U.S. upper class by undertaxing them!
The corrupt U.S. Government is using “smoke and mirrors and fraud” to create the illusion that America is rich and prosperous!
The following are links to my whistleblower letters to Planet Earth and to the U.S. Congress in an attempt to expose this fraud and corruption within the U.S. Government!
Whistleblower Letter #1 to Planet Earth
Whistleblower Letter #5 to the U.S. Congress
|US National Debt
|Cash Deficit in FY2020
|GAAP Deficit in FY2020
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org June 6, 2020
*usdebtclock.org has stopped explicitly reporting the GAAP Deficit. The GAAP Deficit is implicitly reported as the change in US Unfunded Liabilities (GAAP). US Unfunded Liabilities (GAAP) were $126.1 Trillion on October 1, 2019 the start date for FY2020, therefore the GAAP Deficit in FY2020 will be >$21.8 Trillion (>$147.9T-$126.1T = >$21.8T).
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain this fraud and the impact it is having on Planet Earth. The reader can download my latest book (USAPonziE) most conveniently from my www.usaponzi.net website.
John W. White