The Biggest Ponzi Scheme on the Planet-The U.S. Government
"American Economic Exceptionalism Explained"                     USAPonzi                                      by John W. White   Mar 29, 2013

Causing Wealth and Income Inequality-current
December 1, 2019


In this commentary I will explain how the U.S. Government is committing a fiscal and accounting fraud that is causing Wealth and Income Inequality in America!


The U.S. Government is promising unaffordable future U.S. Government benefits to the U.S. general public but is not taxing the U.S. upper class enough to pay for these future U.S. Government benefits! The U.S. upper class is getting richer and richer every day because they are being undertaxed! As of today, the U.S. Government has fraudulently given the U.S. upper class $127.0 Trillion by undertaxing them (US Unfunded Liabilities (GAAP))!


The U.S. Government is committing a fiscal and accounting fraud by operating its fiscal policy with Cash Accounting rather than proper and Generally Accepted Accounting Principles (GAAP Accounting) which has produced a classic $127.0 Trillion Ponzi scheme fiscal policy, I call it USAPonzi, that is not accruing for future U.S. Government benefit promises to the U.S. general public!


When the U.S. Government does not accrue for future benefit promises, this has the effect of borrowing money from the future Americans, I call it imaginary-counterfeit money since the future Americans can never pay this borrowed money, and giving it to the U.S. upper class by undertaxing them!


As of today, the U.S. Government has fraudulently borrowed $127.0 Trillion of imaginary-counterfeit money from the future Americans, money the future Americans do not have, and given it to the U.S. upper class and is borrowing $16.8 Billion more imaginary-counterfeit money every day and giving it to the U.S. upper class with GAAP basis deficit spending!


This is why we have wealth and income inequality, the U.S. Government is in the process of digitally and fraudulently printing an infinite amount of imaginary-counterfeit money, by borrowing it from the future Americans, and giving it to the U.S. upper class!


This Ponzi scheme that I call USAPonzi is fraudulently:


Printing infinite counterfeit money
Enriching the U.S. upper class
Enriching the U.S. ruling class
Cheating the U.S. general public
Cheating the rest of the planet
Causing Social Injustice
Causing Wealth and Income Inequality
Causing Global Warming
Destroying Planet Earth


Wealth and Income Inequality is caused by the U.S. Government not operating its fiscal policy with proper and Generally Accepted Accounting Principles (GAAP Accounting)! GAAP basis deficit spending by the U.S. Government prints imaginary-counterfeit money and gives it to the U.S. upper class by undertaxing them!


I have written two websites (usaponzi.net and usaponzi.com) and six books (the latest is USAPonziC) which are available on Amazon that explain how this U.S. Government fiscal and accounting fraud got started, the problems it is causing, and what I predict will happen when USAPonzi implodes


This fraud was started in 1969 when Lyndon Baines Johnson proposed and the U.S. Congress approved the Unified Budget but did not switch from Cash Accounting to GAAP Accounting that would properly accrue the money to pay future U.S. Government benefits to the U.S. general public!


The U.S. Government is in the process of fraudulently printing an infinite amount of imaginary-counterfeit money, by fraudulently borrowing it from the future Americans, and giving it to the U.S. upper class by undertaxing them! So far, the U.S. Government has given the U.S. upper class $127.0 Trillion, has overpaid the U.S. ruling class by $23.1 Trillion, and has underfunded the future benefit promises to the U.S. general public by $103.9 Trillion!


That is why we have Wealth and Income Inequality in America, the U.S. Government likes the U.S. upper class a lot more than it likes the U.S. general public, $127.0 Trillion more!


It could be that the U.S. Government likes the U.S. upper class more than the U.S. general public because they pay bigger bribes and make bigger campaign contributions! The U.S. upper class has plenty of imaginary-counterfeit money to pay bribes and make campaign contributions because the U.S. Government has fraudulently given the U.S. upper class $127.0 Trillion of imaginary-counterfeit money!

 

National Debt  $23.1 Trillion 
Cash Deficit in FY2020  $1.04 Trillion 
GAAP Deficit in FY2020  $6.13 Trillion 
US Unfunded Future Liabilities  $103.9 Trillion 
US Unfunded Liabilities (GAAP)  $127.0 Trillion 
Imaginary-Counterfeit Money  $127.0 Trillion 
Total National Assets  $148.4 Trillion 

Source: www.usdebtclock.org December 1, 2019


This imaginary-counterfeit money will evaporate when USAPonzi implodes!


This is the biggest ($127.0 Trillionfinancial fraud ever perpetrated, I call it “USAPonzi: The Great American Fraud” and “The Biggest Ponzi Scheme on the Planet”.


John W White
Plano, TX