Distributing Imaginary-Counterfeit Money!
August 3, 2016
The U.S. Government is corrupt! The U.S. Government is running a classic Ponzi scheme by using Cash Accounting rather than the proper GAAP (Generally Accepted Accounting Principles) Accounting. This Ponzi scheme fiscal policy (USAPonzi) has deferred $103.0 Trillion of US Unfunded Liabilities (GAAP) to the future U.S. taxpayers as of August 3, 2016. The U.S. Government imagines that the future U.S. taxpayers will be able to pay these deferred public liabilities but of course they cannot so this is counterfeit money. I call this imaginary-counterfeit money because it is both imaginary and counterfeit. This money was not earned! It does not even exist! It has been produced out of "thin air" by U.S. Government fiscal and accounting fraud (See The Theory of Imaginary Money).
The money that the U.S. Government is fraudulently borrowing from the future U.S. taxpayers is imaginary-counterfeit money. This imaginary-counterfeit money will evaporate when USAPonzi implodes (See The Implosion of USAPonzi).
The U.S. Government is distributing this imaginary-counterfeit money to improve the lifestyle of all Americans, to dramatically improve the lifestyle of the U.S. ruling class, and to colossally improve the lifestyle of the U.S. upper class. The U.S. Government is pumping counterfeit money into the U.S. and global economy at an exponentially increasing rate by pretending to borrow it from the future U.S. taxpayers.
The U.S. Government distributes this imaginary-counterfeit money to the U.S. citizens and businesses by overpaying the Government employees and businesses, overpaying the social benefit recipients, and undertaxing the current U.S. taxpayers.
|Cash Deficit in FY2016
|GAAP Deficit in FY2016
|Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org August 3, 2016
The U.S. Government reports our deficit as our Cash Deficit of $0.53 Trillion when our real deficit is our GAAP Deficit of $5.73 Trillion. The U.S. Government reports our public liabilities as our National Debt of $19.4 Trillion when our real public liabilities are our US Unfunded Liabilities (GAAP) of $103.0 Trillion.
The U.S. Government is continuing this fraud and is creating more imaginary-counterfeit money and imaginary-counterfeit wealth every day with GAAP basis deficit spending of $5.73 Trillion in FY2016.
The U.S. Government is simply pretending to borrow imaginary-counterfeit money from the future U.S. taxpayers and giving it to current Americans. This is fraud because the future U.S. taxpayers do not have $103 Trillion.
To eliminate this fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget. I have created a website www.usaponzi.com and have written a book "USAPonzi", available on Amazon, that explain this Ponzi scheme in much more detail.
This is the biggest ($103.0 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and "The Biggest Ponzi Scheme on the Planet".