Global Financial System Time Bomb
October 25, 2017 Emailed to WSJ/NYT/DMN on 10/25/17
The following is an Op-Ed to “The Wall Street Journal”, “The New York Times” and “The Dallas Morning News” that explains how U.S. Government fiscal and accounting fraud has created a Global Financial System Time Bomb that will explode when USAPonzi implodes!
The “news media” has an ethical responsibility to inform the general public of how the U.S. Government is committing fiscal and accounting fraud to cheat the general public and the rest of the planet so they can “feather their own nests” and “dramatically feather the nests of their upper-class friends”!
Global Financial System Time Bomb
October 25, 2017
The U.S. Government is running a $108.7 Trillion Ponzi scheme (USAPonzi) that is setting the stage for a colossal collapse of the global financial system!
The U.S. Government is corrupt! The U.S. Government has been operating with a fraudulent accounting system since FY1969! The U.S. Government is not using proper GAAP Accounting! Because of this fraud, the U.S. Government has borrowed $108.7 Trillion from the future Americans and given it to the U.S. upper class (See American Accounting Fraud)!
This is fraud because the future Americans do not have $108.7 Trillion! When this fraud is exposed, the global financial system will collapse! The stock market will fall by more than 80%! The bond market will fall by more than 80%! The real estate market will drop by more than 80%! Most banks will fail! Most businesses will fail! U.S. and global economic activity will fall by more than 80%!
The U.S. Government is propping up the U.S. and global economy by digitally and fraudulently printing imaginary-counterfeit money by borrowing money from the future Americans, that the future Americans do not have, and giving it to the U.S. upper class!
The U.S. Government is itself about to implode because the U.S. Government is corrupt and has been for now 48 years. This fraud was started by LBJ in FY1969 when he proposed and the U.S. Congress approved the Unified Budget! The reason that the two political parties cannot agree on anything of substance is because of this financial fraud that both political parties have been perpetrating for now 48 years. How do they escape from a now $108.7 Trillion financial lie that they have been telling for 48 years. Bernie Madoff got life in prison for a much lesser fraud! His was only a $50 Billion fraud!
The U.S. general public does not yet have knowledge or proof that the U.S. Government is corrupt but they were sufficiently upset with what is going on in Washington to elect a rogue President to try to escape from the oppression that this fraud is imposing on the U.S. Common Man! Neither the U.S. ruling class nor the U.S. upper class wants to give up on this fiscal and accounting fraud that is "feathering their nests".
This fraud has given the U.S. upper class $108.7 Trillion, why would they want to stop this fraud! The U.S. ruling class has fraudulently borrowed $20.4 Trillion from the now fraudulently super rich upper class so they can enrich themselves, why would they want to stop this fraud.
The U.S. Common Man is being cheated by this fraud because the U.S. Government has underfunded their future benefits promises by $88.3 Trillion so the U.S. Government can enrich the U.S. upper class. Further, this fraud is fraudulently and progressively transferring all of the fake wealth in the United States to the U.S. upper class. The U.S. Common Man is "mad as hell" but they do not know how to escape from this financial predicament that is being perpetrated by a corrupt U.S. Government!
This is a very simple fraud, the U.S. Government is borrowing fake money from the future Americans, that the future Americans do not have, and giving it to the U.S. upper class. The U.S. Common Man has $108.7 Trillion reasons to be "mad as hell" with the U.S. Government!
The global financial system is sitting on a Global Financial System Time Bomb that has been created by a financial and accounting system fraud that is being perpetrated by a corrupt U.S. Government!
When will this time bomb explode? We do not yet know but it is inevitable! The anger in Washington, the anger on main street, and the anger in the rest of the planet are all being pushed to the limits by the now $108.7 Trillion financial lie that the U.S. Government has been telling for 48 years!
|Cash Deficit in FY2018
|GAAP Deficit in FY2018
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org Oct 25, 2017
To eliminate this fraud, the U.S. Government must adopt GAAP Accounting and commit to a balanced GAAP basis budget.
I have published a website www.usaponzi.net that explains how this fraud works to create a massive global wealth and income gap between the haves and the have-nots and to create false wealth and prosperity for the current Americans. The www.usaponzi.net website is an introduction to my more detailed website www.usaponzi.com and my books “USAPonzi” (Nov 22, 2015) and “USAPonzi2” (May 1, 2017) which are available on Amazon to better explain this fraud/Ponzi scheme.
This fraud/Ponzi scheme is also explained in “short story style” in my October 1, 2017 commentary USAPonzi CliffsNotes and in my October 8, 2017 commentary USAPonzi Elevator Speech.
This is the biggest ($108.7 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Ultimate Government Fraud” and “The Biggest Ponzi Scheme on the Planet”.
John W. White