Open Letter to Planet Earth Op-Ed 11/28/16
November 28, 2016 Emailed to WSJ NYT DMN Nov 27, 2016
The following is an Op-Ed to "The Wall Street Journal", "The New York Times", and "The Dallas Morning News" that explains how the U.S. Government is using a fraudulent fiscal policy and accounting system to dramatically enhance the lifestyle of current Americans.
Open Letter to Planet Earth
November 28, 2016
This is an open letter to the citizens of planet Earth to inform you that the U.S. Government is corrupt and that The Senior Members of the U.S. Government are Criminals!
The U.S. Government is committing fiscal and accounting fraud so that it can pretend to borrow money from the future Americans to give to the current Americans so that the current Americans can buy things they cannot afford, so that the U.S. Government can overpay itself, and so that the U.S. Government can massively enrich their U.S. upper class friends.
The U.S. Government is operating a massive Ponzi scheme that is paying the current Americans with the future Americans' money that the future Americans do not have. I call this Ponzi scheme "USAPonzi" and it is by far "The Biggest Ponzi Scheme on the Planet". USAPonzi is 2,000 times larger than Madoff Ponzi which Bernie Madoff claimed was a $50 Billion fraud.
The U.S. Government, as of November 28, 2016, has borrowed $104.3 Trillion (US Unfunded Liabilities (GAAP)) from the future Americans and given it to the current Americans. This is fraud because the future Americans do not have $104.3 Trillion.
This U.S. Government fraud has created $104.3 Trillion out of "thin air" and given it to the current Americans. I call this fraudulently borrowed money "imaginary-counterfeit money". This borrowed money is "imaginary" because the U.S. Government imagines that the future Americans will be able to pay it someday, but this borrowed money is "counterfeit" because the future Americans do not have $104.3 Trillion. Therefore, I call this fraudulently borrowed money; imaginary-counterfeit money (See The Concept of Imaginary-Counterfeit Money).
The U.S. Government attempts to conceal this fraud by using Cash Accounting rather than the proper (Generally Accepted Accounting Principles) GAAP Accounting. The following tables demonstrate how Cash Accounting dramatically understates the U.S. Government deficit and public liabilities relative to proper GAAP Accounting.
|Cash Deficit in FY2017
|GAAP Deficit in FY2017
|US Unfunded Future Liabilities
|| $84.4 Trillion
|US Unfunded Liabilities (GAAP)
|| $104.3 Trillion
|Total National Assets
Source: www.usdebtclock.org Nov 28, 2016
|Deficit in FY2017
||US Unfunded Liabilities
This U.S. Government fiscal and accounting fraud can only be equitably eliminated by the adoption of GAAP Accounting and a commitment to a balanced GAAP basis budget by the U.S. Government.
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 enhance the lifestyle of the current Americans! This fraud has transferred $104.3 Trillion of imaginary-counterfeit money to the current Americans but almost all of this money ends up in the pockets of the U.S. upper class.
By borrowing/stealing $104.3 Trillion from the future Americans and giving it to the current Americans, this has increased the apparent private net worth (Total National Assets) of the current Americans to $124.1 Trillion. Therefore, 84% of the apparent private net worth of the current Americans is imaginary-counterfeit money produced by the GAAP basis deficit spending of USAPonzi ($104.3T/$124.1T = 0.84). (See Getting Rich from U.S. Government Fraud).
If the U.S. Government continues to operate USAPonzi, this fraud will create infinite imaginary-counterfeit wealth for the current Americans and infinite public liabilities for the future Americans. That is just what Ponzi schemes do. By borrowing what will become an infinite amount of imaginary-counterfeit money from the future Americans, the current Americans will be able to continue "Filling the Planet with Junk" until the rest of the planet realizes how the U.S Government is cheating them by borrowing monopoly money from the future Americans so that the current Americans can buy their products and services.
This imaginary-counterfeit money (currently $104.3 Trillion) will evaporate into the "thin air" from whence it came when USAPonzi implodes (See The Implosion of USAPonzi).
This fraud is explained in CliffsNotes format (USAPonzi CliffsNotes) and is also 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 formats and on my website in PDF format.
This is the biggest ($104.3 Trillion) financial fraud ever perpetrated, I call it "USAPonzi: The Ultimate Government Fraud" and it is "The Biggest Ponzi Scheme on the Planet"!
John W. White