USAPonzi Economy-How it Works 200630
June 30, 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 7/1/20.
I am a whistleblower! The U.S. Government is corrupt!
The corrupt U.S. Government is not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting)! The corrupt U.S. Government is being run by common criminals that have committed a $152.9 Trillion crime!
In this commentary I will explain how the USAPonzi Economy works! Simply stated, the corrupt U.S. Government prints an unending and ever-increasing amount of counterfeit money by fraudulently borrowing it from the future Americans and giving it to the U.S. upper class so the U.S. upper class can fraudulently buy an unending and ever-increasing amount of goods and services!
This U.S. Government fraud occurs because the corrrupt U.S. Government assesses and reports its financial condition with Cash Accounting rather than proper GAAP Accounting! The corrupt U.S. Government is borrowing a lot more money from the future Americans than it is reporting to the U.S. general public! The corrupt U.S. Government reports that it has borrowed the US National Debt of $26.3 Trillion when it has actually borrowed US Unfunded Liabilities (GAAP) of $152.9 Trillion from the future Americans!
The U.S. upper class is getting rich with counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans and the U.S. general public is getting screwed because the U.S. Government is fraudulently promising them that they will get paid a lot of benefits in the future! The corrupt U.S. Government is promising future benefits to the U.S. general public that it has no intention or capability to pay!
This is the nature of a Ponzi scheme, the early participants in the scheme and the operator of the scheme get paid now and the late participants in the scheme are falsely promised that they will get paid later!
The corrupt U.S. Government is lying to and cheating the U.S. general public so that it can enrich itself and its upper-class friends.
The corrupt U.S. Government is promising to pay future benefits to the U.S. general public but is not taxing the U.S. upper class to pay for these future benefit promises! So far, the corrupt U.S. Government has deferred $152.9 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans and undertaxed the U.S. upper class by $152.9 Trillion.
The corrupt U.S. Government is borrowing money from the future Americans, money future Americans do not have, and giving it to the U.S. upper class! So far, the corrupt U.S. Government has fraudulently borrowed $152.9 Trillion from the future Americans and given it to the U.S. upper class!
This is a classic Ponzi scheme, I call it USAPonzi, that is in the process of borrowing an infinite amount of money, I call it imaginary-counterfeit money, from the future Americans and giving it to the U.S. upper class! GAAP basis deficit spending by the U.S. Government prints imaginary-counterfeit money at the rate of our GAAP basis deficit spending and gives it to the U.S. upper class by undertaxing them!
The current U.S. and global economies are both operating on imaginary-counterfeit money that the corrupt U.S. Government is fraudulently borrowing from the future Americans! This is a $152.9 Trillion accounting fraud that is being perpetrated by the corrupt U.S. Government!
The U.S. upper class does nothing to earn this $152.9 Trillion, it just shows up in their pockets as time passes! That is why the U.S. upper class is getting so rich!
Once the U.S. upper class gets this imaginary-counterfeit money they need to spend it to generate economic activity for the U.S. general public! The U.S. upper class can buy goods (cars, airplanes, houses, etc. etc.) with this counterfeit money. The U.S. upper class can buy services (restaurant visits, bar visits, entertainment tickets, massages, hairdos, tattoos, gas for their cars, plane tickets, hotel stays, resort visits, cruise tickets, etc. etc.) with this counterfeit money.
This is why the U.S. upper class was basically unaffected by the Coronavirus shut down. They were already rich, and their imaginary-counterfeit money kept coming in from this accounting fraud while the income for much of the U.S. general public that were providing services to the U.S. upper class stopped immediately!
This is why we continued to see the U.S upper class spend money like it was going out of style and much of the U.S. general public had to go to food lines within days when the Pandemic shutdown was implemented! Amazon, Apple, Netflix, Google, Facebook, Tesla, car sales, food sales, home sales, etc. etc hardly missed a beat for the U.S. upper class because the corrupt U.S. Government is printing an infinite stream of imaginary-counterfeit money and giving it to the U.S. upper class.
Much of the U.S. general public does not have an income unless the U.S. upper class spends their imaginary-counterfeit money on goods and services that are provided by the U.S. general public!
The corrupt U.S. Government is in the process of giving an infinite amount of imaginary-counterfeit money to the U.S. upper class and screwing the U.S. general public by promising them future benefits but not taxing the U.S. upper class to pay for these benefits!
The problem will come when the corrupt U.S. Government realizes that it cannot continue to borrow an infinite amount of imaginary-counterfeit money from the future Americans.
The U.S. Government and the Federal Reserve Bank will have to keep printing money to keep this Ponzi scheme going! In the meantime, the U.S. upper class is getting richer and richer and the U.S. general public is headed for a financial disaster of epic proportions because the corrupt U.S. Government has hoodwinked them into thinking that they are going to be paid generous U.S. Government benefits in the future that are both unaffordable and unfunded!
The U.S. Government and Federal Reserve Bank stimulus packages are just a temporary fix to an unending and ever-increasing problem!
That is the nature of a Ponzi scheme!
The implosion of the U.S. Government accounting fraud that I call USAPonzi, will send the global economy into a devastating depression, I call it "The Greatest Depression"! This depression will be much more severe than "The Great Depression" because U.S. Total Liabilities are nearly 5X what they were in 1929 (See US Total Financial Leverage 4.9X 1929)!
The following are links to my whistleblower letters to the U.S. General Public and to the U.S. Congress in an attempt to expose this fraud and corruption within the U.S. Government!
Whistleblower Letter #1 to the U.S. General Public
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 30, 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 >$26.8 Trillion (>$152.9T-$126.1T = >$26.8T).
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. My latest book (USAPonziE) is available on Amazon in Kindle or Paperback format and can be downloaded from my www.usaponzi.net website in Kindle or pdf format.
This is the biggest ($152.9 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Great American Fraud” and “The Biggest Ponzi Scheme on the Planet”!
John W. White