When the Economy Stops! 200503
May 3, 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 5/4/20
With the shutdown of the U.S. economy caused by the shelter-in-place guidelines due to the coronavirus pandemic, we are getting a stark reminder of how the U.S. Government and the U.S. economy are treating the haves vs. the have-nots because of the U.S. Government accounting fraud that I call USAPonzi!
The U.S. general public is highly dependent on having either a good job or good government benefits. The working U.S. general public has been hit hard immediately, by the shelter-in-place guidelines, because they need their job to pay for the next meal for their family! They tend to have little to no money in their pockets!
The U.S. upper class does not feel any economic pinch, in the short term, because the U.S. Government has been taking good care of them by fraudulently borrowing $147.3 Trillion from the future Americans to enrich the U.S. upper class! Further, this fraud is continuing to borrow money, even when the economy is stopped, from the future Americans at the current rate of >$58.1 Billion a day so that the U.S. Government can get more money into the pockets of the U.S. upper class!
Working at home for many of the U.S. upper class and digital workers turned out to be not much of an economic restriction. These elite workers can do their do-nothing jobs from anywhere because they are living on the imaginary-counterfeit money that the U.S. Government is fraudulenty borrowing from the future Americans!
The primary restriction on the U.S. upper class and the benefiting U.S. general public is that they cannot get out to spend their imaginary-counterfeit money on their entertainment! Fortunately for them they can still buy stuff online with their $147.3 Trillion of imaginary-counterfeit money and have the stuff delivered to their home.
However, we are starting to see the pinch on the U.S. upper class when we cannot spend our imaginary-counterfeit money on entertainment! Planes do not fly, cruise ships do not sail, resorts are not open, hotels are vacant, casinos are closed, and sports events are not being played.
The fact that Lebron James is losing $400,000 a game, for every game he does not play, is a stark reminder that unless the U.S. upper class is able and prepared to spend a lot of their $147.3 Trillion of imaginary-counterfeit money to watch him play basketball, he cannot be paid! Pro athletes will be paid $thousands rather than $millions when USAPonzi implodes!
This accounting fraud, that I call USAPonzi, has given the U.S. upper class an opulent lifestyle while giving the working U.S. general public a meager livelihood by providing services to the fraudulently enriched U.S. upper class!
The implosion of this Ponzi scheme will devastate the U.S. general public almost immediately and will soon devastate the U.S. upper class when their imaginary-counterfeit money evaporates!
When this Ponzi scheme implodes nobody will have any money, this imaginary-counterfeit money will evaporate, and we will all be in food lines!
The global economic depression, I call it ‘The Greatest Depression’, that will occur when this Ponzi scheme implodes will be at least four times as serious as ‘The Great Depression’ (See U.S. Total Liabilities Leverage 4.9X 1929)!
The following are links to my whistleblower letters to Planet Earth and the U.S. Congress in an attempt to expose the fraud and corruption within the U.S. Government!
Whistleblower Letter #1 to Planet Earth
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 May 3, 2020
*usdebtclock.org has stopped explicitly reporting the GAAP Deficit. The GAAP Deficit is implicitly reported as the change in US Unfunded Liabilities (GAAP).
I have written two websites (USAPonzi.com and USAPonzi.net) and seven books (the latest is USAPonziD which is available on Amazon) that explain this fraud and the impact it is having on Planet Earth!
John W. White