Whistleblower Letter #2 to Fed 200312
March 12, 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 3/13/20
I sent the following letter to the Fed Chairman and each of the Fed Presidents by USPS on March 12, 2020 to inform them of the massive ($128.6 Trillion) accounting fraud that is being perpetrated by the U.S. Government!
Whistleblower Letter #2 to the Federal Reserve Bank
March 12, 2020
I am a Whistleblower!
This whistleblower letter explains how the corrupt and criminal Federal Reserve Bank is aiding and abetting the corrupt and criminal U.S. Government by refusing to expose the $128.6 Trillion U.S. Government fiscal and accounting fraud that I call USAPonzi!
To: Chairman Jerome H. Powell
Federal Reserve Bank of the United States
20th Street and Constitution Avenue N.W
Washington, D.C. 20551
President Eric S. Rosengren President John C. Williams
Federal Reserve Bank of Boston Federal Reserve Bank of New York
600 Atlantic Avenue 33 Liberty Street
Boston, MA 02210 New York, NY 10045
President Patrick T. Harker President Loretta J. Mester
Federal Reserve Bank of Philadelphia Federal Reserve Bank of Cleveland
Ten Independence Mall 1455 East Sixth Street
Philadelphia, PA 19106 Cleveland, OH 44114
President Thomas I. Barkin President Raphael W. Bostic
Federal Reserve Bank of Richmond Federal Reserve Bank of Atlanta
701 East Byrd Street 1000 Peachtree Street NE
Richmond, VA 23219 Atlanta, GA 30309
President Charles L. Evans President James Bullard
Federal Reserve Bank of Chicago Federal Reserve Bank of St. Louis
230 South LaSalle Street Broadway and Locust Streets
Chicago, IL 60604 St Louis, MO 63102
President Neel Kashkari President Ester L. George
Federal Reserve Bank of Minneapolis Federal Reserve Bank of Kansas City
90 Hennepin Avenue 1 Memorial Drive
Minneapolis, MN 55401 Kansas City, MO 64198
President Robert S. Kaplan President Mary C. Daly
Federal Reserve Bank of Dallas Federal Reserve Bank of San Francisco
2200 North Pearl Street 101 Market Street
Dallas, TX 75201 San Francisco, CA 94105
John W White
The U.S. Government is committing a fiscal and accounting fraud that is enriching the U.S. upper class, causing global warming, destroying Planet Earth, and causing the rapid spread of the coronavirus!
The U.S. Government is committing a fiscal and accounting fraud by not operating its fiscal policy with proper accrual accounting and each of you, and your predecessors over the last 51 years, are or have been aiding and abetting this criminal act by failing to expose it!
This fiscal and accounting fraud is a criminal act because it is fraudulently enriching Americans relative to the rest of the planet and fraudulently enriching the U.S. upper class relative to the U.S. general public!
The U.S. Government is committing a fiscal and accounting fraud that has fraudulently enriched the U.S. upper class by $128.6 Trillion!
Author's Note: This letter can be read from my website to activate the hyperlinks.
My name is John W. White, and I am a retired information technology executive! I have been studying and writing about this U.S. Government accounting fraud for the last seven years! This accounting fraud is caused by the U.S. Government not operating its fiscal policy with proper accrual accounting!
I am writing to explain why the U.S. economy is continuing to show strength even when several trade, immigration, economic, geo-political, and coronavirus concerns appear to be negatively impacting the global economy!
The corrupt U.S. Government is in the process of printing an infinite amount of counterfeit money by deferring an infinite amount of public liabilities to the future Americans!
The U.S. upper class is getting richer, the U.S. economy is getting stronger, and the stock market is going higher because the corrupt U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is fraudulently borrowing money, I call it imaginary-counterfeit money, from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class by undertaxing them!
The corrupt U.S. Government has already fraudulently borrowed $128.6 Trillion of imaginary-counterfeit money from the future Americans and given it to the U.S. upper class!
The corrupt U.S. Government is “cooking the books” by operating its fiscal policy with Cash Accounting rather than proper and Generally Accepted Accounting Principles (GAAP Accounting)!
The U.S. Federal Reserve Bank is a party to this scheme by failing to expose this fiscal and accounting fraud!
I can understand the reluctance to expose this fraud but someone in a position of power has to step up and acknowledge this U.S. Government fiscal and accounting fraud!
Unwinding a $128.6 Trillion Ponzi scheme will be traumatic and chaotic! But, the longer we wait to expose the fraud the greater the trauma and chaos will be when USAPonzi implodes!
My analysis indicates that the global depression that will occur when USAPonzi implodes will be 4X as severe as the “Great Depression” (See U.S. Total Financial Liabilities 4.3X 1929)!
So far, the U.S. Government has borrowed $128.6 Trillion of imaginary-counterfeit money from future Americans and is borrowing another $16.8 Billion of this imaginary-counterfeit money every day with ongoing GAAP basis deficit spending and giving it to the U.S. upper class by undertaxing them!
This accounting fraud has been operating for the last 51 years since LBJ proposed and the 90th Congress approved the Unified Budget!
In FY1969, when the Unified Budget went into effect, the U.S. Government stopped taxing the U.S. upper class to pay for these future benefits! Since that time, the U.S. Government has deferred $128.6 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans! This is why the U.S. upper class is getting richer and why the rest of the Americans are getting cheated! This is why we have a wealth and income gap!
This is why Jeff Bezos is now worth $130 Billion! The U.S. Government has printed $128.6 Trillion of imaginary-counterfeit money so Americans can buy stuff from Amazon they really could not afford if they were being taxed to cover our debts.
This accounting fraud has created millions of imaginary-counterfeit millionaires and hundreds of imaginary-counterfeit billionaires!
Because this Ponzi scheme has allowed the citizens of our planet to build, buy, rent, and operate an infinite number of environment-polluting physical objects, it has caused climate change! In fact, we have created over a billion cars, trucks, and boats that we cannot afford. In addition, we have built and acquired thousands, even millions, of airplanes, houses, factories, oil wells, skyscrapers that we cannot afford and do not need! Again, these purchases have been made mostly with the imaginary-counterfeit money I have detailed in this letter.
That is why I say that USAPonzi is causing the global warming that is destroying Planet Earth!
The following chart shows how global temperatures started to rise in 1969 when USAPonzi was launched with the Unified Budget!
On January 20, 2020 I sent the following letter, my fourth such letter, to every member of the U.S. Congress in an attempt to inform them of this fiscal and accounting fraud that I call USAPonzi!
Whistleblower Letter #4 to the 116th U.S. Congress
The following is a link to my USAPonzi.com website that explains how this fiscal and accounting fraud is causing the rapid spread of the coronavirus! This fraud has printed $128.6 Trillion of imaginary-counterfeit money which has radically increased global travel that is rapidly distributing the coronavirus to essentially all parts of Planet earth!
Coronavirus spread by USAPonzi (U.S. Government Fraud)!
The following table gives a summary of the financial status of the U.S. Government as of March 12, 2020.
|Cash Deficit in FY2020
|GAAP Deficit in FY2020
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org March 12, 2020
This chart shows how borrowing $128.6 Trillion of imaginary-counterfeit money from the future Americans has fraudulently produced great wealth for the U.S. upper class as indicated by the Total National Assets of $146.5 Trillion!
Public liabilities produce private assets!
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!
I have written Whistleblower Letter #2 to Planet Earth in an effort to provide a concise explanation of this U.S. Government fiscal and accounting fraud that I call USAPonzi.
John W. White