The Biggest Ponzi Scheme on the Planet-The U.S. Government
"American Economic Exceptionalism Explained"                     USAPonzi                                      by John W. White   Mar 29, 2013

Whistleblower Letter #5 to the U.S. Congress!
May 1, 2020


The following Whistleblower Letter was sent in a mass mailing, through FedEx Office, to each member of the U.S. Congress on May 15, 2020.


Letter  to Congress as submitted to Fedex Office

Mailing List submitted to Fedex Office

Confirmation of Mailing on May 15, 2020

Congress Letter Envelope Sample


Whistleblower Letter #5 to the U.S. Congress
May 1, 2020


To: Each member of the Congress of the United States of America


From: John W White
           2804 Fenwick Lane
           Plano, Tx


I am a whistleblower! The U.S. Government is corrupt!


Each and every member of the U.S. Congress is a common criminal because the U.S. Government has fraudulently given the U.S. upper class $147.3 Trillion and cheated the U.S. general public out of $122.5 Trillion!


The corrupt U.S. Government is lying to and cheating the U.S. general public by promising them future benefits but is not accruing the money to pay for these future benefits!


By not operating the fiscal policy of the U.S. Government with proper accrual accounting, you have committed a $147.3 Trillion criminal act!


The corrupt U.S. Government has created the wealth and income gap in America by not accruing for future U.S. Government benefit promises to the U.S. general public! The corrupt U.S. Government has created a social injustice gap between the U.S. upper class and the U.S. general public of $269.8 Trillion, by undertaxing the U.S. upper class by $147.3 Trillion and underfunding the future benefit promises to the U.S. general public by $122.5 Trillion!


The corrupt U.S. Government is fraudulently enriching the rich and cheating the unrich!


The corrupt U.S. Government must understand the importance of eliminating this corruption;
the survival of Planet Earth is at stake!


While this letter is being sent to each current member of the U.S. Congress, it applies to all senior members of the U.S. Government over the last 51 years since this corruption started in FY1969 when the U.S. Government adopted the Unified Budget!


The corrupt U.S. Government is running a Con Game (See USAPonzi-The Great American Con Game) by promising to pay U.S. Government benefits to the U.S. general public but is not taxing the U.S. upper class enough to pay for these benefits!


The senior officials of the U.S. Government are common criminals that have fraudulently enriched the U.S. upper class by $147.3 Trillion and have fraudulently enriched themselves by paying themselves dramatically more than the U.S. taxpayers can afford! 


The corrupt U.S. Government has fraudulently borrowed $147.3 Trillion from the future Americans and given it to the U.S. upper class (US Unfunded Liabilities (GAAP) = $147.3 Trillion) by undertaxing them!


Author's note:
This whistleblower letter can be read from my www.usaponzi.com website to activate the hyperlinks (http://usaponzi.com/whistleblower-letter--5-to-congress-200501.html).


This is my fifth whistleblower letter to each member of the U.S. Congress in an attempt to expose USAPonzi-The Great American Fraud
! The U.S. Government is committing a fiscal and accounting fraud to dramatically elevate the status of America relative to the rest of the planet and to dramatically elevate the status of the U.S. upper class relative to the U.S. general public!


The U.S. Government is running a classic Ponzi scheme


The U.S. Government is committing a fiscal and accounting fraud by not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting) which has produced 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, money the future Americans do not have, and giving it to the U.S. upper class so the entire planet can build and buy an infinite number of environment-polluting physical objects that are causing Global Warming which is destroying Planet Earth!


The U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money by fraudulently borrowing it from the future Americans with unbounded GAAP basis deficit spending and giving it to the U.S. upper class by undertaxing them!


The U.S. Government has already fraudulently borrowed $147.3 Trillion (US Unfunded Liabilities (GAAP)) of imaginary-counterfeit money from the future Americans and given it to the U.S. upper class by undertaxing them!


The U.S. Government, in FY2020, is fraudulently borrowing an average of more than $58.1 Billion of imaginary-counterfeit money every day from the future Americans and giving it to the U.S. upper class! (GAAP Deficit in FY2020 = >$21.2T/365 days = >$58.1B/day)!


The following table shows how much US Unfunded Liabilities (GAAP) have increased since the start of FY2020 on October 1, 2019.


  US Unfunded Liabilities (GAAP)

October 1, 2019  $126.1 Trillion 
May 1, 2020  $147.3 Trillion 
GAAP Deficit to date  >$21.2 Trillion 

 

The U.S. Government, in FY2020, is fraudulently borrowing an average of more than $58.1 Billion of imaginary-counterfeit money every day from the future Americans and giving it to the U.S. upper class! (GAAP Deficit in FY2020 = >$21.2T/365 days = >$58.1B/day)!


While this accounting fraud is causing many issues in the global economy and the global financial system, I will, in this letter, explain what I consider to be the six most critical issues created by this accounting fraud!


1-Enriching the U.S. upper class


The U.S. upper class appears to be getting rich because this accounting fraud is not accruing for future benefit promises! This accounting fraud has deferred $147.3 Trillion of public liabilities (US Unfunded Liabilities (GAAP)) to the future Americans and given the U.S. upper class $147.3 Trillion of imaginary-counterfeit money by undertaxing them! This accounting fraud is in the process of fraudulently borrowing an infinite amount of imaginary-counterfeit money from the future Americans and giving it to the U.S. upper class with GAAP basis deficit spending


2-Cheating the U.S. general public


The U.S. general public is getting cheated by $122.5 Trillion (US Unfunded Future Liabilities) because the U.S. Government is not accruing the money to pay future U.S. Government benefits!


3-Cheating the Rest of the Planet


The corrupt U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money, by borrowing it from the future Americans, so the current Americans can buy stuff from the Rest of the Planet without paying for any of it! The corrupt U.S. Government is borrowing money from the future Americans, money that the future Americans do not have, so the current Americans can buy stuff and charge it to the future Americans!


4-Causing Global Warming


This accounting fraud is in the process of printing an infinite amount of imaginary-counterfeit money by borrowing it from the future Americans so the current Americans and the rest of the planet can buy and build an infinite number of environment-polluting physical objects! We are filling up Planet Earth with smartphones, cars, airplanes, boats, houses, apartments, condos, airports, and cities etc. etc. etc. by spending this infinite stream of imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans.


5-Causing the Coronavirus Pandemic


Because almost all current Americans and many people throughout the planet are living on imaginary-counterfeit money that the U.S. Government is fraudulently borrowing from the future Americans, they can live wherever they choose rather than living next to factories and farms where they can get jobs that produce something of real value!


This accounting fraud is in the process of building an infinite number of housing units (multiple grand and giant houses and condos for the ultra-rich, big houses for the just-rich, modest houses and apartment buildings for the working and the benefiting, shanties for the poor, and cardboard boxes for the homeless) that are all becoming more densely packed every day!


Many Americans do not have to work for a living, they just spend the money that the U.S. Government is fraudulently borrowing from the future Americans! You can live just about anywhere when all you have to do is clip coupons!


USAPonzi
is causing the urbanization of the planet!


These densely populated areas create a breeding ground for germs that can be spread locally because people are living closer and closer together every day!


Because the U.S. Government is in the process of printing an infinite amount of imaginary-counterfeit money, people all over the planet can travel by car, plane, or boat to essentially any place on the planet to carry germs everywhere without having to pay for their travel expenses!


This accounting fraud is packing people together to transmit germs locally and spreading these germs globally by printing imaginary-counterfeit money so people can travel everywhere carrying these germs without having to pay for their travels with earned income!


6-Destroying Planet Earth


This accounting fraud is printing an infinite amount of imaginary-counterfeit money so the entire planet can buy and build an infinite number of everything which is causing Global Warming that is Destroying Planet Earth while buying and building an infinite number of things we cannot afford and will not be able to effectively use when this Ponzi scheme implodes (See Death of Planet Earth)!


This fiscal and accounting fraud by the U.S. Government is a criminal act by the U.S. Government and each senior member of the U.S. Government is a common criminal because they are direct financial beneficiaries of this massive ($147.3 Trillion) accounting fraud!


The following table summarizes the U.S. Government financial condition as of May 1, 2020.

 

National Debt 
$24.8 Trillion 
US Federal Tax Revenue  $3.51 Trillion 
US Federal Spending (Cash)  $6.07 Trillion 
Cash Deficit in FY2020 
$2.56 Trillion 
US Federal Spending (GAAP)  >$24.7 Trillion 
*GAAP Deficit in FY2020 
>$21.2 Trillion 
US Unfunded Future Liabilities 
$122.5 Trillion 
US Unfunded Liabilities (GAAP) 
 $147.3 Trillion 
Imaginary-Counterfeit Money 
$147.3 Trillion 
Total National Assets  $144.5 Trillion 

Source: www.usdebtclock.org May 1, 2020
*usdebtclock.org has stopped explicitly reporting the GAAP Deficit. The GAAP Deficit is implicitly reported as the change in US Unfunded Liabilities (GAAP).


Because the U.S. Government is not operating its fiscal policy with proper GAAP Accounting, it is not assessing and collecting sufficient tax revenue to adequately fund the future liabilities for veteran benefits, pensions, and social benefit promises that the U.S. Government has made to the U.S. general public! These US Unfunded Future Liabilities now total $122.5 Trillion!


On a Cash basis, the U.S. Government is spending 1.7X its income ($6.07T/$3.51T = 1.729)!


On a GAAP basis, the U.S. Government is spending >7.1X its income (>$24.8T/$3.51T = >7.066)!


This is why the U.S. Government now has $147.3 Trillion of US Unfunded Liabilities (GAAP); the U.S. Government is spending, on a GAAP basis, 7.1 times as much as it is collecting in US Federal Tax Revenue in FY2020!


And to make matters even worse, most of the $3.51 Trillion of US Federal Tax Revenue is imaginary-counterfeit money that comes from income taxes and capital gains taxes from the economic activity generated by $147.3 Trillion of imaginary-counterfeit money!


This Ponzi scheme has accumulated total US Unfunded Liabilities (GAAP), including the National Debt ($24.8 Trillion), of $147.3 Trillion and has introduced an equivalent amount of imaginary-counterfeit money into the global economy and financial system with this unreported but real GAAP basis deficit spending!


GAAP basis deficit spending
by the U.S. Government digitally prints imaginary-counterfeit money and gives it to the U.S. upper class by undertaxing them! The U.S. Government is borrowing money from the future Americans, money the future Americans do not have, and giving it to the U.S. upper class! I call this money, imaginary-counterfeit money, because this money does not exist (imaginary) and has no value (counterfeit) because the future Americans can never pay it!


This Ponzi scheme has significantly favored all Americans and within America has dramatically favored the U.S. ruling class and has colossally favored the U.S. upper class! A windfall gift of $147.3 Trillion of imaginary-counterfeit money (over the last 51 years) has to be considered colossal favoritism of the U.S. upper class!


This Ponzi scheme fiscal policy has also dramatically and artificially stimulated the U.S. and global economy with this massive GAAP basis deficit spending! The implosion of USAPonzi will cause a dramatic discontinuity in the global economy that will lead to a Global Depression that will be much more severe than “The Great Depression”! My analysis indicates that the current U.S. Total Financial Leverage (U.S. Total Liabilities as a percent of GDP) is 4.9X what it was in 1929 just prior to the start of “The Great Depression”!


USAPonzi
, if allowed to continue, will transfer an infinite amount of imaginary-counterfeit money from the future Americans to the U.S. upper class while devastating the U.S. general public and all future Americans!


The U.S. general public cannot possibly compete with the U.S. upper class in the fantasy USAPonzi economy on a relatively fixed hourly/weekly/monthly income when the U.S. upper class is being given an unending and ever-increasing (infinite) amount of imaginary-counterfeit money by fraudulently borrowing it from future Americans!


Because this accounting fraud is in the process of printing an infinite amount of imaginary-counterfeit money, the entire planet is in the process of building, buying, renting, and operating an infinite number of environment-polluting physical objects which is causing Global Warming that is in the process of destroying Planet Earth!


The U.S. Government has been running this Ponzi scheme since FY1969 when Lyndon Baines Johnson proposed, and the U.S. Congress approved the Unified Budget and as a result the U.S. Government has been warming up Planet Earth for the last 51 years!


The following National Aeronautics and Space Administration chart shows that the global average temperature started to rise in 1969 the year that the U.S. Congress approved the Unified Budget that launched USAPonzi!



This imaginary-counterfeit money, currently $147.3 Trillion, will evaporate into the “thin air” from whence it came when USAPonzi implodes!


This 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!


You can learn more about this fraud/Ponzi scheme by reading my websites www.usaponzi.net and www.usaponzi.com or by reading my seventh book on USAPonzi “USAPonziD which is available on Amazon.


This is the biggest ($147.3 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Great American Fraud and “The Biggest Ponzi Scheme on the Planet”!


John W. White
Plano, TX