Creating Counterfeit Wealth
81.6% of U.S. Private Wealth is counterfeit because of GAAP basis Deficit Spending.
The U.S. Government is creating counterfeit wealth and counterfeit prosperity for the United States of America by operating with a corrupt and fraudulent Fiscal Policy that is a massive Ponzi scheme (USAPonzi). The Fiscal Policy of the U.S. Government is spending and committing to spend much more than the U.S. Government is collecting in tax revenue, producing what is called Deficit Spending. Deficit Spending undertaxes the current U.S. taxpayer and defers the resulting liabilities to the future U.S. taxpaper while introducing new and counterfeit money into the U.S. and global economy.
According to www.usdebtclock.org this Fiscal Policy has produced a total of $97.3 Trillion of US Unfunded Liabilities (GAAP) since FY1969 when the U.S. Government adopted the Unified Budget. The current U.S. citizens and businesses have therefore been given $97.3 Trillion of counterfeit wealth because the U.S. Government did not collect the taxes required to pay for the Government's spending and committing to spend. Most of this counterfeit wealth will be gained by the upper class citizens and businesses since they would be the primary candidates to pay these taxes.
Deficit Spending has created $97.3 Trillion of counterfeit wealth. The U.S. Government is creating counterfeit Private Wealth by assuming Public Liabilities.
The U.S. Government is using a corrupt and fraudulent accounting system for its budgeting and planning process by using Cash Accounting as opposed to the proper GAAP Accounting. Cash Accounting reports our Cash Deficit and our Debt; but GAAP Accounting reports our GAAP Deficit, our Cash Debt, and our GAAP basis Unfunded Future Liabilities. We are therefore creating counterfeit money at the rate of our GAAP basis Deficit Spending and have created a total amount of counterfeit money as measured by our total Public Liabilities.
Public Liabilities = US Unfunded Liabilities (GAAP) = counterfeit money
According to www.usdebtclock.org, as of August 5, 2015:
National Debt = $18.3 Trillion
US Unfunded Liabilities (GAAP) = $97.3 Trillion (Includes National Debt)
counterfeit money = Public Liabilities = US Unfunded Liabilities (GAAP) = $97.3 Trillion
Our Public Liabilities are increasing each year by our GAAP basis Deficit which according to www.usdebtclock.org is $5.5 Trillion in FY2015.
I predict that this counterfeit money will evaporate when USAPonzi implodes.
According to www.usdebtclock.org as of August 5, 2015 we have the following:
Private Net Worth = US Total Assets = $119.3 Trillion
Public Liabilities = US Unfunded Liabilities (GAAP) = $97.3 Trillion = counterfeit money
Therefore 81.6% of US Private Net Worth is counterfeit money ($97.3T/$119.3T=0.816).
The U.S. Government is using a corrupt and fraudulent Fiscal Policy to make the U.S. upper class appear to be very wealthy and to make the U.S. appear to be very prosperous simply by undertaxing us.
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