Justin’s note: America is in unprecedented territory.For starters, the average American is over $40,000 in debt… and that’s grown 15% over the past four years. Meanwhile, wages and the U.S. economy aren’t keeping up…Stansberry Research founder Porter Stansberry believes there is only one possible outcome: a “Debt Jubilee.”That’s why today, we’re sharing the first chapter of Porter’s book The American Jubilee. In it, he reveals the four conditions that would bring about a debt jubilee, and shows just how close we are to one taking place…By Porter Stansberry, founder, Stansberry ResearchIf you study American history, you’ll see that Debt Jubilees occur only in a unique type of extreme political environment.After all, a Jubilee is a radical measure.The government essentially steals money from one group and hands it to another.In order for this to occur, four elements must be in place… Sounds familiar, doesn’t it?We have the largest gap ever between the rich and poor…We have huge increases in violent protests about immigration and race…We have a completely ineffective government…And we have extreme animosity toward the “elites” from both the left and right.Check… check… check… and check.There’s actually a name for this type of political and social phenomenon.It’s called “populism.” And it emerges every 30 to 40 years. There must be cultural threats from those with different values or from outsiders (in other words, minority populations and immigrants). During the 1930s, just like today, the wealthy acquired a much higher-than-normal percentage of our nation’s wealth…And in both the 1930s and today, the percentage of the population who were foreign-born was higher than normal… causing animosity among the “common man.”Just like today, the economic conditions of the 1930s caused extreme income inequality.Back then, the top 10% earned 45% of all income (compared with 50% today) and owned 85% of the wealth (compared with 75% today).Even the political characters are the same…The 1930s saw a popular socialist presidential candidate just like we had in 2016. Huey Long was a former governor of Louisiana and a U.S. senator. He proposed an income cap at $1 million… a 30-hour federal work week… and 100% income taxes at the highest level.Long even established 27,000 “Share Our Wealth” clubs around the country and had a radio show that was listened to by one in five Americans.So where did this all lead?It led to America’s most dramatic Debt Jubilee to date…Regards,Porter Stansberry Founder, Stansberry ResearchJustin’s note: According to Porter, a financial revolution is already starting to take place across America. Many aren’t aware of it. But the Charlottesville riots… the burning of inner cities… the resurgence of neo-Nazi groups… and the “Black Lives Matter” protests are all signs that a Jubilee is imminent.But you still have time to protect yourself. Porter and his team of analysts have put together a presentation to explain everything. You’ll learn how the Jubilee will play out, as well as the steps you can take to survive… and prosper… once it hits. Watch it here.In Case You Missed It…On April 26, 2018, Casey Research is hosting a pivotal event… the Pot Stock Millionaire Summit.At this summit, Doug Casey, along with Crisis Investing editor Nick Giambruno, will discuss five frontier marijuana stocks set to soar as legalization gets underway. These stocks are the best ways to get in on what Forbes calls “the best ground-floor opportunity we’ve seen since the early days of the internet.” Sign up right here. Populist movements are characterized by extreme anger at the government, at the wealthy, at the establishments, and at “newcomers” and minorities.As the director of an Alabama group that tracks violence and hate crimes around the country told Newsweek in June 2017: “There has been a massive explosion of violence across the country.”I’m sure you’ve seen this yourself.The hatred and anger is like nothing I’ve witnessed in my lifetime. And it’s coming from all sides. A member of my staff went to a book reading in Baltimore by one of the most famous left-wing authors in the country.The author told the crowd that he wished he could go back in time and smother Donald Trump in his crib as a baby… or convince Trump’s mother to have an abortion.This epitomizes the political and social environment in America today.From the protests and marches… to the refusals to stand during the national anthem…From Black Lives Matter to the anti-immigration movements… to the rejuvenation of white supremacists… to the tripling of membership in the Democratic Socialists of America.It’s clear we are in the middle of an extreme “populist” period in America.Ray Dalio, one of the richest men in America, studied the political environments of the past 100 years and concluded in March 2017…The last time that it [populism] existed as a major force in the world was in the 1930s, when most countries became populist. Over the last year, it has again emerged as a major force.Look at this chart. The big spikes show when populist politicians got the most votes in America and abroad…So, what does this all mean?It proves that what we’re experiencing today is eerily similar to what happened in the 1930s… right before the biggest and most radical Debt Jubilee in American history. The economic comparison is stunning.Interest rates hit zero leading up to each of these periods…The government went into mega money-printing mode during both periods…Printing money caused the stock market and other risky assets to boom during both periods… boosting the wealth of the rich, but doing nothing for the poor… — How I almost lost $1,000,000 in 8 hours In 8 hours, I almost lost my entire $1,000,000 life savings. But by using this “secret key” technique… I saved all my money… generated a fortune… and got to retire at 42, with more security than I’d ever imagined. I’ve been quietly using it for the past 26 years to make millions. Click here and see my “secret key” in action. Recommended Link Recommended Link Why the SECOND crypto megaboom will be bigger, starting on April 30 The Bitcoin bull market will go down in history – but DON’T WORRY if you didn’t get rich. Because the second megaboom will be MUCH BIGGER. In fact, it will DWARF anything we’ve seen, minting a whole new class of crypto millionaires. Will you join them? — The government must be ineffective at providing solutions. And there must be growing anger toward the “elites.” The wealth gap must be getting dramatically bigger.