Editor's note: If Joe Biden wins the presidency, our way of life could change forever...

It will all likely start with a "Debt Jubilee."

We first began discussing the mounting threat of a Debt Jubilee in a 2017 essay by our founder Porter Stansberry. At the time, the rising stock market and growing economy masked many of the factors that were driving a sense of hopelessness among millions of Americans strapped with unpayable debts.

Then, earlier this year, the COVID-19 pandemic hit. And our government sprang into action the way it always does... flooding the economy with newly printed dollars and borrowed money. The response to the outbreak has dramatically increased the public debt. It has only made the national debt crisis worse...

It has made the ideas we describe in this essay – adapted from Chapter 2 of our book, The Battle for America – only more urgent and has brought the notion of an eventual Debt Jubilee further into the mainstream.

It's going to happen. And now, it's all going to happen a lot sooner than anyone thinks...

A Major Jubilee Is Coming to America

From The Battle for America, a book from Stansberry Research

If 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...

1. The wealth gap must be getting dramatically bigger.

2. There must be cultural threats from those perceived as "outsiders" with different values – whether they are minority populations or immigrants.

3. The government must be ineffective at providing solutions.

4. And there must be growing anger toward the "elites."

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.

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."

We're sure you've seen this yourself.

The hatred and anger is like nothing we've ever witnessed. And it's coming from all sides. A member of our 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 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...

During the 1930s, just like today, the rich 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 55% today) and owned 85% of the wealth (compared with nearly 80% today).

Even the political characters are the same...

The 1930s saw a popular socialist presidential candidate just like we saw in the 2020 race with Bernie Sanders. Huey Long, a former governor of Louisiana and a U.S. senator, 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...

How Americans Lost 69% of Their Savings

In 1933 – in order to deal with mounting debts and to print money to pay for dozens of new social programs – President Franklin D. Roosevelt made two extraordinary changes to the financial system.

First, he closed banks for four days and forced Americans to turn in each ounce of gold they owned for $20.67 in paper money.

Then, the government raised the price of gold, wiping out 69% of the savings of anyone who followed these rules.

You're probably familiar with that part of the story. But that was only the beginning...

Roosevelt also eliminated the "Gold Clause" in all contracts, including loans, bonds, and other financial instruments.

You see, at the time, people were worried the government might inflate away the value of their money.

So they added a Gold Clause, which said repayments could be required to be made in gold.

These Gold Clauses were in federal loans, bank deposits, insurance contracts, and other private agreements.

When Roosevelt outlawed the Gold Clause, he stole billions from investors. In fact, a Harvard paper estimates this rule took $700 million a year from private investors who bought government bonds.

Billions more were stolen from folks who lost money from the elimination of the Gold Clause in private contracts, bank accounts, and insurance deals.

Eliminating the Gold Clause was so controversial, investors sued the government. The case went to the Supreme Court.

Roosevelt was terrified his Debt Jubilee would be overturned. He even drafted a speech saying he would ignore the court if it ruled against him.

But his political pressure worked, and the court ruled 5 to 4 in Roosevelt's favor.

Of course, there were consequences...

Tens of millions of Americans lost massive amounts of their savings. And after booming, the stock market soon fell 50% in a single year.

Investor confidence was crushed. Supreme Court Justice Harlan Fiske Stone vowed he would never buy another federal bond.

We had another Debt Jubilee in America about 40 years later...

Starting in the late 1960s, we saw another Populist uprising... a combination of economic and social upheaval.

If you're old enough to remember, think about the anger and resentment of the 1960s.

The Black Panthers' slogan was: "Power to the People." The idols of the day were people like Latin American guerrilla leader Che Guevara, Malcolm X, and Muhammad Ali.

All over the country, there was one clash after another...

Small farmers fought banks and railroads... Union workers battled their bosses and federal judges... On college campuses, students fought anyone with authority... Election rallies routinely ended in violence.

Things were so bad, Lyndon Johnson decided not to run for re-election. Martin Luther King Jr. and Robert Kennedy were assassinated.

In 1968 alone, there were violent uprisings in more than 120 U.S. cities.

A few miles from where our company is headquartered today in Baltimore, thousands of National Guard troops and 50 state police officers were brought in to quell the violence and looting.

At the same time, a major financial crisis was brewing...

The government had borrowed extraordinary sums, and was having a hard time repaying creditors.

That's because at the time, every dollar was required to be backed by gold. So the government couldn't print unlimited amounts of money out of thin air.

Also, foreign creditors who owned U.S. government bonds were allowed to collect repayments in gold bullion instead of dollars... so our gold reserves were quickly disappearing.

Get this: Between 1958 and 1968, 52% of America's gold reserves left the country in the form of repayment for our debts.

The government was scared. It knew there was only one way out... another Debt Jubilee.

First, we eliminated the gold backing of every dollar.

Then, in 1971, President Richard Nixon completely defaulted on our promise to pay gold for dollars to our foreign creditors.

Once again, the government simply wiped the slate clean.

No one could redeem dollars for gold any longer.

This allowed the Fed to print as much money as it needed, to make payments on our debts.

But once again, there were consequences...

In the 1970s, the U.S. dollar lost 30% of its value over a period of several years. Inflation more than doubled. And the stock market fell 48% in less than two years.

Unemployment was around 10%. And believe it or not, the federal government got so desperate that it issued "Carter Bonds" denominated in Swiss francs because the U.S. dollar could no longer be trusted.

That brings us to today.

Once again, the stage is set for America's next Debt Jubilee.

We are living in a world of two different Americas. For the wealthiest 40% of the population, life is good. They enjoyed a long run of rising asset prices... and wages are finally starting to increase.

For everyone else, life is getting worse... For the bottom 60% of America, consumer debt is high and wages are stagnant.

And that's especially true for Millennials...

These young Americans owe the bulk of the $1.6 trillion of student-loan debt outstanding.

Many of them graduated during The Great Recession into the worst job market in 50 years. Even more than a decade later, millions of college-educated Millennials are stuck working jobs for which they're overqualified.

And because of these stagnant wages, they're making an average of 20% less than Boomers were paid for the same work at the same age.

Because of this, Millennials have delayed major life events like getting married or having children at the highest rate of any generation in U.S. history.

Of course, as their wages fell, the cost of living soared... Today, the average young American spends half his paycheck or more on rent. Health insurance premiums have more than doubled since Obamacare.

And even though half of Millennials must work two jobs, most are really only getting by with debt. The average Millennial now owes more than $60,000 in debt, including auto loans and credit cards.

So it's probably no surprise that more than half of Millennials have less than $1,000 in savings.

They're drowning – with no escape in sight.

For this generation, the American Dream is dead.

And that is why we believe a Debt Jubilee in America is inevitable.

The concept of a Jubilee comes from the Bible (the Old Testament), the Book of Leviticus, Chapter 25...

A Jubilee in the Jewish tradition was said to occur roughly every 50 years. It was a time for total forgiveness of debt and the freeing of slaves.

Pope Boniface VIII proclaimed the first Christian Jubilee in 1300. And rulers throughout history have occasionally used a Jubilee to reset the financial system – especially when the poorest citizens are threatening revolt.

Today, the vast majority of America is in bad shape. And the poorest citizens are calling for a radical solution...

But this Jubilee will be different from the 1933 and 1971 ones we've discussed.

The federal government is free to print all the money it needs to pay government debts. Private households are different.

The only ways out of private debt are to pay it, to default, or to have it forgiven with a Debt Jubilee.

Today, America's low-income households don't have the funds to service the money they owe. It's mathematically impossible. And politicians will never allow tens of millions of our poorest citizens to go bankrupt.

So the only solution left is a Debt Jubilee.

It will be similar to the one that took place in 1841 in America...

Back then, the laws were temporarily changed so debtors could be discharged of their debts – without the consent of the creditors. Over a period of 13 months, more than 40,000 people wiped away their debts before the act was rescinded.

Today, it will be tens of millions of people and trillions of dollars. And once again, there will be consequences...

Millions of investors, pensioners, insurance customers, and creditors will lose a fortune. Stocks will collapse. Dozens of companies will go bankrupt.

We're not saying this to scare you. This is simply the reality we face if Democratic challenger Joe Biden, running on the most radical leftist platform our nation has ever seen, wins the White House in November.

The Jubilee is already starting...

Protect your financial accounts. Get out of the common investments that are most likely to get crushed. Focus on ways to profit while everyone else loses their shirts.

And learn all you can about the corruptions destroying America.

Editor's note: During rare periods of crisis in the world's social, political, and financial systems, you either understand and prepare accordingly... or get left behind forever. And Porter will do whatever it takes to make sure you're on the right side of what's coming...

That's why he's sitting down at his home for an urgent briefing this Thursday, July 30. He'll explain why he believes capitalism as we know it is in crisis... and even better, he'll make sure you know exactly what to do to protect yourself and your family. The FREE event starts promptly at 10 a.m. Eastern time. Reserve your spot right here.