This is what happens when a country goes bankrupt

It's uncomfortable to think that the 'richest', most powerful nations in the world-- the United States, most of Western Europe, Japan, etc. are already insolvent.

But if you read the first installment of this Crash Course you know that this statement is based on fact. It's not some attention-seeking end of the world prediction... but merely a presentation of publicly available data and fifth grade arithmetic.

History is full of examples of superpowers buckling under the weight of too much debt and unsustainable finances. The Roman Empire. The Soviet Union. The French Bourbon monarchy. The Ottoman Empire.

This is not the first time in history that it’s happened. And it's foolish to think that 'this time is different'.

Furthermore, history shows that whenever governments enter this 'orbit of insolvency', they almost always rely on the same destructive playbook of tactics. Capital controls. Price controls. Gun controls. And more.

Today we should talk about these steps-- what history demonstrates are the eight steps that bankrupt governments almost always take. You can read today's lesson here:

http://secure.sovereignman.com/cc/eight-steps

You'll also find a riveting video clip with Ron Paul and Jim Rogers from the Offshore Tactics Workshop that we held in Chile earlier this year. Ron thinks that "there's going to be a lot more chaos yet to come."