Exactly three years ago, we launched this daily e-letter… and needless to say, it’s been eventful.

It should be clear by now that the topics we routinely discuss in our daily conversations are actually happening:

- The grand fiat experiment is unraveling.

- Governments are, in fact, going bankrupt.

- And they’re turning the heat up against their own citizens in a desperate attempt to maintain the status quo.

Here in Europe, bank runs are becoming commonplace, and depositors are being frozen out of their accounts without warning. Politicians in many countries have seized private pensions and are once again touting capital controls as the panacea.