Hyperinflation has happened before, and it can happen again. Countries like Argentina, Germany and Zimbabwe have experienced some historical instances of hyperinflation that devastated local economies.
Unfortunately, it looks like the U.S. is headed in that direction now. But you still have time to stock up on survival essentials like canned goods and fuel before prices skyrocket. (h/t to AskAPrepper.com)
If you're preparing for a potential economic collapse, it would be wise to break any addictions or unhealthy habits that you may have to substances like tobacco or alcohol.
And if you don't use alcohol or tobacco, these items still deserve a place in your stockpile because you can use them for bartering after SHTF, especially if you intend on trading supplies with other people you know have vices.
When SHTF, you will need firearms and ammo to protect your property, yourself and your loved ones. Stock up on ammo now because when hyperinflation hits, the cost of ammo is going to go through the roof.
However, resources like ammo also get used up if you want to practice so you can use your firearms safely and effectively when disaster strikes and you have to defend yourself. If you have the means to do so, reload your ammo and stock up on reloading supplies if you want to save on ammo for your firearms.
When dealing with a long-term survival scenario, you will need a lot of food and supplies to feed your family.
If you already have a survival stockpile at home, make sure you regularly rotate your supplies to prevent spoilage. Replenish all items you consume so you also have what you need when SHTF.
Hyperinflation will make many of the items in your stockpile rather expensive, so stock up now while prices are still somewhat affordable.
If you have a tight budget, buy one or two cans of extra food every time you buy groceries. This might not seem like much, but all items will add up eventually in your stockpile.
With food prices skyrocketing, there is no sign of prices going down anytime soon. If you still don't have a stockpile set up in your home now, start today before it's too late.
Even without inflation, fuel prices continue to increase and take a chunk out of your hard-earned money. Amid world crises like pandemics and wars, oil companies will take any excuse to increase the cost of all fuels, with hyperinflation as one of those convenient excuses.
It's not practical for everyone to store large quantities of fuel but if you have space in your garage, you can benefit from storing several jerry cans of fuel for your car or generator. When storing fuel for your stockpile, make sure you stabilize the fuel before storing it to extend its life span.
Like the food in your stockpile, you also need to rotate your fuel storage by emptying the next jerry can into your car's gas tank and refilling the jerry can with fresh gas. Try to stock up on fuel on days when you know the price is the lowest. (Related: Things people need to have before hyperinflation hits.)
If you want to have a significant advantage during hyperinflation, try to stock up on valuable metals like gold and silver.
Because gold, silver and other precious metals are not linked to fiat currencies, they are immune to the failure of currencies like dollars.
Stock up on some gold coins as a hedge against inflation. Silver is better for smaller day-to-day transactions you would be making after an economic collapse caused by runaway inflation.
To date, silver is hovering around $20 while gold is around $1,750. It would be difficult to buy food with gold when SHTF, but you can use silver since it would be closer in value.
The cost of meat, like other items at the grocery store, continues to skyrocket due to regular inflation. Imagine how much meat can cost after hyperinflation.
Deal with this by stocking up on meat when prices are low, like during sales or store promotions. You can also take advantage of store coupons to save some money while buying meat in bulk.
Once you get meat at a good price, make your supply last by vacuum-sealing the meat for long-term storage in the freezer. Alternatively, you can use meat to make pemmican or beef jerky to help preserve it for a long time.
If you can hunt, use your skills to hunt for meat and fill your freezer before SHTF.
If you or other family members take regular medication to treat chronic conditions and if you don’t have good insurance, these costs will add up more as inflation gets out of control.
Before disaster strikes, try to get a three or six-month stockpile of all prescription medications that you need.
If your budget allows, you can also stock up on some over-the-counter (OTC) medication for your family. This can also help if the supply of OTC pain medication becomes scarce after SHTF or if hyperinflation affects prices.
During the Wuhan coronavirus (COVID-19) pandemic, people who didn't have a survival stockpile struggled to buy supplies since many others often stripped store shelves of the most unexpected items, like toilet paper and paper towels.
Before prices go up, get paper products like toilet paper and paper towels for your survival stockpile.
Before SHTF, starting a home garden and growing fruits, vegetables, herbs and medicinal plants is one of the best ways to deal with rising food costs. However, this can be rather challenging if you don't have high-quality heirloom seeds for your garden.
If you don't have a garden yet, start preparing now and buy seeds ahead of possible hyperinflation that may affect your area after a full-scale economic collapse. Seeds are also a great barter item.
Here are some seeds to stock up on before SHTF:
While you can't avoid hyperinflation, you can prep ahead so you have supplies in your stockpile. Set some money aside and start buying supplies like ammo, fuel and food now so you can get supplies for your family before prices skyrocket.
Visit Preparedness.news for more tips on how to prepare for economic disasters.
Watch the video below for food preservation and storage tips that can help you prepare for a food crisis.
This video is from the P2P Networking channel on Brighteon.com.