For the last few months, the word hyperinflation has been finding its way into the news cycles and the day-to-day conversations we all have with friends and family.
The reality is that we have seen hyperinflation before, and we will see it again. Argentina, Zimbabwe, and Germany are only a few historical instances of hyperinflation that devastated their economies.
Unfortunately, it looks like we are headed in the same direction, so we may have little time to stock up before prices skyrocket.
Fuel prices seem to skyrocket without needing inflation to propel them. Oil companies will take any excuse to ratchet up the cost of all fuels, and hyperinflation is one of those excuses.
It is not practical for everyone to store large quantities of fuel but storing away a few jerry cans is always a good idea.
Related: The Best Places Where You Can Store Fuels Safely In An Emergency
Always remember to stabilize the fuel before storing it to extend its life span.
I rotate my small fuel storage by emptying the next jerry can into my truck gas tank and refilling it with fresh gas. The tricky part is picking a day where the price is the lowest.
COVID taught us that panic buying would strip store shelves of the most unexpected items.
I never thought that toilet paper and paper towels would become a hot enough commodity that they could almost have been used as currency.
Remember what we saw during COVID, and keep a healthy stockpile of toilet paper and paper towels on hand.
Dry Goods And Canned Food
We all need to eat, and most of us have food stored away, but when we rotate out the older items, we still need to replenish them.
Hyperinflation is going to make the price of a lot of these products excessively expensive, so stock up while the price is still somewhat low.
Many preppers habitually buy a couple of extra canned or dry goods each shopping trip. If you have not adopted this habit yet, it is probably a good time to start.
Related: 22 Cans You Can Purchase for $1 or Under
Food prices are skyrocketing, and there is no sign of prices easing anytime soon. If you have been falling behind on food storage, now is the time to think about rectifying that.
The best way to combat rising food costs is to grow your food, but you can’t do that unless you have some high-quality heirloom seeds for your garden.
Now is the time to think about buying seeds in case the inflation that we see spirals out of control into a full-scale economic collapse.
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Seeds are also a fantastic barter item that will significantly benefit others more than many supplies we would usually save for bartering.
Tobacco And Alcohol
These items are best stockpiled for barter, not personal use, especially tobacco.
It is essential that anyone who wants to be prepared for the potential economic collapse break any addictions or unhealthy habits that they may have to substances like tobacco or alcohol.
Even caffeine is something that we should try and break our habit to. Keeping a carton of smokes and a few bottles of alcohol on hand is excellent for bartering with people desperate for their vice.
There is also the fact that people who are experiencing alcohol withdrawals can see these withdrawals become life-threatening. Keeping some alcohol on hand can help to stabilize these individuals until the crisis is over and supply chains are restored.
I think it is safe to say that the prices people are forced to pay for ammunition are almost criminal. When hyperinflation hits, the cost of ammo is going to skyrocket.
The problem with ammo is that it’s a resource we need to expend to practice the safe and effective use of firearms.
If you have the means, it is a good idea to take up reloading your ammo and stock up on reloading supplies. Whether you purchase your ammo or reload, now is the time to stock up.
Some people need to take regular medication to treat chronic conditions, and if you don’t have good insurance, these costs will add up more and more as inflation gets out of control.
You should try and keep a three to a six-month stockpile of any prescription medications that you need.
Also, stock up on some over-the-counter meds as well. Recently in my country, the supply of over-the-counter children’s pain medication all but dried up. This was due to supply chain issues, but in hyperinflationary times, these types of meds could be priced out of reach for many people.
We have all seen the prices increasing at the grocery store. The cost of meat is no exception.
To combat this, stock up when prices are good, and vacuum seal the meat for long-term storage in the freezer. You can also make pemmican or jerky to preserve it for long periods of time.
If you happen to be a hunter, take advantage of all the opportunities your area provides and try and fill the freezer as much as possible.
Gold And Silver
Gold and silver have significant advantages during hyperinflation. They are precious metals that have a value to the human race which has spanned millennia. Since gold, silver, and other precious metals are not tied to fiat currencies, they are immune to the failure of those currencies.
It is good to stock some gold coins as a hedge against inflation. Still, silver is better for the smaller day-to-day transactions we would be making in the event of an economic collapse caused by runaway inflation.
As of the writing of this article, silver was hovering around $20 USD while gold was about $1750 USD. Imagine trying to buy a few grocery items with a gold coin it would be too overvalued for that type of purchase, whereas a silver coin would be closer in value.
There is nothing we can do about hyperinflation. What we can do is accelerate our preparedness to counter the effects. Take measures in your lives today to make what is probably coming in the future more tolerable.
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