The word hyperinflation has been making its way into the news cycle and our everyday conversations for the past few months. We have seen hyperinflation before, and we will see it again. Argentina, Zimbabwe, and Germany are only a few historical examples.
There may not be much time to stock up before prices skyrocket, since it looks like we are headed in the same direction.
Fuel
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.
Storing large quantities of fuel may not be practical for everyone, but storing jerry cans is always a good idea. Always remember to stabilize the fuel before storing it to extend its life span.
During the week, I rotate my small fuel storage by emptying the next jerry can into my truck’s gas tank and refilling it with fresh gas. The tricky part is picking the day when the price is the best.
Power
Hyperinflation is skyrocketing electric bills, so if you want a reliable 24/7 power source in your backyard, you should definitely have the Modular Backyard Power Plant. You’ll become energy independent and never have to rely on the power grid or be at the mercy of the power companies in the case of a blackout.
This Backyard Power Plant runs two chest freezers, a moderate-sized refrigerator, lights, satellite TV, satellite Internet, a desktop computer, a water pump, and many, many other items.
Having your own reliable source of energy can definitely save your life in a crisis.
Paper Products
COVID taught us that panic buying would empty store shelves of the most unexpected items. It never occurred to me that toilet paper and paper towels would become so valuable that they could almost be considered currency.
Remember what we saw during COVID, and keep a healthy stockpile of toilet paper and paper towels on hand.
Seeds
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.
Seeds are also a fantastic barter item that will significantly benefit others more than many supplies we would usually save for bartering.
Dry Goods And Canned Food
Most of us have food stored away, but when we rotate out the older items, we still have 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. It is probably a good idea to start buying a couple of extra canned or dry goods each time you go shopping.
Related: What Is the Best Canned Meat?
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.
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. In order to barter with people desperate for their vices, keep a carton of smokes and a few bottles of alcohol on hand.
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.
Meat
Meat prices have increased at the grocery store as well. 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.
Take advantage of all the hunting opportunities your area provides and fill the freezer as much as you can.
Ammo
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.
Medical Supplies
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 six-month stockpile of any prescription medications that you need.
Related: 6 First Aid Skills You Should Know Before A Crisis
It is also a good idea to stock up on over-the-counter pain medications. Recently, my country’s supply of over-the-counter pain medications completely dwindled. In hyperinflationary times, these types of medicines could be too expensive for many people due to supply chain issues.
Gold And Silver
The advantages of gold and silver during hyperinflation are significant. Gold, silver, and other precious metals are not tied to fiat currencies, so they are not affected by the failure of those currencies since they are precious metals with a long history in the human race.
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.
You may also like:
How To Store Food Without Electricity That Can Last Up To A Year (Video)
20+ Must-Have Seeds For The Upcoming Crisis
How To Build A Cheap Bunker In Your Backyard
7 DIY Stoves You Can Build In A Crisis
