Out of all of the many disasters that you might prepare for, one of the least thrilling but most likely and certainly most devastating is a financial disaster.
Hyperinflation is one word that most financially-savvy people are familiar with, and also one that can make you shiver with the dread suggestion of it.
You might have plenty of money stashed in your piggy bank or in your checking account, but when a dollar suddenly buys only a dime’s worth and less all the time, you will be in the middle of a real economic collapse.
Having the right goods and other material preps on hand ahead of time can lessen the severity of hyperinflation, and this article will tell you what they are.
What is Hyperinflation?
For those unfamiliar, hyperinflation is simply a period of extremely high, accelerating inflation. Inflation is nothing but an overall increase in the cost of goods and services.
Hence, hyperinflation is inflation that is going really high, really fast. Hyperinflation is also a common (though not guaranteed) sign of a true economic depression.
But what does this mean to you? When the cost of all the things that you buy or pay to use, or any of the services that you pay for, become more expensive your money no longer goes as far.
Call it “diminished purchasing power” or anything else you want, suddenly your financial position is weakened.
As cost increases ever upward, you can find yourself priced out of access to many things you once took for granted.
Historical periods of hyperinflation have shown us with shock and clarity that fundamental, everyday goods like milk, bread, fuel, bandages, and more can become so expensive they are genuinely unaffordable by most common people.
This is why the best defense against hyperinflation is having the supplies, equipment and provisions you need on hand well ahead of time and in quantity enough to last through the crisis.
14 Things To Buy Before Hyperinflation Strikes
1. Precious Metals
One of the very best hedges against inflation, and a universally valuable asset. Precious metals have, can, and will continue to serve as genuine currencies in most societies the world over. Our fiat paper currency might be suitable only for use as kindling or toilet paper during a period of pronounced hyperinflation, but precious metals will remain meaningfully valuable.
The trick, of course, is investing in precious metals well ahead of time because you probably won’t even be able to buy them during a period of hyperinflation at any cost.
That, and making sure you have small enough denominations or quantities to make trade for equivalent quantities of needed goods straightforward.
2. Preserved Food
Every prepper knows that food is among the most important survival items for any situation, and it’s no different when preparing for hyperinflation.
It might sound strange considering that grocery stores will still be open, and society as a whole hasn’t been turned upside down by a mega-disaster, but the fact remains you won’t be able to purchase food the way you used to…
The ripple effect of hyperinflation will lead to massive shortages of many common staples, and what goods remain will be priced into the stratosphere.
Avoid this “Hobson’s choice” by keeping canned goods, freeze-dried food and other room-temperature, shelf-stable foodstuffs on hand in abundance.
At-home canning is another great way to pad your pantry against the perils of hyperinflation!
Just because the power grid hasn’t been completely destroyed by the event, don’t assume that you’ll have access to electricity. Chances are you won’t be able to afford it much longer when hyperinflation starts to ratchet up!
You can probably see where this is going. Getting your own electrical generation equipment can keep you and your family from being plunged into the dark, literally.
Gasoline, diesel and propane generators are mainstays, of course, but don’t discount the viability of solar and wind power for limited residential use.
All are technologies that will be similarly affected by hyperinflation, and in extreme demand from consumers.
Whether you are powering tools, vehicles, or the aforementioned generators, you’re going to need fuel.
Various liquid fuels are products with immense production cycles, dependent on many different industries to bring them to market.
Accordingly, they are disproportionately vulnerable to the effects of inflation, and hyperinflation will see fuel prices go right through the roof.
Like everything else on this list, you can make your life if not easier than a little bit less painful if you have lots of fuel on hand ahead of time.
The ease and efficacy of storing fuel is dependent on the type of fuel: diesel is better suited to long-term storage than gasoline, for one.
Gasoline, on the other hand, has a notoriously short shelf life without extensive treatment, and propane beats pretty much everything, lasting 30 years or more as long as its storage vessel is in good shape.
Whatever kind of fuel you need, make sure you get plenty of, and you know how to store it for the long haul…
If you don’t truly depend on wood for heating your home, you probably only think of firewood as it pertains to your fireplace, outdoor fire pit or maybe even your smoker.
But firewood will take on new importance during any period of hyperinflation because it will be one of the only fuels still commonly available. But, like all fuels, even the price of firewood will go up.
Even though wood can be found pretty much everywhere, it takes to turn it into an ideal fuel for a wood fire, a process called seasoning.
You’ll want plenty of firewood on hand just in case you need it yourself since you might suddenly be reliant on a wood stove for heating, but also as a commodity to trade and sell with others.
When times are tough and the chips are down, having a parcel of land to call your very own might make the difference.
Your land could be a commodity that you might sell if you are in duress, or at the very least provide you with a place to go if your current habitation is rendered unaffordable or otherwise uninhabitable.
You can also rent out your land, depending on the type and its location, for the grazing of animals, the parking of RVs, camping, growing crops and other pursuits for the duration of the crisis- potentially providing you with income where other revenue streams fail.
But, like everything else, the price of real estate will spike precipitously during hyperinflation. This is one thing you’re not going to be able to buy, in all likelihood, for any price under the circumstances.
Not everybody, everywhere, needs a motor vehicle but if you live in America you probably do.
Most places are so big and so vast, the only way you can reliably get from place to place on your own schedule is with your very own car. Or truck, or SUV, whatever you prefer.
Chances are good this is one thing on this list you already have, but if you don’t and you seriously want to be prepared for a period of hyperinflation, it’s time to get one now.
The production of cars and trucks will likely grind to a halt, and the pressure this puts on the secondary pre-owned vehicle market will take prices to unimaginable heights.
If you don’t have some sort of personally owned vehicle, you might have to make do with a bicycle, or even going by horseback if you want to get around on your own!
8. Spare Parts
Think of all of the appliances, tools, vehicles and other machines you use on a daily basis. Think about all the repairs you have paid for or replacements you have bought over the course of your life.
Do you remember what happened when that needed tool or vehicle broke down unexpectedly? Do you remember the chaos that caused and the opportunities you had to miss out on?
You probably do, but now imagine how much worse it will be if that replacement or those repairs cost 10, 20 or even 30 times what they usually do, assuming they can be found or performed at all.
Every prepper knows that having both the skills and the supplies to be self-sufficient is critical, and this is still true during a period of hyperinflation.
Having a supply of spare parts on hand for your vehicles, essential tools, and appliances can keep you in gear and operating when you otherwise might be brought to a screeching halt.
You don’t need to have every pin, spring, and screw in duplicate, but knowing your equipment and knowing what parts it typically requires when it does break down will get you started.
9. Hygiene Items
In any long-term survival situation, which hyperinflation arguably is, neglecting hygiene is a recipe for disaster.
Aside from making you feel, look and smell terrible, poor personal hygiene leads to increased instances of disease that can have very real consequences.
You don’t need to go crazy here, but having a good supply of hygiene items like deodorant, toothpaste, toothbrushes, soap, hand sanitizer, and all those usual “bathroom routine” items will keep you from paying the outrageous prices that these items will surely attain.
10. Baby Care Goods
Every single parent knows that no matter what you can never, ever afford to be without the things your baby needs to stay clean, happy and healthy.
That means diapers, formula, baby food, wipes, powders, and all that good stuff. Now, you might be scrolling on if you yourself don’t have a child, or don’t have an infant, but not so fast.
Remember what I mentioned above about other people potentially needing the things you have.
If you have these goods on hand, you might save the day from neighbors, friends or family members, or be able to trade for everything else you need from a stranger who desperately needs things for their little one.
Before you get the wrong idea, I’m not advocating that you wait out the crisis while sloshed or drunk out of your skull (although that is certainly going to be an appealing option for some people).
Nonetheless, alcohol is not only important for practical reasons, it’s also an excellent commodity during a period of hyperinflation.
Like most consumables and luxury goods in particular, the price of alcohol will soar, and as I alluded to there are some people that will do or sell anything to get their fix.
Those people will be completely unable to afford it over-the-counter during a financial collapse brought about by hyperinflation.
If you have their chosen liquor, or wine on hand, you’ll be in a very favorable trading position.
12. Tobacco Products
Tobacco products will fill a spot in your hyperinflation survival stash much like liquor and other alcohol…
Yes, it is a vice, but one that has perennial value for bartering, and you’ll handily be able to undercut other sellers and still make a pretty penny to help smokers get their fix.
And, you can have a clear conscience about it: no one truly needs tobacco to survive!
Don’t forget to keep dip and other tobacco products besides cigarettes, too.
When times are tough, the tough get going. But when the tough are going to do what they need to do to survive they’re going to need tools – and that means you need tools! Power tools, hand tools, garden tools and every other kind of tool you can think of.
These items are only so plentiful and cheap now because of immense supply chains that stretch around the globe and back.
It should go without saying that hyperinflation will put a stop to all of that, and quality tools will be even more valuable during this time of scarcity.
Of course, you’ll want to have plenty of tools just for yourself because you probably aren’t going to be able to hire any services that you need, remember?
But having extra tools to sell or barter with, or just a handoff to neighbors and loved ones, might make you the savior they didn’t know they needed.
14. OTC / Prescription Medicines
One of the very most valuable preps you can lay in for hyperinflation is medication.
Over-the-counter meds like cold and flu relief, painkillers, allergy meds and the like along with important prescription medications that you or your family members need will become extremely expensive assuming you can get them at all.
Going without might be painful or miserable, and for some of us who depend on life-saving medications for chronic conditions, it could be fatal.
Stocking up on OTC medications is simple; you’ll only need to take care to rotate your stash to make sure they don’t go bad or lose effectiveness.
Prescription medications can be more challenging because they will also go bad over time but also because you’ll need a prescription from a sympathetic doctor who understands what it is you’re trying to do without giving you the third degree.
Stocking up on meds is something that you must do if you truly want to be ready for hyperinflation.
Tom Marlowe practically grew up with a gun in his hand, and has held all kinds of jobs in the gun industry: range safety, sales, instruction and consulting, Tom has the experience to help civilian shooters figure out what will work best for them.