The secret to surviving hyperinflation is to get as much of your wealth out of currency and into things you can actually put your hands on. Since hyperinflationary periods throughout history have traditionally lasted 1-2 years, it makes sense to invest in1-2 year supply of consumables like food, cleaning products and personal care products. Start with the barest of essentials like: flour, sugar, yeast, beans, rice, cornmeal, cooking oil, dry milk, baking soda, vinegar, salt, oatmeal, baking powder, canned goods, shampoo, soap, laundry detergent, canning lids, canning jars, to name just a few. Add to this list anything that you personally consider essential.
Knowledge is power. Know what you would do if the grid and products produced from oil were no longer readily available or if you could no longer afford those services. Think about what you would do if you no longer had access to the grid for an extended period of time. What are some things you can do to eleviate your situation? Creating a battery bank now (while lead prices aren’t too outrageous) and a solar set up might be a good option. In our area, wood is plentiful so part of our energy plan is using wood for heating and cooking. Planning to use a generator and gasoline might not be a good idea. Gasoline doesn’t keep for extended periods very well, even with special additives. Do a google search on alternate forms of energy and discover what alternatives you could have available to you.Transportation is another important consideration. Fuel for personal automobiles and mass transit might no longer be available or the price might be prohibitive. Consider what you would do if you had to walk or use pedal power to get around. What would you do if water was no longer available via utilities. What would you do for water? If the grid was not available and you have a well with a pump that runs on electricity, what are your alternatives? What are you going to do about refrigeration? A freezer full of food becomes a rotten mess without electricity.
Discover the art of bartering. Make a list of the skills you already possess and those skills you would like to develop that would be good to trade for other goods and services. Think basic needs, think recycling to provide for basic needs. Skills in naturopathy or skills with using herbs for healing are likely to be considered basic needs in the near future when access to doctors and hospitals become prohibitively expensive.
Learn sustainability skills like gardening, seed saving, and animal husbandry.Learn how to do your own plumbing, car maintenance, grow small fruits like strawberries and raspberries. Learn responsible wild-crafting.
Convert your currency related assets into tangible assets. At the very least, trade your dollars for pennies which are copper. (From what I understand right now–December 6, 2010–Silver coin is an underpriced asset so right now might be a good time to buy silver.) If I had the money, I personally wouldn’t be in the stock market right now, no matter what the numbers say.
The question is no longer if hyperinflation will occur, it’s when will it begin. Begin preparing now for the inevitable.