Rob Raskin of Las Vegas, here to talk to you today about what to do in a hyperinflationary environment. If you are paying any attention to the Federal Reserve, you’ll know that it’s only a matter of time until hyperinflation destroys the dollar. Many stories of people living through hyperinflation can be seen in the news, and if you are interested in protecting your wealth, this is one scenario which is sure to keep you up at night. However, by guarding against inflation today, you can be ready to profit from it tomorrow.
What is Inflation?
Inflation is the decline in value of any currency in relation to goods and services. This can happen when a central bank turns on the printing presses, either to pay down a debt or to buy off supporters with free money. Either way, it spells bad news for those who have saved diligently and built wealth over a lifetime. This is easy to accomplish with fiat currency, as it can literally be printed as a central bank decides. Diversifying your wealth can protect you from many of the risks inherent in fiat currency.
How to Diversify
Instead of holding all of your wealth in currency or dollar-denominated assets, you can diversify toward a wide range of useful items which will be in demand in any post-dollar world. A few of these are
- Machinery or tools
- Guns and ammunition
- Fuel or energy sources
- Rare and precious metals
- Construction materials
- Luxury goods, such as cloth
- Knowledge and information
While you can build wealth in dollars, the wise survivor knows that this can disappear overnight. Hard, durable goods, however, won’t lave unless you decide to part ways with them, and can instead [produce more wealth for you in the meantime.
Finding the best ways to diversify will depend on your needs and the situation you are preparing for. You must continually re-evaluate these in order to make the right decisions for yourself and your wealth.