So, should I buy a ridiculously big computer I don't need or three very cool bicycles I don't need either?
The other option is buying fucking foreign currency.
Bury gold in the woods.
Gold actually isn't a bad idea if you're looking for an inflation hedge. It's fairly accessible, too, unlike other recommendations like real estate. Keep in mind that unless there actually is hyperinflation you're probably going to comparatively lose money on the gold, it really is a hedge only.
PC parts depreciate rapidly, kind of like a car. Many will lose 80-95% of their value within a decade.
The other question around hyperinflation is whether you want to stay in the country in which it's happening. A plan to bail might be worth more than anything else. How would you leave? Who would you want going with you (talk to them)? How would you get employed at your destination?
Having a bulk stock of beans, rice, etc are a good way to have something like a "delay" button on food price increases. You can have 6 months of food ready at any given time, giving you 6 months of "oh shit" planning time where food isn't a worry. 6 months of beans and rice costs something like $100 including 2 proper storage buckets.
Also, don't forget to be socialist about it. Organize with a local party. Help set up mutual aid programs and stocks. Imagine having that 6 months of food supply but it was enough for your entire neighborhood and you could dole it out collectively. Imagine having the communal capacity to even partially push back on austerity. So much better.
I mean, burying gold worked for Hugh Neutron until his son dug it up to build a hovercraft
After many years of precarity I finally managed to save up a half-decent economic buffer this year. Yay.
Argentina and Turkey :yea:
I bought some Euros and Dollars myself, Fed is likely to keep raising rates.
If the things you planned to need are imported, pinch your nose and buy those god-forsaken dollars.
If the things are not imported, I always suggest people use the 'caja de ahorro UVA' secretly offered by Banco Nación and Banco Provincia. You put your money there, it automatically gets adjusted by the inflation index published INDEC (and an extra 2% on top in the case of Banco Nación). There's no volatility, it's not affected by the market crash of the month; the only complexity is that you have to go in person to open it and the money gets locked for three months after you send it. But they even give you a debit card, after the three months are over the money keeps getting automatically adjusted for inflation but you can use it as if it were in a normal bank account. It's very convenient.
Sure, thats what I've been doing, but I think we are on the verge of "uuuuh yeah about those UVA-bux, well, bad news for you"
I don't think they have a reason to default on peso-denominated debt. It generally doesn't make sense to do it, but Cavallo and Dujovne both did this anyway to keep the money funnel to the US working for just a little bit longer so their friends could also get out.
The funnel is already out of order, defaulting on pesos could only make it worse; I'm not convinced what would be the point.
Diversify your investments, guns and ammunition are a safe bet.
Yeah its weird. On top of buying shit I don't need at the moment I'm buying shit on credit which I hate doing normally but I figure anything I can get 0%-5% interest on over the next year will probably save me money. It's a pretty stressful gamble though. At minimum I'm trying to really stock my pantry cause food prices rise even faster than the rest of inflation.
No fucking way I ever take on debt while I can avoid it.
Sure sure, people do the math and it's better to have 15 credit cards or some shit like that. I'll never have a credit card.
I've only got two cards I've had for years and a decent credit score so fairly low interest. If you work the math and payments right you can end up saving a fair amount of money through cash back and various promotions. I tend to get like $100 a month in net savings, with inflation skyrocketing I'm gambling on that going up.
Both my cars are over twenty years old so note and not worth selling at auction and creditors can't touch your house in the state I live in so even if I'm wrong I'll still be able to survive.
I bought some modest computer parts because my system starts to crash every program once I've run it without restarting for 2-3 hours as every component in there is the better part of a decade old.
