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Hyperinflation and best ways to mitigate it

Investment discussion for beginners. Why you should invest your money, get help getting started
Avi777
Posts: 5
Joined: February 23rd, 2021, 10:10 pm

Hyperinflation and best ways to mitigate it

#389351

Postby Avi777 » February 23rd, 2021, 10:21 pm

Hi,

Apologies if this is the wrong forum to post this. Obviously with what is going on in the world I have for some time been very worried about the economy, namely the potential for hyperinflation as Germany experienced in 1923.

I am wondering if people had some general pointers with what to do with spare cash in bank accounts and morgages in order to prevent them from being wiped or locked out by banks closing the doors. I am resident in the U.K. so if anyone has any general advice it world be helpful.

Obviously I’m hoping it never gets to this.

Thank you

1nvest
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Re: Hyperinflation and best ways to mitigate it

#389375

Postby 1nvest » February 23rd, 2021, 11:44 pm

Currency diversification. Gold.

For instance a third each in a UK home, US stocks, gold.

Avi777
Posts: 5
Joined: February 23rd, 2021, 10:10 pm

Re: Hyperinflation and best ways to mitigate it

#389380

Postby Avi777 » February 23rd, 2021, 11:58 pm

Yes sorry for sounding stupid. Buy it on the normal stocks? What happens if there’s a giant collapse ?

mc2fool
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Re: Hyperinflation and best ways to mitigate it

#389386

Postby mc2fool » February 24th, 2021, 12:36 am

Avi777 wrote:What happens if there’s a giant collapse ?

A cabin somewhere remote.
As much rice and dried beans as you can store in it.
A rainwater collection system feeding the biggest water butt you can get.
A shotgun and ammunition.
Gold.

:D


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