I've known hyperinflation was coming for awhile. I've planned accordingly in most areas. I say most areas because I realized a trap that I am in and that likely many of you are in.
My thoughts up to this point have been that hyperinflation hit food would get too expensive to purchase, homes would be too expensive to purchase, etc.
These things you can prepare for:
Try to grow more of your own food. As much as you can manage.
Acquire things that other people will be willing to barter for. Not just metals, but things people may actually want. The value of most things should increase right along with hyperinflation.
Get your home, cars, etc. before they become too expensive to purchase.
Okay, so that may seem good. The trap is in #3.
Every year you are likely taxed on property. Some places your cars also have an annual tax on their value.
The key is that tax is based upon their assessed value.
So if hyperinflation hits and the value of your house suddenly increases to 10x or even more it's current value you may not realize that the taxes you owe likely increase equivalently.
Are you ready for those huge property tax bills that suddenly come in the wake of hyperinflation?
Are you ready for when they seize your property because you cannot afford those tax bills?
That is the trap...
How do you plan to prepare for that situation?
Where I live, property taxes are capped as far as how much they can increase per year. At least for your home. Businesses and property that isn't your primary home is another story. Fortunately, my home is almost paid off and I don't anticipate needing a new vehicle for a long time. Of course, I suppose there is the question of whether gas will be affordable...
I'm glad you pointed that out. Missouri (where I live) has a limit as well of 2% per year max increase if the property doesn't change hands.
Well man, down here in Brazil after 4 years I own my car that's almost fully paid, and putting my savings on BTC and on Gold, to likely in a couple, or three, four years, to build a house without needing a big loan.
It's still affordable to buy it that way down here I think.