After that eye-grabbing headline, perhaps some moderation is in order. First, I am not a financial advisor or investment expert, so take everything I say with a grain of salt; second, I am not predicting hyperinflation like Zimbabwe or the Weimar Republic, although that isn't completely impossible; and third, while there are wars and rumors of wars around the world, I do not advocate for state violence or violent revolution.
Some parts of the world are already suffering the ravages of war, and this could expand to the point of nuclear strikes, although I doubt this extreme will occur. Regardless of scale, war always causes the poorest to suffer most. We also face continued supply chain disruption, wage adjustments, and workforce disputes. I do foresee some economic chaos as more Asian and African nations start to shift from the petrodollar to the yuan, but of more immediate concern is the past inflation of the money supply under COVID policies around the globe as the effects continue to ripple.
How then do we respond to inflation, monetary warfare, and other disruptions? First, I advise against panic. We don't know how bad things will actually get, and we need to survive and even thrive in the here and now. Don't be like people who mortgaged their homes chasing Bitcoin FOMO, or the idiots who stockpiled toilet paper in response to COVID-19. My armchair advice:
Try to get ahead on paying bills. If something bad happens, and you have all your bills paid up a month in advance and debt is already paid down, it's one less worry.
Have a cash reserve. Money talks when networks go down, and it's a good general insurance policy to have an emergency fund set aside anyway.
If you plan to buy any durable goods, tools, or food stores, do so if you have the money to spare.
Build a deep pantry of stored food you actually use. Squirrel away a bit at a time and rotate stocks to maintain a reserve once you have a system established, so it becomes a self-sustaining process.
Diversify out of your national currency. HIVE is a good start in the cryptocurrency sphere. Dividend-producing stocks, precious metals, or foreign currencies may also be good options depending on your means and situation.
Diversify your skills. Learn something new and useful. Plan ahead for alternatives if there is infrastructure disruption so you can be the solution.
Last but not least, don't neglect community. Know who can help you in an emergency, and who you need to help out. Know who to trust, with whom to trade, and where you can travel. In hard times, more than ever, we need real grassroots connections in local communities instead of political counterfeits.
It doesn't hurt to remember how many predicted apocalypses have come and gone with little to no real effect. While the "Global War on Terror" and the 2007/2008 recession were bad, Y2K was unnoticed by almost everyone. Don't forget to live today while preparing for an uncertain future. None of us know what tomorrow will bring.
Additionally, don't let the big bad possibilities distract you from the basics. Make sure your smoke detectors work. Practice defensive driving. Review basic first aid. Prepare for common problems like power outages first. The world can be a big, scary place, but our lives are usually disrupted most by very small problems, and fear kills the joy and contentment we can have now. Wisdom doesn't worry needlessly.
