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NIA continues to educate about dangers of hyperinflation

June 3, 2009 by  

NIA continues to educate about dangers of hyperinflationThe National Inflation Association has issued new warnings about an impending rise in inflation and provided more suggestions about protecting families and assets in difficult times.

For a long time, the organization has been encouraging Americans to invest in gold and avoid holding their assets in U.S. dollars.

Now it also suggests moving away from major cities and into a less densely populated area may be a good idea because when prices start spiraling out of control, leading to food scarcity and a law and order breakdown, there will likely be a massive exodus from cities.

"With food prices likely to soar most during hyperinflation, agriculture will be the best business to be in for decades to come," the organization predicts.

"Consider going to a farming school, or at least practicing how to plant a garden," it adds, suggesting moreover that skills such as sewing to make own clothes may be very useful during hyperinflation.

Moreover, learning to be frugal – which may include cutting out coupons and saving energy by switching off the lights when leaving a room – may also prepare families for future privations.

On the positive side, NIA sees investment opportunities in precious metals or agricultural products companies.

Stressing that gold is on its way to break the $1,000 per ounce level, it advises that, "the mainstream media won’t begin recommending the investment into gold until it reaches $2,000 per ounce, at which time a mania will begin that will be bigger than the dot-com and real estate booms combined."

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