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Many years ago in my South American country, I had to deal with 2000% inflation in 1 year. It is absolutely devastating for most people, but the top 10% in inco

Many years ago in my South American country, I had to deal with 2000% inflation in 1 year. It is absolutely devastating for most people, but the top 10% in income had easy access to special investment instruments allowing them to lose nothing and even profit from the inflation. Does Turkey have anything like that?

samstave 4y ago
Every single country on the planet has exactly that.
marvin 4y ago
Wouldn't it be as easy as having money invested with a foreign broker? Granted, this won't work if capital controls prevents money from easily flowing across the border, or if your country is sanctioned.
- redisman 4y ago
  That’s assuming that you have significant money to put into savings. Most people live paycheck to paycheck so that will only protect 5% of their income that they can spare to put away. Ideally you could get paid in a stable currency
ajsnigrutin 4y ago
Dude, yugoslavia, 313 million percent in a month (jan 1994) I live in a part that was already separated back then, but I'm still a billionaire, since I have quite a few >1billion dinar notes at home.
- nealabq 4y ago
  At 64%/day, that's the third worst in this list: https://en.wikipedia.org/wiki/Hyperinflation#Ten_most_severe_hyperinflations_in_world_history https://en.wikipedia.org/wiki/Hyperinflation#Ten_most_severe... Also in the list: - Zimbabwe reached 98%/day in 2008. - Hungary reached 207%/day in 1946.
  - ben_w 4y ago
    We found a $1 Zimbabwe coin in my dad’s miscellaneous foreign currency Tupperware after he died. Surprising for a random Brit, but less so given he was a significant member of the Rhodesian Study Circle. Still, a Z$1 dollar coin was an amusing thing to find in 2014.
moneywoes 4y ago
How does one profit from inflation?
- warble 4y ago
  If you take a loan out to purchase a real asset (say real-estate, or something that holds value over time) for some amount, if the inflation goes up by 50% and you have the ability to make more money as you're earning money from outside the country, your load liability effectively goes down by 50%. So you're paying 50% less for that loan over time. This makes capital investments cheaper. This is just one example.
  - xtracto 4y ago
    Just make sure the loan is in fixed interest rate.
- deleted 4y ago
  [deleted]

samstave 4y ago

Every single country on the planet has exactly that.

marvin 4y ago

Wouldn't it be as easy as having money invested with a foreign broker? Granted, this won't work if capital controls prevents money from easily flowing across the border, or if your country is sanctioned.

redisman 4y ago
That’s assuming that you have significant money to put into savings. Most people live paycheck to paycheck so that will only protect 5% of their income that they can spare to put away. Ideally you could get paid in a stable currency

ajsnigrutin 4y ago

Dude, yugoslavia, 313 million percent in a month (jan 1994) I live in a part that was already separated back then, but I'm still a billionaire, since I have quite a few >1billion dinar notes at home.

nealabq 4y ago
At 64%/day, that's the third worst in this list: https://en.wikipedia.org/wiki/Hyperinflation#Ten_most_severe_hyperinflations_in_world_history https://en.wikipedia.org/wiki/Hyperinflation#Ten_most_severe... Also in the list: - Zimbabwe reached 98%/day in 2008. - Hungary reached 207%/day in 1946.
- ben_w 4y ago
  We found a $1 Zimbabwe coin in my dad’s miscellaneous foreign currency Tupperware after he died. Surprising for a random Brit, but less so given he was a significant member of the Rhodesian Study Circle. Still, a Z$1 dollar coin was an amusing thing to find in 2014.

moneywoes 4y ago

How does one profit from inflation?

warble 4y ago
If you take a loan out to purchase a real asset (say real-estate, or something that holds value over time) for some amount, if the inflation goes up by 50% and you have the ability to make more money as you're earning money from outside the country, your load liability effectively goes down by 50%. So you're paying 50% less for that loan over time. This makes capital investments cheaper. This is just one example.
- xtracto 4y ago
  Just make sure the loan is in fixed interest rate.
deleted 4y ago
[deleted]