How do you prepare for the coming future?

[Alfred Bell]

Ok. We are in deflation now, and we don't know how long it is going to last.

Because of our government, we know that eventually interest rates, taxes, and inflation are going to go up, up, up. The most important prices for the average American—food, utilities and energy prices—are going to soar. This inflation will really devalue the dollar, reducing its already low purchasing power even further. We could even have hyper-inflation.

This inflation (and the big price increases) could begin in 6 months, 1 year, 2 years... there is no way to tell.

What does one do? What are the rules to follow when heading for a high inflationary period (possibly an inflationary depression)? How do you prepare? What is the ideal situation to be in so that you can make it through these upcoming tough times? How do you maintain a decent standard of living? How do you maintain your existing wealth?