Inflation is at record highs, but it's nowhere near hyperinflation levels. Some examples of hyperinflation can be seen in Venezuela, Sri Lanka, and Zimbabwe. Venezuela especially stands out since it experienced the worst hyperinflation in history from 2013-22. Currently, $1 buys almost $60,000 bolivares, the Venezuelan currency.
There are many factors behind hyperinflation but every case has had this one common event: political unrest. For example, Venezuelan politics are polarized and many citizens view Venezuela’s government as illegitimate. Both, Nicolás Maduro and Juan Guaidó, claim to be Venezuela’s president.
The U.S isn’t exempt from this as many people think Biden stole the election from Trump and that Trump stole the election from Clinton.
One of the best ways to hedge against hyperinflation and political unrest is to buy precious metals.
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