Do prices go up, or does the dollar go down?
It really doesn't matter. If you see inflation coming, buy commodities. These concepts are way more simple than people understand. If you buy silver, for example, and silver doubles, did you make any real money? That depends on only one real variable. If the dollar did anything less than get cut in half, you lost money relative to that metric. Just because you got more dollars does not mean you got more money! But hedge yourself across a number of possibilities so that when/if the dollar dwindles/collapses you have way more dollars to show for it. Way more cheaper dollars is worth a lot more than way less cheaper dollars.