Survival during Vietnam Hyperinflation

I wrote this on another thread and it was suggested that I put it on a separate post. So, I ask my mom to get more accurate info regarding what she actually did during hyperinflation.

When I was a kid, I remember buying some string to fly a kite for 4VND. Some kid brought from me for 5 VND. I sold it and was so happy then went back to the vendor that week and it cost 9 VND.

She would buy gold as soon as she accumulated enough money. At the start of the inflation she accumulated about 40 gold leaf bullion(about 20 ounces) My mom only has a third grade education but we live better than doctor, professor or whatever. Thank to her, I did not suffer the same misery that many other kid did. People get pay more paper money, but not enough when compare to rising value of gold. 40 gold leafs were so much wealth compare to what she would have made if she worked, she basically retired. There was no reason to work.

What was the transaction like?

She would take the gold leaf and sell part of it like1/10 or 1/20 of the leaf. The dealer cut it and return the leaf or make the 9/10 in to 9 generic gold rings, depend on what she want. She told me that she use the same dealer but other dealer also recognize those ring as 1/10 of an leaf.

Since paper money hold value in the short term, she would buy useful stuffs. We had a locked windowless room where I was not allowed but I remember getting an occasional peek. She stored rice, cigarette, even toy, stuff that people want, last in value and durable. She would trade them for money as needed. There was plenty of trader that would resell them.

It does not sound like much but I actually ate well at the time. I remember eating real rice, meat, ice cream, chicken was on special occasion. Where as, other kid ate rice occasionally, substitute some other type grain for rice, spinach, meat was a luxury.

When I move to the US, she was allowed to sell one house. I remember seeing the buyer gave her a large gold ring. She told me that it was a payment and she got 2 gold ounces for the house. Her other one was confiscate by the government. I remember my uncle stripping down the house for any valuable part before we turn it over to the government.

By the way, I came to the US via a family reunification program. My mom bribe government official with 1 ounce to speed up the paper work "let us leave". She did not try to take gold out of the country because we have relative. But people would embed gold into blanket and clothing, then bribe inspector to let them take it on the plane. That what Viet Nam was like back in 1984. I hear that it is much better now due to the government embracing of free market.