The concept itself needs a tighter definition. People bring up Weimar Germany, those that compare us to them rarely mention that the Weimar government owed crushing WWI debts incurred with the assumption that Germany would win the war and impose reparations on its opponents. Didn't work out, Germany lost and still owed those debts in hard currency with reparations thrown in on top. How is this different than us? Our debts are owed in our own currency, which is not artificially tied to a relatively scarce commodity (gold). Our economy is the globe's largest and most powerful, Germany's was devastated by the war, the loss of 2,000,000 men killed and over half of their 13 million man army counted as casualties.

Germany attempted to buy foreign currencies and gold to pay their debts by printing mass quantities of Marks. We pay ours in dollars and given the political realities of the globe people are anxious to bank their cash surpluses in U.S. Treasuries, often willing to pay for the privilege.

Almost without exception, countries that experience hyperinflation have corrupt and autocratic governments, huge problems with their economies, overdependence on single commodities to fuel those economies, and of course are bit players on the globe, not prime global powers.