it is not true that floating rate standards invariably lead to hyperinflations. If that were true, we’d have hyperinflation all the time. And it is not true that the ability to “print money” through keystrokes necessarily leads to hyperinflations. All sovereign governments that issue their own currency spend by keystrokes. Even if they promise to convert at a fixed exchange rate, they still spend by keystrokes. If keystrokes invariably cause hyperinflation, we’d have hyperinflation all the time. We don’t. Hyperinflations are unusual outcomes.
Main.hyperinflation
