I think a sustained inflation of 10 - 20% over a decade would probably be more likely. It would keep the financial system intact while erasing our debts. Unfortunately, it would also lower our standard of living considerably and our national credit score would drop but it would lead to a revamped export sector as our labor becomes much cheaper(especially when combined with our massive accumulation of capital). I can't imagine the Fed committing suicide by creating +1000% inflation. I don't think it's in the self-interest of the Fed and major banks to completely wreck the largest economy in the world.
QE3 is HERE! Hyperinflation time babyyyyyy
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