Agree that there can be a positive feedback cycle involved in the decline of fiat currencies (and resultant rise in prices). I guess a few of the questions that I am trying to address are (1) why does fiat money have value in the first place, (2) what determines that value of fiat money, and (3) what triggers a mild decline in a fiat currency such that it leads to 5-10% type inflation versus a collapse in a currency that leads to 50%+ type inflation?

After all, not all declines in currency value lead to “hyperinflation”, e.g. US in the 1970s. If it is as simple as “positive feedback loop” then why didn’t the US experience hyperinflation in 1970s?

http://howfiatdies.blogspot.com/2014/08/positive-feedback-theory-of.html
http://howfiatdies.blogspot.com/2013/09/hyperinflation-explained-in-many.html
http://howfiatdies.blogspot.com/2013/03/simulating-hyperinflation.html