There is actually a system built into Hive already for the scenario where the dollar going into hyperinflation - the way it works is that if the HBD debt to cap ratio were to go below a certain limit, the peg will treat it as if it's exactly at that limit. Thus in such a scenario there is a limit to how much purchasing power the HBD could lose.
Additionally, if the dollar is in high but not hyper inflation, Hive witnesses can increase HBD interest rate to compensate for that.
Ah, thank you for clarifying that for me!
On top of that, it wouldn't even take a hard fork to repeg to another stable measurement of purchasing power. If witnesses agreed, they could repeg to a certain amount of euros, pounds, swiss francs, or even a certain weight of silver or gold.
Hmmm, Hive Backed Euro in our future? The way my government is printing USD, it seems likely.