Why hasn't hyperinflation happened yet?

I like this guy.  He isn't into hype but he also isn't swallowing the Keynesian koolaide.

The reason we don't have hyperinflation is: 1) because we have a bond market denominated in our own currency, and 2) because the US dollar is the world reserve currency.  So before we would have hyperinflation we would have interest rates soar on our bond markets.  And also we would see foreigners abandon the dollar.