hyper-infaltion and consequences to oz

I have been making an effort to read quite a bit about possible hyper-inflation in the US. I think its fascinating and alarming. However I am still unsure how a period of extreme/high inflation would effect inflation/deflation within Australia and other countries. Do any others have knowledge as to what might occur?

I understand that Gold would typically rise in any extreme (inflation/deflation) but my concern is with Australian interest rates.

G