While I can't sign off on this entire report from UBS (I need to read it a little more carefully), I can support it's central thesis which is that while inflation is a monetary phenomenon, Hyperinflation is a fiscal one. Or to put it even more succinctly in my opinion, it is a political phenomenon. It's a loss of confidence in the ability of a country's political institutions. When those institutions begin applying irrational solutions to problems (imagine secretary of the Treasury Maxine Waters), a loss of confidence in the process being used creates hyperinflation.
To put this in the proper context with the much publicized Chuck Schumer / Ben Bernanke chat from yesterday, if someone is going to be creating hyperinflation, it's Schumer not Bernanke.