"Infinite currency printing results in the dilution of their value and eventually, our purchasing power reduces significantly over time as it leads to inflation. When this situation gets extreme, we get Hyperinflation and people lose complete confidence in the currency resulting in them becoming worthless."

Complete nonsense. As long as the real resources and labor the currency is spent to purchase exist and can be purchased in the denomination the issuing government can create at will inflation is not an issue. While banks can create inflation with "credit", the ability to retire that credit is solely determined by the amount of currency in circulation, as we saw in '08.

Only the currency issuing government can create a store of value in net terms by spending more than it takes back in taxation. Without deficit spending real economic growth is not possible and the economy will actually shrink in net terms by the interest charged by banks.

The ability of the government to spend is not dependent upon its revenue or its past spending. With a sovereign fiat currency the government will always be the price setter for resources and labor in the economy. Prices of goods will rise and fall with their availability, but never because of some predetermined quantity of currency in circulation.

A wheat shortage may increase the price of bread but will not cause the price of butter to rise because the government issues more money to allow us to purchase the more expensive bread. The best way to avoid inflation is to elect a government that uses its power of the purse to assure an optimum productive capacity.