Can you have a billion percent inflation and this still holds true?

Yes it works fine... except for the poor saps that weren't controlling the inflation.
If my one coin turns into a billion coins... I still have a billion coins.
I'll actually have more than 1 billion because I'll have siphoned value from the liquid holders.

I would be interested in hearing more about this.

I'll do a post on it tomorrow.
Will be good to get it down on-chain.