As far as I know, deflation cannot cause inflation. Maybe the governments response to deflation (print money!) can cause inflation, but the destruction of value

As far as I know, deflation cannot cause inflation. Maybe the governments response to deflation (print money!) can cause inflation, but the destruction of value and the reduction of the money supply cannot cause the overvaluation of assets or an expansion in the money supply, except through government action. Of course, it is true that hyper-inflation, if it happens, will happen quickly. People will be, as you say, hoarding their cash because of uncertainty. But when they become confident enough to borrow from the banks again, and the large reserves they have been stockpiling hit the fan, it is quite possible that people will quickly notice the change in money supply, and react by trying to get rid of their money too. Which would set off hyper-inflation. But this hyper-inflation is not caused by deflation, but rather by inflation, which people may not notice because of their presently high hoarding rate.