@ Seeking Alpha:
"We are starting to see the Fed get serious about monetizing the debt. The talking is over and the direct impact on the market is now under way. At $12 billion in purchases every week, this means that for the next 25 weeks or so, the Fed will be entering the Treasury market acquiring more securities. And, this doesn’t include the provision to purchase mortgage-backed securities in large dollar amounts."Since the time that the UK invented public debt, it's been the same story. Either the real economy will revive to absorb the monetization or it won't. If it doesn't the value of the dollar will go down. If it does and global economic development stalls the value of the dollar will go up. If global economic development grows, the value of the dollar will be relatively stable. But it's not going back to the old days.
The long cycle is that the center of the world economy is moving back to Asia, after a 400 year interlude in the West. The monopoly of energy-as-oil is starting to fragment. The Euro Centric vision supported by European currencies is starting to evolve into whatever is going to be next.
It's just common sense, systematically applied.