This is a good read, written in 2007, before Bernanke's QE1 announcement in August 2008. You can see front lines in our current currency war to materialize before your very eyes....
And today?
"Printing a $100 bill is almost costless to the US government," as Thomas Palley, a Washington-based economist wrote last year, "but foreigners must give more than $100 of resources to get the bill.
The exporting of inflation from the US to the rest of the world becomes the result. Charles de Gaulle's quote that "a rush for the exits out of the Dollar might just 'shatter the world' " still stands true today.