@miscreanity: Other nations have their self-preservation plans that involve cutting Europe and the US loose, leaving them to sink or swim lest they drag the world down - inflationary effects coming from the EU and US will be retaliated for from those countries damaged by them (as we've seen from even the Swiss, the choice will be independent inflation methods).
Doesn't the swissy peg contradict your point? The USD was not drowning because of CHF appreciation any more than a boat forces sea levels to rise. The SNB only transfered potential wealth from its own importers and savers (and foreign speculators) to its own exporters. China has been depreciating its currency via USD/UST and is now appreciating a bit at the expense of exports to the US and EU but China's economic growth is still dependent upon the northern/western economies. I don't see any nation sufficiently independent of USD+EUR to swim freely. Economic freedom means to me allowing currency to appreciate and reap the benefits of global wealth rather than reacting as productive slaves to the consuming masters.
Bingo. Tax rates have already begun to see diminishing returns, so the "invisible tax" has to be ramped up. And again, dead on: Bernanke holds a pseudo-political position. He could be discredited and replaced in an instant if he bites the hand that feeds him.
Dominique Strauss-Khan, anyone?
THIS is fascinating! a conspiracy theory with juice and teeth!
The US is chip leader and plays its cards remarkably well. Its debt to GDP and deficit to revenue are comparable to the piigs but somehow the bluff is working. Money is irrationally folding into USD+UST, a bubble if not for the imminent pop across the Atlantic.
Ultimately I see this playing out two ways with the same effect. Either the euro collapses and USD is king or the ECB gains dictatorial powers a la Fed. In both cases the masses become poorer and the banks consolidate control. The only question is whether the paper will be green with dead heads or also include rainbows and bridges?