http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/24_Former_US_Treasury_Official_-_Fed_Desperate_To_Stop_Collapse.html

  " The Fed’s ability to print can have a longer life than one might think.  Recognizing the dollar’s vulnerability from the printing press, Washington has convinced the Japanese government to help protect the dollar by printing yen and is lobbying the ECB to print more euros.  To prevent sharp appreciation in the franc, the Swiss have had to print francs in order to absorb inflows of dollars and euros.  Indeed, the Fed’s debasement of the dollar forces other countries to print also in order to protect their export markets.  When so many countries print money, it takes the pressure off the dollar.  What it means is that so much money is being created that the final blowout will result in a world inflation.  Unless the Chinese join the printing in order to protect their export markets, China will be set to take over the reserve currency role.  (Printing a currency causes it to depreciate relative to other currencies. If all currencies are printed, there is no relative change.)

In that event, what would finance the federal budget deficit?  Now desperate, authorities might seize bank deposits, not in order to bail out bankers but to bail out the federal government.  After bank deposits are pillaged, the remaining source of wealth to be plundered would be private pensions, or what is left of them after rising domestic inflation and interest rates collapse the bond, stock, and real estate markets."