ML-Implode News - Dethrone `King Dollar'

... research reveals that what was once a privilege is now a burden, undermining job growth, pumping up budget and trade deficits and inflating financial bubbles. To get the American economy on track, the government needs to drop its commitment to maintaining the dollar's reserve-currency status.
...
while more balanced trade might raise prices, there's no reason it should persistently increase the inflation rate. We might settle into a norm of 2 to 3 percent inflation, versus the current 1 to 2 percent. But that's a price worth paying for more and higher-quality jobs, more stable recoveries and a revitalized manufacturing sector. The privilege of having the world's reserve currency is one America can no longer afford.

Right-- since the dollar is toast, "that's what we really wanted anyways!" Kind of like a reverse-psychology spin to inevitability. At any rate, we doubt the benign inflations ramifications suggested here.

Relevant:

Dethrone `King Dollar' - NYTimes