I believe Rickards is correct that it's impossible for the US to grow and tax enough to cover the contigent liabilites they face so they will inflate at least half away by sacrificing the dollar in what they hope will be a controlled retreat. But the US has one other option which is total debt default but it's highly unlikely they would pursue this policy as it would be tantamount to world financial armageddon.

The markets certainly senses this and sees this in the actions employed by Washington and the FED. They will never admit this strategy as this would mean instant dollar collapse but they will suck many people into their game over the coming decade. This means treasuries will be toxic and so will holding US dollar cash. Gold and commodities will be the place to be to preserve wealth and this applies to physical and stocks.