Sarkozy takes G20 case to Obama as food prices soar

Inflation, specifically in food and energy prices, is exactly why the world is angry at the US for quantitative easing and loose monetary policy.  Yet, our government officials continue to induce fear into the American public about the ravages of deflation, in their drive to create inflation in order to stimulate the economy.  In my opinion, this will go down in history as one of the worst blunders in American financial and economic history.

When and if the USDollar loses its status as the global reserve currency, Americans will quickly find out currency debasement will be the dominant cause of their diminished purchasing power.

http://www.reuters.com/article/idUSTRE70664T20110107?pageNumber=1