BRIC Leaders Pledge to Boost Trade in Local Currency

This signals the continuation of a disturbing trend (as least for Americans' standard of living):  sovereign nations, specifically in emerging markets, are diversifying away from the USDollar as a transactional currency--despite its still tenuous status as the global reserve currency.

http://www.bloomberg.com/news/2010-04-16/bric-leaders-pledge-to-boost-trade-in-local-currency-as-meeting-shortened.html

Translation: with trading nations abandoning the USDollar as the currency of choice, expect further dollar debasement, higher inflation, and a reduced standard of living for Americans.