Oh, they'll switch. I don't know if it'll be to the Euro, but they'll switch. Right now our policymakers are throwing the kitchen sink at stopping asset price deflation. Employing inflationary policies to counter both moderates the severity, and delays the turn. But since we're in crisis mode, we're not doing any planning around how we're going to remove the inflationary policies when the time comes.

Combine that with massive fiscal deficit, and you have a recipe for inflation and dollar devaluation. It's played out exactly this way many times in many parts of the world throughout history.