Bottom line is mixed blessing: 2011 will look a lot like 2010 with rising GDP growth, more attractive credit opportunities and volatile but rising equity markets biased toward Asian growth and continued de-leveraging in the West.
The worst non-war time inflation in hundreds of years occurred in the decade after the U.S. left the gold standard in 1971 as the Federal Reserve was more biased to promoting growth than containing an oil-shock (sound familiar?).