It doesn't help that the euro has lost one-quarter of its value against the dollar since its launch.

BBC: Dutch business counts cost of euro

As most risk assets rallied, the U.S. dollar, one of the most important variables affecting the value of gold, fell.

FORBES: Bernanke And Draghi Add Fuel To Gold's Fire, Even Miners Rally

Though many still see an indirect link between gold prices and the value of the dollar, it is one based entirely on market forces.

FORBES: Magazine Article

Finally, Cain distinguishes himself by his understanding that a pro-prosperity monetary policy is one that first and foremost stabilizes the value of the dollar.

FORBES: Why I Support Herman Cain For President

They have flocked there for 30 years, especially recently, when the declining value of the Australian dollar made it one of the last places where they could enjoy a cheap holiday abroad.

ECONOMIST: What are Australia's priorities now?

Sir Nicholas picks a value for eta of one, which means a dollar is worth ten times more to someone with one-tenth of the income.

ECONOMIST: Economics focus

Of the seven currencies that make up the Federal Reserve's major-currency index, only one (the Australian dollar) is within 10% of its fair value.

ECONOMIST: The Big Mac Index

And, of course, there is one big way that QE can harm the economy: by reducing the value of the dollar, thus increasing both inflation and inflationary expectations.

FORBES: We Need QE3 Like We Need A (Jackson) Hole In The Head

One reason is that, although the dollar has fallen sharply against the euro, its broad trade-weighted value has fallen by only 8% over the past 12 months.

ECONOMIST: American interest rates

On October 1st alone, the value of the Iranian rial declined by some 17 percent, collapsing to 34, 700 to one American dollar. (It has since reportedly fallen still further).

FORBES: The Contours of Iran's Currency Crisis