China, among others, frets that the U.S. policy stance will debase the dollar, the lynchpin of the global economy.

This week, Boston Federal Reserve President Eric Rosengren admitted that the latest quantitative easing broadside would debase the dollar.

Among their concerns is that the bond buying would cause a surge in inflation and debase the dollar, fears that have failed to play out.

Federal Reserve running out of taboos to break One regional head of the U.S. central bank admitted the latest QE broadside would debase the dollar.

Its ultra-low interest rates and money printing favoured gold by debasing the dollar.

When it popped, quantitative easing debased the dollar and ultra-low interest rates reduced the opportunity cost of holding gold.