sinclair heads up, page-16

Surely if QE is established and massive inflation causes the US $ to be much, much lower this would allow the US to compete with other ultra-low currency countries like China. If you can't beat em, join em. This would then cause other countries to try and lower their currecny in order to compete with a super-cheap US. The AUD would surely sky rocket in such a situation and our exporters would get hammered, leaving places like Brazil and South Africa all the cheap export minerals and a big empty hole in Australia since we pretty much only export what would then be very expensive resources. At least we will be able to buy stuff with our super high currency, for a little while.

Is that possible, or have I got something very much wrong?