USD will slide until, there is a media hue and cry over Chinese Japanese etc using their USD to buy US assets cheaply. At that point the US govt will have to stop their strategy of letting the dollar take the slack in the debt boom, and put it back to an increase in interest rates (or currency controls/protectionism)
US Treasuries are paying a negative interest rate, but they are seen as a flight to safety refuge, especially if you are holding mortgages. The Chinese and Japanese are no longer fixated on buying US Treasuries, but are looking around for something that will help their economy grow. Ok they could take the interest rate to zero, but why would they want to restart a bubble. Well elections are coming up and as good public servants they want to look good
If the Fed swaps US Treasuries for car/home debt then they have debased US Treasuries
