However a continued rise in the dollar will see increasing implications for overseas US$ debt which has grown in recent years as discussed by Ambrose EP HERE.
One of the FT's books of the Year Eswar Prasad's Dollar Trap discusses the issues.
The deflationary aspect of increasing US$ debt burdens highlights risks to the return of capital.
There are also voices questioning whether the Dollar's reserve currency status is good for the US.
Michael Pettis on the "exhorbitant burden" and other Pettis discussions
A Wall St Journal Article "How the Reserve Dollar Harms America" by Lehrman & Muellar (outside paywalls). WSJ letters counter their arguments regarding gold.
Jared Bernstein a senior economic advisor in the Obama administration recently wrote about "Dethroning King Dollar"
The "inevitable", "natural" rise of the dollar may see actions against it.
Bernstein - what was once a privilege is now a burden, undermining job growth, pumping up budget and trade deficits and inflating financial bubbles. To get the American economy on track, the government needs to drop its commitment to maintaining the dollar’s reserve-currency status.
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