OP-ED: HSBC bids farewell to dollar supremacy, By Ambrose Evans-Pritchard, Telegraph, 20 Sep 2009

Key bit:

Crucially, China and rising Asia have reached the point where they can no longer keep holding down their currencies to boost exports because this is causing mayhem to their own economies, stoking asset bubbles. Asia's "mercantilist mindset" of recent decades is about to be broken by the spectre of an inflation spiral.

The new order on currencies is coming--needed and inevitable.

(Thanks: Terry Collier)