It is important to realize that currency devaluation is a worldwide phenomena and not just limited to the US. In a very real sense the world is undergoing a 'currency war,' in which competing countries actively seek to cheapen their respective moneys. Take for example recent news from the EU, in which European Central Bank President Jean-Claude Trichet stated, that the EU bailout, already one trillion dollars in size, should be increased. This bailout is just one more nail in the coffin for the Euro.
Historically, the average life span of fiat currencies is 40 years-I would seriously consider taking the under on the Euro (at least in its current form).
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