Governments everywhere print money to make payments [of course it can't pay for EVERYTHING, hence debt/deficit spending]. The value of that currency becomes less. Inflation in simple terms.
My "simplistic" view...
Inflation is caused by the US printing more to pay for things domestic like debts and to restabilize bad banks, automobile industry, and some corporations.
The devaluation of the dollar in the international market is due to speculation and again printing $US to pay debts and flood other countries. The article IS correct in that there is no other viable currency to trade in, not even the newer Euro, or anything else that will be invented anytime soon [virtual currency?].
When I was living in the Philippines, common people were happy when the dollar rose in value. Even when I explained to them that the value of the Peso and the Philippine economy is falling! This was 30 years ago, and is still true today. The common person, as well as countries, hoard $US!
The motto of $US is "In God we Trust" but good luck iin getting what you are owed FROM God. Jesus said "Give unto Ceasar what is Ceasar's'" so you are up the creek there!