Portfolio manager Axel Merk tells the WSJ the Fed may not have an exit strategy

"'With access to credit limited, and the $3 trillion or so in U.S. debt likely to be purchased somehow — regardless of the price — other weaker nations will find it harder to sell,' says Axel Merk, president of Merk Investments. 'Will the U.S. dollar benefit? Bernanke’s view that currency devaluation may be beneficial to economic growth speaks for itself,' writes Mr. Merk. 'But even if there are no active efforts to debase the currency, we are cautious about the U.S. dollar. That’s because we simply do not see a viable exit strategy to all the money that is being thrown at the system.'”