The following are current events that I have compiled which I believe are indicating a major movement away from the US dollar:
Russian central bank diversifies into Canadian dollar. Quote from the article: "Analysts said the move could be a sign of increased diversification of emerging market central bank assets away from the dollar and into investments denominated in other commodity-linked currencies..."
China encourages its citizens to own gold. It was illegal to own gold in China up to 2002. Recently the Chinese government ran TV ads urging citizens to consider purchasing gold. Gold can be purchased at almost any bank in China.
The FED prints over $1.4 Trillion in new money to rescue banks. This money has not been multiplied by the fractional reserve ratio....yet. Banks have taken the cash and deposited the majority of it at the FED.
In 2009, the US government financed over 40% of its expenditures with debt. Most of the money was borrowed from abroad or purchased with newly printed money from the FED. The US government will need to borrow at least that much for its planned expenditures in 2010.
Nations now openly hostile to FED money printing. After the FED announced the printing of another $600 billion to purchase government debt, many nations openly criticized the move. Many nations are considering implementing capital controls so all those new dollars don't wreak havoc in their nation. These same nations may consider dumping their dollars as they see others implementing the same type of controls. If other nations don't accept the dollars where are all the dollars going to land? Back in the US.
The FED is now printing money to fund the Federal government. An additional $600 billion of newly printed money will be used to buy ALL the government debt issued by the Federal government over the next 8 months (from 11/8/10). From the article: "For the next eight months, the nation’s central bank will be monetizing the federal debt."
The US has crossed the "Bernholz line". Peter Bernholz analyzed hyperinflationary episodes that took place in the 20th century. Two indicators where common in almost all the episodes. First, over 40% of government expenditures are financed by debt. Second, that debt is financed by money printing. The US meets both criteria.