While I agree with the overall flavor of you post, I do think that there are a couple of flaws.
And this too is only an opinion.
The recession that we are entering is global in nature and will leave no country untouched. Europe will feel it worse than the US, however this is only a relative estimate. It will be bad enough for everyone. The EU will not survive it and therefor the Euro will be gone long before the dollar.
As the dollar is the reserve currency of the world, as deflation takes hold there will be a rush towards dollars to pay and retire debt. I don't think inverters will be as worried about high return investments as they will be simple preservation of capital.
Or I might just be full of shit.