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it'll be an all-one-market effect with USD up and everything else down. the Fed won't be able to print fast enough and the printing that they do comes with some trepidation b/c if they destroy the USD, their only tool, they then self destruct.
I strongly suspect that TPTB are fully aware of, and largely in control of, the demise of the USD. Far from 'self destruction', I suspect that it will be a great leap forward for them.
If _I_ were doing the engineering, I would formulate things such that a bulk of the population were in need of the support of the government for survival. Like having government issued and government re-charged debit cards for buying food, paying bills, obtaining health care, etc. In this way the population is dis-incentivezed toward picking up guns or stirring up trouble on twitter, and will likely be antagonistic to those who reject the new monetary solution as such people (i.e., us Bitcoin users and those of us who might hold PM's) would be a legitimate threat to their survival.
As an added benefit of such a scheme, inflation could be tuned by putting card holders into debt. Indebtedness is especially effective in keeping people working for limited pay so that is another feature of such a scheme.
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