lol... It could be worse!  I could be invested in dollars, while my home currency has soared against the dollar, likely forcing an eventually large loss. 

Since all my investments are dollar denominated, a gain in dollars is a real gain. 

The fundamental argument is in force regardless of the direction of the dollar, and that is going to be an up-draft on prices for many years to come.  If I get some extra dollar gains because the US is too stupid to manage its finances correctly, so much the better.

This is the point you are missing.  Oil and Gold are currencies, in effect, so they will always force an adjustment on weaker currency regimes.  By investing in these vehicles, you are effectively sterilizing yourself from dramatic F/X losses...regardless of what currency you are talking about.  The worst that happens is you don't see a favorable adjustment.  How is oil doing in Canadian funds, or Euros for instance?  From what I see so far, the price is not going up as much...but its still going up. 

Now of course, oil will eventually spin out of control in bubble fashion.  I guess it seems everything does.  But we are definitely not there yet, because supplies continue to remain tight, and the price is still quite reasonable compared to any viable immedate-term alternatives.